Topic 1 - Continued

Marketing Strategy and Planning Sequences

Strategic Company Planning:

1. Define organisational mission 3. Set up organisational objectives

2. Conduct Situational Analysis 4. Select Appropriate Strategies

LEADS TO

Strategic Marketing Planning:

1. Conduction Situation Analysis 4. Select market target and determine demand

2. Develop Marketing Objectives 5. Design Strategic Marketing Mix

3. Determine positioning/differential advantage

LEADS TO

Annual Marketing Planning:

Prepare annual marketing plan for each major project and company division

Marketing objectives must follow specific rules/guidelines: SMART

Specific

Measurable

Actionable/Achievable

Relevant (to your mission, vision and direction)

Time Bound

Implementation and Control are important aspects of marketing strategy. They need to be conducted slowly and carefully:

"A mediocre plan well implemented will always achieve more than a brilliant plan poorly implemented"

There should be a close relationship between planning, implementation and evaluation in the strategic management process:

Planning - Deciding now what the firm intends to do later, including how and when it is going to do it

Implementation - Putting into action the activities outlined in the plan to support the strategy and tactics

Evaluation - Checking the degree to which the organisation has reached the goals outlined in its plan.