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Strategic Planning and Marketing Models - Coggle Diagram
Strategic Planning and Marketing Models
Links to Marketing
process of
formulating
implementing
controlling
course of action
aimed at achieving clearly defined objectives.
marketing, human resources, finance, production, and operations that unify and focus to achieve long-run business objectives.
Ingredients
of a Strategic Marketing Plan
Knowing your market (i.e., customers)
“segmentation” studies
viability
market size
customer insights
Knowing your competitive environment
aware of
competition’s strengths
competition’s weaknesses
but also concentrate on yourself
technological advances
well-crafted marketing intelligence system
Knowing yourself (resources, capabilities, limitations)
SWOT
Strengths (S), Weaknesses (W), Opportunities (O), and Threats (T)
before objectives
fall short
“SMART.”
Specific (S), Measurable (M), Achievable (A), Realistic (R), and Time-bound (T)
six-W’s
“who, what, where, which and why”
concrete criteria for measuring progress
TOWS
Threats (T), Opportunities (O), Weaknesses (W), and Strengths (S)
value chain analysis (VCA)
Activity analysis
Value analysis
Evaluation and planning
Implementing strategic plan and budget
finance
infrastructure
human resources
culture, customs, practices, objectives, and strategies,
Marketing Edge
Actions
4Ps
Programs
Systems
Policies
Bonoma´s
Strategy process
customer satisfaction and trust
People process
evaluates individuals and abilities
Operating process
synchronizes the strategy and people together with a plan
Overcome barriers
Commander model
Collaborative model
Cultural model
Building feedback and control mechanism.
monitoring and control
setting standards
comparing performance
taking corrective measures to keep performance aligned with the standards.
Types of controls
Annual plan control
analyze shortfalls
sales analysis, market share analysis, sales-to-expense ratios, finan- cial analysis, and market-based scorecard analysis
Profitability control
examine profitability by product, territory, customer segment, and trade channel
Efficiency control
assess the effectiveness of spending on sales force, advertising, sales promotion, and distribution
Strategic control
focus on the outcomes of the activities undertaken
include marketing effectiveness rating instrument, marketing audit, marketing excellence review, and company ethical and social responsi- bility review.
steps before choosing a set of indices to monitor
Decide on the aspect(s) of marketing operation to be evaluated
Establish measurement criterion
Establish monitoring mechanism
Compare actual results with standards of performance
Corrective action and analysis of improvement
Crafting market aligned strategy mix
the “how” part of the game plan
creativity
ingenuity
strong dose of customer insights
use of SWOT results
most attractive segment
Single segment
Product specialization
market specialization
elective specialization
full market coverage
Market penetration
Diversification
Brand architecture
core value proposition
Unique selling proposition