Transcript Chapter 2 – Strategic Planning and the Marketing Process 2 TYPES OF MARKETING PLANNING 1.STRATEGIC PLANNING – long term planning – determining the primary objectives.

Chapter 2 – Strategic Planning
and the Marketing Process
2 TYPES OF MARKETING
PLANNING
1.STRATEGIC PLANNING
– long term planning
– determining the primary objectives of
organization
2.TACTICAL PLANNING
– implementation of activities specified by
strategic plans
– usually applied to short term plans
3.
OPERATIONAL PLANNING
–
Daily/weekly Planning
Planning at Different
Organizational Levels
See Table 2.1 (pg 41)
STEPS IN MARKETING
PLANNING PROCESS
1. Defining the Mission
– mission statements provide general guidelines for
future mgmt actions
– http://www.ivcc.edu/mission/graphic.html
2. Determining Objectives
– basic objectives are derived from mission statement
– should be specific about goals & time period for goals
3. & 4. Assessing Organizational Resources
& Evaluating Risks & Opportunities
– SWOT analysis: important strategic planning
tool that compares internal organ strengths &
weaknesses to external opport & threats
http://erc.msh.org/quality/ittools/itswot.cfm
• Figure 2.3 SWOT Analysis
–
–
–
–
Leverage
Problem
Constraints
Vulnerability
• STRATEGIC WINDOW
5. Formulating a Marketing Strategy
– Target Market, Marketing Mix, Environment
6. Implementing
TOOLS USED IN
MARKETING PLANNING
1. STRATEGIC BUSINESS UNITS
– divisions w/in diverse company
– http://www.dana.com/overview/
– SBU's possess:
1. distinct mission
2. their own managers
3. identifiable customer segments
4. specific competitors
5. ability to be planned indep of other
units in firm
2. Market Share/Market Growth Matrix
(BCG Matrix)
3. Market Attractiveness/Business Strength
Matrix
• SBU’s usually go thru a life cycle
– question mark -> star -> cash cow -> dog
4. SPREADSHEET ANALYSIS
– software to answer "what if" questions
• SALES FORECASTING
– 2 broad categories of forecasting