The Marketing Planning Cycle, External Analysis of Education in Technology, The Importance of Internal Analysis in Marketing

The Marketing Planning Cycle

The marketing planning cycle is a circular process that runs in two directions, with planning running one way and feedback the other. There is a need for continuous feedback so that monitoring and control with modifications of the plan can take place. The planning cycle needs to be as short as possible and understood by all those executives who contribute to planning. The planning process, however should be continuous.

Source : Sally Dibb, Lyndon Simkin, O.C. Ferrell, and W. Pride (1994). Marketing Concepts and Strategies. Boston : Houghton Miffin.

Here are the example of marketing planning cycle of Coca Cola Company :

1.         Development or revision of marketing objectives relative to performance

The beverage industry is expected to increase by $300 billion between 2015 and 2020, and the company continues to hold dominant market share. Coca-Cola currently has a massive share of the global beverage market. Bloomberg places Coke’s share market share in the soda market at 45% for 2015:

Source : Bloomberg

This incredible market share is very valuable, because consumers do not spend significant amounts of time contemplating which beverage to buy when thirsty. Rather than exploring all options, consumers will often seek out what is familiar, at least for a small purchase like a bottle of Coca-Cola. This creates ‘stickiness’ in the market share of a company like Coca-Cola.

2.         Assessment of marketing opportunities and resources

When the issue of resource allocation comes into action the Coca-Cola Company has given the authority to managers to use the resources of the company where ever and whenever they are needed. Only they are required to get the approval from the manager if those assets belong to his department. The resources can be capital, labor, machinery or anything else.

3.         Revision or formulation of marketing strategy

In most of the companies the strategic goals are made for long term but Coca-Cola Company’s goals are set for only three years, they change their strategies after every three years. The goals are set by the Managing Directors of the company after getting the clearance from the headquarters. Every year in the annual meeting they have a review of their strategy to make sure they are moving with the changing environment in the market.

An example of how planning at Coca-Cola works can be gauged from this year’s target for the managers to increase sales by 20% over last year’s target and increase the total customer based by 10%. This is the micro level planning which is complemented by the macro level planning which can be seen from the objectives of increasing market share ranging from 5 to 30% for the middle management in the various markets in which it operates. Further, there are operational goals which are set for the salespersons on the ground and which are to do with the point of sale and the other front end supply chain interfacing roles to actualize coordination and cooperation among the partners, bottlers, vendors, and distributors.

4.         Development or revision of the plan for implementation and control

Though Coca-Cola is organized around geographical regions and then the various departments for each region, the company emphasizes the importance of transformative leadership at both the Global and the Local levels. This means that local managers and the heads of departments in addition to the Country Heads in the various markets that the company operates in are free to decide on the appropriate strategies for their territories as long as they conform to the global norms and global culture that permeates the organization. This decentralization within centralization is the hallmark of the Glocal approach.

The controlling function also ensures that a performance development plan is prepared which takes into account the salespersons meeting the targets such as growth in sales, market development, and completion of customer and partner calls including conversion of cold calling, attendance, and the punctuality of the salesperson.

5.         Implementation of marketing plan

Before implementing these goals the manager consult them with lower level employees and after convincing them they implement the goals officially. In this type of goals the company uses Management by objectives (MBO). Every employee assigned is told about what the organization is expecting from him/her and then his evaluation is done on the basis of organization’s rules and regulations.

External Analysis of LSPR as an Education Institution in Technology Viewpoint

Used to support both teaching and learning, technology infuses classrooms with digital learning tools, such as computers and hand held devices; expands course offerings, experiences, and learning materials; supports learning 24 hours a day, 7 days a week; builds 21^st century skills; increases student engagement and motivation; and accelerates learning. Technology also has the power to transform teaching by ushering in a new model of connected teaching. This model links teachers to their students and to professional content, resources, and systems to help them improve their own instruction and personalize learning. Online learning opportunities and the use of open educational resources and other technologies can increase educational productivity by accelerating the rate of learning; reducing costs associated with instructional materials or program delivery; and better utilizing teacher time.

1.         Virtual or online learning

Many states currently support online learning opportunities that range from supplementing classroom instruction on an occasional basis to enrolling students in full-time programs. These opportunities include dual enrollment, credit recovery, and summer school programs, and can make courses such as Advanced Placement and honors, or remediation classes available to students. Both core subjects and electives can be taken online, many supported by online learning materials. While some online schools or programs are homegrown, many others contract with private providers or other states to provide online learning opportunities.

2.         Full-time online schools

The following online or virtual schools enroll students on a full-time basis. Students enrolled in these schools are not attending a bricks and mortar school; instead they receive all of their instruction and earn all of their credits through the online school.

3.         Blended learning

Blended learning opportunities incorporate both face-to-face and online learning opportunities. The degree to which online learning takes place, and the way it is integrated into the curriculum, can vary across schools. The strategy of blending online learning with school-based instruction is often utilized to accommodate students’ diverse learning styles and to enable them to work before or after school in ways that are not possible with full-time conventional classroom instruction. Online learning has the potential to improve educational productivity by accelerating the rate of learning, taking advantage of learning time outside of school hours, reducing the cost of instructional materials, and better utilizing teacher time. These strategies can be particularly useful in rural areas where blended or online learning can help teachers and students in remote areas overcome distance.

4.         Use digital resources well

Schools can use digital resources in a variety of ways to support teaching and learning. Electronic grade books, digital portfolios, learning games, and real-time feedback on teacher and student performance, are a few ways that technology can be utilized to power learning.

London School of Public Relations has implemented technology resources to improve learning activity in class and make academic affairs easier for student. For example :

1.         E-module (textbook)

2.         Subject material sent by e-mail

3.         Submit assignment to lecturer by e-mail

4.         Students allowed to use gadget (smartphone/tablet/laptop) in class as long as they use it for learning activity

5.         Internal login LSPR for students (for checking schedule, transcript, attendance)

  

Reasons Why Internal Analysis in Marketing Planning is Important

 1.         Using Resources Efficiently

Every company, even the largest ones that dominate their markets, has a finite supply of manpower, production capacity and capital. Internal analysis helps it determine how to allocate these resources in a manner that will result in the highest possible potential for revenue growth and profitability. The management team examines where the company can compete most effectively. The company often discovers it has competitive strengths that have not been fully utilized in the past.

2.         Improving Operations

When the management team looks at the company’s weaknesses, it is not to assign blame for past shortfalls in performance. It is to identify the most critical areas that need to be improved in order for the business to more effectively compete. A realistic assessment of weaknesses also prevents strategic blunders like entering a market with products that are clearly inferior to what well-entrenched competitors are offering. Continuous improvement in all areas of a company’s operations is an important aspect of staying ahead of competitors. Current weaknesses can--and must--be turned into future strengths.

3.         Opportunity for Profit Growth

Once a marketer has identified the internal it can be used to maximize profits. Strengths and weaknesses are factors that a business must identify about itself, while opportunities are generally seen as external openings to achieve growth. Opportunities can include a variety of things, such as identifying client needs that no other business is meeting. A marketer that discovers new opportunities matching its strengths will create new revenue streams for the business.

4.         Gain Perspective

An internal analysis encompasses various aspects of your business and identifies both strengths and weaknesses within your firm. It gives a well-rounded perspective on the business’ current situation.

SOURCES

Bradley, J. et al. (2006). The Marketing Planning Workbook. London : Thomson Learning.

Donnelly, R. et al. (2009). CIM Coursebook: The Marketing Planning Process. Oxford : Butterworth-Heinemann.

http://firstbase.ca/how-your-business-can-benefit-from-a-swot-analysis/

http://smallbusiness.chron.com/perform-swot-analysis-5050.html

http://smallbusiness.chron.com/swot-important-marketers-43933.html

https://www.ed.gov/oii-news/use-technology-teaching-and-learning

https://www.managementstudyguide.com/how-management-functions-are-performed-at-coca-cola.htm

http://www.suredividend.com/coca-colas-growth-potential/