Four Components of Marketing Planning
Strategic marketing planning
incorporates the multiple disciplines necessary for Marketing:
Product Management, Pricing Strategy, Supply Chain & Demand Chain (Distribution),
Processes, Alignment & Engagement of People,
Positioning and (of course) Marketing Communications
(Sales, Promotion & Advertising).
Truly comprehensive strategic marketing planning starts with an accurate assessment of the current position of the organisation.
Where are we now? - Analysis
- ERROR Analysis * PESTLEED Analysis * SWOT Analysis * Gap analysis * Market Analysis * QUEST analysis * Product Analysis * Segmentation Study * Tracking Studies * Classification of goods analysis for all product groups in all segments in all channels * Industry analysis * Competition Analysis * Channel analysis * Life cycle analysis * Cost Analysis
- Corporate Purpose Statement – the reason the organisation exists
- Corporate Vision Statement – one phrase describing an organisations’ aspirations
- Corporate Mission Statement – one or two sentences that says what the organisation wants to achieve
Where do we want to be? - Guidelines & Purpose
- Corporate & Marketing Objectives - The Goals that match Purpose, Mission & Vision
How are we going to get there? - Implementation
- Strategies - Specific, measurable, attainable, realistic, time-constrained: P.E.E.R.S.M.A.R.T.
- Prepare a Marketing Action program detailing segmentation, targeting and positioning strategies with a complete description of all strategies, appropriate actions, down to individual, indivisible marketing P.E.E.R.S.M.A.R.T. tactics.
- Every Objective addressed with specific SMART strategies drilled down to every single indivisible specific marketing tactics necessary to execute that strategy.
- Separate sub plans mindful of the 8 P’s of marketing:
- Sales Planning
- Promotional Planning
- Distribution and Channel Planning
- Pricing Strategy Planning
- Web Commerce & Internet Promotional Planning (SEO,SMM, CRO, etc)
Monitoring - Management & Control devices
- Contingency plans * Sensitivity analysis * Financial Forecasts * Accountability Analysis
The Importance of Marketing Planning
Marketing Planning Sets Accountable Outcomes
Marketing Planning sets the path your business must pursue to achieve its goals.
Get it right - You win! Get it wrong, you're dead!
Marketing planning is so important, the advantages of involving a professional marketing planner far outweigh the costs.
Involving experienced, qualified Marketing Planners, armed with proven marketing planning methods, used by the world's most experienced and successful market-led companies, is your best chance of ensuring your plans address all elements of the marketing mix, coordinating them carefully, and balancing your organisation's capabilities in context with the dynamics of competition AND the needs of markets segments AND all relevant stakeholders.
Marketing Planning sets the actions and inputs strategically identified in advance, your profits and results WILL be achieved IF & ONLY IF the planning is right. Formal marketing planning empowers management, inspires staff, evokes enthusiasm from investors, and confidence from business partners.
Marketing Planning is the core of the Business Plan: Maintaining the corporate strategy
Business planning extends details to do with operational HR. Accounting, Finance, Production, administration areas while
the Marketing Plan focuses on managing the market competitors, price, product , distribution, marketing environment, and the promotion
mix (see the Nexus of Marketing below). Marketing planning sets the marketing objectives that reflect corporate
objectives. The business plan lays out the operational activities to support the Marketing Objectives
while also setting non-marketing objectives to keep the organisational operationally sound.
Marketing Planning does NOT deal with OH&S, funding, purchasing, storage, office layout, or bookkeeping. Marketing Planning does create a sound Strategic Plan, the How to Market Plan. Marketing planning includes writing an action plan, built from its strategic planning development. Marketing Planning is the core for building business plans of successful companies.
Applying the techniques of companies like Mars and 3M; forecasting using scenario planning in coordination with
cross-impact analysis, the many benefits derived from professional strategic marketing planning
almost guarantees success.
