MARKETING STRATEGIC PLANNING

Marketing strategic planning is the process that the operational and managerial staffs of a company go through to create and implement effective marketing strategies. Any successful marketing requires careful planning often based on the results of market research which involves the creation and implementation of strategies to achieve a desired goal through the channels of distribution.

The strategic marketing planning is not a onetime action but rather an ongoing process whereby it typically bases on the company creating a strategic marketing plan that covers short term or long term period of time hence when a strategic marketing plan is put in place the company uses it as a guide for six month to one year time. The company then evaluates the strategic marketing plan by measuring the results of the marketing programs then the company may tweak the plan to improve efforts that didn’t go as planned or to mimic the results of plans that achieved success. In any marketing strategic planning it takes several aspects of company marketing and promotion into consideration  

i.                     Set measurable, achievable goals by ensuring they are clear structured and measurable this will be easier to accomplish the purpose.  

ii.                   Research, analyzing and identifying the target markets

iii.                  Developing a strategic position for the company to pursue and how to implement the strategy.

iv.                 Preparation and implementation of the marketing plan.

v.                   Measuring and evaluating the results of the marketing efforts of the company.

                                                                                               

The following are types of marketing strategic planning which can be used; 

Price strategy; a business can implement a marketing plan based on pricing strategy. One common tactic is to become known as the price leader in the market by offering lower prices than the competitors on high demand items.

Promotional strategy; it can also consist of a strategy based on heavy promotional activities to spread the word about a product or business through multipronged advertising campaign

Distribution strategy; through the increases of its channels of distribution focusing on contacting all retailers and middleman in the market in an effort to persuade them to carry a particular product

Product strategies; it include developing product strategies based on successful product adding complementary products, add its product mix and change a product packaging to make it appealing than that of its competitors.

In the marketing strategic planning it deals with the following processes

Identifying a mission; the first step in strategic   marketing is to articulate the reasons why the enterprise exists and how it can benefit target consumers over the long term the mission statement is intended to anticipate the future and describe an ongoing role for the organizations product, service or expertise.

Situation analysis; an organization conduct a situation analysis, also known as a SWOT, to evaluate and prioritize their strength, weaknesses, opportunities and threats. Due to situation analysis it helps managers understand the resources they can build on and the challenges they face

Set marketing objectives; these are clear, measurable goals that give decision makers a basis for making choices and assessing progress. Objectives are typically expressed in terms of one or more quantitative targets like revenue, profit, sales or market share NB each objective must be achievable within a fixed period of time.                                                                                                                                         

                                                 JOHN,Cafrene