Marketing Planning & Problem Solving [Dr. Carter; MKTG.490]Chapter 1: Introduction to Marketing PlanningMarketing Planning DefinedContents of The Marketing PlanThe Marketing Planning ProcessStep 1: Research and Analyze the Current SituationExternal AnalysisInternal AnalysisOther AnalysesStep 2: Understand Markets and CustomersStep 3: Segmentation, Targeting and PositioningStep 4: Plan Direction, Objectives, and Marketing SupportSix Approaches to GrowthStep 5: Develop Marketing Strategies and ProgramsAlliance Provides ValuePrimary Marketing ToolsThe Marketing MixProductPricingChannelPromotionStep 6: Track Progress, Implement and ControlPreparing for Marketing PlanningSupport Strategies: Customer ServiceSupport Strategies: Internal Marketing5 Guiding Principles for Effective Marketing PlanningChapter 2: Analyzing the Current SituationEnvironmental Scanning and AnalysisInternal FactorsExternal FactorsInternal Analysis: MissionInternal Analysis: ResourcesInternal Analysis: OfferingsInternal Analysis: Previous ResultsInternal Analysis: Business RelationshipsInternal Analysis: Keys to Success and Warning SignsExternal Analysis: Demographic TrendsExternal Analysis: Consumer Demographic TrendsExternal Analysis: Business Demographic TrendsExternal Analysis: Economic TrendsExternal Analysis: Ecological TrendsExternal Analysis: Technological TrendsExternal Analysis: Political-Legal TrendsSlide 44External Analysis: Social-Cultural TrendsExternal Analysis: CompetitorsPorter’s Five Forces ModelThree Fundamental Business StrategiesSWOT AnalysisSWOT Analysis (cont’d)Exhibit 2.5 Judging Organizational Strengths & WeaknessesChapter 3: Understanding Markets and CustomersWhat is a Market?Markets Must Be AnalyzedMarket ShareConsumer vs. Business Markets5 Basic Levels of Market DefinitionAnalyzing Customer Needs and BehaviorAnalyzing Consumer MarketsConsiderations for the Consumer MarketConsumer Market: Cultural ConsiderationsConsumer Market: Social ConsiderationsConsumer Market: Personal ConsiderationsConsiderations for the Business MarketOrganizational Connections: Internal PlayersOrganizational Connections: SuppliersOrganizational Considerations: Company CharacteristicsOrganizational Considerations: Derived DemandPlanning Marketing ResearchExamples of Sources of Secondary ResearchSecondary Research: Some CautionsPrimary ResearchPrimary Research Techniques: Focus GroupsPrimary Research Techniques: Ethnographic ResearchUsing Marketing ResearchChapter 4: Planning Segmentation, Targeting and PositioningFragmentation and Intense CompetitionThe Need for Segmentation, Targeting and PositioningMarket SegmentationSteps in the Segmentation ProcessOverview of Segmentation, Targeting and PositioningConsumer Segmentation VariablesSegmenting by Behaviors and AttitudesSegmenting by DemographicsSegmenting by GeographicsSegmenting by PsychographicsBusiness Segmentation VariablesSlide 88Slide 89Slide 90Assessing Potential Target MarketsAssessing Segment AttractivenessRanking and Choosing Among Potential SegmentsSample Segment RankingCoverage StrategiesPersonasPositioningMeaningful DifferentiationChapter 5: Planning Direction, Objectives, and Marketing SupportDetermining Marketing Plan DirectionOptions for Marketing Plan DirectionGrowthMarket PenetrationMarket DevelopmentProduct DevelopmentDiversificationPros and Cons of DiversificationGrowth Not Always PossibleNongrowth StrategiesSetting Marketing Plan ObjectivesKeys to Effective ObjectivesThree Types of Objectives in Marketing PlansMarketing ObjectivesFinancial ObjectivesAnswering to StakeholdersSocietal ObjectivesCause Related MarketingPlanning Marketing SupportInternal MarketingInternal Marketing Support ObjectivesCustomer ServiceCustomer Service ObjectivesShaping the Marketing MixThe Strategy PyramidMarketing Planning & Problem Solving[Dr. Carter; MKTG.490]COMBINED SET OF1st SECTIONMARKETING PLANNING TEXT SLIDESChapter 1: Introduction to Marketing PlanningThe Marketing Plan Handbook 3rd ed.Marian Burk Wood1-1Marketing Planning DefinedMarketing Planning is a systematic, structured process. It includes:1. Researching and analyzing the current situation.2. Developing and documenting the firm’s objectives, strategies and programs,3. Implementing, evaluating and controlling marketing activities.1-2Contents of The Marketing PlanI. Executive SummaryII. Current SituationIII. Objectives and IssuesIV. Target Market, Customer Analysis and PositioningV. Marketing StrategyVI. Marketing ProgramsVII. Financial PlansVIII. Implementation and Controls1-3The Marketing Planning Process1-4Step 1: Research and Analyze the Current SituationThe marketer performs both:1. External analysis, and2. Internal analysis1-5External AnalysisExternal analysis involves the understanding of trends that may impact marketing strategy:DemographicEconomicTechnologicalPolitical-LegalEcologicalSocial-Cultural1-6Internal AnalysisMarketers also assess the firm’s capabilities and the strategies of competitors in order to:Build on strengthsExploit competitors’ weaknesses1-7Other AnalysesOther areas that are analyzed for their impact on marketing strategy include:CustomersSuppliersDistributorsPartners, andOther Stakeholders1-8Step 2: Understand Markets and CustomersCan be consumers or businessesA comprehensive understanding of the customer is desired:Buying habits, needs, wants, attitudes and behaviors.Who?, What?, Where?, When?, Why?, How?Are buying patterns changing? Why?1-9Step 3: Segmentation, Targeting and PositioningThe purpose of segmentation: To group customers with similar needs, wants, behavior or attitudes.Targeting: The selection of specific segments for marketing. Can be to one segment, multiple segments, or the entire market.Positioning: Using marketing to create a competitively distinctive place (position) for the brand or product in the mind of the targeted customers.1-10Step 4: Plan Direction, Objectives, and Marketing SupportGoals: Long-term performance targets.Objectives: Shorter-term targets that support the achievement of goals.Sustainable Marketing:Balancing long-term goals with short-term objectives and budget realities.Balancing goals and objectives with an eye toward being responsible to the larger society.1-11Six Approaches to GrowthBased upon permutations of markets and products.1-12 CURRENT MODIFIED