Study Set Content:
A summary of the strategic situation for the planning unit (business
unit, market segment, product line, etc.).
Strategic Situation Summary
Define and describe each market target, including customer profiles,
customer preferences, and buying habits, size and growth
estimates, distribution channels, analysis, of key competitors, and
guidelines for positioning strategy.
B. Market Target(s) – Description
Set objectives for the market targets (such as market position, sales
and profits). Also, state objectives for each component of the
marketing program. Indicate how each objective will be measured.
Objectives for the Market Target(s)
State how management wants the firm to be positioned relative to
competition in the eyes and minds of the buyer.
Marketing Program Positioning Strategy
The planning information includes a clear definition of each
target, size and growth rate, description of end-users,
positioning strategy guidelines, and other available information
useful in planning and implementation.
• Targeting priorities should also be indicated by management to
aid in resource allocation.
Market Target Description
This portion of the plan includes the following: market definition
and its important characteristics, size estimates, and growth
projections.
Strategic Situation Summary
identifies the segments considered for
targeting by management. The Competitor Summary indicates
the key competitors (actual and potential), their strengths and
weaknesses, probable future actions, and the organization
competitive advantage, in each segment of interest.
Market segmentation
Supporting information for the summary may be placed in an
() or separate analysis.
Appendix
This part of the plan spells out what the plan is expected to
accomplish during the year. Some objectives may extend
beyond one year into the future, and should also be shown in
the Annual Plan.
Objectives for the Market Target(s)
The positioning statement indicates how the firm would like to
be perceived in the eyes and minds of targeted customers and
prospects. The positioning concept may be functional symbolic,
or experiential.
Marketing Program Positioning Strategy
market position, or customer satisfaction achievements. All
these should be quantified. Objectives should also be included
for each component of the marketing program positioning
strategy portion of the plan, the mix results that move strategy
toward the market target objectives.
• Objectives form a hierarchy ranging from very broad corporate
objectives to be specific objectives a salesperson.
Objectives for the Market Target(s)
Specific strategies for product distribution, price and promotion
are detailed in this part of the plan. Actions to be taken,
Marketing Program Positioning Strategy
may be included in the positioning section
of the Annual Plan, or in a separate section. The contingencies
consider possible actions if the anticipated planning
environment is different from what actually occurs.
• The turbulent business environment makes it difficult to
forecast future events. The planner should evaluate how the
marketing strategy will be changed if the future is different than
anticipated. Actions for major contingencies should be included
in the plan.
Contingency Plans
Planning and implementation responsibilities often involve
more than one person or department. An executive or team
should be assigned responsibility for each market and each
marketing mix component.
Marketing Program Positioning Strategy
Product and geographical responsibilities are also assigned in
some organizations. Responsibilities and coordination needs
should be indicated for marketing units and other business
functions. Importantly, the planning functions should include
representatives from all of the areas responsible for
implementing the plan.
Marketing Program Positioning Strategy
Marketing financial planning consists of forecasting revenues
and profits and estimating the expenses necessary to carry out
the marketing plan.
Forecasting and Budgeting
The executives responsible for market target, product,
geographical area, or other units may prepare the forecast.
Comparative data on sales, profits, and expenses for prior
years provide the useful link to previous results.
Forecasting and Budgeting
If plans are developed for several similar organizational units
such as products, budgets may be consolidated at a higher
organizational level.
Forecasting and Budgeting
Outline the controls that will be used to monitor progress:
goals and budgets spelled out for each month or quarter.
Controls
Outline the specific controls that will be used to periodically
monitor the progress of goals and budgets for each month
or quarter per company or division or product line. Identify
products that are not meeting their goals, explain the
problems and immediately initiate corrective measures.
Controls
