1. Strategic Marketing Planning MKT 6800 Dr. Don Roy

2. Thoughts on Strategy - Sun-Tzu The Art of War c. 500 B.C. “…victorious forces first achieve victory and then conduct battle; losing forces first conduct battle and then seek victory.” “Those known as sophisticated at strategy vanquish those who are easily vanquished.”

3. The Marketing Plan A document that is the output resulting from strategic market planning. Contribution of strategic market planning lies with the planning process itself, not necessarily with the marketing plan. Prepared by marketing personnel who must “sell” the plan to top management.

4. The Role of a Marketing Plan The primary function of the marketing plan is to ensure that you have the resources and the wherewithal to do what it takes to make your product work." - Jay Levinson

5. Types of Marketing Plans 1. Brand marketing plans 2. Product category marketing plans 3. New product plans 4. Market segment plans 5. Geographical market plans 6. Customer plans (for B2B marketers)

6. Marketing Plan Types Example 1. Brand Plan - Sprite 2. Product Category Plan - Diet sodas 3. New Product Plan -Gold Peak Iced Tea 4. Market Segment Plan - Hispanic consumers in U.S. 5. Geographic Plan - China 6. Customer Plan - Kroger

7. Strategic Marketing Planning Process Planning 1. Conduct Situation Analysis (SWOT) 2. Set Marketing Plan Objectives 3. Develop marketing program (i.e., marketing mix- product, price, place, promotion decisions) Process 4. Create timetable for implementation Control 5. Compare results with plans

8. ■ Profit (Achieve 28% gross profit margin during 2015) ■ Sales (Reach $10,000,000 million in sales for 2015) Setting Objectives: What Should Marketing Plan Accomplish?

9. ■ Market Share (Increase market share from 3% to 8% by December 31, 2015) ■ Customer Satisfaction (Increase ACSI score from 77 to 82 in 2015)ACSI score Setting Objectives: What Should Marketing Plan Accomplish?

10. Points to Remember Marketing plan is used to sell top management on resources needed Benefit of writing a marketing plan is more in the process than the output