Use Think-Pair-Share 2 here Use Outside Example 1 and 2 here p. 55 PPT 2-37 p. 55 PPT 2-38 PPT 2-39 List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing marketing return on investment MANAGING THE MARKETING EFFORT Managing the marketing process requires the four marketing management functions shown in Figure 2.6. Analysis Planning Implementation Control Marketing Analysis Managing the marketing function begins with a complete analysis of the company’s situation. The company must analyze its markets and marketing environment to find attractive opportunities and avoid environmental threats. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths, weaknesses, opportunities, and threats. Learning Objective 5 p. 55 Figure 2.6: Managing Marketing: Analysis, Planning, Implementation, and Control p. 55 Key Term: SWOT analysis p. 56 Figure 2.7: SWOT Analysis: Strengths (S), Weaknesses (W), Opportunities (O), and Threats (T) Assignments, Resources Use Critical Thinking Exercise 2-7 here p. 56 PPT 2-40 Marketing Planning Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand. Table 2.2 outlines the major sections of a typical product or brand plan. See Appendix 1 for a sample marketing plan. A marketing strategy consists of specific strategies: target markets, positioning, the marketing mix, and marketing expenditure levels. p. 57 Table 2.2: Contents of a Marketing Plan
p. 56 PPT 2-41 p. 58 PPT 2-42 Marketing Implementation Marketing implementation is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives. Implementation involves day-to-day, month-to-month activities that effectively put the marketing plan to work. Implementation addresses the who, where, when, and how. In an increasingly connected world, people at all levels of the marketing system must work together to implement marketing strategies and plans. Successful marketing implementation depends on how well the company blends its people, organizational structure, decision and reward systems, and company culture into a cohesive action program that supports its strategies. Marketing Department Organization The company must design a marketing organization that can carry out marketing strategies and plans. The most common form of marketing organization is the functional organization. Under this organization functional specialists head the various marketing activities. A company that sells across the country or internationally often uses a geographic organization. Companies with many very different products or brands often create a product management organization. A product manager develops and implements a complete strategy and marketing program for a specific product or brand. For companies that sell one product line to many different types of markets and customers that have different needs and preferences, a market or customer management organization might be best. A market management organization is similar to the product management organization. p. 56 Key Term: Marketing Implementation p. Photo: Marketing Planning and Control