PRINCIPLE OF MARKETING

Quarter 4- Module 5

Market Analysis,Planning,Implementation and

Control
 The Marketing Process

Marketing isan ongoing businessprocess

that consistsof four distinct stageswhich
are analysis, planning, implementation,
and control.
1.)Analysis - entails the gathering qualitative and quantitative data about
the company's products and possible markets.
2.)Planning - involves constructing strategies that the company can put into
action to attain results in the target market.

3.)Implementation - the success or failure depends more or less on the

work prepared in the analysis and planning stages.

4.)Control - company needs to be responsive of changing market

conditions, competitors, customers and fine-tune the marketing
strategies for that reason.
 The Market Analysis
A successful firm is the one which monitors and manages
efficiently variousforcesliving in itsimmediate and external
environment. These forceswhich affect itsabilityto produce,
promote, distribute, and deliver productsand services to
customersconstitute the marketing environment of the
firm.The marketer should conduct a SWOT analysis, by which
it evaluatesthe company’soverall strengths, weaknesses,
opportunities, and threats.
 Market Planning
It involves deciding on marketing strategies that will help the company
attain its overall strategic objectives. A detailed marketing plan is needed
for each business, product, or brand. A product or brand plan should
contain the following sections: executive summary, current marketing
situation, threats and opportunities, objectives and issues, marketing
strategies, action programs, budgets and controls. A marketing strategy
consists of specific strategies: target markets, positioning, the marketing
mix, and marketing expenditure levels.
 Structure of Marketing Plans
• Executive summary
• Marketing situation (Strategic 4Cs)
• Market, segments/consumers, needs, behavior
• Products= range, profits, trends
• Competition -> reasonable detail
• Distribution channels
• Environmental factors (context)
• Internal analysis(corporation)
• SWOT Analysis
• Objectives+ issues(key challenges)
• Marketing strategy (no mission)
• Action programs(project plan & timetables)
• Budgets(spending & salesforecasts)
• Controls (targets& contingency plan to monitor progress, measure return on marketing investment &
taking corrective action)
 Market Implementation
The processthat turns marketing plansinto marketing actionsin
order to accomplish strategic marketing objectives.
Implementation involvesday-to-day, month-to-month activities
that effectively put the marketing plan to work. Implementation
addressesthe who, where, when, and how. In an increasingly
connected world, people at all levels of the marketing system
must work together to implement marketing strategies and
plans.
Market Control
* The processof measuring and evaluating the resultsof
marketing strategies and plansand taking corrective action
to ensure that marketing objectives are attained.

Company Situation Analysis

* It is a processwhich aimsto disclose all opportunities
(capacity) and the risksinherent in the environment and
assessthe competitivenessof company'sresources and
existing market position.
The analysis is thus reduced to two issues:
• analysisof the market environment (competitive environment, development trends),
• analysisof business marketing resources (staff, market share, the attractiveness of the offer,
the price position of the company, distribution systems, promotional activities)

A market analysis will be made up of a range of factors relevant to the particular situation
under review, but would normally include the following areas:

• Actual and potential market size

• Trends
• Customer
• Customer Segment
• Distribution Channel
Marketing Audit
A marketing audit is a comprehensive examination and analysis of
your marketing activities, goals and objectives.
Components
A successful marketing audit should a couple of things:
• Comprehensive, in that it looks at all the marketing issues of a
business
• Systematic, involving an orderly set of steps • Independent, so
that it cannot be influenced by those who developed and are
implementing the marketing plan
• Periodic, conducted with regular frequency. A good frequency is
yearly or every two years.
Environmental audit: The environmental audit is where you focus on
your customers and the competition.

Strategic audit:This is where you take a look at your current

marketing plan and strategies and how well or poorly they are
performing.
Organizational audit:The organizational audit is an internal look at
the resources available to you and your marketing department
such as finances, time, production, labor, equipment and more.
SWOT Analysis
The SWOT analysis is a tool used in strategic planning to
identify and ultimately, prioritize the organization’ s strengths,
weaknesses, opportunities and strengths.
1.Strengths include internal capabilities, resources& positive situational factorsthat may
help the company serve its customers.
2. Weaknesses include internal limitations& negative situational factors that may interfere
with the company’s performance.
3. Opportunities are favorable factors/trends in the external environment that the
company may be able to exploit to itsadvantage.
4. Threats are unfavorable external factors/trends that may present challenges to its
performance.

Competitor Analysis
Strategic groups are made up of organizations within
the same industry that are pursuing equivalent
strategies, targeting groups of customers that have
similar profiles.
Range of attributes to identify strategic groups:
• Size of the company • Assetsand skills
• Scope of the operation
• Breadth of the product range
• Choice of distribution channel
• Relative product quality
• Brand image

Competitor’s Objectives
Three important factors:
• Whether the competitor’scurrent performance is likely to be fulfilling their objectives.
• How likely the competitor isto commit further investment to the business.
• The likely future direction of the competitor’sstrategy.

Competitor’s current and past strategies

Three area that should be explored:
• Identification of the current markets, or market segments, within which the competitor currently operates.
• Identification of the way the competitor haschosen to compete in those markets.
• Comparison between the current strategy and past strategiescan be instructive.
Competitor Analysis Table:
Main Competitor Products/Market Business Direction Strengths Weakness Competitive
and Current Position
Objectives &
Strategies

Competitor’s Capabilities
A number of areasneed to be examined:
• Management capabilities
• Marketing capabilities
• Innovation capabilities
• Production capabilities
• Financial capabilities
Competitor’s Future Strategies & Reactions:
• Certain Retaliation: The competitor isguaranteed to react in an aggressive manner to
any challenge.
• Failure to React: Competitors can be lulled into a false sense of security in an industry
that, over a long period of time, has seen very little change.
• Specific Reactions: Some competitorsmay react, but only to competitive moves in
certain areas.
• Inconsistent Reaction: These companies’ reactions are simply not
predictable.Competitor’s future strategies and reactions

Problems in Identifying Competitors

• Overlooking smaller competitors by placing too much emphasis on large visible
competitors.
• Focusing on established competitors and ignoring potential new entrants.
• Concentrating on current domestic competitors and disregarding international
competitors.