Strategic Marketing Planning

Group Members
Neha Soham Ashish Aparna Shariq Pragati Rakshita Ushma Abhijit

Planning process that seeks to establish a clear direction and unified purpose for all marketing efforts.

Strategic Marketing Planning

It includes
o Identifying promotional opportunities and evaluating the marketing opportunities o Researching o Analyzing and identifying the target markets o Developing a strategic position for the company to pursue and how to implement the strategy o Preparation and implementation of the marketing plan o Measuring and evaluating the results of the marketing efforts of the company o Short-term (one year) and long-term (two year, three year and five year plans) periods

Strategic management cycle

Strategic Marketing Plans

The strategic marketing plan process typically has three stages:

Geographic Demographic Psychographic Behavior

Revenue potential Market share potential Profitability potential

Market segment marketing strategy

Profile the market segments

Segment the market

Market leader or product line extension Mass marketing or targeted marketing Direct or indirect sales

Use of Strategic Marketing Planning

o Guide in conducting its daily business o Short-term and long-term decisions o Tactical marketing programs and projects needed to

implement the plan

Product development plan Marketing communications plan Sales development plan Customer service plan

Benefits of Strategic Marketing Planning

o Written guide to reach its goals and objectives. o Create and utilize consistent messaging internally and externally.

o Employees and customers understand what the company

offers and how the company offers it. o Common goal. o Increase in revenues and market share, decrease in expenses. o Increase in company profitability.

Considerations for Effective strategic marketing planning

o Research and know target market. o Live, think, breathe and feel like their target market o Product and service development needs to have an existing

marketing than developing products and services, and then

seeking out a target market.

Marketing Control Tool

Annual Plan control Monitoring of current marketing efforts and results to ensure that the annual sales and the profit goals are achieved Profitability control Strategic Control Efficiency control

Profitability control is to determine the actual profitability of the firms products, territories, market segments and trade channels

Strategic control is the crucial task of making sure that the companys marketing objectives, strategi es and systems are optimally adapted to the current and forecasted marketing environment

Efficiency control is undertaken to evaluate and improve the spending efficiency and impact of marketing expenditures on the marketing operations