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  • Blog
    • 2019
      • 01
        • Market Opportunity Assessment: Why You Need One & 5 Key Steps
        • Enrollment Management: Navigating Disruption to Achieve Success
      • 02
      • 03
        • 49% of retailers name in-store mobile experience a top priority
        • 2019 Digital Marketing Trends & Gen Z
      • 04
        • Enrollment Management: Shifting Demographics & Shrinking Population
        • Smart College Recruitment Targets Wisely Using Segmentation
      • 05
        • Email Marketing Tips
    • 2018
      • 01
        • The hidden cost of selling direct – the returns game
        • 2018 Lead Generation & Recruitment Predictions & Tips
        • How's your marketing?
        • The Offer - How To Make One They Can't Refuse
        • Successful Product Development
        • How Direct Makes Digital Better
        • Questions That You Need To Answer
        • Do You Know What Your Competition Is Doing?
      • 02
        • The Marketing Planning Process...Doing It Right!
        • Managing The Sales Pipeline
      • 03
        • Being Prepared for Change (Why You Need Market Intelligence to Drive Revenue Growth)
        • Competitor Update: Coursera Coming to Eat Your Lunch
        • Discussion: Why Should Your Institution Exist in the 21st Century?
        • Discussion: Should Your College Exist in the 21st Century?
        • Welcome Back: Former Students, Graduates
        • Adult Students: Thoughts on the Chronicle's Report
      • 04
        • Avalanche of Dreck...Are you part of the problem?
        • Profile of the Average Online Student
        • You Can't Make It Up In Volume
      • 05
        • Simple Guide to Creating Profitable Personas
        • Amazon Losing Billions - You Should Be Scared
        • Comment: Why Most CMOs are Failing
        • Marketing Personalization...Most of It Isn't
        • Amazon's "Try Before You Buy"
        • Are Shoppers Really That Resistant to Self-Checkout?
        • B.A.N.T. May Be Old, But It Still Works
        • All The Martech In The World Won't Make You a Marketer
        • 9 Tips For Writing Effective PPC Ads
        • Blogging: 5 Reasons Why & 5 Tips for Success
        • The 4 Step Welcome Email Series
      • 06
        • The Lead Management Game - Winning Or Losing?
        • Part 1: Podcasts Should You Start Your Own Podcast?
        • Part 1: Blogs: Should You Start A Blog?
        • 8 Simple Ways to Increase Enrollments
      • 07
        • PART 2: Podcasts: Develop Your Plan
        • Should You Buy or Generate Your Own Leads?
        • How to Overcome the 3 Reasons Most Miss Their Enrollment Goals
      • 08
        • Contact Strategy: People Buy From People
        • 2 Commonly Overlooked Causes for Enrollment Shortfalls - And How to Fix Them
        • Designing and Writing Effective Direct Mail Packages
      • 09
      • 10
      • 11
        • Developing Your Content Marketing Strategy
        • How Content Marketing Can Increase Enrollments, Retention
    • 2017
      • 01
        • Influencer Marketing: More Confusion Over Simple Concept
        • 10+ Reasons Why Most College Marketing/Enrollment Plans Fail & How to Avoid Them
        • Marketing Planning 101 - Are You?
        • Are CMOs' Jobs in Jeopardy?
        • Lead Flow Planning - Getting It Right
        • Omni Channel or Not? Retail Survival or Not?
      • 02
        • Announcing Our New Enhanced On-Demand Services for Adult, Graduate and Continuing Education Programs
        • Tips for Great Direct Response Radio
        • Email Design Tips
        • Data-Driven Marketing...It's As Old As Index Cards, And Then Some...
        • Why They ain’t buying what you’re sellin’
      • 03
        • New Degree Programs: What You Must Learn from Google, Amazon and Apple
        • Student Recruitment & Retention Goes to the Movies
        • Just Outsource It!
      • 04
        • Why You’re Not Answering Their Questions
        • Adult Students: Are You Serious or Just Screwing Around?
        • Is Your Brand Safe?
        • Ask Questions
        • Event Marketing for Adult Enrollments
        • Retail is Not Dead!
        • Pros & Cons of In House Agency
        • Is Affiliate Marketing for Your Business?
        • Webinar: 7 Proven Techniques for Increasing Adult Student Enrollments
        • False Victories
      • 05
        • Bring Programmatic Adv In House? Yes? No?
        • Call Attribution Tech - Do you need it?
        • Are you losing sales people?
        • Webinar: Adult Student Retention
        • Is ‘eMail Blindness’ Killing Your Business?
      • 06
        • Direct Mail Tips for More Effective Student Recruitment
        • Marketers Wake Up...Get Those Phone #s
        • The Secret to Successfully Providing Life-long Learning
        • Higher Ed Marketing Podcast 3: Web Forms
        • Higher Ed Marketing Podcast 4: Thank you page
      • 07
        • 2 Secrets to Achieving Adult Enrollment Goals
        • Social Worship
        • The Amazon Effect...Are You Ready?
        • Old Ways Don't Open New Doors
      • 08
        • Early Results: Adult Student Recruitment Effectiveness Part I of II
        • Early Results: Adult Student Recruitment Effectiveness Part II of II
        • Webinar: Competitive Intelligence 101
        • How to Say the Right Thing so More Adults Enroll
        • Clear Communications, not Content Marketing, is Key to Achieving Adult Enrollment Goals
      • 09
        • Are You Listening Carefully? Asking the Right Questions?
        • Missing Unrealistic Goals
      • 10
        • What Are You Putting Into Your Sales Pipeline
        • Competitive Intelligence - What is it? Why do you need it?
      • 11
        • Yes, You Do Have the Budget
      • 12
        • Enrollment Opportunity: Under-served Segments
        • Why Colleges Are Failing to Achieve Adult Enrollment Goals
    • 2016
      • 01
        • Direct Marketing Planning
        • How Many Leads Do Our Sales Executives Need?
        • The Drones Are Coming!
        • New Study Identifies Opportunities to Improve Student Recruitment
        • Outbound Telemarketing Missing Opportunities As Part of College Student Recruitment
        • Student Retention Tips for 2016
        • Advantages of Direct Marketing
        • 6 Tips to Improve Your College's Content Marketing Performance
      • 02
        • Lead Flow Planning - Getting It Right
        • Are You Sitting Around Waiting for Business?
        • Get More Our of Your CRM Investment
        • Tips for Building Affordable, Effective Marketing Research Program
        • Smart College Recruitment Targets Wisely Using Segmentation
      • 03
        • Marketer's Toolkit Goes Mobile
        • A/B Testing: Some Important Rules to Follow
        • Targeting is Not Rocket Science
        • Snap Chat for Student Recruitment
        • Colleges Must Lead the Way in Marketing to Millennials
        • How Many Leads Do You Need?
        • Do You Know What a "Lead" Is?
        • Do You Know How Many Sales Leads You Need? Find Out With...
        • Content Marketing: It's a Mess
      • 04
        • What Is The Best Marketing Channel?
        • Do You Need a Marketing Plan?
        • Data Analytics Improve Enrollment Performance
        • Why Facilitated Strategic Planning Workshops are Most Effective for Your College...
        • Common Social Media Challenges and Solutions
        • 8 1/2 Common Errors in the Student Recruitment Process
      • 05
        • Differentiation - Colleges Need to Be Uniquely Valuable
        • Non-Traditional Students: Tips to Attract & Retain
        • Market Planning Process
        • Market Analysis - Identify Your Target Markets
        • Catalog Business Plan
        • 10 Common Digital Marketing Mistakes & Solutions
        • Tips for Recruiting Millennials to Your College
        • How to Lower New Student Acquisition Costs
      • 06
        • Your Website Needs Help
        • Better Adwords Performance ASAP
        • Higher Education Marketing Assessment Tool: A Demo
        • Join Marketing Connection Today
        • Marketers Are Focused On the Wrong Things
        • Marketing...It's About the Numbers
        • Colleges Without Market Research: Penny-Wise, Pound Foolish
        • Top Benefits You Enjoy From a Mystery Shopper Audit
      • 07
        • The Future of Content Marketing
        • Pokemon Go: Student Recruitment & Retention?
        • Whatever the Channel: Marketing Success Depends on 5 Factors
        • When Your Customers Aren't Your Customers - Social Media Pitfalls
        • Content Marketing Success
        • Why You Can't Afford to Pass on a Retention Audit
      • 08
        • Your Trouble With Adwords
        • You Can't Recruit & Retain if You Don't Know Your Audience
        • Facebook Live for Student Recruitment
        • How to Make Significant Improvements to Student Recruitment Results
      • 09
        • Why Facilitated Strategic Planning Workshops are Most Effective for Your College...
        • Video Marketing: Tips for Greater Success
        • The Details Are in the Plans
        • Digital Metrics: How Much is Real & How Much is Bullshit?
        • Video Content Marketing: Tips for Greater Success
      • 10
        • How You Can Enroll More Non-Traditional Students
        • Your Email Metrics Are Wrong
        • Too Much Content Too Much Waste
        • How Asking the Right Questions Can Increase Enrollments
        • Content Marketing for Higher Education Recruitment and Retention
      • 11
        • 5 Ways to Increase Graduate School Enrollments by Leveraging Data
        • Big Data, Predictive Analytics & Marketing Research Strike Out in Election 2016
      • 12
    • 2015
      • 11
        • Black Friday - Cyber Monday - Trends
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The Marketing Planning Process...Doing It Right!

Feb 22, 2018

strategy.jpg

The Strategic Marketing Planning Process

All businesses need one, but many businesses don't have one...a marketing plan.  The marketing plan is your road map from Point A to Point B.  It takes you from where you are to where you want to go.  The marketing planing process is well defined and should be followed for the best results.  The marketing planning process addresses these four questions:

  1. Where are you now? (the situation analysis)
  2. Where do you want to be?  (your marketing goals and objectives)
  3. What is the best route to get there?  (your strategies)
  4. What do you need for the trip?  (your tactics)

Step 1: The Situation Analysis

To chart the best course of action, a marketer must know from where it is that he/she will begin the journey. Marketing planning begins with a detailed analysis of the marketing environment. This assessment of an organization’s current state, called a situation analysis, answers the question, "Where are we now?"

Steps in the analysis:

1. Summarize the internal marketing environment—that is, your organization’s

  • philosophies that might influence its choice of marketing strategies
  • recent and current performance
  • products and services
  • pricing
  • promotions
  • available resources

2. Describe features of the external marketing environment that might affect the success of your organization. That is, describe important issues relating to:

  • current customers
  • competitors
  • distributors and suppliers
  • the economic climate
  • the regulatory climate
  • the political climate, and any other external factor that might impact the success of your organization
  • environmental issues or considerations

3. Summarize key marketplace trends that might affect your organization’s success in the marketplace.

4. Forecast market demand under normal conditions (i.e., assuming no major changes in the marketing environment or marketing strategies). Also forecast market demand given expected changes in the marketing environment or marketing strategies.

5. Based on your analysis of the marketing environment, describe characteristics of your organization that may help or hinder its ability to compete successfully in the marketplace. Your organization’s strengths suggest strategy implications. Its weaknesses suggest where your organization must make investments.

6. Based on the analysis of the marketing environment, describe the major opportunities and threats facing your organization—that is, things outside of the organization’s direct control that may affect its success in the marketplace. An opportunity is a market that is growing, profitable, or vulnerable. The best opportunities are those that match the strengths of the organization, giving the enterprise a competitive advantage.

Step 2: Marketing Goals & Objectives

The situation analysis should have revealed to you some of the strengths and weaknesses of your business and the opportunities and threats facing you in the marketplace. With that insight about your organization and its market environment, you are now ready to set goals and objectives for the coming year.

A marketing goal is your organization’s aim, its desired destination. It is the answer to the question, "Where do we want to be?" Your goal may be to increase revenue or profits. It may be to capture a larger share of the market. Or, something else.

Marketing objectives are the specific, measurable results that must occur if the goal is to be met. Marketing objectives are designed to correct a weakness, minimize a threat, take advantage of a strength, or exploit an opportunity in the market. Examples of objectives include changes in revenue, profit, growth, market share, or market penetration. Your objectives might be to affect levels of consumer awareness, knowledge, or inquires.

Step 3: Strategies

Now you must transform everything you have learned about your organization, consumers, competitors, and the macro environment into strategies that will help you achieve your goal. Marketing strategies explain how the plan’s objectives will be met. They describe the best route that your organization can take to get from Point A (your current state) to Point B (your desired state).§ For any marketing plan, strategy development follows a step-by-step process. The four steps include:

  1. Target Market. Because markets are large and varied, and competition is keen, no organization can serve all customers equally well. The optimal strategy in a competitive market is to concentrate on particular types of customers—market segments—that (1) you have an edge in serving and (2) present an attractive opportunity for your organization
  2. Marketing Expenditure Level. Marketing strategy also calls for deciding how much your organization must invest if it is to meet its goals. Most established businesses spend 15-25 percent of gross sales on marketing. For start-ups, the marketing expenditure level in the short term will likely exceed expected sales revenue. A good rule of thumb is that expenditures during introduction should be twice the rate currently spent by competitors who have shares equal to the organization’s objective.
  3. Brand Positioning, By Market. The next step is to decide on a position for the product—that is the positive idea that you want strongly associated with your name. "Your In Good Hands" (Allstate). "Das Auto" (Volkswagen). "More Savings, More Doing" (Home Depot), "The Ultimate Driving Machine" (BMW). The most effective positions have three traits. First, they are very simple—one to seven words. Second, they convey that your offering provides a highly desired consumer benefit. Third, they convey how your offering is different from those of competitors.
  4. Marketing Mix, By Market. A marketing mix is the blend of "tools" that your organization will use to achieve its objectives with a particular target market. The tools, popularly known as "The Four Ps," include product, price, place (distribution), and promotion. The tools of the marketing mix are interdependent and must be balanced. For example, your price depends on your product, and affects the promotional options available to you. The elements of your marketing mix must be integrated so that they work with, not against, one another.

Your marketing mix includes:

  1. Product Strategy. How can you change the tangible and intangible features of your product in a way that will enhance your competitive advantage in the marketplace? Will you change the number or variety of your products? What product improvements will you make to provide more benefits to consumers? If you have more than one target market, develop product strategies for each.
  2. Price Strategy. What are your pricing objectives (e.g., maximizing profits, maximizing revenue, or capturing market share)? What price range will support your sales and profit objectives? What price range will support your product, distribution and promotional strategies? If you have more than one target market, do they require different price strategies?
  3. Distribution Strategy. How will you deliver programs and services to customers in the coming year (i.e., directly, through intermediaries, or both)? What is your rationale for that decision? If you have more than one target audience you may need more than one distribution strategy.
  4. Promotional Strategy. What are your promotional objectives? Given what you know about your organization and the nature of the market, how will you formulate your promotional mix so that it is cost-effective? What are your objectives and strategies for publicity, sales promotions, personal selling, and advertising? What is your reasoning for each of your promotional strategies?

Step 4: Tactics

Tactics describe in detail the specific activities and expenditures that must occur if the organization is to reach its marketing objectives. Tactics represent the "who, what, when, and how much of the marketing plan." They are tasks that are assigned to specific individuals, with specific due dates. A tactical (or action) plan is your "to do list" for the trip you will take from Point A (your current state) to Point B (your desired state).

Your action plan can be summarized on a computer spreadsheet as an annual calendar. The spreadsheet columns list the weeks or months of the year, and the rows list the tasks, responsibilities and due dates. A spread sheet format provides a way to visualize the scope of work and to easily adjust plans as new problems or opportunities arise during the year.

The above steps outline the process for developing a strategic marketing plan.  The chart below shows the complete strategic planning model process and the steps/actions required to complete that phase in the planning process.

Strategic planning model.png

For more information on developing a marketing plan, click the following links to download white papers and PowerPoint tutorials on the topic of marketing planning

  • Marketing 101: Do You Need a Marketing Plan?
  • Marketing Planning 101: Tutorial

 



Tags: Marketing Planning, Marketing Strategy, Strategic Market Planning, Market Planning Process
Category: Marketing Planning

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Dudley Stevenson, founder and CEO of DWS Associates, has over thirty-five years’ experience in consumer marketing, business-to-business marketing, and direct marketing, including developing, planning, and implementing go-to-market strategies. He's also the author of "Marketing Direct: Breaking Through The Clutter." Working with organizations ranging from start-ups to Fortune 100 companies, he and his team have helped clients such as IBM, Sony, Neiman Marcus, Arizona Highways, Marshall Field & Co., Mrs. Field’s, UNICEF, and Patagonia implement successful direct marketing programs. A longtime member of the Direct Marketing Association and the American Marketing Association, Stevenson is also a sought-after speaker. He’s given hundreds of presentations and workshops on marketing and direct marketing. His “Marketing Planning 101” workshop alone has reached more than 100,000 marketing and sales professionals.


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