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BABCOCK UNIVERSITY, ILISHAN

REMO OGUN STATE.


A TERM PAPER
PRESENTATION
BY
OLATOYE OLUWATOSIN
&
OMENIHU AMARACHI
OCTOBER 2009.

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INTRODUCTION
This paper looks into two major
concept of marketing which
are marketing Planning and
the Corporate Planning.

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What is Marketing Planning
• Marketing planning is the process
of aligning marketing activities
with the organizational objectives.

• Marketing planning is all about


taking advantage of the identified
opportunities inn a strategized
manner.

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TASK INVOLVED IN MARKETING
PLANNING
• Establishing objectives- objectives are stated to enhance the
standard of performance which must be SMART (simple, measurable,
attainable, realistic and time bound).
• Selecting the target market -The success of market planning is
the ability to identify and understand consumers need and organise resources to
satisfy them. It involve questions like:
a) What do consumers want or need?
b) What must be done to satisfy these want?
c) What is the market size?
d) What is its growth profile?
• Developing the market mix -Marketing mix is the set of
controllable variables that must be managed to satisfy the
target market. The controllable are however the four P’s and
must recognise SWOT

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IMPLEMENTATION OF
MARKETING PLAN
• Marketing plan will not succeed unless it
degenerates into work/action. But the business
must be an organisation with an accurate
corporate planning i.e. they must design an
organisation that has the capability of
implementing the marketing plan.
• In marketing Planning there must be a standard
business plan (critical document on business
process to persuade others in supporting your
business)
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ADVANTAGES OF
MARKETING
PLANNING
David Jobber (2004) in his book principles and practice of
marketing identifies the following advantage of marketing
planning.
• Consistency: the plan provides a local point for decision and
actions by recognizing the strategies of the corporate planners.
• Encourage the monitoring of change: planning forces manager
to step away from day-to-day problems and review the impact
of change on business and for strategic perspective

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Adv. Of MKT Planning
Cntd
• Encourages organizational adaptation: the core value
of organisation planning is the ability to match its
environ i.e. it promote the necessity to accept the
inevitability of change.
• Stimulate achievement: the planning process focus on
objectives, strategies and result. It makes people see
the result of their organizational commitment.
• Competitive advantage: planning promote the search
for sources of competitive advantage. Because in the
process of meeting your target, you’ll keep looking for
ways to stay abreast of others.

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PROBLEMS IN MAKING
PLANNING WORK
The following are some of the problems attach to marketing planning:
1. Opportunity cost
Some busy managers consider MP as time wasting which will not allow
the free flow of day-to-day activities. They view the opportunity cost of
spending two/three day in hotel in planning for long term processes is
too high.
2. Reward system
Reward systems of many businesses are geared to the short term
(immediate profit). Incentives and bonuses may be linked to
quarterly/annual result. So, most manager overweight short-term
issues and underweight medium and long term concern if there is no
conflict of time. So they often view Management Planning as a
secondary importance.

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Probs in making Planning
work cntd
3. Information
Information might be withhold from people and so might
not understand the goals of the organisation.
4. Culture
Establishment of systematic market planning process may
vary with the organisation culture (the policies and set
of attitudes peculiar to organisation which often flows
from the CEO’s set of attitudes and belief).
5. Lack of knowledge and skill
People might not have been able to acquire the adequate
skill in the implementation of the marketing plan of
which might be a bit complex and require detailed
explanations.

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HANDLING MARKETING
PLANNING PROBLEMS
Marketing planning problems is a managerial
issue which should also be identified and
solve. The following are some of the
recommended solution by authors so far
consulted:
1. Senior management support

2. Match the planning system to culture of the business

3. The reward system

4. Clear communication

5. Training

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CORPORATE PLANNING
• Corporate Planning is the process of drawing up
detailed action plans to achieve an organization’s
goals and objectives, taking into account the
resources of the organization and the environment
within which it operates.
• Apparently; from the concept of marketing
planning, corporate planning serves as a direction
for marketing planning. Therefore, all the measures
in place in order to organise resources rightly to
satisfy consumers need in respect to achieving the
organisational goal is called the corporate
planning.

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Corporate Planning
Concept
Corporate planning involve preparing the mission
statement, policy, strategy and goals, strategic
managers establish the framework within which the
division and business unit prepares their plans. Some
organisations allows autonomy in setting the price and
profit goals while others do not

All corporation plans in line with the following


concept:
• Defining the corporate mission
• Establishing strategic business unit
• Assigning resources to each sub-business unit
• Assessing growth opportunity

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Corporate Planning
Concept cntd.
DEFINING THE CORPORATE MISSION
Mission statement is a written guideline, produced from the vision to
provide direction for the organisation in a long term and must be
consistently reviewed in every five years.
Good mission statement must have three major characteristic.
• They focus on a limited number of goals

• The mission statements stress the major policies and values the company
want to honour.

• Mission statement also will also define some major competitive scope
which the company will operate like: Industry scope, Product and
application scope, Competence scope, Vertical scope and Geographical
scope.

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Corporate Planning
Concept cntd.
ESTABLISHING STRATEGIC BUSINESS UNIT
Though Levitt argue that market definitions of
business are superior to product definition but most
companies often define their business in terms of
product.
A business can be defined in terms of three
dimensions:
1. Customer groups
2. Customer need
3. Technology

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Corporate Planning
Concept
Characteristics of Strategic Business Unit
• It is a single business or collection of
related business that can be planned
separately from the rest of the company

• It has its own set competitors

• It has a manager who is responsible for


strategic planning and profit performance
and who control most of the factors
affecting profit

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Corporate Planning
Concept
ASSIGNING RESOURCES TO EACH
SUB-BUSINESS UNIT

After planning a new business,


the next thing is to strategize the
objective, strategy and budget to
assign to each sub organisation.

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Corporate Planning
Concept
ASSESSING GROWTH OPPORTUNITY
The company’s plans for its existing business allow it to
project total sales and profits. Atimes, there are less than
what corporate management want them to be. If there is
however a gap between future desired sales and projected
sales, corporate management will have to develop or
acquire new businesses to fill it.

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CONCLUSION
We have been able to establish the fact that Corporate Planning is
the engine of marketing planning in this paper. The success of any
marketing planning is the result of an implemented and a well
followed up corporate planning.
Despite all the limitations in marketing planning, it enormous benefit
in terms of achievement stimulation, competitive edge,
consistency in business flow etc. cannot be overemphasized.
Therefore, government and individual, organization should embrace
the proper implementation of the two concepts in other to have the
best result in the marketing environment.
.

 
 

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REFERENCE
• Charles W. L, Joseph F. H & Carl .M. (1999). Essentials of Marketing. United
State: South Western College Publishing.
• David Jober (2004). Principles and Practice of Marketing. London: The
McGraw-Hill companies.
• David Mercer (1998). Marketing Strategy; the Challenges of the
environment. London: The Open University Business School.
• My Bnet (2006). Corporate Planning retrieved October 2009 from
www.dictionary.bnet.com
• Nirmalya Kumar (2000). Marketing as Strategy. Boston: Harvard and
Business School Press
• Ober (2009). Corporate Planning. National City Corp Special Report.
Retrieved October, 2009 from www.dictionary.bnet
• Paul Peter.J & James H. Donnelly Jr (2001). Marketing Management
Knowledge and Skill. Boston: Irwin McGraw-Hill.
• Philip Kotler & Kelvin L. Keller (2001). Marketing Management. Indian:
Pearson
• William D. Perreeault Jr & Jerome .E. McCarthy (1999). Basic Marketing.
Boston: Irwin McGraw-Hill.

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