PLANNING IN MARKETING (Developing a Good 'Plan B' (MAINTAINING THE…
PLANNING IN MARKETING
Its a high-level overview of the entire
business, its vision, objectives and values.
The key components of a strategic plan are:
its purpose is to establish action plans for the operation of the company. It is based on deciding the objectives of the company, defining the resources that will be used.
THE TACTICAL PLAN
describes the tactics that the organization plans to use to achieve the ambitions described in the strategic plan.
If the strategic plan is a response to What ? the tactical plan
responds to How?
The creation of tactical plans is usually carried out by
middle level managers.
There are some components shared by most tactical plans:
1. Specific Goals with Deadlines
The tactical plan will
set this great ambition on smaller and actionable goals.
The tactical plan must list the budget requirements to
achieve the goals specified in the strategic plan.
Listing the output and input flows is also a
The tactical plan must list all the available resources to
achieve the objectives of the organization.
4. Marketing, Financing, etc.
the tactical plan should list the immediate strategy of marketing, supplies, financing, manufacturing,
distribution, and PR.
THE OPERATIONAL PLAN
Includes the specific areas of work for which the company
is formed, coordinates the use of resources and its main
purpose is efficiency.
describes the day-to-day running of
the company.The operational plan draws a roadmap to
achieve tactical objectives within a realistic time frame.
The operational plans can be single-use, or continuous use,
as described below:
1. Single Use Plans
These plans are created for events / activities that will
only happen once. Are usually very specific
2. Permanent Plans
These plans can be used in multiple configurations permanently. The permanent plans can be of several types,
A policy is a general document that dictates how
managers should approach a problem.
The rules are specific regulations according to which
the company works.
A procedure describes a step-by-step process
to achieve a certain objective.
Developing a Good 'Plan B'
Use these principles in your risk assessment process:
A) Address all business-critical operations: A good plan
identifies all critical business functions , and it outlines
ways to minimize losses.
B) Identify risks:The end result of a risk analysis is usually a huge list of
C) Prioritizing risks:You need a careful balance between over-preparing for
something that may never happen n, and adequate
preparation, so that you can respond quickly and effectively
to a crisis situation when it occurs.
To carry out a RISK ANALYSIS, follow these steps:
1. Identify Threats:
The first step in Risk Analysis is to identify the
existing and possible threats that you might face.
2. Estimate Risk:
to calculate out both the likelihood of these threats being
realized, and their possible impact
DEVELOPING THE PLAN
•Your main goal is to maintain business operations
•Define time periods
•Identify the trigger
•Keep the plan simple
•Consider related resource restrictions
•Identify everyone's needs
•Include contingency plans in standard operating
•Manage your risks
•Identify operational inefficiencies
MAINTAINING THE PLAN
Here are some key steps in the contingency plan
•Communicate the plan to everyone in the organization
•Inform people of their roles and responsibilities related to
•Provide necessary training for people to fulfill these roles
•Conduct disaster drills where practical.
•Assess the results of training and drills, and make any
•Review the plan on a regular basis, especially if there are
relevant technological, operational, and personnel changes.
•Distribute revised plans throughout the company, and make
sure that the old plan is discarded.
•Keep copies of the plan off-site, and in a place where they
can be accessed quickly when needed.
Audit the plan periodically:
•Reassess the risks to the business.
•Analyze efforts to control risk by comparing
actual performance with the performance levels
described in the contingency plan.
•Recommend and make changes, if necessary.