MGT-519 STRATEGIC MARKETING AAMER SIDDIQI 1

LECTURE 10 2

RE-CAP Ansoff’s Matrix The 5 M’s SWOT-Analysis 3

I MPLEMENTATION, A NALYSIS, C ONTROL & E VALUATION Marketing control is the process of monitoring the marketing plan – as they proceed and – then taking action to adjust the plans through changes in the marketing mix where necessary Objective states where you want to be The plan itself sets out the preferred route destination Control keeps the process on the right route What alternative routes are available if original becomes blocked 4

Control involves: - – measurement – evaluation and – monitoring Resources are scarce and costly so it is important to control marketing plans Control involves setting standards. In management variance analysis is used to compare actual progress against the standards Where there is a significant variation from the standard it is reported for further investigation and corrective action I MPLEMENTATION, A NALYSIS, C ONTROL & E VALUATION (C ONT ’ D ) 5

This process is no different in marketing than it is in accounting There are many approaches to control; here are a few common ones: Market share analysis I MPLEMENTATION, A NALYSIS, C ONTROL & E VALUATION (C ONT ’ D ) 6

Sales analysis. Quality controls. Budgets. Ratio analysis. Marketing research. Marketing information systems (MkIS). Feedback from customer’s satisfaction surveys. Cash flow statements. Customer Relationship Management (CRM) systems. Sales per thousand customers, per factory, by segment. Location of buyers and potential buyers. Activities of competitors to aspects of your plan. Distributor support. Performance of any promotional activities. Market reaction/acceptance to pricing polices. Service levels. I MPLEMENTATION, A NALYSIS, C ONTROL & E VALUATION (C ONT ’ D ) 7

O BJECTIVES SETTING The forecasts of market and sales will be the guidelines to determine the – objectives – marketing strategy and – Programme An example of a specific statements are: decrease the cost of the sales force as a percentage of sales, improve advertising awareness by 5% amongst the target age or improving company image by 2% in the general public. 8

These statements have to be – quantified and – a time horizon has to be set SMART objectives – Specific – Measurable – Attainable – Realistic – Timebound O BJECTIVES SETTING ( CONT ’ D ) 9

R ESEARCH AND DESIGNING OF STRATEGIES After the objectives have been approved the process of determining target markets is initiated Serving the total market is often impossible The STP process fits in the strategic planning process STP will be discussed in later sessions 10

S TRATEGIC MARKETING PROGRAMME The last step of the strategic marketing planning process is the – formulation of a strategic marketing plan – budget for each target market, Both have to be approved by the organisation’s board of directors Specific formulation of the marketing mix is undertaken Concepts and specific techniques, will work equally well whether they are directed at goods or services 11

In particular, developing a marketing strategy is much the same for goods and services, in that it involves – selecting target markets and – formulating a marketing mix. Theodore Levitt suggested that – Instead of talking of 'goods' and of 'services', – Better to talk of 'tangibles' and 'intangibles'". S TRATEGIC MARKETING PROGRAMME ( CONT ’ D ) 12

Marketing a physical product is often more concerned with – intangible aspects (frequently the `product service‘ elements of the total package) than – with its physical sales after service is very important in service sector properties Marketing tactics will be developed besides the action programmes, detailing what are to be done, when by whom at what cost and over what period of time S TRATEGIC MARKETING PROGRAMME ( CONT ’ D ) 13

When the objectives have been set, the marketing managers have to refine the strategic marketing plan – will have a 5-10 year timeframe The annual marketing plan – has a one year timeframe Turn it over to the operational marketers to implement S TRATEGIC MARKETING PROGRAMME ( CONT ’ D ) 14

S UMMARY Ansoff’s Matrix The 5 M’s SWOT-Analysis Implementation, Analysis, Control & Evaluation Objectives setting Research and designing of strategies Strategic marketing programme 15

T HANKYOU 16