Marketing Planning Stages

Strategy and Tactics

Planning: It is a process to anticipate future conditions of events and to determine the optimum way for achieving organizational goals. Marketing Planning: It is the implementation of planning of activities for achieving objectives of marketing.

Strategic Planning in Contrast to Tactical Planning

Strategic Planning: It is a process to determine primary goals of an organization and accepting course action which would help to achieve these objectives. Tactical Planning: It is the process that guides to implement activities mentioned in the strategic plan.

Strategic Planning Vs Tactical Planning

Top Management
Most of their time is spent in planning The focus of their planning activities is concentrated on long term strategic issues.

Middle Level Managers

The focus is on operational planning to create and to implement tactical plans

Supervisors
Their job is to develop specific program to meet objectives in their responsible areas

Steps in the Marketing Planning Process

Mission of the Organization

Mission
The foremost purpose is that it differentiates its identity from others. The mission highlights the organizations objectives and operational activities and formulates strategies for management actions

Determination of Organizational Goals

An organization draws its basic goals in statement of missions. These goals act as a guiding tool for developing and supporting marketing goals and plans. Well defined goals should be specific with quantitative attitudes with set deadline to achieve them.

Formulation, Implementation and Monitoring of a Marketing Strategy

Market Strategy: An organization aims program for selected and to satisfy a target market. A marketing strategy is developed with aim to satisfy consumers of selected target market by strategy of marketing mix. Each element of marketing mix represents a subset element of marketing strategy. Segmentation, targeting and positioning are the three marketing strategies that should be used by the company to promote their products aggressively, in order to raise its sales

Porters Five Forces Model

Elements of a Marketing Strategy

Mixing of four strategic elements of marketing decision process satisfy selected target audience
Product Price Distribution Promotion

Target market
A community towards whom the organization decides to concentrate its marketing efforts

Marketing Mix Variables

Product Strategy
What are goods or services to be offered Customer service Package design Brand name Trade Mark Warranties Product life cycle New product development

Marketing Mix Variables

Distribution Strategy
Planning ensures that customer can receive products in regular quantities at right place and right time Mode of transport Warehousing Inventory control Order processing Marketing channels

Promotional Strategy
By mixing various elements in promotion of effective communication aimed at target audience. Informing and persuading consumer decision of purchase

Pricing Strategy
Specified and justified methods of declaring profitable prices