Marketing Process

• The marketing process involves creating value for customers to satisfy their needs
• It's a continuous series of actions and reactions between customers and organizations
• The marketing process includes situation analysis to identify opportunities, strategy formulation for a value proposition, tactical decisions, plan implementation, and results monitoring

Relationship Between Analysis, Planning, Implementation, and Control

• Companies design and implement a marketing mix to achieve objectives in target markets
• This involves four marketing management functions: marketing analysis, planning, implementation, and control
• Managing the marketing function begins with analyzing the company's situation
• Companies must analyze markets and the marketing environment to find opportunities and avoid threats
• Marketers should conduct a SWOT analysis to evaluate overall strengths, weaknesses, opportunities, and threats

Marketing Analysis

• Marketing analysis involves a complete analysis of the company's situation
• Companies perform analysis by identifying environmental opportunities and threats
• They analyze company strengths and weaknesses to determine which opportunities to pursue
• Information feeds into other marketing management functions
• SWOT provides a tool to explore internal and external factors that influence weaknesses, opportunities, and threats
• SWOT helps minimize weaknesses and maximize strengths by matching strengths against market opportunities

SWOT Analysis

• A strategic planning technique identifies strengths, weaknesses, opportunities, and threats related to business competition or project planning
• SWOTs objective is to specify business objectives, and identify factors both favorable and unfavorable to achieving those objectives
• Users ask questions to generate meaningful information for each category
• SWOT helps identify ways to minimize weaknesses while maximizing strengths
• SWOT guides you to identify your organization's strengths and weaknesses, as well as opportunities and threats
• SWOT helps with both strategic planning and decision-making
• The SWOT method was originally developed for business and industry
• Helpful for new efforts, decisions, determining change, adjust and refine
• SWOT offers a simple way of communicating and organizing information
• SWOT consists of Strengths, Weaknesses, Opportunities, and Threats
• Its purpose is to reveal positive forces and potential problems
• Steps include:
  • Internal (Strengths, Weaknesses)
  • External (Opportunities, Threats)
  • Designate a leader
  • Introduce the SWOT method and its purpose in your organization
  • Depending on the nature of your group and the time available, let all participants introduce themselves
  • Divide your stakeholders into smaller groups
  • Have each group designate a recorder
  • Direct them to create a SWOT analysis
  • Give the groups 20-30 minutes to brainstorm and fill out
  • Reconvene the group at the agreed-upon time to share results
  • Discuss and record the results and purpose:Consensus about the most important items in each category, relate and translate the analysis to goals -Prepare a written summary of the SWOT analysis to share with paricipants for success
  • Identify issues or problems you want to change, reaffirm goals and create an action plan.
• A realistic recognition of the weaknesses and threats that exist for your effort is the first step to countering them with a robust set of strategies that build upon strengths and opportunities
• SWOT assists to strategically make plans and decisions

Marketing Planning

• Functional plans should be prepared for each business unit, including aggregate marketing plans for product lines, brands, and markets
• Marketing planning involves deciding on marketing strategies to help the company achieve its overall strategic objectives
• A marketing plan provides guidelines for an organization's marketing programs and allocations giving a detailed description of their marketing strategy and how it will be carried out.
• Marketing plans are prepared for a specific time frame, typically a year
• Marketing plans are living guides that should develop and shift as the business grows and changes
• Marketing plans are essential in order to provide a strategy.

Marketing Plan Benefits

• Help to find weak points in a sales funnel, identify spots where a customer may fall off
• Identify if tweaks need to be made to correct things of the past, and new opportunities
• Better end results are made when acknowledging goals, milestones and benchmarks Marketing plans help organizations to understand the budget and resources
• Can help bridge the gap between marketers and other vendors, and improve the communication across the board.

Writing a Marketing Plan

• Understaning of the business world and industry is necessary when writing a plan
• A situation analysis would be the current situation looked as a business
• Consider core values as part of your mission statement, also a SWOT is important to take note of.
• Industry and External growth are drivers, alongside barriers of entry that determine the state of the industry
• Identify and Analyze Market Competitors in order to see content strategy and the quality their content has

Executive Summary (Notes to remember)

• Opening section that presents a short summary.

Current Marketing Situation (Notes to Remember)

• Section describing target market and Company's product
• Important sections include:
  • A market description
  • Analysis of Compitition, a section on distribution

###Opportunities and Issues and Analysis (Notes to Remember)

• Marketing should forsee the opportunities by taking into account either the positive or negative impact

Objectives

• Should state the goals required during the plan
• Marketing Mix has specific for target markets, budget also
• Plans include what action will be taken, by whom, and will be spent doing

Projected profit-and- loss statement

• Marketing budget shows revenues.

Controls

• Control measures that will monitor progress and goals.

Marketing Implementation

• Marketing Implementation is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives.
• Addresses Marketing activities

Implenting Marketing

• Set expectations, be successful, it is important to remember that this is a marathon,
• Takes 6-12 months to see its effects
• Build team for marketing implentation,
• Secure those resources, and also what you mean

Maintaining a Marketing Plan

• Communicate the plan and give overveiw to your comapny
• Build out schedule
• Easily assign tasks and deadlines to team members, while also keeping everyone on the same page.
• Stay on top of project
• Use Dashboard to track tools, key metrics, and results Communicate,check and monitor goals for team
• When something isn't working, take different approches or test different solutions
• Share information and ideas, celebrate team succcesses

Marketing control

• It is the process consisting of evaluating and measuring marketing
• Corrective actions are taken to satisfy marketing objectives.

Marketing Control as a key of a job

Scope of Activities

• Involves information using gathering on marketing and comparing planned performances
• Helps to create a better feedback for those concerned, such as the top CEO

The steps followed

• annual plan, checks performace
• find ways to help improve
• Marketing must ensure that they can optimally adapated
• Match efforts with environmental changes for rapid
• identifyes deviation, finds out and takes action
• An appraisal of performance from others is taken, and in return an report is made
• The vertical sysytem makes everything complex, yet essential
• Feedback is provided for reformation

More aspects about feedback

• Should be objective,and not subjective
• System should also give feed back for future actions
• Should be flexible, and in all aspects must be maintained

Process of desiging a control system are as follows

• The data and plan must distinguished the highlight of important values
• The control process must provide focus on expectione
• Fast feedback and action is needed
• It is crucial for control