Marketing Strategy Procedure | MP1060

Marketing Strategy Procedure

The purpose of the Marketing Strategy Procedure is to identify potential customers, messages, methods and ensures that the right product and message reach the right market segment.

The Marketing Strategy Procedure applies to the strategy team and the President/CEO. (14 pages, 1722 words)

Marketing Strategy Responsibilities:

The Strategy Team is responsible for developing marketing strategies, verifying them with Department Managers and other key personnel, and communicating them to appropriate parties.

The CEO (Chief Executive Officer) is responsible for strategy approval.

Marketing Strategy Definitions:

Cost leadership–  A strategy of achieving leadership in an industry or line of business by offering products/services at a lower cost than competitors. Requires efficiency, tight cost and overhead control, avoiding marginal accounts, and cost minimization in areas like research & development. One of three “generic competitive strategies”, according to Porter; the other two are Differentiation and Focus.

Differentiation – A strategy of achieving leadership by creating a product/service that is perceived throughout the industry as unique. Differentiation may take the form of design, brand image, technology, features, service, or other dimensions; ideally, the company will differentiate itself along multiple dimensions.

Focus – A strategy of achieving leadership within a particular target market by serving that market more effectively or efficiently than competitors trying to serve a broader market. This may enable the focused company to have cost leadership or differentiation within the target market, or both.

Strategy – A long-term plan of action designed to achieve a particular goal; a broad, non-specific statement of an approach to accomplishing a desired goal. A strategy relates to why and how a plan will work, relative to all influences upon the company and its activities (in particular, its customers and competitors).

Marketing Strategy Procedure Activities

  • Marketing Strategy-Introduction
  • Developing Marketing Strategy
  • Finalizing Marketing Strategies
  • Marketing Strategy Review

Marketing Strategy Procedure Forms

 

The goal of strategy is to describe how and why the company is going to achieve its goals and objectives AND to that end, the company must ensure that its strategies are aligned. Marketing strategies should identify customer groups the company can serve better than its competitors and tailor its product offerings, prices, distribution, promotional efforts, and services to those target market segments. Good marketing strategies helps the company concentrate its efforts on the markets it can serve best.

It is crucial that the company’s strategy takes into account all aspects/functions of the company, so that the whole organization proceeds in the same direction with the same purpose. The company’s strategy is more likely to yield positive results if all employees, contractors, etc., understand and agree with them.

Strategy is the result of relevant research and analysis, as appropriate; and synthesizing the parts into a cohesive unit to develop the Marketing Plan. But actions taken alone are just tactics. In order for your business to survive and grow your Marketing Strategy Plan must be competitive.

Competitive Strategy

Creating strategic growth is based on a strong foundation that is competitive. Michael Porter outlines three “generic competitive strategies” in his book Competitive Strategy: Techniques for Analyzing Industries and Competitors: cost leadership, differentiation and focus.

COST LEADERSHIP STRATEGY

A strategy of achieving leadership in an industry or line of business by offering products or services at a lower cost than your competitors. A Cost Leadership Strategy requires a focus on efficiency, tight cost and overhead internal controls, and cost minimization in areas like research & development. In other words it requires a system of policies and procedures. Your Policies and Procedures Strategy provides the basis for a sound cost leadership strategy.

DIFFERENTIATION STRATEGY

A strategy of achieving leadership by creating a product/service that is perceived throughout the industry as unique. A differentiation strategy may take the form of design, brand image, technology, features, service, or other dimensions; ideally, the Company will differentiate itself along multiple dimensions. A focus on quality could be a key differentiator. Getting Quality awards help strategy differentiation.

FOCUS STRATEGY

A strategy of achieving leadership within a particular target market by serving that market more effectively or efficiently than competitors trying to serve a broader market is a focus strategy. This may enable the focused Strategy company to have cost leadership or differentiation within a tightly focused target market, or both.

Situational Analysis Procedure | MP1040

Situational Analysis Procedure

The purpose of the Situational Analysis Procedure is to develop an understanding of where and how your company is situated and how it interacts with the business environment. The situation analysis policy realistically evaluates your company’s current situation and prospects in order to develop a meaningful business and marketing strategy.

The Situational Analysis Procedure also helps you know where your company stands, where it wants to go, and how it is going to get there, leveraging its strengths and correcting or minimizing its weaknesses.

The Situational Analysis Procedure applies to your company’s President/CEO, the marketing manager, and sales manager. (12 pages, 1988 words)

Strengths and weaknesses, when compared and contrasted with opportunities and threats, offer meaningful insight into the company’s condition and potential. The value of situational analysis lies in bringing all this information together, helping the company evaluate and prioritize critical issues.

Situation Analysis Responsibilities:

The CEO (Chief Executive Officer) is responsible for ensuring the situational analysis is appropriate for developing marketing and sales strategies.

The Strategy Team is responsible for gathering information on the company’s situation, analyzing the information, and preparing and presenting a situational analysis report.

Situation Analysis Definitions:

Situational analysis – An in-depth process for developing an understanding of the needs of the customer, which involves a combination of data gathering techniques conducted from a variety of internal and external perspectives; a methodology used to aid the organization’s strategic planning process; identifying, evaluating, and planning around the organization’s strengths, weaknesses, opportunities, and threats.  Also known as a “SWOT analysis.”

SWOT – Stands for “Strengths, Weaknesses, Opportunities, and Threats,” aspects of a situational analysis.

Situational Analysis Procedure Activities

  • Situation Analysis- Introduction
  • Assessing the company’s Situation
  • Scoring Attributes
  • Analyzing the Data
  • Situation Analysis Report

Situational Analysis Procedure Forms

 

Today, even the smallest companies are quickly becoming very complicated workplaces. As a business leader, you must cope with rising taxes, increasing regulations, growing competition, a struggling economy, increasing technological complexity, and even the mounting threat of violence and fraud in your workplace.

The consequences? The old rules of growing a business aren’t effective and the new rules are more complex than ever. With all of this going on, how can you reduce complexity in your business? A Situational Analysis Procedure is one way, what are others?

A Look at the Facts

  • Regulations affecting small businesses are up 36% over the past five years alone. Business owners must contend with an alphabet soup of regulations: OSHAFMLA, FLSA, HIPAA, FCRA, ADA, ERISA, ECOA, FDCP, FCBA, IRCA, TILA, EPPA, ADEA, and so on.
  • Competition is intensifying at an accelerating pace. By century’s end, America’s share of world gross domestic product declined to roughly 20% from a high of 40% at the end of World War II. Customers now demand ever-improving quality (ISO 9001), innovation, pricing, and just-in-time delivery — demands that stress smaller businesses that are already running flat out.
  • As recent as ten years ago, few small businesses used accounting software or had a local area network and most certainly did not have email or a website. Today, this is common. But now, so are issues of acceptable Internet use, information security, training, or software piracy.
  • One in twenty workers are physically assaulted, one in six workers are sexually harassed, and one in three workers are verbally abused in the work force, each year. Now add the events of 9/11 and there is a heightened sense of fear in business today. But, OSHA requires that all businesses with employees, large and small, provide a safe and healthy workplace.

Many agree that the business world has undergone a clear and definite paradigm shift. Now, with the wealth of opportunities that accompany a globalizing economy, there arises not only an accompanying proliferation of hazards but also an expanding universe of compliance and detail. The longer a small business lives, the greater the complexity. Thus, the harder it is to reduce complexity.

And this phenomenon taxes small businesses, which are typically resource constrained, more than large ones. In sum, for small businesses today there is much more to gain, much more to keep track of and comply with, and much more to lose, than ever before.

Sales Hiring Procedure | AD1040

Sales Hiring Procedure

The Sales Hiring Procedure create a sales staffing plan that produces a fair, consistent, and coherent sales staffing process. By hiring a professional and competent sales staff, your company improves the sales process, and contributes to reaching sales goals and overarching business goals.

The Sales Hiring Procedure applies to sales management while recruiting and hiring members of the professional sales staff. (22 pages, 4210 words)

Sales Hiring Responsibilities:

The Sales Manager should determine important and necessary criteria used in hiring for Sales personnel positions, and then create and implement the AD1040-1 QUALIFICATION CHECKLIST and the AD1040-2 INTERVIEW GUIDELINES.

The Human Resources Manager should assist the Sales Manager with the hiring process.

All Sales Personnel should participate in the hiring process as directed by the Sales Manager.

Sales Hiring Procedure Definitions:

Applicant – Respondents to an advertised or posted position with the Sales personnel.

Candidate – Applicants selected for interviews, and are being considered to fill a Sales personnel position.

Sales personnel – The professional Sales personnel responsible for conducting sales call and closing sales.

Sales Hiring Procedure Activities

  • Sales Staffing Plan
  • Selecting a Sales Candidate
  • Interviewing Sales Candidates
  • Second Interviews and Making an Offer
  • Monitoring the Sales Hiring Process
  • Improving the Sales Process

Sales Hiring Procedure References

  • Immigration Reform and Control Act of 1986 (IRCA)
  • Age Discrimination in Employment Act
  • Equal Pay Act
  • Americans With Disabilities Act (ADA)
  • The Civil Rights Act of 1991
  • Fair Labor Standards Act (FLSA) of 1938
  • Davis Bacon Act
  • Walsh-Healey Public Contracts Act (PCA)
  • Service Contract Act (SCA)

Sales Hiring Procedure Forms

 

Sales Supplies Procedure | AD1020

Sales Supplies Procedure

The purpose of the Sales Supplies Procedure is to identify materials that your company’s salesperson needs to communicate effectively when calling on your potential customers. The supply procedure also ensures that each salesperson is adequately supplied when making contact with the target market.

The Sales Supplies Procedure pertains to your company’s marketing and sales departments. (6 pages, 897 words)

Sales Supplies Responsibilities:

The Marketing Manager and the Sales Manager are responsible for ensuring maintenance of the Sales Supply list (database), ensuring that there are adequate sales supplies to satisfy all salespersons’ requirements, and ensuring that salespersons are adequately trained in the use and purpose of sales supplies.

The Sales Manager is responsible for fulfilling supply orders/ reorders.

The Sales Representative is responsible for maintaining adequate levels of sales supplies.

Sales Supplies Definitions:

Collateral – (adj.) Serving to support or reinforce; (n.) Material traditionally developed and provided by Marketing to help Sales focus on the customer needs analysis, build a case for the product, help the customer understand the value of the product, offer proof points, ensure that the buyer sees and understands that the company’s product provides the most effective solution to their problem, and target specific scenarios based on a customer’s industry and job function.

Proof point – Proof (of a concept, idea, etc.); something that induces certainty or establishes validity in the mind of the potential customer.

Sales Supplies Procedure Activities

  • Identifying Sales Supplies
  • Supplying Salespeople
  • Measuring Use and Effectiveness of Sales Supplies
  • Updating the Sales Supply List

Sales Supplies Procedure Forms

 

Sales Training Procedure | AD1050

Sales Training Procedure

The purpose of the Sales Training Procedure is to identify important subject areas for competency, create a sales training plan that meets training needs, implement the plan, and monitor and improve the plan as required.

The Sales Training Procedure applies to sales management and the sales department in creating and executing the sales training plan. strong> (18 pages, 1540 words)

Sales Training Responsibilities:

The Sales Manager should create and implement the AD1050-3SALES TRAINING PLAN, and maintain the AD1050-1SALES COMPETENCY MATRIX and AD1050-2 INDIVIDUAL SALES TRAINING RECORD.

Top Management should approve the AD1050-3 SALES TRAINING PLAN.

All Sales Personnel should participate in the department training as specified in the AD1050-3 SALES TRAINING PLAN

Sales Training Plan Definitions:

Training – Any formal or informal, organized effort or instruction to improve knowledge, skills, or competence levels.

Skill – An ability, coming from one’s knowledge, practice, aptitude, etc., to do something consistently well

Competency – The quality of being adequately or well qualified physically and intellectually to perform particular tasks.

Sales Training Procedure Activities

  • Sales Training Plan
  • Sales Training
  • Monitoring Sales Training
  • Improving Sales Training

Sales Training Procedure Forms

 

Sales Training System Pieces

Want conflict? Try to do everything at once. New Business needs a central point of control to prioritize opportunities and match them with limited resources. Program managers need processes and coaching for evaluating, bidding, winning new programs. Someone has to dole out production resources to service the business once you win it.

Sales Culture

Even if your company was founded on technical expertise and problem-solving capabilities, a sales culture gives you the rudder to steer for the growth you want, for the growth that throws off cash today, and builds asset value in your company. Keep in mind growth requires an adequate sales training plan.

Marketing Message

You and all your employees, customers, referral sources, partners, need to know what you are selling, to whom, and what makes you special. A consistent story should validate and support conversations happening every day.

Lead-Generation

Even with a sales culture, as an executive you need to spend your time closing deals, not prospecting for them. Lead Gen creates leverage through the Internet to give lookers a reason to call, a buyers a reason to talk. Spend time closing deals, not opening doors.