Marketing Mix, Planning, Research & Implementation

Marketing 304

Where are the Marketing Jobs?

Manufacturer/Producer

Target CustomerConsumers, Businesses, InstitutionsLocal, Regional, National, Global

Whslrs

Rtlrs

Distrs

Whslrs

Rtlrs

Direct

Suppliers

A Contemporary Organization PRESIDENTPRESIDENT

VicePresident

Production

VicePresident

Production

VicePresidentMarketing.

VicePresidentMarketing.

VicePresidentFinance

VicePresidentFinance

VicePresidentHuman

Resources

VicePresidentHuman

Resources

SalesSales MarketingResearch

MarketingResearch

ProductPlanning

ProductPlanning

PhysicalDistribution

PhysicalDistribution

MarketingComm.

MarketingComm. Customer

Service

CustomerService

•Advertising•Public Relations•Sales Promo•Special Events Fig. 21-1

VicePresidentInfo Tech

VicePresidentInfo Tech

Step OneThe Target Market -- Needs, Wants, Expectations

Step TwoThe Positioning -- The Story

Brand Image & Competitive Advantage

Step Three“The 4 P’s”

Product ---- Price ---- Place ---- Promotion

The Marketing Mix

The Marketing Mgm’t Process

PLANNING

EVALUATION

IMP

LE

ME

NT

AT

ION

Conduct the situation analysis Develop marketing objectives Design marketing mix strategies and tactics

Select target markets and measure market demandDetermine positioning (brand image and competitive

advantages)Decide “4P’s” (product, price, place and promotion)

Implement marketing mix strategies and tactics Continuously evaluate . . .

performance toward reaching objectiveschanges in the situation analysis

Make necessary controls/changes to objectives, strategies, and/or tactics

Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act

The Marketing Management Process

PLANNINGPLANNINGAnalyze situationAnalyze situation

Set objectivesSet objectivesSelect strategies Select strategies

and tacticsand tactics

IMPLEMENTATIONOrganize

StaffDirect

EVALUATIONCompare

performance with goals

Marketing Information System (MkIS)Feedback, so management can adapt future plans and theirimplementation to the changing environment

Fig. 20-1

Scan -- Focus -- Act -- Scan -- Focus -- Act

MkIS

Systems and Proceduresfor Data:

• Collection• Analyses• Storage

•Database

• Retrieval and•Dissemination

MARKETINGMANAGER

Requests for information

Regular andcustomized reports

The Structure of a MkIS

DSS

Fig. 7-1

Planning begins with The Situation Analysis

The Situation Analysis is research designed to: gather information regarding the environmental

factors/forces influencing our marketing decisions, then analyzing that information, and forecasting the impact of whatever trends the

analysis suggests.Those factors/forces may be:

Macro or Micro External or Internal Uncontrollable or Semi-Controllable

COMPANY’SMARKETINGPROGRAM

Demo-graphics

Economiccondition

s

Politicaland legal

forces

Social and cultural

forces

Competition

Technology

ExternalMacroenvironmental Forces

Figure 2-1

COMPANY’SMARKETINGPROGRAM

SuppliersMarketing

inter-mediaries

Marketinginter-

mediaries

Themarket

External Microenvironments Forces

Figure 2-2

COMPANY’SNONMARKETING

RESOURCES

Financialresources

Researchand

development

Com

pany

imag

eLocation

Pro

duct

ion

faci

litie

s

Hum

an

resources

InternalMicro-Forces

Conduct the situation analysis Develop marketing objectives Design marketing mix strategies and tactics

Select target markets and measure market demandDetermine positioning (brand image and competitive

advantages)Decide “4P’s” (product, price, place and promotion)

Implement marketing mix strategies and tactics Continuously evaluate . . .

performance toward reaching objectiveschanges in the situation analysis

Make necessary controls/changes to objectives, strategies, and/or tactics

Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act

Define the objective

Conduct situation analysis

Conduct informal investigation

Plan and conduct formal investigation

Analyze data and report results

Conduct follow-up

Furtherstudy

needed?

End project and

report results

No

Yes

MarketingResearch Procedure

Fig. 7-3

Marketing Research

Conduct an informal investigation --talk to people

Conduct a formal investigation 1st -- Secondary research—data already

gathered for some other purpose. 2nd -- Primary research—new data

gathered specifically for the project at hand.

Secondary data is found in:

LibrariesGovernment documentsTrade and professional associationsPrivate business firms--syndicated sources Internet, magazines, newspapers, radio and

television stationsUniversity research organizationsCompany files and databases

Primary data is gathered using:

Quantitative Research -- Surveys, Questionnaires Projects findings from the sample to the

population from which sample was taken.Qualitative -- Focus groups, depth studies

Psychological interpretations of the participants’ responses.

Experiments Laboratory Field -- Test markets

Observation Personal Mechanical

PLANNING

EVALUATION

IMP

LE

ME

NT

AT

ION

The Marketing Mgm’t Process

Implementation ComprisesThree Activities:Organizing the marketing effort

Design the marketing organization Assign people/dpt’s. to tasks and roles Define the relationship between marketing

and the other functional divisions of the firmStaffing the organization

“People first, strategy second”Directing the execution of marketing plans

Carry out strategies and tactics Direct the efforts of people Adjusting to changes

(Continuous) Evaluation

Market Evaluation On-going situation analysis updating

Performance versus Objectives Evaluation On-going profit, sales, and market share

analysis On-going marketing audit/cost analysis

Is marketing research valuable?

A survey of 100 consumer product brand managers revealed:

Research can predict marketplace

performance.

Research can uncover new customer

needs.

My company will change directions

if market research indicates it is

warranted.

Agree Disagree

59%

41%

60%

41%

59%

40%

Rank in order of importance.

Beginnings

Planning

Ends

Evaluation--Reaction

Mid

dle

sIm

ple

men

tati

on

The End

Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act

Do Situation Analysis/Marketing ResearchResearch company’s Marketing Environment

Develop Marketing Objectives & ForecastsSet Marketing Mix Strategies & Tactics

Select and measure target market(s)Positioning

Brand ImageCompetitive Advantage(s)

Product -- Price -- Place -- PromotionImplement Marketing Mix Strategies/TacticsMonitor Situation & Performance

Marketing Information System (MkIS)