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• Market Opportunity Analysis and Consumer Analysis introduces the students to the marketing environment and its various aspects to help them effectively engage in marketing planning

  
• Levels of business planning

  • Strategic planning
  • Functional planning
  • Operational planning
• Strategic planning


  Aims to design a long-term plan in pursuing an organization's vision, mission, goals, objectives, and values
• Strategic planning


  • Top-level management oversees this plan and decides what the business hopes to achieve in the long-term
  • Focuses on an organization's general goals and objectives, which may be subject to change due to the varying conditions and the availability of company resources
• Tools used in strategic planning

  • SWOT analysis
  • PEST analysis
  • Porter's framework
• Functional planning


  Describes an organization's tactics to achieve its outlined goals and ambitions in the strategic plan
• Functional planning


  • Short-term plan that breaks down the mission statement into actionable and achievable chunks
  • Responds to the question "How?"
  • Scope often lasts from one to two years
  • Constructed and executed mainly by the middle management in various functional areas of the business
• Operational planning


  Accomplished by the first-level supervisors, and are concerned with daily operations
• Strategic marketing


  Determines where you want to be
• Tactical marketing


  Identifies the actions you need to take to get there
• Tactics can not be created and formulated without a strategic overview
• Marketing managers


  Responsible for maintaining quality standards, measuring performance, and achieving the desired result
• Strategy


  Tells you what goals to achieve
• Tactic


  Tells you the steps involved in achieving the strategic goals
• Strategic and tactical marketing both help in achieving the organization's goals, but in different ways
• As strategy comes first and tactic second, the latter should follow and reflect the first one
• A strong tactical focus with a weak strategic focus would result in actions that lack direction
• A strong strategic focus with a weak tactical focus would result in lack of implementation
• The goal of every organization is to obtain both a strong strategic and tactical focus
• The worst situation that could happen is when an organization has both weak strategic and tactical plans
• The marketing planning process is concerned with the logical and objective way of directing an organization's resources in the long- and short-terms
• The marketing planning process focuses on key aspects of the organization and the marketplace wherein it operates
• The marketing plan provides the basis for implementing the actions needed to achieve a company's goals
• The marketing planning process is greatly dependent on the objectives set by an organization
• Strategic marketing


  Targets the organization's goals and comes from its market and customer knowledge
• Strategic marketing


  Responsible for differentiating a brand from its competitors by focusing on its strengths to create customer value and by working on its weaknesses to prevent business risks as effectively as possible
• Strategic marketing directs tactical marketing to achieve the marketing goals of an organization
• Strategic marketing is long-term in nature
• Activities involved in strategic marketing


  • Business scaling or expansion
  • Exploring new markets
  • Creating a new brand
  • Developing a new product
• A strong marketing strategy must reflect an organization's values and focus on the end goal
• A marketing strategy includes an organization's marketing objectives, KPIs, target audience, internal and external factors, resources, and marketing channels
• Tactical marketing


  Supports the marketing strategies
• Tactical marketing is short-term in nature
• Tactical marketing translates strategic marketing into chunks of actions for the successful and effective implementation of marketing strategies
• Marketing tactics


  • Generating leads
  • Building and creating websites and social media sites
  • Placing ads
  • Creating promotional campaigns
  • Offering follow-up services
  • Budgeting
• Good marketing tactics action should have definite purpose, specific timeline, and must support the strategic goals
• As a pandemic hits in 2020


  Learning delivery shifted from physical classes to online learning
• The demand for online digital learning platforms has soared
• Strategy of companies involved in education technology


  To continuously improve the quality of products and services offered to teachers and students to help them cope in the changing learning environment
• As a tactic, they hire education professionals to help them develop and produce quality materials