2021–09–15
1
1
LECTURE 2
STRATEGIC
MARKETING
PLANNING
Today’s Objectives
1. Learn about the Marketing Planning
framework
2. How to do a situation analysis properly
3. How to leverage a situation analysis
4. How to write strategies properly
2
2021–09–15
2
Where are
we now?
Where do we
want to be?
How will we
get there?
ESSENCE OF A PLAN
1. Introduction
A short, high level overview of the company and the situation
they are currently in (i.e. – why was this plan written?)
2. Situation Analysis
3. Objectives
4. Targeting Strategy
(a) Target Definition
(b) Target Rationale
(c) Target Insight
5. Marketing Strategies and Tactics
6. Budget and Timing
MARKETING PLAN
2021–09–15
3
•A marketing plan is a selling document.
•Should instill confidence that the objectives are
achievable and provides a convincing case for the
resources requested.
•To build a convincing case, there needs to be a logical
flow from the assessment of the current situation to the
Strategies and Tactics.
•This starts by demonstrating a good understanding of
the company’s situation.
•To ensure the analysis is properly done and used, you
need to identify the issues that you will focus on and
address in the plan.
WINNING PLANS START WITH A
STRONG SITUATION ANALYSIS
s
STRENGTHS
w
WEAKNESSES
o
OPPORTUNITIES
T
THREATS
•What are the things the company does well or is
proud of?
•What are the things the company would say are areas
for improvement?
•What is the situation outside of the company’s control
that might be seen as “good news” (e.g. – positive
consumer trends, competitor weaknesses or good
things happening in technology, economy, politics, legal,
or competitor weaknesses
•Opportunities are not actions the company could take
•What is the situation outside of the company’s control
that might be seen as “bad news” (e.g. – consumer
trends, competitor threats, or technology, economic,
political, or legal issues
2021–09–15
4
ABC Company manufactures widgets and operate in a fiercely
price-competitive marketplace that has had little innovation over
the past 10 years. ABC’s manufacturing technology is out–of-date
and, as a result, their product costs are higher than their
competitors. In the 1990’s, they identified a raw material that
helped their product perform slightly better than their competitors.
Because their competitors have had a history of being slow to
respond to changes in the marketplace, ABC had enough time to
get exclusive access to this key raw material. This exclusivity
allowed ABC to establish a strong brand name and build a loyal
customer base.
Recently, there have been rumours that the government is
planning to introduce new legislation that will ban use of ABC’s
exclusive raw material. ABC’s R&D department is in the final
stages of development of a non-exclusive replacement ingredient.
In addition, a market research study they recently commissioned,
uncovered a few unmet needs with their customers
s
STRENGTHS
w
WEAKNESSES
o
OPPORTUNITIES
T
THREATS
•Strong brand
•Manufacturing costs are high
•Industry has been slow to respond to
competitive new product launches
•Current widget is not compliant with
anticipated government regulations
2021–09–15
ISSUE / OPPORTUNITY
•Strong brand
•Manufacturing costs are high
•Industry has been slow to
respond to competitive new
product launches
•Current widget is not
INDICATED ACTION
/APPROACH
•Will be easier to pre-sell a new widget and
get customers to delay their replacements
until it is available.
•Exerts severe pressure on margins if ABC
needs to compete on price. When
launching new widget, ABC will have to
deliver differentiation or reduce costs or
both to compete effectively.
•ABC can incorporate new regulation
requirements as well as other product
enhancements at design stage of the new
widget
•Must ensure new widget is compliant with
anticipated changes in regulations to
