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SMPS – CPSM Exam – Industrial Marketing Planning

Industrial Marketing Planning is Based on Research.

What markets are growing, what markets are shrinking? What people skills to you have to move into different markets. But that’s the research part of the problem. Once you have the research, you need to go after the market.

Marketing planning will match your employee’s talents to the emerging markets you have identified. Client and business development will manage the budding client relationships. Proposals will get you the work. Promotional activity will help your first successful project in the new industry be known. Professional management will put into place the tools needed to rinse and repeat.

Case Study Activity

This Case Study Activity allows you to reflect on and apply the key concepts that you learned in this Domain to a real-world scenario. Each Domain includes a scenario about the same organization, Gilmore & Associates. The scenario is presented to you, followed by several questions. You can also elect to view the recommended solutions/ responses for each question posed, which are located on the next page. This case study can be studied in many ways:

• You can individually reflect on the questions after reading the scenario, and write your own notes/responses to each question. You can then check your ability to apply the key concepts against the recommended solutions/responses.

• You can pull together a small group and use this scenario to drive a discussion around the challenge and to discuss solutions as a group.

• You can combine a selection of the case study activities (across the Domains) into a larger scenario-based activity as a part of a professional development event.

Your mid-sized engineering firm, Gilmore & Associates, has long been a leader in the construction of K-12 school facilities. Recent changes, driven by aging Baby Boomers and an influx of retirees, have caused this market to decline, and your CEO is looking to expand into the healthcare industry. As the marketing coordinator, you’ve made an assessment of you firm’s current situation and it’s clear that things need to change, as well over half of your current revenue is coming from school construction.

However, your preliminary research has identified several exciting new possibilities, including the need for upscale retirement homes and hospice facilities. Your CEO has tasked your group to come up with a marketing plan that will set the firm up to succeed in this new environment.

1. Based on the demographic data, you’ve established that there’s a growing need for healthcare facilities in your area. You’re also clear that the strengths of your firm align better with building retirement homes rather than hospitals or clinics. What type of research would best help you in creating a plan that will turn these insights into a workable marketing plan?

2. Besides conducting research, what are some of the key steps that you will take to develop your marketing plan?

3. What things will you need to keep in mind when developing your marketing budget?

4. What are some of the strategies that you will put into place to reach your marketing goals, as set forth in the plan?

5. What measures will you put into place to assess how well your plan is performing?

Answer Key

1. Based on the demographic data, you’ve established that there’s a growing need for healthcare facilities in your area. You’re also clear that the strengths of your firm align better with building retirement homes rather than hospitals or clinics. What type of research would best help you in creating a plan that will turn these insights into a workable marketing plan?

Since you’re already clear on the demographic trends in your area, research how large the retirement home market will be for your area over the next five years (for example).

You will need to decide whether to do your own research, perhaps by conducting surveys in carefully selected communities, or rely on secondary research by looking at existing industry data and local government research. The decision will come down to a question of cost and how much good data already exists. You will probably need to gather both qualitative and quantitative data-qualitative, in the sense that good retirement home design is something of an art; and quantitative, in that you will need to have hard numbers to back up any projections that you make about the number of facilities that will be needed.

2. Besides conducting research, what are some of the key steps that you will take to develop your marketing plan?

Identify the marketing forces that affect your business. For example, you can use Porter’s Five Forces model to assess your relative bargaining strength with potential clients, your relationship with suppliers, and how you measure up to the competition.

Participate in strategic planning with senior staff to clarify the overall goals and objectives of the organization, to provide a context for the marketing plan that you are developing.

Develop a vision statement that encapsulates the firm’s strategic objectives, and reflects how you want the company to be perceived in the marketplace. Just as you have been seen as the premier provider of school facilities in the region, your new goal is to become known as the Cadillac of the retirement home industry.

Develop clear and quantifiable goals; for example, you could decide that your goal is to partner with a healthcare provider to build two profitable retirement facilities over the next two years.

Identify specific target markets. Where are you going to locate your retirement facilities? You may want them close to an existing hospital, for example, and within an easy bus ride to a cultural center.

3. What things will you need to keep in mind when developing your marketing budget?
You’ll need to decide on a budgeting methodology. Will you use the Projection Method, which looks at prior year costs to develop the upcoming year’s budget? Or the Percentage Method, which allocates a set percentage of the firm’s total operation revenues to marketing? Or will you go with Goal­Based Budgeting, which assigns costs to each item in your marketing plan?

You’ll have to budget for labor costs, by estimating the time that everyone in the firm will devote to marketing. This includes not only marketing staff, but the time spent by principals in marketing and selling.

You’ll need to decide how to track expenses related to marketing, such as travel and entertainment, photography, printing costs, organization dues, office supplies, and the like.

4. What are some of the strategies that you will put into place to reach your marketing goals, as set forth in the plan?

Networking. You may find that firms that you .have partnered with in the past are also looking to get into a new line of business

Contacting professional organizations in the healthcare industry, to better understand the specific issues surrounding elder-care facilities and to get to know key players in the healthcare community

Developing a public relations campaign to get the message out that you are becoming a player in the healthcare industry

Building a presence on social media, both to advertise the new face of your company and to target prospective clients

5. What measures will you put into place to assess how well your plan is performing?
You may want to use a CRM system to track leads, proposals, and the activities that drive costs and revenues, even if you track actual expenses in an accounting system.

Lead reports, hit rate reports, and sales reports all provide quantifiable data on how well the company is doing month to month, and will provide an early warning if the plan is going off track.

Benchmarking allows you to keep tabs on internal progress; by evaluating progress against an internal goal of generating X number of proposals in an quarter, for example, the marketing team can judge whether it is on.track to fulfilling its overall goal of hitting its revenue goals.

A cost/benefit analysis of your marketing effort will let you know the value that you are getting for the money and time expended. The key is to understand the total costs in time and money, and to fully appreciate the value realized.
Domain 2: Marketing Planning

Analyze Data of Relevant Industries and Competitors

1.1 Understand Methods and Models of Research

1.1.1 Action-Driving vs Action-Confirming Research

1.1.2 Primary vs Secondary Research

1.1.3 Qualitative vs Quantitative Research

1.2 Identify Sources of Relevant Data

1.3 Prioritize Data for Relevance to Firm’s Strategic, Marketing, and Business Development (BD) Plans

1.4 Reporting and Tracking of Data

1.5 Key Terms

2. Analyze Relevant Historical and Contemporary Data

2.1 Identify Sources of Relevant Data, Company’s Historic Data (Internal and External)

2.2 Models for Identifying Market Forces

2.2.1 Porter’s Five Forces

This really focuses on the power of the people that control the industry. They will not want you to take their cheese. Buyers will do what they have always done and may want a bribe. Suppliers won’t help you learn their other customers. In common technologies, competitors are everywhere. I’m not quite sure what, “The best market is the one that is difficult to enter, yet easy to exit.” If that was the case, I should leverage my Frank Lloyd Wright House.  It is what has gotten me into researching the architectural, engineering and construction markets but they have not been easy to enter. But learning this SMPS mythology will help me enter the market. TO wrap up Porter’s Five Forces substitute products can’t be invented that fast in marketing as long as you keep up with the internet. The final one is rivalry. There’s a lot of that.



All of these things can prevent your success. They are why it is so frustrating to enter a new market or invent one.

2.3 Key Terms

3. Analyze Focused Market-Specific Data

3.1 Describe and Analyze Data

3.2 Forecast Based on Collected Information

3.3 Key Terms

4. Interpret Market Research Results

You always have to reconfirm your research.

4.1 Analysis vs Interpretation of Data

4.2 Forecast Based on Collected Information

4.3 Key Terms

5. Conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis

5.1 Understand How to Construct a SWOT Matrix

5.2 Tactics for Identifying Strengths, Weaknesses, Opportunities, and Threats

5.3 Setting Priorities for a SWOT Analysis

Every marketing activity needs to start with thinking about your Strength and Weaknesses and your outside Opportunities and Threats.

5.4 Alternative Models

5.5 Key Terms

6. Collect Industry Marketing Cost Data

6.1 Identify Sources of Relevant Data

6.2 Analyze and Apply Data

6.3 Key Terms

7. Participate in Strategic Planning

This is always the easiest thing to say you are going to do but almost impossible to execute. With the help of this marketing methodology will help you succeed. I used to think they were a meaningless example of corporate bullshit. But when properly used a strategic plan really is a survival plan. You need to be a driven company whose goal is to enter new markets. Most strategic plans are just marketing mush, a real plan is a real need.


7.1 Understanding the Strategic Planning Process/Models

It’s all hidden in the illustration. The target, the reason, the willpower, the weapons and the victims, “(you) will be the first to find, and profitably capitalize on, emerging opportunities before the competition can.”

7.2 Understanding the Firm’s Big Picture Operations and Finance

7.3 Bringing Relevant Data to the Table

7.4 Key Terms

8. Develop a Vision Statement – What you aspire to be?

Here’s another one I just don’t get. No words on a piece of paper can change the future. It comes down to caring. What do you care about? That is the only reason things change. Making a statement about yourself doesn’t convince clients to work with you. Or your employees.

8.1 Understand Your Firm’s Brand Promise and Core Values

8.1.1 What’s Our Vision for the Firm?

8.1.2 What’s Our Mission? Where do you want to go?

8.1.3 What Do We Want to be Known For?

8.1.4 What Do We Like to Do Most?

8.1.5 Who Are We Competing Against, and What Makes Us Different?

8.2 Analyze Your Firm’s Current Position in the Marketplace

8.3 Facilitate Discussion with Senior Leadership

8.4 Be Effective as Part of the Team (Team Dynamics, Collaboration)

8.5 Writing Skills

8.6 Key Terms

9. Develop Goals and Objectives

How are you going to get there?

9.1 Analyze Your Current Effort

9.2 Identify the Results (Sales, Positioning, etc.) You Want to Achieve, With a Time Frame for Achieving Them


9.3 Identify How Your Goals and Objectives Relate to Your Vision Statement, and Measurable Results for Goal Achievement

9.4 Internal Benchmarking, and Developing/Tracking Progressive Goals

9.5 Establish Performance Metrics

9.6 Key Terms

10. Facilitate the Planning Process

10.1 The Basics of Facilitation

10.1.1 Wearing Different Hats

10.2 Understand the Firm’s Goals

10.3 Keep Group on Agenda and Moving Forward 10.3.1 Managing Conflict

10.4 Involve Everyone, Making Sure Contributions are Considered and Included

10.5 Make Sure That Participants Achieve a Mutual Understanding

10.6 Record and Identify Related Action Items

10.7 Understand Different Motivations and Personality Types

Myers-Brigg Type Indicator

10.8.Key Terms

11. Select Target Markets

11.1 Examine Current Markets and Financial Performance for Each Market (Internal)

11.2 Review Market Research (Trends, Cultural, etc.)

11.3 Prioritize Opportunities that Maximize Your Firm’s Unique Value Proposition·

11.4 Key Terms

12 Create a Marketing Plan

One year part of a 3-5 year strategic plan with specific training to be done and battles to be won.

12.1 The Components of a Marketing Plan

12.2 Facilitate the Planning Process to Support and Integrate with the Strategic, BD, and Action Plans

12.3 Key Terms

13 Create a Marketing Budget

13.1 Budgets Support Your Marketing Plan

13.2 Budgets Should Have a Structure that Relates to Your Firm Structure

13.3 Choosing an Appropriate Methodology for Budgeting

13.3.1 The Projection Method  or Comparison  – uses past expense to predict future costs

13.3.2 The Percentage Method – 3 to 18 %

13.3.3 The Goal-Based Budgeting Method or Bottom-Up Method – assigns a cost to each marketing activity

13.4 How to Budget for Labor Costs

13.4.1 Calculating Available Time

13.4.2 Budgeting for the Principals

13.5 How to Budget for Expenses

13.6 Key Terms

14 Set Marketing Goals

14.1 Strategies for Achieving Your Goals

14.1.1 Past and Current Clients

14.1.2 Cold Calling

14.1.3 Networking

14.1.4 Professional Organizations

14.1.5 Community Activities

14.2 Communications Activities

14.2.1 Branding

14.2.2 Public Relations

14.2.3 Social Media

14.2.4 Speaking and Writing

14.3 Key Terms

15. Manage lmplement􀀂ion of a Marketing Plan

15.1 Systems for Tracking Leads

15.1.1 Customer Relationship Management (CRM) Systems

15.1.2 Going the Extra Mile

15.2 Manage People Effectively/Understand Different Individual Motivations·

15.3 Key Terms

16. Manage the Marketing Budget

16.1 Systems Tools for Tracking

16.2 How to Manage Vendors/Consultants

16.3 Key Terms

17 Estimate the Impact of Marketing on the Bottom Line

17.1 Measuring Performance

17.2 Key Terms

18 Estimate Return on Investment of the Marketing Plan

18.1 Benchmark and Measure

18.1.1 Drivers vs Indicators

18.1.2 Understand How Your Firm Defines Success

18.2 Financial Basics

18.3 Systems for Tracking

18.3.1 The Marketing Budget and ROI

18.3.2 Tracking Your Overall Marketing Effort by Tactic

18.4 Key Terms

19. Conduct a Cost/Benefit Analysis of Marketing Efforts

19.1 Understand the Total Costs (Time and Money)

19.2 Value-Based Decision Making

19.2.1 Quantitative Value

19.2.2 Qualitative Value

19.3 Basic Accounting Principles

19.4 Key Terms

20 Provide a Progress Report on the Marketing Plan

20.1 Regularly Review Performance Metrics Related to Goals

20.2 Intervals

20.3 Presentation Techniques (Also Applies to Reporting Techniques)

20.4 Key Terms

21 Revise the Marketing Plan

21.1 Update and Review Market Research for Changes in Market Situation

21.2 Adjust Marketing Plan to Reflect New Information

21.3 The 12-Month Rolling Budget

21.4 Key Terms

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