Strategic Market Planning Flashcards
What is Strategic Plan ?
3/5 years perspective.
- it’s a process where organisation’s leaders define their vision for the future and identify their org’s goals and objectives
- the process includes : establishing the sequence in which the goals should be realized so that the organization can reach its stated vision
What is a Business plan ?
2/3 years perspective
- written document
- presents targeted market and how each department plan to act in order to achieve it
- Operational and financial perspective
What is Strategic Market Plan
12/18 months perspective
- roadmap that business use to organize, track and execute their mkg strategy and tactics over a given period
- sales forecast for operational budget
- market research and analysis
What are the 2 key components incorporated in mkg strategy ?
POIC : P>O>I>C
Plan
Organize
Implement
Control
POIC approach as a process
What is plan ?
Situation
targets
strategies
execution
What is Organization ?
structure
culture
harmonization
What is Implement ?
activities
programs
systems
policies
What is Control ?
strategic orientation
productivity
activities and programs
systems and politics
What is the 5 Ps
Product/Service
Price
Place
Promotion
People
Product / Service (quality) ?
- refers to the actual product / services a business offers to its customers
- consider abt product designs, features, quality and differentiation from competitors
- basic offer
- inrersent and needs of customers on market (B2B, etc)
Price
- Economic value
- Perceived value added to customers
- end users
-3 criteria’s : cost, demadn, competition - Right price for a win-win commercial exchange
-how the product or service is priced in the market. - setting the right price point to attract customers, compete effectively, and achieve profitability.
Place
- Distribution channel, e-commerce
- Logistic supply chain
- Order processing, transport, warehousing
Promotion
- inform and promote our value propositin (offer) by mix communication in and out the organisation
- Publicity, sponsorship, sales promotion, environment, public relation, direct marketing. Digital marketing, sales, customer service
People
sales, customer support, relationship marketing : before, during and after decision process
- the individuals who work within the organization, as well as the interactions between employees and customers
What is the most valuable competitive advantage of a strategic market planning ?
The effective creative aspect
Why must we developp a strategic mkg plan ?
To developp our vision in term of activities and programms to make our future possible and reachable
- we must identify and define a plan to achieve it
Benefits of strategic market plan ?
- objectivity and to be organized
- Strategic directions for P/S
- The must considering business environment
- Alignment on department harmony and motivation
Inconvenienceof strategic market plan ?
- Costs, time availability, efforts
- Discipline and focus, being rigorous
5 Conditions to succeed ?
1- Market
2- Targets
3- Creativity
4- Process
5- Execution and Control
What is the relation >< Strategic Mkg plan and Business plan ?
- harmonization : market and business plan
- Both plan according the POIC approach must be synchronized especially when executed
What are the expectations of other departments for marketing ?
Sales forecast (=prediction or estimate of the future sales of a product or service)
Specific mkg targets on ?
- new customers
- customers satisfaction and retention
- market shares
- budgets
What is the Marketing plan process ?
SOCE method :
Situational analysis
Orientation
Creativity
Execution
what is Situational analysis ?
- Internal environment : results, corporate performance
- External environment : macromarketing and micromarketing
- corporate stakes (SWOT)
(=mis a process of evaluating and understanding a situation or problem by examining its internal strengths and weaknesses and external opportunities and threats)
