Marketing and Organisational Growth Opportunities Essay

Submitted By qrty
Words: 540
Pages: 3

Lecture 1 – Marketing Analysis & Planning
Challenges of Planning
Articulating growth opportunities
Linking to financials.
Decision analysis for marketing mix decisions

Strategy Perspectives

Mintzberg 5 P’s of Strategy
1. Plan: In advance and application of planning tools and techniques. Rational process
2. Ploy: Outsmarting the competition. Disrupt, dissuade and discourage. Game theory, scenario planning.
3. Pattern: Past success > future success. CCA
4. Position: Relationship with/in environment. 5 Forces, CCA.
5. Perspective: Bringing organisation culture and thinking to bear

Strategic Marketing Planning Process (Implementation)
1. Defining the SBU’s mission and goals.
2. Identifying and framing organisational growth opportunities.
3. Formulating product-market and competitive strategies to exploit opportunities.
4. Budgeting marketing, production and financial resources.
5. Developing reformulation and recovery strategies.

Defining the organisation’s business, mission and goals
A firm defines its business by:
The customers served and their needs
The means or technology used to satisfy needs
Consists of a written statement that:
Underscores the scope of an organisation’s operations
Reflects management’s vision of the organisation
Describes an organisation’s purpose
Crystallises the organisation’s long-term direction and character
Helps identify and evaluate product-market opportunities
Inspires employees
Provides direction for goal-setting
Applies to not-for-profit organisations
Convert the mission into tangible actions and results to be achieved by a specified time frame
Divided into three categories
“How will we do production objectives, to achieve marketing objectives, for financial objectives”
Production objectives
Manufacturing and service capacity
Product and service quality
Operand resource – things that have something done to them to produce an output
Operant resource – Skills and competencies
Financial objectives
Return on investment
Return on sales
Shareholder wealth
Cash flow
Marketing objectives
Market share
Sales volume
Marketing productivity
Customer satisfaction
Customer value creation
Customer lifetime value
Examples of Objectives and goals
To become the market leader by the year 2016.
To maintain strong niche orientation.
To capture 10% market share in segment x by 2016.
To position brand x as the …………….
To increase awareness of brand by 10%.
To achieve sales of x dollars