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Managing the Marketing Effort. Nov 20th, 2009 2 of 15 This section covers: •Marketing organisation/management •Marketing implementation – drawing up a marketing plan •Controlling marketing activity Marketing Management Decisions When a company has decided what its basic goals and targets are, it needs a marketing plan This plan should give a clear guideline about how it should move forward with its business VS $120 Billion+ Revenues (2008) $100 Billion Revenues (2008) Marketing Organisation & Management Analysing Marketing Opportunities The Marketing Environment Market Research & Information Systems Market Segmentation, Tragetting & Positioning Marketing Mix Development Product Decisions Pricing Decisions Promotion Decisions Place Decisions Marketing of Services Marketing Management Decisions SWOTing your company Marketing Management Responsibilities • • To Identify Customer Needs To Satisfy Customer Needs – achieved through the Marketing Mix / the 4Ps Have Strategic Vision – what business are you in? There is a danger of Marketing Myopia (Levitt 1960). This refers to not being able to see the breath and width of your business’ opportunities. Environmental Management Environmental Management involves marketers’ efforts toward achieving organizational objectives by predicting and influencing the competitive, politicallegal, economic, technological, and socialcultural environments. Tools used in environmental management are: Michael Porter’s 5 Forces, PEST & SWOT Tool 1: Michael Porter’s 5 Forces (these 5 forces determine industry profitability) 3. Threat of new entrants 1. Industry competitors 5. Power of buyers Rivalry among existing firms 2. Threat of substitutes 4. Power of suppliers Tool 2: PEST- Analysis Political Economic Social Technical Give examples of each. These are the macro-environmental factors used in the environmental scanning component of strategic management. Tool 3: SWOT-Analysis One tool that helps with the investigation of your organisation is the SWOT analysis Strengths (internally) Weaknesses (internally) Opportunities (in external environment) Threats (in external environment) SWOT Sample – Car industry Marketing Plan A marketing plan is a written document that outlines the necessary actions to achieve one or more marketing objectives. It usually spans a period of between 1 and 5 years. Contents of Marketing Plan Executive Summary Situational Analysis Opportunities / Issue Analysis SWOT Analysis Objectives Strategy Action Programme (the operational marketing plan itself for the period under review) Financial Forecast Controls Sample Marketing Plan http://www.bankofireland.ie/html/g ws/includes/business/pdfs/market_ plan.pdf Plan doesn’t have to be in standard format http://www.tourismireland.com/CM SPages/GetFile.aspx?guid=2e6477a a-98ef-48ac-a2d8-4b0ad1b018e3 Control Marketing Activities The Marketing Control Process Marketing Objectives Example: money for trade show vs sales from leads Performance Standards - measure Compare results against standard Corrections & Alterations Next Week – Final Slides Services Marketing Specific characteristics of Services The Servuction System Model The Five Gap Model of Service Quality Defection Management and Customer Retention Management