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Marketing Planning Process
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Figure 14-9 Components of a Market Strategy
Review Handout
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Successful Plan Implementation
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A Hierarchy of Performance
Strategic
Performance
Marketing Financial
Performance Performance
Insufficient
Insufficient
Resource
Training
Allocation
Changes in
Customer
Needs 7
This is Further Complicated by
Difficulties in Problem Diagnosis
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MARKETING PLANS
APPROPRIATE INAPPROPRIATE
I SUCCESS UNCERTAIN
M All that can be Good execution can
P done to insure mitigate poor strategy,
success has forcing success.
L
GOOD been done OR
E
The same good
M execution can
E hasten failure
N
T TROUBLE UNCERTAIN
A Poor execution hampers Very Difficult to diagnose
T good strategy. Mgmt because bad strategy is
I may never become masked by poor
POOR
aware of strategic execution.
O soundness because of Difficult to fix because
N implementation both strategy and
inadequacies execution are wrong. 9
As with Corporate or Business Unit
Performance, Marketing Performance
Has Multiple Dimensions
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Performance Relationships
Program Effectiveness
Sales/Share
Increases
New Service
Performance
Profitability
Customer
Satisfaction
Efficiency
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Defining Marketing Effectiveness
The Achievement of Marketing Program
Goals
Sales growth/share growth
Retention
Profitability
Awareness
Positioning
Cost reduction
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Sub-dimensions of Performance
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Performance Dimensions - Growth
Salesgrowth
Share growth
Increased sales to existing
customers
Sales to new customers
Opening new markets
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Performance Dimensions - Efficiency
Efficiency = Sales .
Mktg Exp.
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Performance Dimensions - New
Products Development
Trial
rate
Retention rate
Time to market
Revenue from new services
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Performance Dimensions - Customer
Satisfaction
Satisfaction
Retention/Loyalty
Perceived value received
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Performance Dimensions -
Profitability
ROA = Profits/Assets
Cash Flow/Assets = CFROA
Return on Sales (ROS) = Profits/Sales
Meeting Margin or Contribution Goals
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Conclusions:
Evaluation of program effectiveness
depends on the objectives set for the
program.
While profitability is one dimension,
success will be determined by those
variables which drive profitability.
Many of these variables are marketing
performance indicators.
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Common Firm Goal Attainment Metrics
Awareness rates.
Satisfaction and Loyalty Ratings
Growth and Share targets.
Hurdle rates for Project ROI
NPV hurdles.
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