UoLCMI Day2

Level 5 Diploma in Management and Leadership Unit 5008 Marketing Planning Day Two

The purpose of a plan? Where are we now Where do we want to be

Marketing Plan A management summary Market situation SWOT and PESTLE analysis Marketing objectives Marketing strategies Action programme Budgets/financial implications Controls and evaluation Contingencies Appendices

SOSTAC S ituational Analysis External and Internal analysis: e.g. market, customer & competitor characteristics, SLEPT analysis, SWOT analysis, available resources etc. O bjectives What do we want to achieve? S trategy How are we gong to achieve this? T actics Positioning, marketing mix & communications A ction How do we get an effective implementation - training & budgets C ontrol Evaluation and feedback to continually improve

Scanning the Environment What affects demand? Uncontrollable Competition What else? Controllable The Marketing Mix Product Price Place Promotion Process People Physical evidence

Main factors - assessing markets P olitical E conomic S ocial T echnological L egal I nternational E ducational D emographic

Marketing excellence “ Marketing excellence is achieved not through ignorance and guesswork but through a really detailed understanding of your market, a clear focus upon segmentation and differentiation, and a compelling value proposition.” Colin Gilligan (adapted from de Kare-Silver)

Harley Davidson What we sell is the ability for a 43 year old accountant to dress in black leather, ride through small towns and have people be afraid of him.

Porter’s core competitive strategies Cost Differentiation Focus STUCK IN THE MIDDLE The Wilderness The Killing Fields

Customer Analysis Who is in the market? What power do they have? What do they buy? Why do they buy? Who is involved in the buying process? (Influencers) How do they make decisions? When do they buy? Where do they buy? What are the trigger points in their decision making process? What else?

Managing Customers How much do you know about your current customer base? How good are your databases? How good is the management of your databases? What do you need to exploit this further? What else do you need to know about your customers? How can achieve this?

Maslow Customers buy benefits (and solutions that fit their needs) not products

Customer Segmentation Lifestyle/culture Age Marital status/children Income Socio-economic group Occupation Location Peer group pressure Home ownership Personal financial management Clustering of factors

Student Typology Conventional undergraduates (25% of ugs) “ Second Chance/Time” undergraduates Studying on own (35% of ugs) “ Second Chance/Time” undergraduates Studying at institution (40% of ugs) Mobile postgraduates (25% of pgs) Conventional postgraduates (75% of pgs) life-long learners

Recognition & Flexibility High High Low Low Flexibility International Recognition Study locally 2 nd Chance/Time Part-time at Institution Mobile Postgraduates Conventional Undergraduate Conventional Postgraduate 2nd Chance/Time Studying on Own Life-long Learners

Conventional Postgraduates Who they are Average age 35 57% male 86% are working full-time 63% for locally owned organisations 19% work in medicine 17% in banking, finance & insurance 13% work in government

Conventional Postgraduates Approaches to studying Most are paying for course themselves Subject content is critical to choice Important that qualification is recognised by employers by their professional bodies in country where they are working

Conventional Postgraduates Why they are studying Looking for internationally recognized qualification Part of planned career move They might prefer full-time course, but this is not an option because of cost, time, career implications UOL is often first choice as alternative to full-time study They are attracted by the flexibility of the course offerings All the other programs I looked at you had to spend every week in school in night classes, or you had to log in at specific times. The University of London was the only one without those requirements. US Postgraduate Student

Your segmentation Can you segment your customers, if so how? Why have you chosen these criteria? What does each segment expect? How so you shape what you offer (i.e. products and/or services) accordingly for each segment.

Internal environment The ‘internal environment’ includes anything that the organisation has control over. workforce the products and services it offers financial position resources management culture.

SWOT Analysis Positive Negative Internal STRENGTHS WEAKNESSES External OPPORTUNITIES THREATS

What next? So what are our options

Strategic Planning Process 2 Establish mission and goals Set corporate objectives Select strategies Develop plans Analyse environment Competitor Information Strengths and weaknesses internally Opportunities and threats in external environment Customer requirements

Marketing objectives Marketing objectives are set to complement the strategies identified. They usually relate to: Market share Products or services to be offered Growth in usage of services. SMART objectives

Specific Measurable Achievable Realistic Time-Limited What could you set for your division?

Potential Tactics Product Price Place Promotion Process People Physical evidence What is the scope to change/influence? What might be the impact if you did?

Pricing factors Competitors’ prices Discounts offered Quality and image of the product Disposable income and lifestyle Personal objectives or utility Value for money Personality and culture Perceived risk Previous experience and loyalty

Place “To ensure that products and services are available to target customers in the ‘right place’ and at the ‘right time’.” Availability in the ‘right quantities’ in the ‘right condition’ with the ‘right degree’ of advice and service.

Channel decisions Channel length number of intermediaries or ‘levels’ Types of intermediaries Channel/market coverage number of intermediaries at any one level Respective tasks, responsibilities and terms for various channel members.

Channel lengths One-level channel fast moving consumer goods Two- (or more) level channels use of wholesalers Zero-level (direct marketing) incl. e-commerce, internet sales

Promotion “… that combination of individual promotional tools selected by an organisation in order to promote a particular product to a particular target audience.” Lancaster and Withey (2003) Advertising Personal selling Sales promotion Publicity and public relations Direct mail

Processes A business process is any process (including all the activities and all associated inputs) that an organisation must carry out to deliver outputs to its customers. Core processes For external customers Support processes For internal customers Customer service

The cost of bad service 96% of dissatisfied customers do not complain directly. 90% will not return. One unhappy customer will tell nine others. 13% will tell at least 20 other people Customers pay more for better service Whitehouse Office of Consumer Affairs research in 1980’s

Defining Quality Customer Service The appearance of facilities, equipment, personnel and communication materials. Tangibles The caring, individualised attention provided to the customer. Empathy The knowledge and courtesy of employees and their ability to convey trust and confidence. Assurance The willingness to help customers and provide prompt service. Responsiveness The ability to perform the promised service dependably and accurately. Reliability Definition Service Dimension

Customer Service Satisfaction Factors Faculty / staff attitudes Personalisation of services and instruction Problem solving ability Information access and usability Information accurancy and reliability Service and institutional efficiency Responsiveness Message handling Student runaround

Achieving differentiation in service quality Value to Customers Customer perception of performance High Low High Low Underperformance Overkill Target Area

An implementation diagram Confused / lax implementation Internally market the plan Is the plan logical, coherent and based on a clear understanding of environmental demands? Are we capable of implementing the plan at this stage? Has the plan been communicated to staff and received full support? Is there a driver with the authority and the commitment needed to ensure full implementation? Do we have a contingency plan ? Implementation misdirected and a waste of time and effort Revise plan Identify gaps in capability Build capability / revise plan The plan may falter, after an initial period of enthusiasm Find a driver / revise plan Problems if we hit the unexpected EFFECTIVE IMPLEMENTATION

Monitoring, review and evaluation What has happened? How does this compare with the standards of performance? What explanations are there for any differences between standards and actual performance? What action needs to be taken and by whom?

Did we meet our objectives? By now you are able to Understand your role in relation to your organisation, clients, customers and stakeholders, and the wider environment in which your organisation operates Identify, predict and monitor the needs of customers/stakeholders Plan to meet stakeholder requirements.

Report Describe the role of marketing in identifying and predicting the needs of current and potential stakeholders. A brief report of 800-1000 words that should apply to your individual role. If there’s no marketing element to your role, write about the University of London (or your own institution) as a whole. Deadline: Friday 12 June.

[email_address] Tel: 7664 4818 [email_address] Tel: 7862 8399

UoLCMI Day2

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