Module 1 - Lecture 4

Marketing Management
The Marketing Process

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Marketing Plan: What is it?
• A road map that:
– surveys the business environment,
– describes problems, threats and opportunities
in the industry,
– contains a marketing strategy, and
– has financial projections / budgets.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Planning Coordination
Elements of a Marketing Plan
• Environmental analysis: PESTLE, SWOT
• Understanding customers: Buyer Behaviour
• Setting strategy: Segmentation, targeting and
positioning
• 4P’s/7P’s Marketing Mix: Marketing Programme

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Planning Framework
Phase 1. Mission
One –
Goal
Setting
2. Corporate Objectives

3. Marketing Audit • Environmental

analysis: PESTLE,
Phase Two
– Situation 4. SWOT Analyses SWOT
Review
• Understanding
5. Assumptions
customers: Buyer
Behaviour
IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Planning Framework
1. Mission

6. Marketing objectives = Core

Phase & strategies strategy
Three – • Segmentation,
Strategy 7. Estimated results
Formation targeting and
8. Alternative plans &
mixes positioning
• 4P’s/ 7P’s Marketing
Phase Four
– Resource
9. Budget Mix
Allocation
& 10. 1st yr detailed
Monitoring implementation plan

Measurement
& Review
IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Mission
• Should contain:
 brief overview of the proposed plan
 main objectives & recommendations
 clear indication of timescales involved
 And allow senior management to quickly
grasp the pla ’s ajor poi ts

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Objectives
• Specific long-term objectives for the company
and organization as a whole
• Like all objectives, should be SMART:
• Specific, Measurable, Actionable, Realistic,
Timed

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Marketing Audit
• Analyzing and evaluating the marketing strategies,
activities, problems, goals, and results.
• Check all the aspects of business directly related to
marketing department.
• Also done during the implementation of plan.
• Clarifies opportunities and threats, so that
required alterations can be done to the plan if
necessary.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
SWOT
INTERNAL FACTORS EXTERNAL FACTORS
past and present past and present ACTION:

STRENGTHS OPPORTUNITIES
Need to be identified
Build on them Exploit them if
and researched via
Emphasise in possible
environmental
promotional scanning and analysis
campaigns
WEAKNESSES THREATS
Eliminate them if Develop contingency Must be addressed by
possible plans Marketing Plan
decisions
Circumvent them
IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Marketing Assumptions
• A good marketing plan is based on deep
customer understanding and knowledge.
• Target Buyer Assumptions - assumptions
about who the target buyers are.
• Messaging/Offering Assumptions -
assumptions about what customers think are
the most important features of product to be
offered.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Objectives and strategies
• Includes:
target market
positioning
marketing mix
customer service
research and development
marketing research

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Forecast Expected Results
1. Forecasting Customer Response
2. Forecasting Marketing cost
3. Forecasting the Market
4. Forecasting the Competition

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Create Alternative Plan
• A alternate marketing plan is
created and kept ready to be
implement at the place of
primary marketing plan if the
whole or some part of the
primary marketing plan is
dropped.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Marketing Budget
• The marketing budget is the process of
documenting the expected costs of the
proposed marketing plan.

• One common method to allocate marketing

budgeting is based on a percentage of revenue.

• Other methods are - comparative, all you

can afford, and task method.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Implementation & Evaluation
• Peter Drucker observed that a plan is nothing
unless it degenerates into work.

• Yet a poor plan with great implementation is

no better than a good plan with poor
implementation.

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net
Assignment

• Prepare SWOT analysis of any one company

of your choice?

IMBA Semester VI –
Marketing Management Prof. Subhasish Mitra www.atmiya.net