2 Developing Marketing Strategies and Plans · 3 Maximizing Core Competencies
12
29-Sep-14 1 2 Developing Marketing Strategies and Plans 1 Chapter Questions How does marketing affect customer value? How is strategic planning carried out at different levels of the organization? What does a marketing plan include? Copyright ｩ 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-2 Phases of Value Creation and Delivery Copyright ｩ 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-3 Choosing the value Providing the value Communicating the value
Transcript of 2 Developing Marketing Strategies and Plans · 3 Maximizing Core Competencies
29-Sep-14
1
2Developing MarketingStrategies and Plans
1
Chapter Questions
How does marketing affect customer value? How is strategic planning carried out at
different levels of the organization? What does a marketing plan include?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-2
Phases of Value Creation andDelivery
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-3
Choosing the value
Providing the value
Communicating the value
29-Sep-14
2
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-4
What is the Value Chain?
The value chain is a tool for identifying wasto create more customer value becauseevery firm is a synthesis of primary andsupport activities performed to design,
produce, market, deliver, and support itsproduct.
Core Business Processes
Market-sensing process New-offering realization process Customer acquisition process Customer relationship management process Fulfillment management process
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-5
Characteristics ofCore Competencies
A source of competitive advantage Applications in a wide variety of markets Difficult to imitate
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-6
29-Sep-14
3
Maximizing Core Competencies
(Re)define the business concept (Re)shaping the business scope (Re)positioning the company’s brand identity
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-7
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-8
What is Holistic Marketing?
Holistic marketing sees itself as integratingthe value exploration, value creation, and
value delivery activities with the purpose ofbuilding long-term, mutually satisfying
relationships and co-prosperity among keystakeholders.
Questions to Address inHolistic Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-9
What value opportunities are available?
How can we create new value offeringsefficiently?
How can we delivery the new offeringsefficiently?
29-Sep-14
4
Figure 2.1 The Strategic Planning,Implementation, andControl Processes
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-10
Table 2.1 Master Marketers
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-11
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-12
What is a Marketing Plan?
A marketing plan is thecentral instrument for
directing and coordinatingthe marketing effort.
It operates at a strategic and tactical level.
29-Sep-14
5
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-13
Levels of a Marketing Plan
Strategic Target marketing
decisions Value proposition Analysis of
marketingopportunities
Tactical Product features Promotion Merchandising Pricing Sales channels Service
Corporate Headquarters’Planning Activities
Define the corporate mission Establish strategic business units (SBUs) Assign resources to each SBU Assess growth opportunities
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-14
Good Mission Statements
Focus on a limited number of goals Stress major policies and values Define major competitive spheres Take a long-term view Short, memorable, meaningful
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-15
29-Sep-14
6
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-16
Table 2.2Major Competitive Spheres
Industry Products Competence Market segment Vertical channels Geographic
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-17
Product Orientation vs.Market Orientation
Company Product Market
Missouri-PacificRailroad
We run a railroad We are a people-and-goods mover
Xerox We make copyingequipment
We improve officeproductivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertainpeople
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-18
29-Sep-14
7
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-19
Dimensions Define a Business
Customer Groups
Customer Needs
Technology
Characteristics of SBUs
It is a single business or collection of relatedbusinesses
It has its own set of competitors It has a leader responsible for strategic
planning and profitability
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-20
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-21
29-Sep-14
8
Figure 2.2 The Strategic PlanningGap
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-22
What is Corporate Culture?
Corporate culture is theshared experiences, stories, beliefs,
and norms thatcharacterize an organization.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-23
Figure 2.3 The Business UnitStrategic Planning Process
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-24
29-Sep-14
9
SWOT Analysis
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-25
Strengths
Weaknesses
Opportunities
Threats
Market Opportunity Analysis(MOA)
Can the benefits involved in the opportunitybe articulated convincingly to a definedtarget market?
Can the target market be located andreached with cost-effective media and tradechannels?
Does the company possess or have accessto the critical capabilities and resourcesneeded to deliver the customer benefits?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-26
Market Opportunity Analysis(MOA)
Can the company deliver the benefits betterthan any actual or potential competitors?
Will the financial rate of return meet or exceedthe company’s required threshold forinvestment?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-27
29-Sep-14
10
Figure 2.4Opportunity and Threat Matrices
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-28
Goal Formulation and MBO
Unit’s objectives must be hierarchical Objectives should be quantitative Goals should be realistic Objectives must be consistent
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-29
Porter’s Generic Strategies
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-30
Overall cost leadership
Differentiation
Focus
29-Sep-14
11
Categories of Marketing Alliances
Product or service alliance Promotional alliance Logistics alliances Pricing collaborations
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-31
McKinsey’s Elements of Success
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-32
Strategy
Structure
SystemsStyle
Shared values
Staff
Skills
Marketing Plan Contents
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-33
Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
29-Sep-14
12
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-34
Evaluating a Marketing Plan
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?
For Review
How does marketing affect customer value? How is strategic planning carried out at
different levels of the organization? What does a marketing plan include?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-35
