Transcript marketing planning - Serwis Informacyjny WSJO

Karolina Janiszewska
MARKETING PLANNING
internal business resources
WSJO HND in Bussiness
Marketing Plan
Business resources can usefully be
grouped under several categories
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•
•
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Financial Resources
Human Resources
Physical Resources
Intangible Resources
WSJO HND in Bussiness
Marketing Plan
Financial Resources
• Financial resources concern the ability of the
business to "finance" its chosen strategy.
• For example, a strategy that requires significant
investment in new products, distribution
channels, production capacity and working
capital will place great strain on the business
finances.
• Such a strategy needs to be very carefully
managed from a finance point-of-view.
WSJO HND in Bussiness
Marketing Plan
An audit of financial resources would include
assessment of the following factors
• Existing finance funds
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Cash balances
Bank overdraft
Bank and other loans
Working capital (e.g. stocks, debtors) already invested in the
business
– Creditors (suppliers, government)
• Ability to raise new funds
– Strength of relationships with existing investors and lenders
– Attractiveness of the market in which the business operates (i.e.
is it a market that is attracting investment generally?)
WSJO HND in Bussiness
Marketing Plan
Human Resources
• The heart of the issue with Human Resources is
the skills-base of the business.
• What skills does the business already possess?
• Are they sufficient to meet the needs of the
chosen strategy?
• Could the skills-base be flexed/stretched to meet
the new requirements? An audit of human
resources would include assessment of the
following factors:
WSJO HND in Bussiness
Marketing Plan
An audit of human resources would include
assessment of the following factors
• Existing staffing resources
– Numbers of staff by function, location, grade, experience,
qualification, remuneration
– Existing rate of staff loss
– Overall standard of training and specific training standards in key
roles
– Assessment of key "intangibles" - e.g. morale, business culture
• Changes required to resources
– What changes to the organisation of the business are included in
the strategy (e.g. change of location, new locations, new
products)?
– What incremental human resources are required?
WSJO HND in Bussiness
Marketing Plan
Physical Resources
• The category of physical resources covers wide
range of operational resources concerned with
the physical capability to deliver a strategy
WSJO HND in Bussiness
Marketing Plan
Physical Resources include
• Production facilities
– Location of existing production facilities; capacity; investment
and maintenance requirements
– Current production processes - quality; method & organisation
– Extent to which production requirements of the strategy can be
delivered by existing facilities
• Marketing facilities
– Marketing management process
– Distribution channels
• Information technology
– IT systems
– Integration with customers and suppliers
WSJO HND in Bussiness
Marketing Plan
Intangible Resources
• It is easy to ignore the intangible resources of a
business when assessing how to deliver a
strategy - but they can be crucial.
WSJO HND in Bussiness
Marketing Plan
Intangibles include
• Goodwill The difference between the value of
the tangible assets of the business and the
actual value of the business (what someone
would be prepared to pay for it)
• Brands Strong brands are often the key factor in
whether a growth strategy is a success or failure
• Intellectual Property Key commercial rights
protected by patents and trademarks may be an
important factor in the strategy
WSJO HND in Bussiness
Marketing Plan
Strategic resource balance sheet
-2
evaluation
-1
0
1
Financial Resources
– Bank overdraft
– Bank and other loans
– Cash balances
Human Resources
– rate of staff loss
– staff experience,
qualification
Physical Resources
Intangible Resources
WSJO HND in Bussiness
Marketing Plan
2
Product Life Cycle
• The stages through which individual products
develop over time is called commonly known as
the Product Life Cycle.
• The classic product life cycle has four stages
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introduction
growth
maturity
decline.
WSJO HND in Bussiness
Marketing Plan
PLC
introduction
growth
maturity
decline
sales
time
WSJO HND in Bussiness
Marketing Plan
Introduction Stage
• At the Introduction (or development) stage market size
and growth is slight.
• It is possible that substantial research and development
costs have been incurred in getting the product to this
stage.
• In addition, marketing costs may be high in order to test
the market, undergo launch promotion and set up
distribution channels.
• It is highly unlikely that companies will make profits on
products at the Introduction Stage.
• Products at this stage have to be carefully monitored to
ensure that they start to grow. Otherwise, the best option
may be to withdraw or end the product.
WSJO HND in Bussiness
Marketing Plan
Growth Stage
• The Growth Stage is characterised by rapid
growth in sales and profits.
• Profits arise due to an increase in output
(economies of scale) and possibly better prices.
• At this stage, it is cheaper for businesses to
invest in increasing their market share as well as
enjoying the overall growth of the market.
• Accordingly, significant promotional resources
are traditionally invested in products that are
firmly in the Growth Stage.
WSJO HND in Bussiness
Marketing Plan
Maturity Stage
• The Maturity Stage is, perhaps, the most common stage
for all markets.
• Iit is in this stage that competition is most intense as
companies fight to maintain their market share.
• Here, both marketing and finance become key activities.
Marketing spend has to be monitored carefully, since
any significant moves are likely to be copied by
competitors.
• The Maturity Stage is the time when most profit is
earned by the market as a whole. Any expenditure on
research and development is likely to be restricted to
product modification and improvement and perhaps to
improve production efficiency and quality.
WSJO HND in Bussiness
Marketing Plan
Decline Stage
• In the Decline Stage, the market is shrinking, reducing
the overall amount of profit that can be shared amongst
the remaining competitors.
• At this stage, great care has to be taken to manage the
product carefully. It may be possible to take out some
production cost, to transfer production to a cheaper
facility, sell the product into other, cheaper markets.
• Care should be taken to control the amount of stocks of
the product. Ultimately, depending on whether the
product remains profitable, a company may decide to
end the product.
WSJO HND in Bussiness
Marketing Plan
BCG Matrix
high
?
STARS
DOGS
CASH
COWS
Market
growth
rate
low
low
high
Market share
WSJO HND in Bussiness
Marketing Plan
All internal company resources
creates strengths or weaknesses
WSJO HND in Bussiness
Marketing Plan