Analysis for Marketing Planning Defining the Market Marketing Planning A written document containing a specific blueprint for business/business unit’s marketing program and allocations for a specific period of time. Corporate strategic planning Group or sector planning SBU planning Annual marketing plan Marketing Planning Sequence Collect data Analyze data Develop objectives, strategies, programs Develop financial documents Negotiate final plan Measure progress toward objectives Audit Marketing Plan Components Executive summary Situation analysis Marketing objectives Marketing strategy Marketing tactics Industry analysis Competitor analysis Customer analysis Demand analysis & forecasts Product/brand management Pricing management Distribution management Communications management Budget Implementation and control plan Contingency plan Market Definition Methods for Determining Competitors Defining market by levels of competition Identify levels or dimensions of competition Three dimensions of competition: Works from broad to narrow Identifies all possible opportunities, enabling business to be proactive and to anticipate consumer needs First Dimension: Identifies competing product classes serving generic need. Example: Generic need = thirst Competing product classes = milk, soda, coffee, tea, juices, water, etc. Second Dimension: Identifies competing product forms within product class. Example: Product class = coffee Competing forms = whole bean, ground, instant, coffee bags, etc. Third Dimension: Identifies competing brands within product form. Example: Product form = whole bean Competing brands = Folger’s, Starbuck’s, Millstone, Gevalia, etc. Marketing Definition Thirst Broad Milk Soda Ground Narrow Folger’s Coffee Whole Bean Starbuck’s Instant Millstone Tea Coffee Bag Gevalia Juice Product form competition: Diet colas Product category competition: Soft drinks Generic competition: Beverages Budget competition: Food & entertainment Defining market using customer-based data More Gentle Less Strong Anacin 3 Tylenol Reg. Str. Bayer Anacin Bufferin Tylenol Extra Str. Excedrin Anacin Max. Less Gentle More Strong Customer judgment Similarity of consideration sets Product deletion Substitution in use Brand Molecule Portfolio Conceptual map of company’s brands from customers’ perspective Choosing Competitor Focus Depends on several factors: Product Life Cycle