DOI: 10.12957/demetra.2018.33244 Construcción del modelo ...
Demetra Andrews Presentation, Fall 2005
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Transcript of Demetra Andrews Presentation, Fall 2005
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Stick a fork in it, it’s done!Marketing Strategy Shelf Life
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Congratulations, you have a strategy!•You’ve churned through the marketing planning process and now you have a newly-minted strategy to show for your efforts•So what do you do now?
•You marshal all of your forces
•Get your ducks in a row
•You IMPLEMENT! •And everything goes well from here on out, everybody gets rich and you’re the company hero!
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Change is Constant• Maybe for a while… but things tend to change that impact the
effectiveness of your strategy– Changing market trends– Changes in consumer / customer preferences or needs– Changing technology– Changes in management or management emphasis– Changes in resource availability– Changes in supplier offerings– Changes in competitors– Changes in legislation– Changes in economic trends
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Change is Constant• Marketplace change might even render your strategy
inappropriate
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In other words…
Strategies often have a limited “shelf life”
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Whew! What’s that smell?• It’s imperative to any marketer to be able to identify when a
good strategy is going bad
• While IMPLEMENTATION is the sexier of the marketing strategy steps, three additional steps are also critical to your company’s success as well as your own
• Implement Monitor Evaluate Update / Terminate
• These steps will keep you objective, honest and out of trouble
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Today’s Topics
Recognizing an “expired” strategy
What to do about it
CASE: American Airlines Travel Academy
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Travel School Overview• Established in 1987 in response to the growing need for highly
trained travel industry professionals. • The travel school offers a comprehensive Travel & Tourism
curriculum that provides students the skills needed to succeed in a unique and vibrant industry.
• Originally consisted of 1 school in Dallas – Fort Worth (DFW)• Grew to also include a school in Chicago and a curriculum
licensing business serving vocational schools
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Travel School: The Problem• 1998: Appointed Director of travel school; Group had lost
money for more than 18 months• Task: Figure out what was wrong and fix the problem • In essence
– A strategy had been implemented in 1987: Start a school– It had been augmented: Open another campus, offer licenses– The strategy wasn’t working: Travel School had sustained
losses– No one was sure what to do
• Strategy problem?• Market problem• Implementation problem?
• Let’s walk through how this problem was deconstructed
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Step 1: Monitor• Get your hands on the right data
– Know what’s available– Know what the objectives are– Aggregate or disaggregate at the appropriate level– Collect both quantitative and qualitative data
• Travel School– 10 years of data– Profitability is objective– Disaggregation– Qualitative data
• Individual and group meetings
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Step 2: Evaluate the Data• Figure out what the data is saying (the hard part)
– Be objective– Evaluate results based on your objectives– Evaluate from the perspective of stakeholders – Look for trends (1blip, 2 blips, 3 blips)
• Is there a downward / upward trend?• Are the thresholds being met?
– Seek explanations for both good and bad results• Can the causes be isolated and identified?
• Travel School– Demand cycles, high school costs, credit issues– Isolation of problem: stagnant school sales– Unsuccessful effort to revitalize school sales– “Expired” school strategy
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Step 3: Update / Terminate• Act on your new knowledge
– Augment or adapt an existing strategy– Implement an additional strategy– Pull the plug on an expired strategy
• Travel School– Closed schools
Relocation for Chicago school needed Reinstatement of school loan program required Restructuring of cost structure necessary
– Identified new market for curriculum licensing (community colleges)
– Increased support for curriculum licensing
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Bottomline Take-aways• Implementation is an intermediate step, the follow-ups will
enable you to adapt or terminate an expired strategy• Monitor• Evaluate• Update / Terminate
• Expired strategies can create quite a stink!