Eleven Tips To Build Your Strategic Marketing Planning

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[object Object],market structure market trends Competitive forces new entrants power of supplier power of buyer Substitute Product and services Market overview * Current rivals Key Market Segments segmentation based on…: * What is bought? Who buys? Why? * Gap Analysis Product life cycle analysis Diffusion of innovation 1 = Productivity 2 = Market penetration 3 = New Products/Markets 4 = Investment Now 3 yrs TIME

[object Object],[object Object],[object Object],[object Object],Consider only major segments Techniques for swot analysis 1. Critical Success Factor Analysis 1 2 3 Example Competitors WE A B C Note: Only critical factors are to be considered. Usually not more than 5. Column 1 Weighting according to importance (totals 100) Column 2 Score relating to performance (out of ten) Column 3 Column 1 x Column 2 Column ABC Competitors scored similarly PRICE 50 7 350 QUALITY 30 6 180 DELIVERY 20 4 80 350 180 80

[object Object],Establish how changes in the following will affect business in the planning period. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3. Prioritising opportunities & threats Likelihood of Happining High Med Low Low Med High Impact A C T I O N (Threats or Opportunities)

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[object Object],[object Object],[object Object],KEEP IN MIND Change in the gross national product Anticipated inflation rate Status and projected objectives of key competitors Raw material availability and cost Consumer disposable income Anticipated interest rates Government regulations Expected new innovations Market size Competitor action ,[object Object],[object Object],[object Object],[object Object],[object Object]

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[object Object],[object Object],[object Object],[object Object],[object Object],Stars Question marks Cash Cows Dogs

[object Object],Grow to! Out? Out? Market Share Business Growth < invest

[object Object],[object Object],KEEP IN MIND Risk increases with increasing newness of products and / or markets

[object Object],[object Object],[object Object],Product Price Place Promotion

[object Object],[object Object],[object Object],[object Object],[object Object],KEEP IN MIND: TRIGGER YOUR STAFF FROM SCRATCH TO GET THEIR VIEWS ON THE SPECIFIC EXPECTED ESTIMATIONS

[object Object],[object Object],KEEP IN MIND: Driving your car with passengers to a destination without their knowing where they go to, will create chaos and a bunch of uncertainties during your trip. In best circumstances you will definitely end up somewhere else. Most likely you will leave screaming the car.

[object Object],[object Object],[object Object],KEEP IN MIND: ,[object Object],[object Object]

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Eleven Tips To Build Your Strategic Marketing Planning

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Eleven Tips To Build Your Strategic Marketing Planning