PRODUCT MANAGEMENT MKT531 TOPIC : MARKETING PLAN Prepared for : En. Shamsul Baharin Saihani Prepared by : Faisal Ramadzan ID No. :

D EFINITION A written document containing the guidelines for the business center’s marketing programs and allocations over the planning period. Types I.Strategic Planning  Usually takes place at higher level in the organization  Objective are broad and strategic are general  Long term plan II.Marketing Planning  Takes place at the business level  Objectives and strategies are specific  Short term plan – yearly, quarterly and monthly basis

O BJECTIVE OF A MARKETING PLAN I.To define the current situation facing the product II.To define problems and opportunities facing the business III.To establish objectives IV.To define the strategies and programs necessary to achieve the objective V.To pinpoint responsibility for achieving product objectives VI.To establish a customer-competitor orientation. VII.To encourage careful and discipline thinking M ISTAKE IN THE PLANNING PROCESS i.The speed of the process ii.The amount of data collected iii.Who does the planning iv.Length of the Plan v.Frequency of planning

S TEPS IN THE PLANNING PROCESS 1.Update the facts about the past Data collected for marketing planning purposes are often provisional or estimated 2.Collect background data Data collection focuses on information available about the current situation 3.Analyze historical and background data Analyze the existing data to forecast competitor’s action, the behavior of customers and economic conditions. 4.Develop objectives, strategies and action programs Use the implication drawn from the background data to formulate objectives, strategies and marketing mix decision. 5.Develop pro forma financial statement Statements typically include budgets and profit & loss figure 6.Negotiate In a brand management organizational structure, the plan must be marketed both inside and outside marketing as managers compete for their desired portions of corporate or divisional resources.

S TEPS IN THE PLANNING PROCESS … C ONT ’ D 7.Measure progress To correct the plan if the environment changes within the planning period, progress toward stated objectives must be monitored. 8.Audit After a planning period, it is customary to determine variances of planned vs result and sources of the variances. This audit provides important diagnastic information of both current and future planning efforts and act as a sources of feedback on the planning effort. C OMPONENTS OF THE MARKETING PLAN 1.The executive summary A one-page to three-pages synopsis of the plan providing highlights of the current situation, objectives, strategies, principal action programs and financial expectations. 2.Situation analysis CCategory analysis CCompetitor analysis CCustomer analysis PPlanning assumptions

C OMPONENTS OF THE MARKETING PLAN … C ONT ’ D 3.Marketing Objectives / Strategy Follow the background assessment by the strategy portion of the plan. 4.Product / Brand Strategy Identify all the facilities and service changes that occurred last year and are planned for next year. 5. Supporting Marketing Programs It is about pricing, channel of distributions, customer service program, advertising and other relevant marketing program. 6.Financial Document The financial documents report the budgets and pro-forma profit & loss or income statements. P&L statements are often the key elements in securing approval for the plan. 7.The Monitor And Control Section Type of marketing research and other information necessary to measure progress towards achieving the stated objective. 8.Contigency Plan It is helpful particularly in dynamic markets where either new products or new competitors create the need for changes in strategy before the end of the plan’s horizon.

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