Principles of Marketing - MGT301 Power Point Slides Lecture 7
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Transcript of Principles of Marketing - MGT301 Power Point Slides Lecture 7
Lecture-7Lecture-7
MGT301MGT301Principles of MarketingPrinciples of Marketing
SummarySummaryof of
Lecture-6Lecture-6
Strategic Planning and Marketing Strategic Planning and Marketing ProcessProcess
Defining the
CompanyMission
Setting CompanyObjectivesand Goals
Designingthe Business
Portfolio
Planning, marketing,and other functionalStrategies
Corporate Corporate LevelLevel
Business unit, product,
and marketlevel
Corporate
Marketing
Plan
Strategy FormulationStrategy Formulation
MissionMission GoalsGoals External analysisExternal analysis Internal analysisInternal analysis Strategic choiceStrategic choice
Today’s TopicsToday’s Topics
Portfolio AnalysisPortfolio Analysis Marketing ProcessMarketing Process
Portfolio Analysis:Portfolio Analysis: A tool by which A tool by which management evaluates the various business making management evaluates the various business making up the companyup the company
The Boston Consulting Group’s The Boston Consulting Group’s Growth-Share MatrixGrowth-Share Matrix
3 ?
10x 4x 2x 1.5x 1x 10x 4x 2x 1.5x 1x
20%-20%-18%-18%-16%-16%-14%-14%-12%-12%-10%-10%- 8%-8%- 6%-6%- 4%-4%- 2%-2%- 00
Mar
ket
gro
wth
rat
e
Relative market share
Stars
Cash cow
Question marks
Dogs
? ??5
4
2
1
68
7.5x .4x .3x .2x .1x .5x .4x .3x .2x .1x
Product/Market Expansion GridProduct/Market Expansion Grid
Market-penetrationstrategy
(Diversificationstrategy)
Product-developmentstrategy
Market-developmentstrategy
CurrentCurrentmarketsmarkets
NewNewmarketsmarkets
CurrentCurrentproductsproducts
NewNewproductsproducts
Product/ Market Expansion GridProduct/ Market Expansion Grid
Market Penetration: Market Penetration: Making more sales to current customers without Making more sales to current customers without
changing its products. changing its products. How? Add new stores in current market areas, How? Add new stores in current market areas,
improve advertising, adjust prices, service or store improve advertising, adjust prices, service or store design.design.
Market Development:Market Development:
develop new markets for its current products. develop new markets for its current products.
– How? Identify new demographic or geographic How? Identify new demographic or geographic markets.markets.
Product Development:Product Development: Offering modified or new products to current Offering modified or new products to current
markets. markets. How? New styles, flavors, colors, or modified How? New styles, flavors, colors, or modified
products.products.
Diversification:Diversification: New products for new markets. New products for new markets.
How? Start up or buy new businesses. How? Start up or buy new businesses.
Strategic Planning, Strategic Planning, Implementation, and Control Implementation, and Control
ProcessProcess
Corporateplanning
Divisionplanning
Businessplanning
Productplanning
Organizing
Implementing
Measuringresults
Diagnosingresults
Takingcorrective
action
PlanningPlanning ImplementationImplementation ControlControl
Marketing Strategy Planning Marketing Strategy Planning ProcessProcess
CustomersCustomersNeeds and otherNeeds and other
SegmentingSegmentingDimensionsDimensions
CompanyMission, Objectives,
& Resources
CompetitorsCurrent &
Prospective
CustomersCustomersNeeds and otherNeeds and other
SegmentingSegmentingDimensionsDimensions
CompanyMission, Objectives,
& Resources
CompetitorsCurrent &
Prospective
S.W.
O.T.
External Market EnvironmentExternal Market Environment
CustomersCustomersNeeds and otherNeeds and other
SegmentingSegmentingDimensionsDimensions
CompanyMission, Objectives,
& Resources
CompetitorsCurrent &
Prospective
S.W.O.T.
External Market EnvironmentExternal Market Environment
Targeting &Segmentation
Positioning &DifferentiationPositioning &Differentiation
CustomersCustomersNeeds and otherNeeds and other
SegmentingSegmentingDimensionsDimensions
CompetitorsCurrent &
Prospective
S.W.O.T.
External Market EnvironmentExternal Market Environment
Targeting &Segmentation
Positioning &DifferentiationPositioning &Differentiation
Narrowing down to focused strategy with quantitative and qualitative screening criteria
CompanyMission, Objectives,
& Resources
Marketing ProcessMarketing Process
Analyzing marketing opportunitiesAnalyzing marketing opportunities Selecting target marketsSelecting target markets Developing the marketing MixDeveloping the marketing Mix Managing the marketing effortManaging the marketing effort
Enough for today. . Enough for today. . ..
SummarySummary
3 ?
10x 4x 2x 1.5x 1x 10x 4x 2x 1.5x 1x
20%-20%-18%-18%-16%-16%-14%-14%-12%-12%-10%-10%- 8%-8%- 6%-6%- 4%-4%- 2%-2%- 00
Mar
ket
gro
wth
rat
e
Relative market share
Stars
Cash cow
Question marks
Dogs
? ??5
4
2
1
68
7.5x .4x .3x .2x .1x .5x .4x .3x .2x .1x
Product/Market Expansion GridProduct/Market Expansion Grid
Market-penetrationstrategy
(Diversificationstrategy)
Product-developmentstrategy
Market-developmentstrategy
CurrentCurrentmarketsmarkets
NewNewmarketsmarkets
CurrentCurrentproductsproducts
NewNewproductsproducts
Marketing ProcessMarketing Process
Next….Next….
Analyzing marketing opportunitiesAnalyzing marketing opportunities Selecting target marketsSelecting target markets Developing the marketing MixDeveloping the marketing Mix Managing the marketing effortManaging the marketing effort
Lecture-7Lecture-7
MGT301MGT301Principles of MarketingPrinciples of Marketing