With which brand, which product, in which market, and when: The backbone of the marketing plan
The top layer of marketing planning is the product and brand plan. Campaigns, channels, and budgets are derivatives of this plan; but first it must be determined which position each brand is targeting, which product groups will be grown,
which will be maintained or removed from the portfolio, which launch will be made in which period and in which market, and what the turnover, share, and profitability targets are for each brand and product group.
Product and brand planning brings together brand architecture, the product life cycle, the collection and season calendar, price positioning, and market priorities in a single plan, and gives the rest of marketing
the answer to “what, why, and when.”
Without a product and brand plan, marketing operates independently of product development and sales. The sales team leans on the product that is easiest to sell, marketing allocates budget to the most visible brand, and production plans according to last year’s mix;
each of the three functions runs toward targets that are internally consistent but contradict one another. The launch calendar and the campaign calendar do not coincide; when the new product reaches the market the communication is not ready, or when the communication starts
the product is not yet in stock. Because profitability by brand is not visible, product groups that bring turnover but not profit continue to be grown for years, and the portfolio turns into a structure nobody consciously chose.
In Minerva, product and brand planning is a structure in which the product management, marketing, and budget modules work together on the same product master data. Brands, product groups, and products are defined hierarchically;
for each level, turnover, volume, market share, and profitability targets by period, price positioning, target segment, and priority markets and channels are planned. The launch, collection, and season calendar is tied to product life cycle stages;
campaign, budget, and sales targets are linked to this plan so that marketing, sales, and production see the same product and brand targets. Because actual sales, costs, and campaign results are reported against the plan in the same hierarchy,
which brand and product group reached its target, which one is consuming resources, and where the portfolio needs to be simplified are seen from data; the next period’s plan is built on the product and brand performance of the previous period.
Start your marketing plan not from campaigns, but from the conscious decisions you make for your brands and products; everything else is the execution of those decisions.