1. Principles of Marketing Fall 2013 Lecture Slides 2
Instructor : RAZA ILLAHE
Lahore Leads University

2. Strategic Planning
Annual plan—A short-term plan that describes the company’s current situation, its objectives, the strategy and budgets for the year ahead.
Strategic Planning – The process of developing and maintaining strategies to maximize the capabilities of organizations to achieve the objective in the changing marketing environment.
Normally ,long term (for 3-5 years or even more).

3. Mission
A Mission is a statement of organisation’s purpose – what it wants to achieve in the wider environment.

4. Mission Statement Normally tells ….
What is our business?
What are our customers?
If we work for profit or not?

5. Marketing Environment
The organization's marketing environment is made up of:
1. The internal environment e.g. staff , office technology, wages and finance, etc.
2. The micro-environment e.g. , agents and distributors, suppliers, our competitors, etc.
3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors..

7. The Planning Process Situational Analysis Objectives Strategy
Action Plans
Control
Feedback

8. Marketing Audit
It is recommended to do Marketing Audit at various stages.
It is an examination of a company’s environment, strategies
and activities to understand problems and opportunities.
Under findings of a marketing audit, a plan of action is recommended to improve company’s marketing performance.

9. PEST ANALYS
PEST Analysis is the scan of external macro environment of an organisation.
PEST is abbreviation of
POLITICAL & LEGAL,
ECONOMIC ,
SOCIAL ,
TECHNOLOGICAL
We learn about all these above mentioned factors in order to understand the environment where an organisation operates.
Following Slides will present example of a generic PEST Analysis.

10. PEST ANALYSIS Monetary policies Social legislation & regulations
1. Political and Legal
Monetary policies
Social legislation & regulations
Government relationship with industries
Legislation special related to marketing
Employment Laws
Government Stability
And similar factors.

11. PEST ANALYSIS Business cycles marked by recessions & booms
2. Economic
Business cycles marked by recessions & booms
Gross domestic product (GDP)
Real income
Inflation
Interest rates
Seasonal Variations

12. PEST ANALYSIS Change in consumption pattern Difference in life style
3.Social & Cultural
Change in consumption pattern
Difference in life style
Two income families
Changing gender roles
Health & environmental issues
Religious Events

13. PEST ANALYSIS Computer/internet usage E-commerce Change in lifestyle
4.Technological
Computer/internet usage
E-commerce
Change in lifestyle
Research Funding
Consumer Buying
Global Communications
Competition in Development of Technology

14. With the help of PEST Analysis we try to understand that how these external factors are affecting the organisation and can affect in coming future.