Marketing planning

Specific, measurable goals a business sets for its marketing activities — clear targets to aim for.

Objectives = what (goals). Strategies = how (plans). Tactics = specific actions.

Tactics = the specific ACTIONS taken (e.g. run social media ads in France).

A long-term plan for how a business will achieve its marketing objectives.

Penetration, development, product development, diversification.

Market penetration, market development, product development, diversification.

Drive through France. Tactics = which roads to take and where to stop.

Increase market share by 5% within two years; boost online sales by 20% this year.

Selling more of existing products to existing customers — lowest risk strategy.

Vague aims like 'sell more stuff' — objectives must be specific and measurable.

Taking existing products to new markets (e.g. new countries or demographics).

Objective: increase share by 10%. Strategy: enter new markets abroad. Tactic: run ads in France.

New products for new markets — highest risk because both the product and market are unfamiliar.

So the business can track progress and know whether the objective has been achieved.

Creating new products for existing customers.

They operate at different levels — objectives guide strategies, strategies guide tactics. Mixing them up loses marks.

Strategy — it's the overall plan. Tactics are the specific actions that carry out the strategy.

Grow brand awareness among 18-25 year olds; improve customer retention rates.

Sustained brand awareness, improved reputation, long-term sales growth, competitive advantage hard to copy.

Diversification — new products AND new markets.

1) Analyse market, 2) Set objectives, 3) Choose strategies/tactics, 4) Implement, 5) Monitor and adjust.

Objectives, strategies and actions needed to achieve marketing goals.

Gives direction, helps allocate resources efficiently, provides benchmarks to measure success.

A written document outlining marketing objectives, strategies and actions needed to achieve them — the roadmap for marketing.

Investors and banks want to see a clear plan — it shows the business is organised and has thought ahead.

Objectives, market analysis, target market, marketing mix (4/7 Ps), budget, timescales, evaluation methods.

SWOT analysis, STEEPLE analysis, market research.

Evaluate → Adjust. Then the cycle repeats.

Markets change fast (plan becomes outdated), relies on accurate research, may limit flexibility if followed too rigidly.

Research on customers, competitors and market trends.

Markets constantly change — the plan must be monitored, evaluated and adjusted over time.

Attracting investors — a clear plan shows the business is organised.

To measure whether the marketing activities are actually working — you need benchmarks for success.

If followed too rigidly, the business may miss opportunities or fail to respond to unexpected changes.

Reduced flexibility — following the plan too rigidly may miss new opportunities.

Living documents — they adapt when things change rather than being forgotten.

Objectives, market analysis, target market, marketing mix, budget, evaluation.

Monitor, evaluate and adjust — check if it's working and change course if needed.

Pick TWO elements and explain them clearly with reference to the case study business.

Resources — budget, staff time and marketing spend are directed toward clear goals.

By value (revenue), by volume (units sold), by customers (% of total customers), and over time (tracking changes).

Customers — the percentage of total customers in the market.

Compare with competitors, set objectives, evaluate marketing campaigns, attract investors.

When comparing profitability — a premium brand may sell fewer units but earn more revenue.

The business sells lots of cheap products — many units but low revenue per sale.

If share grew after a campaign, it likely worked. If it didn't, the campaign may have failed.

Profitability; inaccurate or outdated.

Doesn't show profitability (high share ≠ high profit), data may be outdated, doesn't explain WHY share changed.

Lots of passengers (high volume) but cheap tickets (low revenue per sale).

Market share (%) = (Company sales ÷ Total market sales) × 100

Business strength and competitive advantage — makes the business more attractive for investment.

A business could have high share through low prices or heavy spending — share says nothing about margins.

No — it's useful but doesn't tell the whole story. Use alongside profitability, customer satisfaction, etc.

To see trends — is market share growing, stable or shrinking? This guides strategy.

Other data like profitability, customer satisfaction, and growth trends.