MARKETING PLANNING: The Changing Marketing Environment
(First in a new series, from the Nine P’s of Marketing*)
Michael Dell of Dell Computers said that “The only constant thing about business is that everything is changing.”
The 2 Guyz would also say that about Marketing, too, along with customers or “People” and a whole lot more.
E. Jerome McCarthy gave us the 4P’s of the Marketing Mix all the way back in 1960. It’s been a great framework to learn about marketing. Much is owed to Jerome.
But the marketplace, the Internet, the economy and generating sales are always volatile. Constant change. Kenneth R. Andrews with his influential 1965 textbook Business Policy: Text and Case said that he did not set out to detail the concept of “what strategy is”. Instead he said that he chose to “sidestep the problem of drawing distinctions between objectives, policy and programs of action.
According to Andrews, strategy or strategies are the pattern or patterns of decisions in a company or firm that determine and reveal its objectives, purposes or goals, and produces the principle policies and plans for achieving those goals. It also defines the range of businesses the company is to pursue, the kind of economic and human organization it intends to be, and the nature of the economic and non-economic contributions it intends to make to its shareholders, employees, customers, and communities.
Today consumers and customers have more information about products than they have ever had in history. Well, marketing can’t stand still, and the framework shouldn’t either. After decades of working in consulting, and teaching marketing, our own Larry Steven Londre developed
his own 9P’s of Marketing. Others have tried to make gimmicky “P’s” of varying amounts, but as 2 Guyz Brian Hemsworth says, “Londre’s 9P’s is the best model for teaching and understanding today’s marketplace and the marketing environment.”
It is with this in mind that we will begin a series looking at all of the 9 P’s in the new business environment. This is highly recommended reading for marketing students, entrepreneurs, company presidents and CEOs, and yes, even marketing professionals.
The 9 P’s of Marketing contain numerous valuable concepts, elements, terms and definitions to help find and explain problems, and aid in the understanding of Marketing and related activities. We teach and consult that the nine P’s/9P’s of Marketing can be used successfully by product companies, service firms, for profits entities and nonprofits “selling” directly or indirectly to consumers (B2C), to marketing intermediaries (such as industrial, consumer, retail, wholesale and professional channels of distribution), and to other businesses (B2B)
But it all begins with planning. What are the important actions of planning? Lets start with research.
Marketing research is that function that links the consumer, customer, and public (“People”) to the marketer through information—the information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method or methods for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.[1]
Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must begin to make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
The first must review how to divide the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
The firm then makes offerings to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
It’s good to note that Albert Einstein said: “Not everything that counts can be counted, and not everything that can be counted counts.” Planning includes observing what to do and what not to do in the marketplace. It includes research and developing a vision for each of the remaining nine P’s.
Critical thinking thoughts from the 2 Guyz on Marketing are based on a quote by Leonardo da Vinci: “Principles for the development of a complete mind: Study the science of art. Study the art of science. Develop your senses, especially learn how to see. Realize that everything connects to everything else.
For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.
*Created by Larry Steven Londre. Copyright 2007
[1] https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx