Marketing Plans How To Prepare Them, How To Profit From Them 8th Edition Malcolm McDonald , Hugh Wilson - Solutions

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Promotional spend evaluation. Here, the difference between maintenance and investment expenditure was explained and examples provided, which illustrated the very different net present value outcomes based on maintenance and investment expenditure.
Marketing spend evaluation. The model provided a framework for linking principal products for market (the Ansoff Matrix) to critical success factors, productivity factors and hygiene factors. These are then translated into actions, with costs and responsibilities associated with each action.
Marketing due diligence. Marketing due diligence assesses the risks associated with the three main components of strategic marketing plans: the market; the marketing strategy;and the profit pool. The forecast net-free cash flows for the planning period are reduced if appropriate by the probability
Some small-scale field work to test findings on world-class companies
Preliminary conclusions from the above with our own recommendations/hypotheses.
What are the major ‘schools of thought’? What are the strengths and weaknesses of each?
What does ‘added value’ really mean?● value chain analysis● shareholder value added (SVA)● customer value● brand value● accounting value● value-based marketing.
What counts as marketing expenditure?
Can you improve the way you are organized as a team?
How can you improve your ability to implement the strategy more efficiently (e.g. by using less resources and generating more profits)?
How can you improve your ability to implement the strategy more effectively (e.g. faster, across the entire market, hitting the objectives on time and achieving greater impact on the competitors)?
It can take three years to introduce marketing planning successfully
The chief executive must take an active role.
The separation of operational and strategic marketing planning will lead to divergent plans, with the short-term viewpoint winning because it achieves quick results.
Marketing planning which is not integrated with other functional areas of the business at general management level will be largely ineffective.
Any closed-loop planning system, especially if it is based just on forecasting and budgeting, will deaden any creative response and will eventually lead to failure.
Design a simple system for your company, or describe in what ways your existing system could be improved.
If it does, describe in what ways it differs from the principles outlined here.
Does the principle of hierarchies of audits, SWOTs, objectives, strategies and programmes apply in your company? If not, describe how they are handled.
Does your marketing plan include objectives and strategies relating to:a) Customer retention by segment?b) Cross-sales to existing customers, by segment (or key account)?c) Customer profitability or customer lifetime value by segment (or key account)?
What stage of CRM maturity are you at? See Figure 10.5. Do your systems and processes support:a) Product transactions only (stage 1)?b) Access to integrated customer information only for marketers and other back-office staff(stage 2)?c) Access to integrated customer information for all front-office
Most firms do not have an explicit definition of CRM. But what is the implicit definition?A software package for sales automation or outbound direct mail, perhaps? Or a customer database?
Whose responsibility is CRM in your organization? The sales and marketing director? The IT director? Or is it delegated to individual business units, with piecemeal approaches that cannot deliver a joined-up experience to the customer?
What do you think are the major areas of weakness in your current approach to customer service management?
a) Do you have a single point of contact for customers or (b) do certain departments handle different types of inquiries/complaints?Yes (a) (b)No (a) (b)
Do you have an established method of communications for your customers to contact you about some aspect of their order after the order has been entered?Yes No
Where does customer service management fit in relation to the marketing function?(Draw an organizational chart if necessary.)
Which function(s) has responsibility for customer service management?
Do you believe that within your company there is adequate knowledge of the true costs of providing customer service Yes No
Do you monitor competitive customer service offerings?Yes No
Is any attempt made to monitor your customer service performance on these three dimensions?Yes No
___________________
What are the three most crucial aspects of customer service as they impinge upon your marketing effectiveness?
Do customers receive a copy of this policy?Yes No
Is this given a wide circulation within the company?Yes No
Do you have a written customer service policy?Yes No
Pilot the new channel model, for example, using control groups
Understand channel costs.
Develop channel curves to check the advantage to the customer of a proposed new channel chain.
Develop a coverage map to show how channels vary by product and by market.
Develop a channel chain for each segment to show how channels combine in the customer journey.
Do a needs-based segmentation as far along the market map as a significant proportion of the buying decision is made.
Can you see any way of making savings in your distribution system without reducing customer service?
How do service levels compare with competitors?
How are decisions currently made concerning customer service levels?
What coordination takes place between physical distribution management and marketing management? How can any problems be minimized?
Is logistics adequately represented at board or senior management level in your organization? How could improvements be made?
What else might prevent you from making the changes you would like to make? Metrics?The investment case? Company culture?
Is any executive responsible for marketing, sales and service in an integrated way across multiple channels? Or do you have ‘channel barons’ responsible for different parts of the customer journey? If there is no single person responsible, can a multichannel governance board be set up?
If the answer to any of the above is ‘yes’, are you clear what should be done, or do you need to apply the tools in this chapter to establish a multichannel plan?
Does your company have a problem with:a) Channel costs?b) Customer experience in individual channels?c) Customer experience across channels (multichannel integration)?d) Market coverage?
What is the nature of the channel of distribution through which the company sells? Does the company sell direct to the end customer, or through intermediaries? To what extent does the company control the channel and the activities of its members, such as the stock levels and order policies?
What is the nature of the competition? How many companies are providing an alternative source of supply to our customers? What sort of service levels do they offer?
How profi table are the customers constituting each segment?
What is the nature of the market? Does the company operate in a sellers’ or a buyers’ market? How frequently is the product purchased? Are there ready substitutes? What are the stockholding practices of the purchasers? Which markets and customers are growing and which are declining?
What is the nature of the product? Is it a critical item as far as the customer is concerned, where stock-outs at the point of supply would result in a loss of sales? Does the product have characteristics that result in high stockholding costs?
How profi table is the product? What contribution to fi xed costs and profi ts does this product make and what is its sales turnover?
Do you allocate resources (such as your best key account managers) to key accounts differentially, taking into account the position of each account in the portfolio?
Do you manage key accounts differentially according to their stage of relationship development? Are there any key accounts where you delude yourselves that a close relationship is possible when the customer has every intention of behaving transactionally?
Have you identified key account managers with the requisite influencing and implementation skills?
Have you identified key accounts taking into account future potential and not just today’s revenue?
Critically appraise your company’s sales plan. Does it flow naturally from the company’s marketing objectives?
How is your own organization’s sales force used? Is this the best possible use of the sales force? In what ways do activities of the sales force complement other forms of marketing communications used? Identify any other ways in which you feel the activities of the sales force could enhance the
Can you make a case to justify the present size and type of sales force used? Could you defend your position if you were requested to cut back the sales force by 30 per cent? How would you make your case? What do you believe would be the consequences of a 30 per cent cutback in the sales force?
Who is responsible for the sales force in your organization? What is the relationship between this post of responsibility and other marketing responsibilities in the organization? Does this cause any problems? Where problems arise, how could they be solved?
How is the sales force deployed: by geographical territory; by product range; by type of customer? Is this deployment optimal? What other patterns of deployment should be considered by your organization?
What are the key functions of salespeople in your organization? How is their work coordinated?
How do you evaluate your sales promotional activities?
Critically evaluate your sales promotional plan.
When you launch a new product or service, do you target your communications specifically at the opinion leaders? Do you know who they are? Can you describe them in terms that are relevant to advertising?
Using the checklist given in the text, critically appraise your advertising plan.
Critically appraise your advertising objectives.
Describe the buying process in one of your major customer groups. Who are the key influencers? Critically appraise your strategy for communicating with them.
How does your company determine its communications mix (i.e. the relative emphasis given to advertising, sales promotion and personal selling)?
Social responsibility, corporate image, etc. (other corporate strategies)
What funding is required and how (finance).
The number and character of employees (personnel).
What facilities are required (e.g. operations, distribution).
Which products and which markets (marketing).
Draw up criteria for product/market extension which are compatible with your company’s distinctive competences.
Has there been any product/market extension during the past ten years which has not been compatible with your company’s distinctive competence? If so, state why.
Critically analyse your company’s marketing strategies.
Critically analyse your company’s marketing objectives.
Critically analyse your company’s corporate strategies.
Critically analyse your company’s corporate objectives.
Why this step is the most crucial in the marketing planning process?
How to set marketing strategies?
What marketing strategies are?
New product development as a growth strategy
How to start the process of marketing planning using ‘gap analysis’
How to use competitive strategies to gain competitive advantage
What competitive strategies are
How to set marketing objectives?
How marketing objectives relate to corporate objectives?
What marketing objectives are?
Should ‘dogs’ always be killed off?
How does market share relate to cash generation, as in the Boston Matrix?
How useful is a brand name?
Draw circles around the coordinates. The diameter of each circle should be proportional to that segment’s contribution to turnover. Is this where you want the circles to be?
Put the markets or segments through the criteria.

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Marketing Plans How To Prepare Them, How To Profit From Them 8th Edition Malcolm McDonald , Hugh Wilson - Solutions

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