Services Marketing
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Chapter 21 : Marketing Planning for Services
Marketing Planning Process
Establishing Strategic Context Situation Review Marketing Strategy Formulation Resource Allocation and Detailed Planning
Chapter Summary
The marketing planning process consists of four phases – strategic context,
situation review, marketing strategy formulation, and resource allocation
and monitoring, which, in turn, consist of 10 different steps. In the first
phase, an organization has to establish the corporate mission and
objectives.
In the second phase, it has to conduct a marketing audit wherein the
external and internal environments of the organization are studied. SWOT
analysis is also conducted to evaluate the internal strengths and weaknesses
of the organization and the opportunities and threats from the external
environment.
Apart from this, some key assumptions are also made, which form the basis
for the marketing plan. In the third phase, the marketing objectives are
established in alignment with the corporate objectives. Then the strategies
to be adopted to achieve these objectives are designed.
These strategies are evaluated for assessing the possible outcomes. If a
particular strategy seems to have some lapses and is not capable of
delivering the desired result, the management tries to design new
strategies. In the fourth phase, the required resources are allocated for
all the marketing teams and the marketing plan is implemented.
As the plan is being implemented, managers continually monitor the situation
and in case there is any deviation from the expected performance, they take
steps to correct it. This periodical review of the situation ensures the
implementation of a successful marketing plan.
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