Chapter 2 Marketing Planning Good Strategy Doesn't Just Happen

Marketing
Strategy &
Management
© Diane M. Phillips
Chapter 2
Marketing planning: Good
strategy doesn’t just happen
Learning objectives
1. Sketch out the critical steps involved in creating a

marketing plan.
2. Describe the critical importance of the value proposition to
marketing planning.
3. Compare and contrast the three methods by which the
marketing team can draw inspiration for the development of
marketing objectives.
4. Create an argument for how the marketing strategy would
benefit from utilizing the UN’s sustainable development
goals.
5. Develop a set of meaningful marketing objectives using the
SMART format.
Marketing Strategy & Management | © Diane M.
3
Phillips 2023 | SAGE Publishing
1. The marketing plan (1 of 20)
• The marketing strategy supports and

helps fulfill the organizational strategy.
– It consists of ‘big ideas’ and goals
that the marketing team wishes to
achieve from a competitive, customer
and market standpoint.
• Marketing plan – a deliberate set of
steps that are designed to achieve the
marketing strategy.

4
a. Situation analysis –
determines how well the
organization is set up to
implement a set of
objectives.
– SWOT analysis – helps
identify internal strengths
and weaknesses, as well
as external threats and
opportunities.

5
a. Situation analysis (cont.):

– PESTLE analysis – a
careful consideration of the
political, economic,
sociocultural, technological,
legal and environmental
influences on the marketing
team’s ability to deliver the
value proposition to the
consumer.

6
b. Climate change as a threat

– Increasing levels of CO2 are accumulating in the
atmosphere – we are now seeing the highest levels of
CO2 in at least the 800,000 years.
– CO2 increases the warming of the planet – longer heat
waves, faster ice melt, stronger storms, more intense fires
and rising seas.
– Human impacts are becoming more severe – crop loss,
retreat from the coasts, damage to infrastructure and
wide-spread extinction of non-human species.

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c. Climate action as an opportunity

– for organizations that have already made the hard
choices to be more sustainable, environmental regulations
could open up new markets that were not previously
accessible.
– a pool of hard-working and highly-motivated talent exists
in the sustainability space.
– because there is growing consensus among consumers
that organizations should shoulder more responsibility in
addressing the climate crisis, any organization that steps
into the sustainability space will likely be rewarded for its
efforts.
9
d. Target Market Analysis – An in-depth look at the

individuals in the target market, with the purpose of
identifying the primary forces that impact decision-making.
– Internal influences on the consumer – primarily concerned
with the psychological influences on the consumer.
– External influences on the consumer – primarily
concerned with the social and cultural influences on the
consumer.
• The Target market is the subset of individuals in the overall
market to which the organization will direct its marketing
efforts.

10
e. Marketing objectives – a clear statement of the results

that the marketing team expects to achieve.
– Clarification to the rest of the team and stakeholders.
– Rationale for the allocation of the budget.
– A benchmark for assessment.
f. Generating Inspiration for marketing objectives
– BCG Growth Matrix
– Blue Ocean Strategy
– Sustainable Development Goals (SDGs)

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1) BCG Growth Matrix – helps

identify potential areas for
market growth based on market
share and market growth rate.
– Stars – ideal position.
– Cash cows – favoured position.
– Question marks – unclear what
the future may hold.
– Dogs – the most unattractive
position.

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2) Blue Ocean Strategy – stresses the importance of

avoiding direct competition in the marketplace and,
instead, identifying uncontested space in which to do
business. With Blue Oceans, demand is created, rather
than fought over.

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• Advantages to employing a Blue Ocean Strategy:

– As the first entrant to the new market, your organization is
the one that establishes the parameters by which value is
delivered to consumers.
– Barriers to entry are erected.
– Your product is differentiated from the competition in the
minds of consumers.
– Brand equity is strengthened. Brand equity is the
monetary value of the brand, over and above another
unbranded version of the product.

15
3) Another way to generate inspiration for marketing

objectives: The Sustainable Development Goals
(SDGs) – designed to promote global sustainable
development and address some of the most pressing
issues of our time by 2030.
– 17 goals that UN member states adopted in 2016.
– The goals are interconnected and interdependent.
– The goals provide strategic direction for the global
community.
– Potential of $12 trillion in market opportunities each year.

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g. Constructing the marketing objectives

– Big, hairy, audacious goals (BHAGs) – objectives
should be bold and inspirational.
– SMART objectives – objectives should be specific,
measurable, attainable, realistic and time-bound.
 For the measurable criterion, the marketing team will
identify important key performance indicators
(KPIs). Common KPIs are market share, sales and
profit.

18
h. Marketing strategy – here, we use the 4 elements of

marketing mix to deliver the value proposition:
– Product
– Price
– Place
– Promotion
• Each element of the marketing mix impacts and is impacted
by each other element.

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i. Facilitating successful strategy execution – in this

step of the marketing plan, we develop a set of
procedures for the successful implementation and control of
the plan.

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• Finally, the experiences and insights that were used during the
creation and implementation of the marketing plan must be
leveraged to help inform the creation of the next set of
objectives.
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2. Achieving synergies (1 of 5)
• Marketing planning that incorporates sustainability is, simply

put, better planning. 1 + 1 = 3
• According to one study, for businesses that incorporated
sustainable business practices, 88% had better operational
performance and 80% demonstrated higher stock
performance.

24
a. Challenging existing paradigms, such as

1) there is a clear difference between for-profit and not-for
profit organizations.
– In actuality, this boundary has become blurred.
2) there is a stark distinction between B2B and B2C
activities.
– In actuality, this is no longer true, especially with a
truly customer-centric approach.

25
b. The Triple Bottom Line
1) The new environmental paradigm – shifts our thinking by
acknowledging that human health and welfare depend on a
healthy environment.
• From a strategic standpoint, organizations that are more
sustainable are better able to deliver the value proposition
because they:
– are more innovative
– have lower costs
– are better able to attract and retain talent
– are better prepared to comply with environmental regulations
– become differentiated in the minds of consumers

26
b.The Triple Bottom Line
2) The Triple Bottom Line – argues that organizations should
simultaneously work to benefit social, economic, and
environmental objectives.
– People – what will be the impact experienced by a wide variety
of different groups of people, such as the neighbouring
community, workers, company employees and customers?
– Planet – what will be the impact of this marketing initiative on a
variety of natural resources, such as air quality, water quality,
natural habitats, native species and the waste stream?
– Prosperity – what will be the impact on a variety of other
economic outcomes, such as profit, market position, brand
equity, customer satisfaction, competitive position,
innovativeness and customer relationships?
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Chapter summary
• There are 5 critical steps in creating the marketing plan: situation

analysis, target market, marketing objectives, marketing strategy and
facilitating successful execution.
• A well-executed marketing plan does not simply achieve a set of
objectives designed to deliver value to the target market. It helps us do
it better than the competition.
• There are 3 key methods by which the marketing team can draw
inspiration for the development of marketing objectives: BCG Growth
Matrix, Blue Ocean Strategy and the SDGs.
• Sustainability is a strategic imperative for an organization. Sustainable
organizations become more innovative, lower costs, are better able to
attract and retain talent, are better prepared to comply with
environmental regulations and are differentiated in the minds of
consumers.
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Marketing

1. Sketch out the critical steps involved in creating a

• The marketing strategy supports and

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

a. Situation analysis (cont.):

Marketing Strategy & Management | © Diane M.

b. Climate change as a threat

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

c. Climate action as an opportunity

d. Target Market Analysis – An in-depth look at the

Marketing Strategy & Management | © Diane M.

e. Marketing objectives – a clear statement of the results

Marketing Strategy & Management | © Diane M.

1) BCG Growth Matrix – helps

Marketing Strategy & Management | © Diane M.

2) Blue Ocean Strategy – stresses the importance of

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

• Advantages to employing a Blue Ocean Strategy:

Marketing Strategy & Management | © Diane M.

3) Another way to generate inspiration for marketing

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

g. Constructing the marketing objectives

Marketing Strategy & Management | © Diane M.

h. Marketing strategy – here, we use the 4 elements of

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

i. Facilitating successful strategy execution – in this

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

• Marketing planning that incorporates sustainability is, simply

Marketing Strategy & Management | © Diane M.

a. Challenging existing paradigms, such as

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

Marketing Strategy & Management | © Diane M.

• There are 5 critical steps in creating the marketing plan: situation

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