Strategic Marketing Planning

Question 1

What is the most popular/widely cited strategic planning model?

Answer 1

McDonald 2007’s 10 step strategic planning model

Question 2

Give an overview of McDonald 2007 strategic planning model:

Answer 2

Phase 1: Goal Setting

1. Mission
2. Corporate Objectives

Phase 2: Situation Review

3. Market Audit
4. Market Overview
5. SWOT Analysis

Phase 3: Strategy Formulation

6. Assumptions
7. Market objectives and strategies
8. Estimate results identify plans and mixes

Phase 4: Resource Allocation & monitoring

9. Budget
10. 1st year detailed implementation programme

———– Measurement and review

Question 3

Explain the second stage of McDonalds 2007 strategic planning model:

Answer 3

Corporate Objectives: Theses are goals that apply to the whole organisation

Question 4

Explain the second phase of McDonalds 2007 strategic planning model:

Answer 4

The second phase is comprised of:

3. Marketing Audit
4. Market Overview
5. SWOT Analyses

• It is all is do with the environmental analysis: PESTLE SWOT and understanding buyer behaviour

Question 5

Explain the third phase of of McDonalds 2007 strategic planning model:

Answer 5

The third phase is comprised of:

6. Assumptions
7. Marketing objectives and strategies
8. Estimate results and identify plans and mixes

• All to go with segmentation, targeting and positioning. The 4/7P’s marketing mix

Question 6

Name some models of strategic market planning:

Answer 6

• McDonalds 2007 10 step

- Baines et al 2013 3 Step

Question 7

What is the 3 steps to strategic marketing planning?

Answer 7

Baines et al, 2013

1. Strategic Market Analysis
2. Strategic Marketing Goals
3. Strategic Marketing Action

Question 8

Explain the first stage of the 3 steps to strategic marketing planning:

Answer 8

Baines et al, 2013
1. Strategic Market Analysis: Developing knowledge of market and target market. AND internal environment AND the performance environment: Competitors: Their strength/weaknesses, how they will respond.

Essentially to help manages understand the nature of the industry and help them understand what their goals should be.
- PESTLE, Porters 5 Forces, SWOT

Question 9

Explain the second stage of the 3 steps to strategic marketing planning:

Answer 9

Baines et al, 2013
2. Strategic Marketing Goals: 4 main objetives: Hold, harvest, divest, grow.

Other types of strategy:

• Cost leadership: Not necessarily having a lower price, but often. A low cost model which allows businesses to offer good-quality products for less cost
• Differentiation: Geared to creation of products that are valued, satisfy the needs of broad segments
• Focused: Used to seek gaps in broad market segments or to find gaps in competitors product ranges

Question 10

What are the 4 types of objectives?

Answer 10

• Hold: Designed to fend off attacks from other competitors
• Harvest: Often for products that are entering a decline phase. Maximisation of short-term profits, this can be used to support other projects
• Divest: Generally for products that are incurring continuing losses. Are is concerned with leaving the market
• Grow