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Transcript
Ashesi University
COURSE TITLE : MARKETING
SEMESTER : FIRST, 2009/2010
MODULE : Marketing Planning
Lecturer: Ebow Spio
Marketing Planning
A Marketing Plan is a plan which outlines
how an organization’s strategic objectives
will be achieved through specific marketing
strategies and tactics
Marketing Planning
Marketing Planning is a logical sequence of events that
leads to the setting of marketing objectives and
formulation of plans to achieve the objectives.
Broad Outline
• Analysis
• Planning/Strategy development
• Implementing
• Controlling
Marketing Planning
Marketing Analysis
Is the systematic examination or analysis of a firm’s marketing
environment, objectives, strategies and activities, with a view to
identifying issues, problem areas and opportunities.
Macroenvironment consists of broad environment issues
that may affect business performance e.g. political/legal,
economic, social/cultural, technology, demographic
Microenvironment consists of the actors in the firm’s immediate
environment that affect its capabilities to operate effectively in
its chosen markets. The key actors are customer market,
distributors, suppliers, competitors, company, publics etc
NB: Need to highlight market size, growth rates, trend etc 2-34
Marketing Planning
Marketing Analysis
A SWOT analysis provides a simple method of synthesizing
the results of the marketing analysis.
SWOT analysis that evaluates the company’s:
• Strengths
• Weaknesses
• Opportunities
• Threats
2-34
Marketing Planning
Marketing Analysis
Strengths include internal capabilities, resources, and
positive situational factors that may help to serve
company customers and achieve company
objectives
Weaknesses include internal limitations and negative
situational factors that may interfere with company
performance
2-35
Marketing Planning
Marketing Analysis
Opportunities are favorable factors or trends in the
external environment that the company may be able to
exploit to its advantage
Threats are unfavorable factors or trends that may
present challenges to performance
2-36
Marketing Planning
Market Planning
Planning is the development of strategic and marketing
plans to achieve company objectives
Marketing strategy consists of the specific strategies
for target markets, positioning, the marketing mix,
and
marketing expenditure levels
2-37
Marketing Mix :The 8Ps of Services
Marketing
• Product Elements
• Place and Time
• Price and Other User Outlays
• Promotion and Education
• Process
• Physical Environment
• People
• Productivity and Quality
Fig 1.9 Working in
Unison: The 8Ps of
Services Marketing
Marketing Planning
Market Planning
•
•
•
•
•
•
•
•
Sections of a marketing plan include:
Executive summary
Current marketing situation
Threats and opportunities
Objective and issues
Marketing Strategy : Target Market, Positioning and
Marketing Mix
Action Plan
Budgets
2-38
Controls
Marketing Planning
Marketing Implementation
Implementing is the process that turns marketing plans into
marketing actions to accomplish marketing objectives
2-39
Marketing Planning
Marketing Control
Controlling is measuring and evaluating results and
taking corrective action as needed
Operational Controls or Short Term control systems
Plots results against objectives on monthly, quarterly or
annual basis.
Measures include sales, profits, costs and cash flow
2-45
Marketing Planning
1.
2.
3.
4.
5.
6.
The rewards of Marketing Planning
Consistency : Focal point for decisions and actions
Encourages monitoring of change
Encourages organizational adaptation: Firm should
adapt to match its environment
Stimulates Achievement : Focuses on objectives,
strategies and results
Aiding resource Allocation
Promotes the search of competitive advantage
2-45
The 8Ps of Services Marketing:
(1) Product Elements
• Embrace all aspects of service performance that create value
• Core product responds to customer’s primary need
• Array of supplementary service elements
– Help customer use core product effectively
– Add value through useful enhancements
• Planning marketing mix begins with creating a service concept
that:
– Will offer value to target customers
– Satisfy their needs better than competing alternatives
The 8Ps of Services Marketing:
(2) Place and Time
• Delivery decisions: Where, When, How
• Geographic locations served
• Service schedules
• Physical channels
• Electronic channels
• Customer control and convenience
• Channel partners/intermediaries
The 8Ps of Services Marketing:
(3) Price and Other User Outlays
•
•
Marketers must recognize that customer outlays involve more
than price paid to seller
Traditional pricing tasks:
– Selling price, discounts, premiums
– Margins for intermediaries (if any)
– Credit terms
• Identify and minimize other costs incurred by users:
– Additional monetary costs associated with service usage
(e.g., travel to service location, parking, phone, babysitting,
etc.)
– Time expenditures, especially waiting
– Unwanted mental and physical effort
– Negative sensory experiences
The 8Ps of Services Marketing:
(4) Promotion and Education
• Informing, educating, persuading, reminding customers
• Marketing communication tools
–
–
–
–
Media elements (print, broadcast, outdoor, retail, the Internet, etc.)
Personal selling, customer service
Sales promotion
Publicity/PR
• Imagery and recognition
– Branding
– Corporate design
• Content
– Information, advice
– Persuasive messages
– Customer education/training
•
The 8Ps of Services Marketing:
(5)
Process
How firm does things may be as important as what it
does
• Customers often actively involved in processes,
especially when acting as co-producers of service
• Process involves choices of method and sequence in
service creation and delivery
– Design of activity flows
– Number and sequence of actions for customers
– Nature of customer involvement
– Role of contact personnel
– Role of technology, degree of automation
• Badly designed processes waste time, create poor
experiences, and disappoint customers
The 8Ps of Services Marketing:
(6) Physical Environment
• Design servicescape and provide tangible
evidence of service performances
• Create and maintain physical appearances
– Buildings/landscaping
– Interior design/furnishings
– Vehicles/equipment
– Staff grooming/clothing
– Sounds and smells
– Other tangibles
• Manage physical cues carefully— can have
profound impact on customer impressions
The 8Ps of Services Marketing: (7) People
• Interactions between customers and contact
personnel strongly influence customer perceptions
of service quality
• The right customer-contact employees performing
tasks well
– Job design
– Recruiting
– Training
– Motivation
• The right customers for firm’s mission
– Contribute positively to experience
of other customers
– Possess—or can be trained to
have— needed skills (coproduction)
– Can shape customer roles and
manage customer behavior
The 8Ps of Services Marketing:
(8) Productivity and Quality
• Productivity and quality must work hand in hand
• Improving productivity key to reducing costs
• Improving and maintaining quality essential for building
customer satisfaction and loyalty
• Ideally, strategies should be sought to improve both
productivity and quality simultaneously—technology
often the key
– Technology-based innovations have potential to
create high payoffs
– But, must be user friendly and deliver valued
customer benefits