Strategic Marketing Plans
Development of Strategic Marketing Plans for Australian Businesses
Strategic marketing plans are comprehensive roadmaps that guide businesses towards success by identifying their unique selling points, competitive advantages, and target audiences.
Marketing is often confused with promotion. While promotion is one marketing tactic, a proper marketing plan focuses on identifying key customer groups, relevant and meaningful value propositions, and the reasons prospective customers would prefer to acquire services or products from your business. This calls for identifying competitive advantage to drive customer preference and financial results from a marketing strategy.
Our Strategic Marketing Plans follow a methodology created by Processor Malcolm McDonald, an Emeritus Professor at Cranfield University School of Management and one of the best-known marketing authorities in Europe. Professor McDonald has founded The Malcolm McDonald Academy, where he teaches best practices for creating and executing Strategic Marketing Plans. He has many books – visit this page for more information.
We thank Professor McDonald for allowing us to use his intellectual property to develop strategic marketing plans for Melbourne businesses.
Mike has used Professor McDonald’s methodology to create strategic marketing plans for LOT Polish Airlines, NZCU South – one of the largest credit unions in New Zealand and The Greater Metropolitan Cemeteries Trust in Melbourne.
How We Work
We work with marketing teams and business owners to help them prepare a strategic marketing plan. We facilitate the process through workshops and one-on-one support and consultation.
The creation of a strategic marketing plan takes between two to five months depending on the size of the business, its competitive position and the complexity of the stakeholder base.
Typically a project will consist of three phases: Discovery, Background Work & Strategic Marketing Plan Preparation.
Three Typical Phases of a Project
1. Discovery - understanding your business and its marketing challenges. It is a high level review of your:
- Understanding your industry & marketing strategy audit
- Review of your market position and the marketing process used in your business to generate sales and shareholder value
- Evaluation of your marketing team's capabilities
- Understanding your overall market business objectives and their alignment with your current strategy
2. Background work
- Detailed review of the marketing plan/strategy
- Project development and scope approval
- Project plan creation and approval
- Strategic Marketing Plan prepration
3. Strategic Marketing Plan preparation
- Explaining a Strategic Marketing Plan process to the team and internal stakeholders. The process is broken up into easy to understand steps corresponding with to project plan.
- Executing a project plan with the marketing team – facilitating strategic marketing plan preparation through a series of workshops and one-one-one consultation.
- Reporting to the management on project progress.
- Project milestone completion – presentation to the management/internal stakeholders. Approval of each project completed stage.
- Overall project completion and presentation to the management team/stakeholders.
We are committed to helping businesses like yours thrive in the ever-evolving marketing landscape. Our marketing audits and high-level strategic marketing plans will give you the insights and strategies needed to stand out, attract customers, and achieve your business goals.
We will work closely with you to ensure your strategic marketing plan is tailored to your business needs. With our expertise and data-driven approach, we will help you navigate the complexities of the marketing landscape and achieve long-term success.
10 Benefits of an Effective Strategic Marketing Plan
- Clear Direction and Focus: A strategic marketing plan guides your business towards specific goals and objectives.
- Improved Decision Making: A strategic plan based on data and insights helps you make informed decisions about resource allocation, messaging, and target markets.
- Enhanced Resource Allocation: By prioritizing key initiatives, you can optimise your budget and allocate resources effectively.
- Increased Efficiency: A clear plan can streamline your marketing efforts, reducing waste and improving overall efficiency.
- Enhanced Brand Awareness: A strategic plan can boost brand recognition and visibility by defining your brand’s identity and messaging.
- Improved Customer Relationships: A well-executed marketing plan can foster stronger relationships with your target audience.
- Increased Sales and Revenue: By effectively reaching and engaging your target market, you can drive sales and increase revenue.
- Competitive Advantage: A strong strategic marketing plan can help you differentiate your business from competitors and gain a competitive edge.
- Risk Mitigation: By identifying potential challenges and opportunities, a strategic plan can help you mitigate risks and prepare for unforeseen circumstances.
- Measurable Results: A well-defined plan with clear KPIs allows you to track progress and measure the success of your marketing efforts.
In today’s competitive landscape, offering a good product or service is not enough; you must provide something exceptional. We are here to help you unlock this greatness!
Businesses That Failed to Identify Their Point of Difference
- Blockbuster: Despite being a dominant force in the video rental industry, Blockbuster failed to adapt to the rise of streaming services like Netflix. The company’s inability to differentiate itself from its competitors ultimately led to its downfall.
- Kodak: As a pioneer in photography, Kodak struggled to recognise the disruptive potential of digital photography. The company’s focus on traditional film products hindered its ability to compete in the new market, leading to significant financial losses
- Nokia: Once a leader in the mobile phone market, Nokia failed to capitalise on smartphones’ growing popularity. The company’s reliance on its Symbian operating system prevented it from keeping pace with competitors like Apple and Samsung, resulting in a decline in market share.
- Compaq: As a major player in the personal computer industry, Compaq struggled to differentiate itself from competitors like Dell and HP. The company’s lack of a unique selling proposition made it difficult to compete on price or features.
These examples illustrate the importance of identifying a strong point of difference in today’s competitive marketplace. Businesses that must differentiate themselves or risk becoming commoditised and losing market share to competitors.