MARKETING PLANNING 1

•       MARKETING PLANNING 1
MARKETING MANAGEMENT

·         MEANING OF PLANNING

•      PLANNING IS MANAGERIAL ACTIVITY WHICH IS BASIC REQUIREMENT FOR ALL ORGANIZATIONS. ANY ORGANIZATION WILL NEED GENERAL AND SPECIFIC PLANS TO FULFILL ITS OBJECTIVES. PLANNING IS DECIDING NOW  WHAT WE ARE GOING TO DO LATER INCLUDING HOW AND WHEN WE ARE GOING TO DO IT.

•      ELEMENTS OF PLANNING

1.        TIMING

2.        TASKS

3.        RESPONSIBILITIES

4.        FOLLOW UP

5.        BUDGETING

•      LEVELS OF PLANNING

1.        STRATEGIC PLANNING:-WHICH IS OVER ALL CORPORATE PLAN FOR THE ORGANIZATION. THIS PLAN TYPICALLY COVERS THE COMPANY’S LONG RANGE GOALS AND SETS THE STAGE FOR THE REST OF PLANNING IN THE COMPANY

2.        MARKETING PLANNING:- IS THE OPERATIONAL PLAN FOR A PARTICULAR PRODUCT OR PRODUCT LINE. DETAILED SCHEME OF THE MARKETING STRATEGIES AND ACTIVITIES ASSOCIATED WITH EACH PRODUCT’S MARKETING MIX

3.        TACTICAL PLANNING( ANNUAL MARKETING PLANNING): TACTICAL PLANNING SPECIFYING DETAILS WHICH PERTAIN TO THE ORGANIZATION’S ACTIVITIES FOR SPECIFIC PERIOD OF TIME.

•      BASIC ELEMENTS OF STRATEGIC PLANNING

1.        MISSION

2.        STRATEGIC BUSINESS UNITS

3.        OBJECTIVES

4.        STRATEGIC BUSINESS TOOLS

5.        MARKETING PLANS

•      BASIC ELEMENTS OF STRATEGIC PLANNING

•      MISSION:-IT STATES WHAT CUSTOMER IT SERVES,WHAT NEEDS IT SATISFIES AND WHAT TYPE OF PRODUCT IT OFFERS. IN THE MISSION STATEMENT THE ORGANIZATION MUST DEFINE THE BUSINESS OR WHAT IT MAKES DIFFERENT FROM ITS COMPETITORS. FOR EXAMPLE: CADBURY TO ATTAIN LEADERSHIP POSITION IN THE CONFECTIONERY MARKET AND ACHIEVE A STRONG NATIONAL PRESENCE IN THE FOOD DRINKS SECTOR.

•      STRATEGIC BUSINESS UNITS:-MOST OF THE LARGE COMPANIES WITH MULTI PRODUCT LINES OR OPERATIONS IN MANY COUNTRIES CREATE STRATEGIC BUSINESS UNITS. THESE ARE SMALLER DIVISIONS AND IT COULD BE ONE SPECIFIC PRODUCT,ONE PRODUCT LINE OR SPECIFIC BUSINESS.THEY HAVE THEIR OWN MISSION STATEMENT,OBJECTIVES AND STRATEGIC AS WELL AS MARKETING PLANS.

•      OBJECTIVES:-AN ORGANIZATION’S MISSION STATEMENT DIRECTS ITS OBJECTIVES. AN OBJECTIVE IS SIMPLY DESIRED OUTCOME. MARKETING STRATEGIES ARE DEVELOPED TO ACHIEVE THESE OBJECTIVES.

•      STRATEGIC PLANNING TOOLS:-IT HELPS IN STRATEGIC PLANNING IN MULTI BUSINESS AND PRIORITIZATION. THE FIRM HAS TO DECIDE WHICH PRODUCTS DESERVE ADDITIONAL INVESTMENT. THE ORGANIZATION BY USING VARIOUS TOOL DECIDE WHICH STRATEGY IT SHOULD FOLLOW:

1.        GROWTH VECTOR MODEL

2.        THE BCG MODEL( BOSTON CONSULTING GROUP’S GROWTH SHARE MATRIX) IS ANOTHER VALUABLE TOOL USED TO ANALYZE PRODUCT PORTFOLIO OF SBU

3.        GENERAL ELECTRIC ATTRACTIVENESS PORTFOLIO MATRIX:- FOR EVALUATION HOW A COMPANY ‘S PRODUCTS ARE FARING AND WHAT CHANGE MUST BE NEEDED.

•      MARKETING PLANS: DETAILED SCHEME OF THE MARKETING STRATEGIES AND ACTIVITIES ASSOCIATED WITH EACH PRODUCT'S MARKETING MIX.SHORT TERM.

•      MARKETING PLANNING

•      WRITTEN DOCUMENTS CONTAINING THE GUIDELINES FOR BUSINESS CENTER'S MARKETING PROGRAMME AND ALLOCATION OVER THE PLANNING PERIOD. IT CAN BE PREPARED FOR ONE PRODUCT,FOR BRAND ,FOR AN ENTIRE PRODUCT CATEGORY OR FOR SPECIFIC BRANDS DEPENDING ON THE PRIORITY AND SIZE OF EACH.

•      LONG RANG PLANNING DEALS WITH COMPANY WIDE ISSUES LIKE EXPANDING OR CONTRACTING PRODUCTION,MARKETING AND PRODUCT LINES. SHORT TERM PLANNING TYPICALLY COVERS ONE YEAR OR LESS AND IT IS THE RESPONSIBILITY OF MIDDLE AND JUNIOR LEVEL.

•      OBJECTIVES OF A MARKETING PLAN

1.        TO DEFINE THE CURRENT SITUATION FACING THE PRODUCT

2.        TO DEFINE THE PROBLEM AND OPPORTUNITIES FACING THE BUSINESS

3.        TO ESTABLISH OBJECTIVES

4.        TO DEFINE THE STRATEGIES AND PROGRAMMES

5.        TO PINPOINT RESPONSIBILITY

6.        TO ESTABLISH CUSTOMER –COMPETITOR ORIENTATION