5 Steps of A Successful Strategic Marketing Planning

5 Steps of A Successful Strategic Marketing Planning

If a business asks a strategic question You first want to make sure in which part of the planning process they are, because if you don’t know the place in the planning process, it’s really hard to make sure that you still stay neutral with your decisions or what you decide down,
Marketing Strategy

1- Situation analysis

The part that you do in the situation analysis is to just easily write down things like what company you are writing your business plan for. How you understood it.  A little bit of background information is good to start with just a little bit of the history. How did the company start? How did it get successful? After you wrote that down, you start with also describing more concrete steps. For instance, the mission statement, the vision statement, the targets of the company. ​Also things like the organization structure, the organization culture, and the current strategies. After the situation analysis, you end up with the able matrix or able model. You define in what business they are in. That’s really important to end this part in the situation analysis. Why because this will be your bridge to the external analysis. Park this for a moment, because you need to have a problem statement, yes indeed, you kind of need a reason to make a business plan. So a problem statement and your advice question or your research questions are also great to put in your situation analysis or even they should be in your situation analysis.   If you are writing a business plan or a strategic marketing plan, you not necessarily need to have a problem definition or an advice question or a research question. You can easily make a business plan because the company needs a business plan or because they don’t have one yet. In this case, is good to start the situation analysis just as I described. Â

Why do you want to explain the history of the company for a certain company?

 Because it makes it really easy for the reader. There are a lot of stakeholders who also want to read this plan, and they should know how you as a researcher understood the company. So this is just the starting point of your plan. Now the able business definition. You defined the business that they are in. The interesting part is since you have your customer segmentation on your axis, and you have the needs of these customers. And you have your technology G axis with your own products but also those of the competition. You can feel that the customer analysis, and competition analysis or competitive analysis are already touched.You already mention them, kind of in your situation analysis. So this is why the easiest bridge to your external analysis is made from a situation analysis.

2- External Analysis

The external analysis starts with your macro analysis and these are the DEstep factors or demographic economic, social and technological, economic and polity. All those factors are macro-economic factors. They belong in your external analysis, in your macro analysis. Mission, vision

After that, you get your Meso analysis. Within the analysis, we know different aspects, basically four aspects. Which are:

  • Distribution analysis
  • Branch analysis
  • Competitive analysis
  • Buyer persona
  • Consumer analysis.

​​These four are found in your external analysis. And end your meso analysis with the five forces model of Porter. Often, it’s not necessary that you use the five force model of Porter, but it’s a good place to end your meso analysis. If you want to know if your market is attractive enough or for your business analysis you use the Five Forces model. And you do it at the end of your meso analysis. Because a lot of factors in the Five Forces model are already analyzed in the part of the meso. So it’s a good way to end up and to make a decision if this market is attractive or not.

3- Internal Analysis

The internal analysis is about the company itself. You analyze the company. You never mention your own company please. It’s about the external factors only. The competition, the buyers who don’t really buy your product yet or are only interested in your product. Now you’re analyzing the company, you could mention the company if you want. The 7s model of McKinsey is a really helpful model to do so. There are seven different factors which you can analyze, but not only that, the value chain of Porter is also a really interesting model to investigate in your internal analysis. In your external analysis, you already mentioned the distribution analysis. You could use some value chain there as well for your suppliers. For instance, in the internal analysis, you could use the value chain or other models which you can use. You could have small research if it is interesting to invest in certain markets or product-market combinations if you want.​That’s internal analysis. Don’t forget the financial analysis because that’s also really important in your internal analysis. Now, what you found in your external analysis are opportunities and threats. And in your internal analysis, you found the strengths and weaknesses of your company. Those combined go to your SWOT analysis, Portfolio analysis Key issues and prognoses unchanged .Â

4- Starting Marketing Strategy

Remember that you have to pick a strategy. Picking your strategy, you write down three different strategies. A Option zero is continuing this way, (Strategy Unchanged). Option one, two, and three are choices of Porter, T&W, Ansoff, Blue Ocean, Strategic Alliance. A In option one, two, or three, you can pick from porter tracing. We assume at blue Ocean, Ansoft, maybe cooperation and acquisition or work together with a company. For instance, a sustainable competitive advantage needs to be found to solve this problem. You do so by using the SFA matrix. A You have to pick a certain strategy and only the SFA matrix gives you an answer which is the best option to pick from. If you pick that option, you’re going to do the STP step which is segmenting, targeting, and positioning. So you have found certain buyer groups which are really interesting for you. Secondly, you have segmented them in your meso analysis. Pick one or two that don’t matter and you’re going to focus on those segments. Within those segments, you have target groups. You can, for instance, the niche marketing, if you found a focused strategy or you can maybe differentiate your marketing strategies for certain types of groups you have different strategies. And if you have those target groups, then you’re going to do the positioning. Make a positioning matrix and those meet that positioning and have to distinguish yourself from the competition. So pick a really strong positioning.

5- Implementation Plan

The internal analysis is about the company itself. You analyze the company. You never mention your own company, please. It’s about the external factors only. The competition, the buyers who don’t really buy your product yet or are only interested in your product. A Now you’re analyzing the company, you could mention the company if you want. The 7s model of McKinsey is a really helpful model to do so. There are seven different factors which you can analyze, but not only that, the value chain of Porter is also a really interesting model to investigate in your internal analysis.  In your external analysis, you already mentioned the distribution analysis. You could use some value chain there as well for your suppliers. For instance, in the internal analysis, you could use the value chain or other models which you can use. You could have small research if it is interesting to invest in certain markets or product-market combinations if you want. That’s the internal analysis. Don’t forget the financial analysis because that’s also really important in your internal analysis. Now, what you found in your external analysis are opportunities and threats. And in your internal analysis, you found the strengths and weaknesses of your company. Those combined go to your SWOT analysis.  This is where you work out the 4 pieces. Price, product, place, and promotion. Make no mistake, the place is where your products can be found. This is also your website strategy or your online strategy. So not only physical shops or physical district distribution points. Also, your online strategy contains the place matrix and within that, you have several ps4 online strategies if you want. But basically, you have those four pieces and of course your marketing communication mix. You have to have a marketing communication plan as well. These are the six steps of strategic marketing planning to always follow. So if somebody asks me about the model analysis, I have to make sure, okay, where are you working in your plan? What’s the place in your plan? The same goes if somebody asks me. Do I have to use my five forces Porter model again? So you’re in the major analysis in my mind. This is the place where you are now. Yes, I’m only working with my competition.

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