marketing strategy. strategic planning the process of developing and maintaining a strategic fit...

Marketing Strategy

Strategic Planning

The process of developing The process of developing and maintaining a strategic and maintaining a strategic

fit between the organization’s fit between the organization’s goals and capabilities and goals and capabilities and

its changing marketing its changing marketing opportunities.opportunities.

The Mission Statement

A statement of the organization’s purpose or “raison d’etre”.

The Mission Statement

• Good mission statements…– clearly state one or two specific goals– Identify their target customer(s)– are market-oriented– promise to fulfill specific needs and wants– are simultaneously broad but specific– align with organizational core competencies– are realistic– are values-based– are memorable

Mission Statement ExamplesRubbermaid

“Our vision is to be the Global Market Share Leader 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.”

Mission Statement Examples

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 and

shareholders to achieve their personal objectives.”

Mission Statement Examples

Ebay

“We help people trade anything on earth.

We will continue to enhance the online

trading experiences of all – collectors,

dealers, small businesses, unique item

seekers, bargain hunters, opportunity

sellers, and browsers.”

Mission Statement Examples

Pepsi Bottling Group

“We bottle and distribute Pepsi products.”

Core Compentencies

• Sources of competitive advantage and sustainability

• Skills can be leveraged in a wide variety of markets

• Transcend mere product or service capabilities and target market limitations

• The “career-change” analogy

What are Netflix’s Core Competencies?

Core Competencies

• What would…– Google do if online search became obsolete?– McDonald’s do if people stopped eating fast food?– Ebay do if online auctions became illegal?– HP do if people no longer needed to print?– T-Mobile do if cell phones were banned?

Question du Jour

Should firms always stick to their core competencies?

Some Market Analysis & Strategy Tools

• BCG Growth-Share Matrix• Product/Market Expansion Grid• SWOT Analysis

The BCG Growth-Share Matrix

The Product/Market Expansion Grid

SWOT Analysis

In-class Activity

• Describe the core competencies of each of the following companies:

In-class Activity

• Choose one of the companies from the previous slide and perform a SWOT analysis.