Strategic marketing planning

Question 1

Strategic planning

Answer 1

developing and maintaining strategic fit between company’s goals and capabilities. Adapting and taking advantage of constantly changing environment. marketing planning supports this

Question 2

Company wide strategic planning process

Answer 2

define company mission
set company objectives and goals
design business portfolio
plan marketing and other functional strategies

Question 3

Market orientated mission

Answer 3

organisation’s purpose which guides people internally and externally. Is customer focused

Question 4

Setting company objectives and goals

Answer 4

Mission turned into detailed supporting objectives for each management level. Leads to hierarchy of objectives

Question 5

Designing business portfolio

Answer 5

guided by mission statement and objectives.
1. analyse current portfolio
2. shape future portfolio

Question 6

Analysing business portfolio

Answer 6

Attractiveness and strength in SBUs. Strong resources into profitable businesses that support company’s mission.

Question 7

Shaping future portfolio

Answer 7

Boston consulting group growth share matrix:
Stars = high growth, high share - heavy investment
Cash cows = low growth, high share - less investment, use profits
Question marks = high growth, low share - turn to stars or phase out
Dogs = low growth, low share - maintain but no promise

Question 8

Strategies for SBUs

Answer 8

invest to build share
invest to hold share
harvest short term cash flow
divest by selling or phasing out

Question 9

Strategies for growth and downsizing (product/market expansion grid)

Answer 9

Market penetration - more sales, same products
Market development - new market, same products
Product development - modified/new product, same market
Diversification - new market and products

Question 10

Planning marketing

Answer 10

partnering to build customer relationships. SBUs work together. Partnering internally and externally.

Question 11

QSCV

Answer 11

quality, service, cleaning, value

Question 12

Elements of a customer value-driven marketing strategy

Answer 12

Segmentation - analyse and divide to specific groups
Targeting - evaluate segments attractiveness
Differentiation - better value than competitors
Product positioning - make it desirable in consumer’s minds

Question 13

Integrated marketing mix

Answer 13

7P’s
4C’s - customer solution, customer cost, convenience, communication

Question 14

Marketing management functions

Answer 14

Analysis
Planning
Implement + Organise
Control

Question 15

Analysis

Answer 15

Internal strengths and weaknesses, external opportunities and threats

Question 16

Marketing planning

Answer 16

deciding on marketing strategies to attain strategic objectives

Question 17

Marketing strategy

Answer 17

ways the company will create value through target markets, positioning, marketing mix and expenditure

Question 18

Contents of a marketing plan

Answer 18

executive summary
current marketing situation
threats and opportunities analysis
objectives and issues
marketing strategy
action programs
budgets
controls

Question 19

Implementation

Answer 19

turning plans into action

Question 20

Organisation

Answer 20

functional, geographic, marketing/customer manager, product manager

Question 21

Control

Answer 21

making, measuring and evaluating goals and taking corrective action.

Question 22

Operating control

Answer 22

checking ongoing performance against annual plan and taking corrective action

Question 23

Strategic control

Answer 23

matching the basic strategies to opportunities

Question 24

Marketing ROI

Answer 24

net return in marketing investment/cost of marketing investment. hold marketers accountable for strategies.

Question 25

Marketing measures

Answer 25

performance measured by: brand awareness, sales, market share, customer lifetime value/retention/equity

Question 26

Marketing dashboard

Answer 26

set of marketing performance monitors that show the benefit from marketing