Marketing Fundamentals

Module 7: Marketing Strategy & Planning

Learning Objectives

• Set effective marketing goals
• Conduct SWOT analysis
• Analyze competitors strategically
• Create a marketing plan
• Understand budget allocation

Key Concepts

Strategy vs. Tactics Strategy: Overarching plan—what and why Tactics: Specific actions—how

Good strategy guides tactical decisions and helps prioritize.

SMART Goals

• Specific: Clear, detailed targets
• Measurable: Trackable with numbers
• Achievable: Realistic given resources
• Relevant: Aligned with business objectives
• Time-Bound: Has a deadline

Types of Objectives:

• Awareness (reach, impressions, traffic)
• Engagement (interactions, time on site)
• Lead generation (signups, submissions)
• Conversion (sales, revenue)
• Retention (repeat rate, churn)
• Advocacy (referrals, reviews, NPS)

SWOT Analysis

Strengths (Internal, Positive): What you do well, advantages Weaknesses (Internal, Negative): What needs improvement, disadvantages Opportunities (External, Positive): Favorable conditions in environment Threats (External, Negative): Obstacles and challenges

Use SWOT to: Leverage strengths for opportunities, shore up weaknesses, use strengths against threats, monitor vulnerabilities

Competitor Analysis

Identify: Direct competitors (similar products), indirect competitors (different solutions), substitutes

Analyze: Products/services, target market, positioning/messaging, marketing tactics, strengths/weaknesses, performance indicators

Create competitive matrix comparing key features

Find competitive advantage: meaningful to customers, difficult to copy, aligned with strengths, sustainable

Marketing Plan Components

1. Executive Summary
2. Situation Analysis (business overview, market, SWOT, competitors)
3. Target Audience (segments, personas, journey)
4. Marketing Goals and Objectives
5. Marketing Strategy (positioning, value proposition, messages, guidelines)
6. Marketing Tactics (specific activities)
7. Budget
8. Timeline
9. Metrics and Measurement

Start simple: One-page plan with top 3 goals, audience, key message, top tactics, budget, metrics

Budget Basics

Setting Budget:

• Percentage of revenue (5-15%)
• Objective and task method (calculate costs for goals)
• Competitive parity (match competitors)
• What you can afford

Allocation: By channel, by objective, by customer journey stage, test budget (10-15%)

Best Practices: Track everything, start small and scale, consider total cost including time, focus on ROI, adjust quarterly, maintain reserve

Exercise

Create 3-month marketing plan: situation analysis with SWOT, target audience, 3 SMART goals, strategy (positioning, message, differentiation), 5-7 tactics with goal alignment, budget allocation, timeline with milestones.