The Marketing Plan
Read this chapter, which discusses marketing planning roles, the parts and functions of the marketing plan, forecasting, and the structure of a marketing plan audit. It also discusses PEST Analysis and other external factors that affect marketing decisions. This chapter reviews other concepts we've discussed so far. Key takeaways include the steps in the forecasting process. You will be able to identify types of forecasting methods and their advantages and disadvantages and discuss the methods used to improve the accuracy of forecasts. Lastly, you will apply marketing planning processes to ongoing business settings and identify the role of the marketing audit. Answer the discussion questions at the end of the chapter.
Marketing Planning Roles
LEARNING OBJECTIVE
- Identify the people responsible for creating marketing plans in organizations.
Who, within an organization, is responsible for creating its marketing plans? From our discussion above, you might think the responsibility lies with the organization's chief marketing officer (CMO). The reality is that a team of marketing specialists is likely to be involved. Sometimes multiple teams are involved. Many companies create marketing plans at the divisional level. For example, Rockwell International has so many different business areas that each does its own strategic planning. The division responsible for military avionics, for instance, creates its own marketing plans and strategies separately from the division that serves the telecommunications industry. Each division has its own CMO.
Some of the team members specialize in certain areas. For example, the copier company Xerox has a team that specializes in competitive analysis. The team includes an engineer who can take competitors' products apart to see how they were manufactured, as well as a systems analyst who tests them for their performance. Also on the team is a marketing analyst who examines the competition's financial and marketing performance.
Some marketing-analyst positions are entry-level positions. You might be able to land one of these jobs straight out of college. Other positions are more senior and require experience, usually in sales or another area of marketing. Marketing analysts, who are constantly updating marketing information, are likely to be permanent members of the CMO's staff.
In some consumer-goods companies with many brands (such as P&G and SC Johnson), product – or brand – managers serve on their firm's marketing planning teams on an as-needed basis. These individuals are not permanent members of the team but participate only to the extent that their brands are involved. Many other members of the firm will also participate on marketing planning teams as needed. For example, a marketing researcher is likely to be part of such a team when it needs data for the planning process.