document02
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Developing Marketing Strategies and PlansTRANSCRIPT
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3
Developing Marketing
Strategies and Plans
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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?
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Improving Value Delivery the Japanese Way
Zero customer feedback time Zero product improvement time Zero purchasing time Zero setup time Zero defects
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3 V’s Approach to Marketing
Define the value segment Define the value proposition Define the value network
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Benchmarks
Organizational costs and
performance measures
Competitorcosts and
performance measures
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Core Business Processes
Market sensing
Fulfillmentmanagement
Customer acquisition
New offering realization
Customer relationship management
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Characteristics of Core Competencies
A source of competitive advantage Applications in a wide variety of markets Difficult to imitate
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2-8
Challenges Facing CMO’s
Doing more with less Driving new business development Becoming a full business partner
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Levels of a Marketing Plan
Strategic Target marketing
decisions Value proposition Analysis of marketing
opportunities
Tactical Product features Promotion Merchandising Pricing Sales channels Service
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Corporate Headquarters’ Planning Activities
Define the corporate missionEstablish SBUsAssign resources to each SBUAssess growth opportunities
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Good Mission Statements
Focus on limited number of goals Stress major policies and values Define major competitive spheres
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Major Competitive Spheres
Industry Products Competence
Market segment Vertical channels Geographical
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Rubbermaid Commercial Products, Inc.
“Our vision is to be the Global Market ShareLeader in each of the markets we serve. We will earn this leadership position by providing to our distributor and end-user customers innovative, high-quality, cost-effective and environmentally responsible products. We will add value to these products by providing legendary customer service through our uncompromising Commitment to Customer Satisfaction.”
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Motorola
“The purpose of Motorola is to honorablyserve the needs of the community by providingproducts and services of superior quality at a fair price to our customers; to do this so as toearn an adequate profit which is required forthe total enterprise to grow; and by doing so, provide the opportunity for our employees andshareholders to achieve their personal objectives.”
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Infosys Technologies Ltd.
“To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, vendors and society at large.”
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eBay
“We help people trade anything on earth.We will continue to enhance the onlinetrading experiences of all – collectors, dealers, small businesses, unique itemseekers, bargain hunters, opportunitysellers, and browsers.”
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Dimensions That Define A Business
Customer groups
TechnologyCustomer
needs
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Characteristics of SBUs
It is a single business or collection of related businesses
It has its own set of competitors It has a leader responsible for:
Strategic planningProfitabilityEfficiency
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Organizations
Culture Policies Structure
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Market Opportunity Analysis (MOA) Can the benefits involved in the opportunity be
articulated convincingly to a defined target market?
Can the target market be located and reached with cost-effective media and trade channels?
Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits?
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Market Opportunity Analysis (MOA)_2 Can the company deliver the benefits
better than any actual or potential competitors?
Will the financial rate of return meet or exceed the company’s required threshold for investment?
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Goal Formulation and MBO
Requirements for using MBOUnit’s objectives must be hierarchicalObjectives should be quantitativeGoals should be realisticObjectives must be consistent
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Porter’s Generic Strategies
Overall cost leadership Differentiation Focus
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Categories of Marketing Alliances
Product or Service Alliances Promotional Alliances Logistics Alliances Pricing collaborations
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Marketing Plan Contents
Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
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Evaluating a Marketing Plan
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?