-Marketing audit - Internal and external and the SWOT -Mission statement -Corporate objectives (SMART) ROI, ROCE -(Corporate strategies for production, finance, HR, admin etc. as well as marketing.) · Quantitative and qualitative forecasting · Gap analysis
-Marketing objectives (SMART) sales/profits over 3/5 years e.g. £3 m over 3yrs · Assumptions · Constraints · Critical success factors Marketing strategies (Ansoff’s matrix) Reasons for strategic choice Strategy 1 - market penetration Marketing mix strategic positioning Product - make it better than the competition Price - premium pricing Place - indirect; concentrated distribution Promotion - advertising; personal selling Other resource implications Finance, staff, production etc. etc. Target market Size and customer profile Competition Major players and market share in this market Strategic monitoring and control mechanisms e.g. weekly senior management meetings Strategic marketing objective -e.g. £1m over 3 yrs (this strategy only) Strategy 2 - New product development ‘Use all the same headings identified under strategy 1’ Marketing tactics - take one strategy e.g. strategy 1 and detail the plan rolling it out over the first 6 months adding on a new month as the old month is completed. It should include a detailed: Product Plan Price and finance Place (Distribution) Promotion Plus: Allocation of responsibilities Budgets Performance indicators Monitoring and control mechanisms Timings (following a Gantt chart type formula; an example can be seen on StudentShout.com – marketing research category – creativity section). Marketing Tactics Strategy 1 Tactical objective. E.g. £500,000 over the first 6 months. Allocation of responsibilities Detailed budgets Marketing research Detailed customer profile Detailed product plan Detailed price plan Detailed distribution plan Detailed promotion plan Clear week-by-week performance indicators across all areas Monitoring, Control mechanisms - to see that what needs to happen - happens Contingency plans in case the plan deviates - Feedback and evaluation