Essential guide to marketing planning

325 Pages·2017·3.501 MB·English

by  Wood, Marian Burk

‘‘Essential Guide to Marketing Planning is focused on applying central conceptualisations … it gives the
reader a sense that marketing is about choosing. This is important, as it forces students to come closer to
how marketing is applied in the industry”.
Dr Christofer Laurell, Researcher, Stockholm Business School, Stockholm University
Careful and creative planning is essential in today’s global marketplace, where customers’ needs and behaviours
are constantly changing, economic circumstances are unpredictable, competitive pressure is intense and every
day brings new technological advances. This book is your essential guide for learning how to prepare a thoughtful,
comprehensive marketing plan to achieve financial, marketing and strategic objectives. FOURTH G
EDITION
Use this fourth edition to gain insights from the experiences of marketers worldwide and apply your knowledge
to develop a marketing plan of your own. Chapters guide you through researching your market, analysing your N
E
competitive situation, setting objectives and deciding on marketing strategies to develop a creative, effective S
S
marketing plan for any product.
E I
N N N
Fully updated with the newest developments in digital, social media and mobile marketing, balancing Big Data
T O
with security and privacy, trends such as pop-up retailing and ad blocking, strategies for competitive advantage and
I I
A T
metrics for evaluating results, this is a practical, reader-friendly guide to the planning process. N
L DI
G E

U A H
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Appendix. L A A
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About the author N
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Marian Burk Wood, M.B.A., has held vice-presidential level positions in corporate and non-profit marketing I S
with Citibank, JP Morgan Chase and the National Retail Federation. Her popular US book, The Marketing Plan N S
Handbook, has introduced marketing planning to thousands of students worldwide. G E
Visit her blog at: http://essentialmarketingplanning.blogspot.com/
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Essential Guide to Marketing Planning
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Essential Guide to
Marketing
Planning
Fourth edition
Marian Burk Wood
Harlow, England (cid:127) London (cid:127) New York (cid:127) Boston (cid:127) San Francisco (cid:127) Toronto (cid:127) Sydney (cid:127) Dubai (cid:127) Singapore (cid:127) Hong Kong
Tokyo (cid:127) Seoul (cid:127) Taipei (cid:127) New Delhi (cid:127) Cape Town (cid:127) São Paulo (cid:127) Mexico City (cid:127) Madrid (cid:127) Amsterdam (cid:127) Munich (cid:127) Paris (cid:127) Milan
F01 Essential Guide to Marketing Planning 17522 Contents.indd 3 05/12/2016 16:21
Pearson Education Limited
Edinburgh Gate
Harlow CM20 2JE
United Kingdom
Tel: [phone]
Web: www.pearson.com/uk
First published 2007 (print and electronic)
Second edition published 2010 (print and electronic)
Third edition published 2013 (print and electronic)
Fourth edition published 2017 (print and electronic)
© Pearson Education Limited 2007, 2010, 2013, 2017 (print and electronic)
The right of Marian Burk Wood to be identified as author of this work has been
asserted by her in accordance with the Copyright, Designs and Patents Act 1988.
The print publication is protected by copyright. Prior to any prohibited reproduction, storage in a
retrieval system, distribution or transmission in any form or by any means, electronic, mechanical,
recording or otherwise, permission should be obtained from the publisher or, where applicable, a
licence permitting restricted copying in the United Kingdom should be obtained from the Copyright
Licensing Agency Ltd, Barnard’s Inn, 86 Fetter Lane, London EC4A 1EN.
The ePublication is protected by copyright and must not be copied, reproduced, transferred,
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in law accordingly.
All trademarks used herein are the property of their respective owners. The use of any trademark in
this text does not vest in the author or publisher any trademark ownership rights in such trademarks,
nor does the use of such trademarks imply any affiliation with or endorsement of this book by such
owners.
Pearson Education is not responsible for the content of third-party internet sites.
ISBN: 978-1-292-11752-2 (Print)
978-1-292-11754-6 (PDF)
978-1-292-18638-2 (ePub)
British Library Cataloguing-in-Publication Data
A catalogue record for the print edition is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Wood, Marian Burk, author.
Title: Essential guide to marketing planning / Marian Burk Wood.
Description: Fourth edition. | Harlow, England ; New York : Pearson, [2017]
Identifiers: LCCN 2016049335| ISBN 9781292117522 (Print) | ISBN 9781292117546
(PDF) | ISBN 9781292186382 (ePub)
Subjects: LCSH: Marketing—Planning.
Classification: LCC HF5415.13 .W656 2017 | DDC 658.8/02—dc22
LC record available at https://lccn.loc.gov/2016049335
10 9 8 7 6 5 4 3 2 1
21 20 19 18 17
Print edition typeset in Sabon MT Pro 10/12.5 pts by SPi Global
Printed and bound in Malaysia
NOTE THAT ANY PAGE CROSS REFERENCES REFER TO THE PRINT EDITION
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Brief Contents
Preface XV
About the author XX
Acknowledgements XXI
Chapter 1 Introduction to marketing planning 2
Chapter 2 Analysing the current situation 24
Chapter 3 Analysing customers and markets 46
Chapter 4 Segmenting, targeting and positioning 68
Chapter 5 Planning direction and objectives 88
Chapter 6 Planning for products and brands 106
Chapter 7 Planning for pricing 128
Chapter 8 Planning for channels and logistics 150
Chapter 9 Planning for communications and influence 170
Chapter 10 Planning for digital, social media and mobile marketing 194
Chapter 11 Supporting the marketing strategy 216
Chapter 12 Planning for implementation, metrics and control 236
Appendix: Sample marketing plan for Lost Legends Luxury Chocolatier 262
Glossary 283
Index 294
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Contents
Preface XV
About the author XX
Acknowledgements XXI
1 Introduction to marketing planning 2
Chapter preview: Marketing at Primark® 3
The role of marketing planning 4
The benefits of marketing planning 4
Marketing in practice: Red Nose Day® 5
The dynamic marketing plan 6
The process of marketing planning 6
Stage 1: Analyse the current situation 6
Stage 2: Research and analyse markets and customers 8
Essential checklist No. 1: Situational analysis 8
Stage 3: Determine segmentation, targeting and positioning 9
Stage 4: Set marketing plan direction and objectives 9
Stage 5: Plan strategies, programmes and support 10
Product and branding 10
Marketing in practice: Nestlé KitKat® 11
Price 11
Channel and logistics 12
Marketing communications and influence 12
Marketing support 13
Stage 6: Plan to measure progress and performance 13
Stage 7: Implement, control and evaluate the plan 14
Documenting a marketing plan 14
Internal audit: The starting point for planning 14
Three levels of planning for strategy 14
Marketing and the mission statement 17
Marketing in practice: Walmart® 18
Essential checklist No. 2: The mission statement 19
Chapter summary 19
A closer look: Marketing at Primark® 20
Apply your knowledge 21
Build your own marketing plan 21
Endnotes 22
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viii Contents
2 Analysing the current situation 24
Chapter preview: Marketing at L’Oréal® 26
Environmental scanning and analysis 26
Internal audit: identifying strengths and weaknesses 27
External audit: identifying opportunities and threats 28
SWOT analysis 29
Marketing in practice: Experian® 30
Analysing the internal environment 30
Organisational resources and capabilities 31
Current offerings 31
Previous performance 32
Marketing in practice: Coles® 32
Business relationships 33
Key issues 34
Essential checklist No. 3: The internal environment 34
Analysing the external environment 34
Political factors 35
Economic factors 35
Social, cultural and ethical factors 36
Technological factors 37
Legal factors 38
Ecological factors 38
Competitive factors 39
Marketing in practice: Michelin® 40
Essential checklist No. 4: The external environment 41
Chapter summary 41
A closer look: Marketing at L’Oréal® 42
Apply your knowledge 43
Build your own marketing plan 43
Endnotes 44
3 Analysing customers and markets 46
Chapter preview: Marketing at Ryanair® 48
Analysing consumer and business markets 48
Market definition 49
Market changes 50
Market share 51
Marketing in practice: Specsavers® 52
Analysing customers in consumer markets 52
Characteristics and needs 53
Cultural elements 54
Social connections and opinion leaders 54
Personal elements 55
Marketing in practice: Nappies in China 57
Essential checklist No. 5: Analysing customers in consumer markets 57
Analysing customers in business markets 58
Characteristics and needs 58
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Contents ix
Organisational and environmental considerations 59
Internal and external relationships 59
Marketing in practice: Samsung® Electronics 60
Essential checklist No. 6: Analysing customers in business markets 61
Researching markets and customers 62
Primary and secondary research data 62
Conducting marketing research 62
Chapter summary 63
A closer look: Marketing at Ryanair® 64
Apply your knowledge 65
Build your own marketing plan 65
Endnotes 66
4 Segmenting, targeting and positioning 68
Chapter preview: Marketing at Nike® 70
Benefits of segmentation, targeting and positioning 70
The market segmentation process 72
Choose the market 72
Apply segmentation variables in consumer markets 73
Marketing in practice: Whitbread’s Premier Inn® 75
Apply segmentation variables in business markets 75
Marketing in practice: BASF® 76
Evaluate and select segments for targeting 77
Essential checklist No. 7: Evaluating market segments 78
The targeting process 79
Undifferentiated marketing 79
Differentiated marketing 80
Marketing in practice: BMW® Group 80
Concentrated marketing 81
Individualised marketing 81
Segment personas 81
The positioning process 82
Deciding on differentiation 82
Applying positioning 83
Essential checklist No. 8: Planning for positioning 83
Chapter summary 83
A closer look: Marketing at Nike® 84
Apply your knowledge 85
Build your own marketing plan 85
Endnotes 86
5 Planning direction and objectives 88
Chapter preview: Marketing at Lego® Group 90
Marketing plan direction 90
Growth strategies 91
Non-growth strategies 92
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