Planning Framework

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Planning Framework

Market Strategy & Situation Analysis

Market Strategy includes long term vision and objectives that the company sets in order to occupy a market share in the years to come. This is typically achieved by lowering the prices as compared to the competitor or by producing differentiated products.

The development of Market strategy begins with Situation analysis. Situation analysis includes:

• nature of demand
• extent of demand
• nature of competition
• environmental climate
• stage or product life cycle
• cost structure of the industry
• skills of the firm

Marketing Plan

Marketing Plan includes planning, implementation and control functions for the total corporation or a particular product line.

Communication and Persuasion Process

It is crucial to have an effective communication while making an ad campaign; if the message is not correctly received by the audience, the entire advertising effort goes to waste. The process of communication and persuasion involves the following steps:

1. source
2. message
3. channel
4. receiver
5. destination

Advertising plan and decision making

Advertising management is involved in development, implementation and controlling of the advertising plan.

1. Planning as a process involves the generation and specification of alternatives and decision making concerns the choice of the best alternative.
2. These alternatives must be in sync with the objectives and the target market which must first be carefully evaluated and specified.
3. Then copy alternatives must be developed and analyzed in correlation to both content and execution. The decisions made at this stage take the form of the advertising campaign adopted in a particular situation.

Note: media alternatives need careful specification and analysis, and decisions must be made on how much money to spend and where to allocate in each, planning and decision making process.

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