FROM MARKETING PLAN TO MARKETING ACTION:Marketers start planning well in advance of the implementation date to allow time for marketing research, analysis, management review, and coordination between departments.
As each action program begins. they monitor ongoing results, investigate any deviation from plans, and take corrective steps, as needed.
Some prepare contingency plans; markers must be ready to update and adapt marketing plans at any time.
The marketing plan typically outlines budgets, schedules, and marketing metrics for monitoring and evaluating results, with budgets, marketers can compare planned and actual expenditures for a given period.
Schedules show when tasks were supposed to be completed and when they actually were.
Marketing metrics track actual outcomes of marketing program to see whether the company is moving forward toward its objectives, as well discuss in chapter 5.
1. The value delivery process includes choosing, providing, and communication superior value.
The value chain is a tool for identifying key activities that create value and costs in a specific business.
2. Strong companies develop superior capabilities in managing core business processes such as new-product realization.
Inventory management, and customer acquisition and retention. In today’s marketing environment, managing these core processes effectively means creating a marketing network in which the company works closely with all parties in the production and distribution chain, from supplies of new materials to retail distributors companies no longer compete-marketing networks do.
3. The corporate strategy establishes the framework within which the divisions and business units prepare their strategic plans.
Setting a corporate strategy means defining the corporate mission, establishing strategic business units (SBUs), assigning resources to each, and assessing growth opportunities.
4. Marketers should define a business or business unit as a customer-satisfying process. Taking this view can reveal additional growth opportunities.
5. Strategic planning for individual businesses includes defining the business mission, analyzing external opportunities and threats, analyzing internal strength, formulating sporting programs, implementing the programs, and gathering feedback and exercising control.
6. Each product level within a business unit must develop a marketing plan for achieving its goals. The marketing pan is one of the most important outputs of the marketing process.