Marketing Plan
Marketing & Business Environment
Marketing Planning: An Overview of Marketing
6 main questions to ask in order to create your marketing plan:
1. Where are we now? (Business Mission, Marketing audit, SWOT analysis)
2. How did we get here? (Business Mission, Marketing audit, SWOT analysis)
3. Where are we heading? (Marketing audit, SWOT Analysis)
4. Where would we like to be? (Marketing objectives)
5. How do we get there? (Core Strategy, Marketing mix decisions, Organization, Implementation Plan is vital!!)
6. Are we on course? (Control)
A. Business Mission
A business always has a Mission, Vision and Values. IDENTIFY THEM
What is the business mission? The purpose of the business
Vision? The future (direction) of the business
Values? The company needs to have its own culture
Mission + Vision + Values = Strategic Intent
B. Marketing Audit
A PESTEL Analysis.
C. SWOT Analysis - Situation analysis
Construction through internal and external analysis
Strength + WEAKNESS Internal Analysis = (resource analysis (financial, human, capital, raw material and products), skill analysis…)
Opportunities + Threats External Analysis (PESTEL Analysis)
(No details needed for SWOT Analysis, bullet points)
How attractive is the market?
Porter’s 5 forces (barriers to new entries, bargaining power of suppliers/buyers, threats of substitutes, rivalry in the industry = Industrial analysis) is the market attractive or not?
The scale of the Porter’s 5 forces can be (High-Low-Medium) [USE MARKET LINE WEBSITE]
Sometimes, rivalry can be more than competition and vise versa.
D. Marketing Objectives
How do marketers write down their objectives?
2 sides:
Strategic Thrust:
Strategic Thrust is a strategic approach based on 5 strategic drivers (thrusts) by Wiseman, Rackoff and Ulrich ( '85) to analyse the role of new information technologies at a business strategy level. The 5 thrusts are: Differentiation, Cost, Innovation, Growth and
Marketing Planning: An Overview of Marketing
6 main questions to ask in order to create your marketing plan:
1. Where are we now? (Business Mission, Marketing audit, SWOT analysis)
2. How did we get here? (Business Mission, Marketing audit, SWOT analysis)
3. Where are we heading? (Marketing audit, SWOT Analysis)
4. Where would we like to be? (Marketing objectives)
5. How do we get there? (Core Strategy, Marketing mix decisions, Organization, Implementation Plan is vital!!)
6. Are we on course? (Control)
A. Business Mission
A business always has a Mission, Vision and Values. IDENTIFY THEM
What is the business mission? The purpose of the business
Vision? The future (direction) of the business
Values? The company needs to have its own culture
Mission + Vision + Values = Strategic Intent
B. Marketing Audit
A PESTEL Analysis.
C. SWOT Analysis - Situation analysis
Construction through internal and external analysis
Strength + WEAKNESS Internal Analysis = (resource analysis (financial, human, capital, raw material and products), skill analysis…)
Opportunities + Threats External Analysis (PESTEL Analysis)
(No details needed for SWOT Analysis, bullet points)
How attractive is the market?
Porter’s 5 forces (barriers to new entries, bargaining power of suppliers/buyers, threats of substitutes, rivalry in the industry = Industrial analysis) is the market attractive or not?
The scale of the Porter’s 5 forces can be (High-Low-Medium) [USE MARKET LINE WEBSITE]
Sometimes, rivalry can be more than competition and vise versa.
D. Marketing Objectives
How do marketers write down their objectives?
2 sides:
Strategic Thrust:
Strategic Thrust is a strategic approach based on 5 strategic drivers (thrusts) by Wiseman, Rackoff and Ulrich ( '85) to analyse the role of new information technologies at a business strategy level. The 5 thrusts are: Differentiation, Cost, Innovation, Growth and