Presentation : Marketing Plan

MARKETING PLAN PRESENTATION

Marketing plan need to be presented in a very effective way in order to convince the top management on the viability of the planning and strategies of marketing. Thus, communication skill is important to ensure the contents and information is delivered appropriately to top management for their interest to implement and approve the marketing budget requested without further argue.

Objectives

The objectives of the presentation are to enables students:

1. To create self confidence among students and exposing their communications kills

2. To use effective presentation method and tool (verbal, written, body language, IT application).

3. To create interesting presentation session for attraction and build full attention of audience.

Task

Students in their respective groups will present their marketing plan. The scope of the presentation will include introduction of the company, product and services, marketing plan and financial budget. The duration of the presentation should not exceed 15 minutes per group. The presentation will be assessed based on these following criteria:

No	Assessment Criteria	Marks
1	The presentation is clear and concise. Presenter did not ramble.	10
2	The presentation is simple and short. The sentences used for presentation is straight forward.	10
3	Able to highlight important contents during the presentation.	20
4	The Scope of presentation are presented in appropriate sequences	10
5	The slides used in presentation is attractive yet formal and not too artistic	15
6	Use adequate presentation tools and material	15
7	Able to answer thr question during Q&A session	10
8	The presentation hand-out is prepared and given to audiences	10

2nd Lecture: Company & Marketing Strategy-Partnering to Build Customer Relationship

The organization's overall strategic planning guides
marketing strategy and planning

After talking about the general marketing process, the process by which companies create value for consumers in order to capture value from consumers in return, the authors dig deeper into steps two and three of that process: designing customer-driven marketing strategies and constructing marketing programs. According to the authors, there are general four steps: First, the organization's overall strategic planning guides marketing strategy and planning. Second, guided by the strategic plan, marketers partner closely work with others inside and outside the company to create value for customers. Third, guided by the marketing strategy and planing, marketers choose target markets, position their marketing offerings, develop a marketing mix, and manage their marketing programs. Fourth, marketers should measure and manage the return on marketing investment (marketing ROI).

How does the organization's overall strategic planning guide marketing strategy and planning??

1) Defining the company mission(customer-based)

2) Setting company objectives and goals

3) Designing the business portfolio

4) Planning marketing and other functional strategies guided by company-wide strategic planning.

Strategic planning is defined as " the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities."  It sets the stage for the rest planning in the firm, including defining marketing's role. The annual and long-range plans deal with the company's current business and how to keep them going, while the strategic plan involves adapting firms to take advantage of opportunities in its constantly changing environment. 

1)  Defining the company mission(customer-based)
"Mission statement is a statement of the organization's purpose--what it wants to accomplish in the larger environment."
A formal mission statement should answer these questions: 

- what is our business? 

- who is the customer? 

- what do consumers value?

- what should our business be?    

These simple questions are among the most difficult the company will ever have to answer. 

A mission should not be myopically defined in product or technology terms but should be market oriented and defined in terms of satisfying basic customer needs. 

Products and technologies eventually become outdated, but basic market needs may last forever. "

" A mission statement acts as  an "invisible hands" that guides people in the organizations." 

It should be meaningful, specific, and motivating. It should emphasize the company's strengths in the marketplace. The mission should focus on customers and customer experience the company seeks to create,not the sales or profits that follow the mission or are only a reward of creating value for customers.

"McDonald's mission isn't to be the world's best and most profitable quick-service restaurant; it is "to be our customers' favorite place and way to eat.

" Walmart's mission is not to be the world's largest discount stores; it is "to deliver low prices every day and give ordinary folks the chance to buy the same things as rich people." "Save money, Live better.

"Nike's mission is not the world' biggest company selling athletic shoes and apparel; it is "to bring inspiration and innovation to every athlete* in the world. (* if you have a body, you are an athlete.)

" Home Depot's mission is not to sell tools and home repair and improvement items; it is "to empower consumers to achieve the homes of their dreams.

" General Mills' mission is not to make consumer food products; it is to "nourish lives by making them healthier, easier, and richer.

" Hulu's mission is not an online video service; it is to "help people find and enjoy the world's premium video content when, where, and how they want it--all for free.

" Revlon's mission is not to make cosmetics; it is "to sell lifestyle and self-expression; success and status; memories, hopes, and dreams."-----"

2) Setting company objectives and goals
"The company needs to turn its mission into detailed supporting objectives for each level of management ", and  "the broad mission leads to a hierarchy of objectives, including business objectives and marketing objectives. " "Each manager should have objective and be responsible for reaching them." Further," marketing strategies and programs must be developed to support  marketing objectives", and "each broad marketing strategy must then be defined in great detail." 


3) Designing the business portfolio
Guided by the company's mission statement and objectives, management need to plan its business portfolio, which is"the collection of businesses and products that make up the company. The best business portfolio is the one that best fits the companys strengths and weaknesses to opportunities in the environment." 

(1) Analyzing the current business portfolio
As the major activity in strategic planning, portfolio analysis refers to the process by which management evaluates the products and businesses that make up the company. 
The authors demonstrate the good and bad of the Boston Consulting Group Approach used widely to identify a company's SBUs, according to the growth-share matrix. In addition, the authors point out that because of such problems with the BCG growth-share matrix, many companies have dropped formal matrix methods in favor of more customized approaches that better suit their specific situations. " The purpose of strategic planning is to find ways in which the company can best use its strengths to take advantage of opportunities in the environment. " 

(2) Developing strategies for growth and downsizing
The aurthors claim that beyond evaluating current business, designing the business portfolio involves finding businesses and products the company should consider in the future, and that a company must be careful not to make growth itself an objective because the company's objective must be to manage "profitable growth."  " Marketing has the main responsibility for achieving profitable growth for the company. Marketing needs to identify, evaluate, and select market opportunities and establish strategies for capturing them." 

The authors further introduce one useful device for identifying growth opportunities, the product/market expansion grid, to identify opportunities in existing and new markets for existing products and new products. Additionally, the authors point out that companies should also develop strategies for downsizing business portfolios because some products or markets might become less profitable in the changing market environment,and because the limited resources should be allocated to promising growth opportunities, rather then fading ones.

4) Planning marketing and other functional strategies guided by company-wide strategic planning.

Planning marketing which is guided by company-wide strategic plan need " marketers to work closely with other departments to form an effective internal company value chain and with other companies in the marketing system to create an overall external value delivery network that jointly serves customers. "

"Value chain is defined by the authors as the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products. For example, Walmart's goal is to create customer value and satisfaction by providing shopers with the products they want at the lowest possible prices. Marketers learn what customers need and stock the stores' shelves with the desired products at unbeatable low prices. They prepare advertising and merchandising programs and assist shoppers with customer service. ........However, Walmart's ability to offer the right products at low prices depends on the purchasing department's skill in developing the needed suppliers and buying from them at low cost. Walmart's information technology department must provide fast and accurate information about which products are selling in each store. And its operations people must provide effective, low-cost merchandise handling." 

" Value delivery network is the network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system. For example, cosmetics marker L'Oreal knows the importance of building close relationships with its extensive network of suppliers, who supply everything from polymers and fats to spray cans and packaging to production equipment and office supplies. 

" L'Oreal thinks that "Being respected also means being respected by our suppliers." 

"Increasingly in today's marketplace, competition no longer takes places between individual competitors. Rather, it takes place between the entire value delivery networks created by competitors."   

Marketing strategy is the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.  Marketing's role includes the major activities involved in managing a customer-driven marketing strategy and the marketing mix. Later, the authors talk about what are included in customer driven marketing strategy, how to manage the marketing efforts through marketing analysis, planning, implementation, and control, and how to measure and manage return on marketing investment.

1st Lecture: Customer Relationship B2C & B2B

Marketing Definition: Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 

 For business to consumer (B2C) marketing it is "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". 

 For business to business (B2B) marketing it is creating value, solutions, and relationships either short term or long term with a company or brand. It generates the strategy that underlies sales techniques, business communication, and business developments. 

It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.

Create value for Customers and build customer relationships:

Needs wants and demands are a part of basic marketing principles. Though they are 3 simple worlds, they hold a very complex meaning behind them along with a huge differentiation factor. In fact, A product can be differentiated on the basis of whether it satisfies a customers needs, wants or demands. Each of them is discussed in detail in this article

Needs -Human needs are the basic requirements and include food clothing and shelter. Without these humans cannot survive. An extended part of needs today has become education and healthcare. Generally, the products which fall under theneeds category of products do not require a push. Instead the customer buys it themselves. But in todays tough and competitive world, so many brands have come up with the same offering satisfying the needs of the customer, that even the “needs category product” has to be pushed in the customers mind.

Example of needs category products / sectors – Agriculture sector, Real Estate (land always appreciates), FMCG, etc.

Wants – Wants are a step ahead of needs and are largely dependent on the needs of humans themselves. For example, you need to take a bath. But i am sure you take baths with the best soaps. Thus Wants are not mandatory part of life. You DONT need a good smelling soap. But you will definitely use it because it is your want. In the above image, the baby needs milk but it WANTS candy 

Example of wants category products / sectors – Hospitality industry, Electronics, Consumer Durables etc, FMCG, etc.

Demands – You might want a BMW or a Mercedes for a car. You might want to go for a cruise. But can you actually buy a BMW or go on a cruise? You can provided you have the ability to buy a BMW or go on a cruise. Thus a step ahead of wants is demands. When an individual wants something which is premium, but he also has the ability to buy it, then these wants are converted to demands. The basic difference between wants and demands is desire. A customer may desire something but he may not be able to fulfill his desire.

Example of demands – Cruises, BMW’s, 5 star hotels etc.

A value proposition is a promise of value to be delivered and a belief from the customer of value that will be experienced. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services.

Creating a value proposition is a part of business strategy. Strategy is based on a differentiated customer value proposition and satisfying customers is the source of sustainable value creation.

Developing a value proposition is based on a review and analysis of the benefits, costs and value that an organization can deliver to its customers, prospective customers, and otherconstituent groups within and outside the organization. It is also a positioning of value, where Value = Benefits - Cost (cost includes risk).

Video Case : Dunkin' Donuts

This Is The Place

Welcome to the Principles of Marketing blog. The purpose of this blog is to serve as a communications tool specifically for those of you enrolled in the Universiti Kuala Lumpur British Malaysian Institute for General Studies Elective Subject. Some items discussed in class will be posted here so that they can be easily retrieved and read at your leisure.