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Strategic Marketing Plan
Posted By: bondsjr22* on 10/9/2004 7:32 PM (CST) 25 Points
Marketing strategy--How do a strategic marketing plan and a marketing plan fit together?

Posted by: mgoodman Accepted Answer
10/9/2004 9:56 PM (CST)
The strategic marketing plan lays out the positioning and the strategies for key marketing mix elements. The marketing plan takes those strategies and translates them to operational specifics.

For example, you might decide (at the strategic level) that you want to achieve new trial very quickly. When that gets to the operational level, you would decide whether you want a salable trial size, a free sample, or a high-value coupon for the regular size.

Or, in the advertising area, you might decide (strategically) that you want to reach your target audience with a visual message, using a combination of print and television advertising. At the operational level, you'd have to decide what the mix would be, which stations/networks you'd use, what the mix between tv and print would be, which print vehicles, how often, full pages or half pages, etc., etc.

The strategic marketing plan lays out the broad game plan, while the marketing plan contains specifics, with estimated costs, timing, etc. Obviously, you need a sound strategic plan before you can begin the detailed marketing plan.

Hope this is clear.
 
Posted by: manoj* Accepted Answer
10/9/2004 11:54 PM (CST)
I agree with mgoodman's response, that without a strategic marketing plan (SMP), it will be difficult to execute a marketing plan (MP).

Just to clarify further, the former is macro and the latter, micro. The SMP lays out the broad goals, objectives and strategies, whereas the MP charts out the tactics to achieve the objectives set by the SMP.

An example may help:

Say, you've decided to re-position your brand from a pre-dominantly children's brand to a the young at heart, irrespective of the age (as was done by Cadbury's chocolates in India a few years ago). In this case, respositioning is the "goal", using advertising to achieve this goal a "strategy". They will come under the SMP. The actual ad, the creative and the media plan may then form the tactics of reaching the goal, which would be the MP.

I know this is a rather simple example, but simplicty always helps to clarify a concept, which is so necessary when you deal with the complexity of the real-world.

Hope it helped...
 
Posted by: manoj* Member Response
10/10/2004 12:05 AM (CST)
I just discovered that the same question has already been answered on KHE. There are some very useful posts on this page...

Here's the link:

http://www.marketingprofs.com/ea/qst_question.asp?qstID=3051
 
Posted by: Mushfique Manzoor Accepted Answer
10/11/2004 8:44 AM (CST)
hi there

great reponse from mgoodman and manoj. manoj is also right that the question was earlier asked and answered. (click on link he provided).

nevertheless, here is my answer to your question.

A strategic Marketing Plan is developed on the basis of Longterm Strategy and Objective of the company. For example, a mobile company wants to be the no 1 mobile company in the country. Thats its objecitve, has a time line to achieve. Based on that a Strategy to acheive that objective will be developed. Based on that Strategy a Strategic Marketing Plan (this is a component of the Strategy) will be developed to achieve the objective in the stipulated time.

The marketing plan is a rather short term plan, usually for a year. But this is also developed based on the Strategic Marketing Plan in such a way that the SMP and Objective is achieved within the stipulated Long term time (say 10yrs)

hope this helps.

cheers!!
 
Posted by: Val (Moderator)* Moderator Response
10/26/2004 12:48 AM (CST)
Hello all. I am closing this question, since its more than 10 days old. We do this to make sure members' contributions are rewarded in a timely manner and to improve the visibility of newer questions. Thanks, so much, for participating!

Val (Moderator)
 


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