strategic planning

Examples of strategic planning in the following topics:

• The Marketing Plan

  • People sometimes confuse marketing plans with strategic planning because the two are so tightly intertwined.
  • At other times, a marketing plan is created that drives the company's strategic planning.
  • It is important to realize, though, that strategic planning and a marketing plan are two different things.
  • Probably the easiest way to remember the difference between strategic planning and a marketing plan is to consider their starting points.
  • Strategic planning defines a company's strategy or direction, and the decision of how to allocate the resources essential to pursuing the strategy.

• Customer Excellence

  • Obtaining customer feedback to ensure customer satisfaction and loyalty is essential to any marketing plan or strategic planning process.

• GE Approach

  • The GE / McKinsey matrix is a model used to assess the strength of a strategic business unit (SBU) of a corporation.
  • The GE / McKinsey matrix is a model used to assess the strength of a strategic business unit (SBU) of a corporation.

• Service Marketing Management and Metrics

  • In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning.
  • Traditionally, this has involved implementation planning across the "4 Ps" of marketing: product (or service) management, pricing , place and Promotion.
  • This research, along with an assessment of the business' own strengths and weaknesses, go into a marketing plan used to launch future marketing programs and initiatives.
  • Overseeing the successful development and execution of the marketing plan falls under service marketing management roles.
  • The Marketing Metrics Continuum provides a framework for categorizing metrics from the tactical to strategic.

• Influences on Business Buying

  • Firms can suffer from strategic inertia, or the automatic continuation of strategies unresponsive to changing market conditions.
  • Organizations that fall victim to strategic inertia believe that one way is the best way to satisfy their customers.
  • Such strategic inertia is dangerous since customer needs as well as competitive offerings eventually change over time.
  • Thus, in environments where such changes happen frequently, the strategic planning process needs to be ongoing and adaptive.

• Streamlining Distribution

  • It should be mentioned that the scope of the planning of logistics and distribution processes is not limited only to the planning of production, transportation, or distribution.
  • Sales planning can be defined as a process in which demand forecast is converted into a feasible operative plan that can be used by producers and salespersons.
  • Supply chain planning compares the demand forecast with the actual demand in order to develop a "master plan" (schedule), based on the multi-level sources and critical materials.
  • The term production planning means the development of a master plan for single factories (producers).
  • Distribution planning means the development of a feasible and viable plan of distributing end products from the producers (via logistics and distribution centers, warehouses, or crossdocking) to end users.

• Selecting Target Markets

  • Strategic targeting can optimize the return on investment by selecting the best segments in the market for return on investment.
  • These groups of interested consumers within the broader market is usually referred to as a target market, and should be a much more strategic place to invest capital in terms of marketing distribution.
  • At this point, with the available market data at hand, it's fairly simple to assess internal resources and external opportunities to optimize the marketing plan.
  • The key here is to get the greatest return on marketing spend by strategically selecting the appropriate channels and using the ideal messaging to reach the selected segment.

• Strategic Business Units

  • A strategic business unit is a semi-autonomous corporate unit that focuses on a product offering and market segment.
  • The emphasis is on short-term and medium-term plans and is limited to the domain of each department's functional responsibility.
  • Many companies feel that a functional organizational structure is not an efficient way to organize activities so they have re-engineered according to processes or strategic business units (SBUs).
  • SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity.
  • Diagram the role and functionality of a strategic business unit (SBU)

• Conclude with Action Plan

  • A marketing plan is a comprehensive blueprint and timeline that outlines a company's marketing efforts.
  • The steps act as the game plan by which the objectives are reached.
  • Action plan -including time line, deadlines, sequence of events.
  • Once the plan is complete, it is the responsibility of the executive team to implement it.
  • All those having a stake in the company's success and the plan's implementation must be unanimously behind the plan, its development and the actions that will have to be taken to meet each objective.

• Determining a Budget

  • Marketing budgets aid in the planning of operations by forcing managers to prioritize activities and consider how conditions may change.
  • Marketing plans are resource driven and they affect the budget.
  • When determining a budget for an integrated marketing plan, it is important for managers to understand the components of IMC in order to allocate funds properly .
  • The foundation - This component is based on a strategic understanding of the product and market.
  • When budgeting a marketing plan, it is important to allocate funds appropriately to the different facets of integrated marketing.