Marketing Planning and Organization

These vocabulary flashcards cover the fundamental concepts of marketing planning, ranging from management processes and situational analysis to budgeting methods and hierarchical planning levels.

Marketing as a Management Function

A systematic decision-making behavior realized through a management process consisting of four phases: analysis, planning, implementation, and control.

Marketing-Konzeption (Core Elements)

The heart of marketing planning consisting of three levels: Marketing Goals (Where?), Marketing Strategies (How?), and Marketing Instruments (Which means?).

SWOT Analysis

A situational analysis tool used to identify external Opportunities and Risks, and internal Strengths and Weaknesses.

PESTEL Analysis

A macro-environmental analysis framework covering Political, Economical, Social, Technological, Ecological, and Legal factors.

Complementary Goals

A goal relationship where the achievement of one goal supports the achievement of another, such as sales and profit goals.

Indifferent Goals

A goal relationship where the achievement of one goal has no influence on the achievement of another.

Conflicting Goals

A goal relationship where achieving one goal impairs another, such as reducing sales costs while trying to increase sales volume.

Operationality of Marketing Goals

The specification of goals based on five dimensions: Goal Content, Goal Extent, Goal Period, Goal Segment, and Goal Area.

Marketing Strategy

Medium-to-long-term fundamental decisions regarding market choice and market cultivation that define the strategic direction to achieve marketing goals.

Marketing Mix (4Ps)

The combination of the four main marketing instruments: Product, Price, Promotion, and Place.

Product Policy (Produktpolitik)

All decisions regarding the design of the service program, including innovation, variation, differentiation, and elimination.

Price Policy (Kontrahierungspolitik)

The determination of conditions under which products are offered, including prices, discounts, bonuses, and terms of delivery and payment.

Communication Policy (Kommunikationspolitik)

All measures intended to facilitate communication between a company and its customers, employees, and reference groups.

Distribution Policy (Vertriebspolitik)

Measures required for the customer to obtain services, bridging the spatial and temporal distance between manufacture and purchase.

Objective-Task Budgeting Method

A calculation method where the marketing budget is the sum of costs for all measures necessary to realize the marketing goals; considered the most sensible method.

Strategic Marketing Planning

Long-term marketing planning covering a timeframe of $2$ to $5$ years.

Operative Marketing Planning

Short-term planning involving annual, quarterly, or monthly plans, with the annual plan being central.

Top-down Planning

A hierarchical planning approach where the corporate plan determines the divisional plans.

Bottom-up Planning

A hierarchical planning approach where divisional plans are aggregated into the overall corporate plan.

Down-up Planning

A hierarchical approach where a corporate framework plan is set and then concretized at the divisional level.