UNDERSTANDING THE 4 STAGES OF MARKETING PLANNING PROCESS
Step 1 – Research and Analysis of Relevant Information
This is the starting point of the marketing approach. Without research (without information), the company works blindly.
Marketing research focuses on (but is not limited to) anything that is relevant to the business.
According to military strategist Sun Tzu … “The time spent on knowledge is rarely wasted. “
Step 2 – Strategic Direction and Action Plan (Segmentation, Targeting, Positioning)
Once the research phase is over, and after identifying the different potential market segments, the company’s strategists / decision-makers must choose the target customer segments with which they want to do business.
By analyzing their skills and comparing them to the conditions of success associated with each market segment, the company will choose the target market segments with which it wishes to do business.
The company will then work to study as precisely as possible its target customers in order to choose the most appropriate strategic positioning to satisfy them.
Choose a generic strategic positioning
According to Michael Porter (1982), there are three broad generic strategies for dealing with and overcoming competition. These three broad generic strategies for dealing with competition are:
1. Overall dominance in terms of costs;
2. A differentiation of the offer;
3. A concentration of the activity.
By choosing its strategic positioning (a significant difference that the company intends to put in the minds of consumers), the company chooses at the same time the generic strategy that it will put forward to face the competition. Deciding on the positioning is one of the most important stages of the 4 stages of marketing planning process as it forms the base for all the marketing activities for the company in the future.
Strategic planning of the marketing activity
The company then expresses its position through its action plan (marketing plan) .
It presents all marketing strategies and tactics, ie the structured intervention on all the components of the marketing mix of the company. The company’s marketing plan is an integral part of its business plan (which reflects the business model of the company).
Choose a specific strategic positioning
According to Philip Kotler, choosing his specific positioning is a significant difference in the minds of the targeted customers.
The positioning takes the form of a value proposition that answers the question “Why would I buy this brand? “
Step 3 – Implementation
After the research stage, once the strategic direction and the marketing plan have been decided, the company must obviously take action. In fact, she simply needs to do what she plans to do at the strategy and action plan stage. What in practice is not always as easy to achieve as it is to plan. To succeed the leader must be able to federate (mobilize / rally) the troops around a common goal which consists of the implementation of the strategy and the marketing plan.
This is probably the most difficult step. Thomas Bonoma in his book – The Marketing Edge: Making Strategies Work (New York, The Free Press, 1985) argues that most marketing strategies are good but the implementation is flawed.
The success of a food company’s business model depends on the perfect execution of its strategy and business plan . And, the perfect execution of the business plan also means the perfect execution of the strategy and the marketing plan which is one of the main components of the business plan.
Step 4 – Evaluation of the results
Marketing control is the last step in the marketing process. The most successful companies measure everything, all the time. They monitor market reactions, evaluate results, and take corrective actions to improve their performance, and so on.
Step 5 – Learn and Adapt
We believe it is relevant to complete the four steps of Philip Kotler’s marketing approach by adding a fifth step of learning and adapting.
In the end then, after having realized the four stages of the process and analyzed, as it should, the results obtained, the company draws the necessary conclusions, it learns and acts accordingly and then it recommences its approach. in an endless process.
This concludes the 4 stages of marketing planning process