Standardization European marketing strategies in Consumer Electronics Industry


 

Intro

1 - Terminology

2 - Market segmentation

3 - Program standardization

4 - Process standardization

5 - The general standardization model 

6- The consumer electronics industry

7 - Methodology of research

8 - Qualitative research results

9 - Quantitative research results

10 - Conclusions

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Appendix:  the pharmaceutical industry

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4.1.2    Marketing planning and control process - Part II

The marketing planning and control process is often defined as (Hopkins, 1983; Kotler, 1988):

The process of defining the action steps, priorities and schedules by which the marketing strategy will be implemented and making sure that the company is achieving the objectives that are stated in the marketing plan within the determined budget.

 The following steps and activities can be distinguished (≠Nieuwland, 1994):

 Figure 4.2 The Marketing Planning and Control process (MP&C)

market planning control process

The assumption is made that the output of this process, called the marketing plan by marketing people, covers a time period of one year. The input of the annual marketing plan is the strategic marketing plan, which is the output of the preceding process. When it concerns an international company, it means that the marketing planning and control process will be done on Product Group-level (R.T., 1995). As consequence of this, a more standardized Pan European or worldwide marketing plan becomes feasi≠ble, leading to many advantages in efficiency and effectiveness (Halliburton & HŁnerberg, 1993; Kreutzer, 1989).

The steps shown in the figure above will be explained below:

Research of marketing mix and control.

Like the strategic marketing planning process, this process also begins with research and analysis of the marketing and consumer environment. Besides, research for the marketing mix is necessary, which is focused on sensitivity analysis to various elements of the marketing mix, analysis for r≠eseller satisfaction, market response, goal achievement, etc.

Financial forecasting.

Before the annual objective can be determined, the financial situation has to be forecasted. On the revenue side it shows forecasted sales volume and average realized price, on the expense side it shows the forecasted cost of production, physi≠cal distribution and marketing. The difference is the expected profit (Kotler, 1988).

Objectives setting.

The annual objectives can be stated for the one year strategy (for example, increase market share by x% or improve brand awareness by y% in that year) as well as for specific statements concerning marketing activities. An example of a specific statement is: decrease cost of sales force as a percentage of sales, improve advertising awareness or improving company image. These statements have to be quantified and a time horizon has to be set.

Marketing strategy and action program.

When the objectives have been set, the marketing managers have to refine the strategic marketing plan to the annual marketing plan. Specific marketing tactics have to be developed besides the action programs. The action programs contain the marching orders in response to the question "How will we get there?", and the actual steps by which strategies will be implemented to reach the established objectives (Hop≠kins, 1983).

Control

The last step of the marketing planning and control process is control, which forms a distinct process itself. The control of the annual marketing plan will be handled by the management of the PMC.

To implement the marketing strategy, marketing management has to decide what level of marketing expenditures is necessary to achieve the marketing objectives. The total budget has to be allocated among the several marketing activities and tools in the marketing mix (Kotler, 1988). During the implementation of activities, the company has to review the process of marketing and sales activities regularly throughout the year. These reviews provide an opportunity to listen to weak signals and to redirect any parts of the planned action program that are off target (Hopkins, 1983).

 

Marketing-Process-Standardisation /  Market-Planning-and-Control-Process / New-Product-Development-Process / Marketing-Communication-Process / Sales-and-Services-Process / Benefits-and-Development-of-Process-Standardization

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