Chapter-02, Marketing Strategy Planning
-
Upload
parinita-devadiga -
Category
Documents
-
view
225 -
download
0
Transcript of Chapter-02, Marketing Strategy Planning
-
8/6/2019 Chapter-02, Marketing Strategy Planning
1/27
Mastering MarketingMastering Marketing
CHAPTER TWOCHAPTER TWO
Marketing StrategyPlanning
CHAPTER TWOCHAPTER TWO
Marketing StrategyPlanning
-
8/6/2019 Chapter-02, Marketing Strategy Planning
2/27
Mastering MarketingMastering Marketing
1. Understand what a marketing managerdoes.
2. Know what marketing strategy planningis--and why it will be the focus of the
book.3. Understand target marketing.
4. Be familiar with the four Ps in amarketing mix.
5. Know the difference between a marketingstrategy, a marketing plan, and amarketing program.
When we finish this lecture you should
-
8/6/2019 Chapter-02, Marketing Strategy Planning
3/27
Mastering MarketingMastering Marketing
6. Be familiar with the texts framework formarketing strategy planningand why itinvolves a process of narrowing downfrom broad opportunities to the most
attractive marketing strategy.7. Know four broad types of marketing
opportunities that help in identifying newstrategies.
8. Understand why strategies foropportunities in international marketsshould be considered.
When we finish this lecture you should
-
8/6/2019 Chapter-02, Marketing Strategy Planning
4/27
Mastering MarketingMastering Marketing
The Management Job in Marketing
Implement Marketing
Plan(s) and Program
Control Marketing Plan(s)
and Program
Implement Marketing
Plan(s) and Program
Whole-Company
Strategic
Management
Planning
Marketing
Planning
-
8/6/2019 Chapter-02, Marketing Strategy Planning
5/27
Mastering MarketingMastering Marketing
What is Marketing Strategy Planning?Exhibit 2-2
Themarketing mix
C
-
8/6/2019 Chapter-02, Marketing Strategy Planning
6/27
Mastering MarketingMastering Marketing
Selecting a Market-Oriented Strategy Is Target MarketingExhibit 2-3
Production-oriented manager sees
everyone as basically similar and
practices mass marketing
Marketing-oriented manager sees
everyone as different and
practices target marketing
-
8/6/2019 Chapter-02, Marketing Strategy Planning
7/27
Mastering MarketingMastering Marketing
An Application of Target Marketing
-
8/6/2019 Chapter-02, Marketing Strategy Planning
8/27
Mastering MarketingMastering Marketing
Developing Marketing Mixes forTarget MarketsExhibit 2-4
Place
PromotionPrice
Product
C
-
8/6/2019 Chapter-02, Marketing Strategy Planning
9/27
Mastering MarketingMastering Marketing
The Product Element of the Marketing Mix
-
8/6/2019 Chapter-02, Marketing Strategy Planning
10/27
Mastering MarketingMastering Marketing
The Place Element of the Marketing MixExhibit 2-6
Examples of Channels of Distribution
AOL NissanDel
MonteProcter &Gamble
Wholesaler
Wholesaler
Retailer
Consumer
Wholesaler
RetailerRetailer
-
8/6/2019 Chapter-02, Marketing Strategy Planning
11/27
Mastering MarketingMastering Marketing
Advertising
Publicity
Personal
Selling
Telling and
Selling
the Customer
Personal
SellingAdvertising
Publicity
The Promotion Element of the Marketing Mix
Sales
Promotion
-
8/6/2019 Chapter-02, Marketing Strategy Planning
12/27
Mastering MarketingMastering Marketing
Price
Flexibility
Price Changes
Over the Life
Cycle
Price
Flexibility
Price Changes
Over the Life
Cycle
PricingObjectives
Price
Setting Discountsand
Allowances
Geographic
Pricing TermsLegal
Environment
Cost and
Demand
Competition
and
Substitutes
Price
Sensitivity
Price of Other
Products In
the Line
PricingObjectives
Discounts
and
Allowances
Geographic
Pricing TermsLegal
Environment
Cost and
Demand
Competition
and
Substitutes
Price
Sensitivity
The Price Element of the Marketing Mix
-
8/6/2019 Chapter-02, Marketing Strategy Planning
13/27
Mastering MarketingMastering Marketing
Interactive Exercise: Marketing Mix
Product Place
PromotionPrice
C
-
8/6/2019 Chapter-02, Marketing Strategy Planning
14/27
Mastering MarketingMastering Marketing
Selectionof Target
Market
All Four Ps Contribute to the Whole
Product
Place
Promotion
Price
Understanding the Target Market Leads to Good Strategies!Understanding the Target Market Leads to Good Strategies!
-
8/6/2019 Chapter-02, Marketing Strategy Planning
15/27
Mastering MarketingMastering Marketing
Target
Market
+
Marketing
Mix
= MarketingStrategy
+Other
Marketing
Plans
+
Time-
RelatedDetails
Marketing
Plan=
Other
Marketing
Plans
Time-
RelatedDetails
Marketing
Plan
Target
Market
Marketing
Mix
MarketingStrategy
The Marketing Plan Guides
Implementation and Control
A Firms
MarketingProgram
=
-
8/6/2019 Chapter-02, Marketing Strategy Planning
16/27
Mastering MarketingMastering Marketing
The Importance of Marketing Strategy Planning
Strategy Decisions Usually Determine
Success and Failure
Timex had captured a largemarket share
Low price, dependability, good
ads, unconventional channels
Stiff competition arose
New product refinements
-
8/6/2019 Chapter-02, Marketing Strategy Planning
17/27
Mastering MarketingMastering Marketing
Creative Strategy Planning Needed for Survival
2% 14% 14% 2%
(Well below
average)
Poor Fair Good Exceptional
(Belowaverage)
(Aboveaverage)
(Well above
average)
Death-wish
marketing
Best-practices
marketing
68%
(Average
Marketing
Program)
Failure
-
8/6/2019 Chapter-02, Marketing Strategy Planning
18/27
Mastering MarketingMastering Marketing
Breakthrough
Opportunities
Breakthrough
Opportunities
Avoid Hit-or-Miss
Marketing
Competitive
Advantage
Competitive
Advantage
What Are Attractive Opportunities?
-
8/6/2019 Chapter-02, Marketing Strategy Planning
19/27
Mastering MarketingMastering Marketing
Marketing Strategy Planning Process Highlights OpportunitiesExhibit 2-10
External Market Environment
-
8/6/2019 Chapter-02, Marketing Strategy Planning
20/27
Mastering MarketingMastering Marketing
Diversification
Market
development
Productdevelopment
Marketpenetration
Types of Opportunities to PursueExhibit 2-11
Present products New products
Presentmarkets
New
markets
-
8/6/2019 Chapter-02, Marketing Strategy Planning
21/27
Mastering MarketingMastering Marketing
Market Penetration
-
8/6/2019 Chapter-02, Marketing Strategy Planning
22/27
Mastering MarketingMastering Marketing
Product Development
-
8/6/2019 Chapter-02, Marketing Strategy Planning
23/27
Mastering MarketingMastering Marketing
Interactive Exercise: Marketing Strategy
DiversificationMarketdevelopment
Productdevelopment
Marketpenetration
Present products New products
Presentmarkets
Newmarkets
-
8/6/2019 Chapter-02, Marketing Strategy Planning
24/27
Mastering MarketingMastering Marketing
Early StartCompetitive
Advantage
Better
Trends?
SmallerWorld
SmallerWorld
Competitive
Advantage
Better
Trends?
International Opportunities Should Be Considered
-
8/6/2019 Chapter-02, Marketing Strategy Planning
25/27
Mastering MarketingMastering Marketing
Global Competitive Advantage
-
8/6/2019 Chapter-02, Marketing Strategy Planning
26/27
Mastering MarketingMastering Marketing
Marketingmanagement process
Strategic
(management)
planning
Marketing strategy
Target market
Marketing mix
Target marketing
Mass marketing
Channel of
distribution
Personal selling
Mass selling
Advertising
Publicity
Sales promotion
Marketing plan
Implementation
Operational decisions
Marketing program
Breakthrough opportunities
Competitive advantage
Key Terms
-
8/6/2019 Chapter-02, Marketing Strategy Planning
27/27
Mastering MarketingMastering Marketing
Differentiation
S.W.O.T. analysis
Market penetration
Market development
Product development
Diversification
Key Terms