developing marketing strategies and plans
TRANSCRIPT
DEVELOPING MARKETING STRATEGIES & PLANS
Company and Marketing Strategy: Partnering to Build Customer Relationships
Planning• The process of anticipating future events and
determining strategies to achieve organizational objectives in the future.
Strategic Planning• The process of developing and maintaining a
strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
The Nature of Strategic Planning
Strategic-Planning, Implementation, and Control Process
Measuringresults
Diagnosingresults
Takingcorrective
action
ImplementationImplementationPlanningPlanning
Corporateplanning
Divisionplanning
Businessplanning
Productplanning
Organizing
Implementing
ControlControl
Four Steps of Organizational Strategic Plan
1. Defining the company mission2. Setting company objectives and goals3. Designing the business portfolio and4. Planning the marketing and other functional activities.Strategic planning covers the entire activities of the organization,
including all of the strategic business units (SBUs) and each functional area.
Developing functional strategies and plans is the fourth step in the strategic planning process. One technique for identifying opportunities is to seek strategic windows.
A strategic window is the identification of an opportunity for a limited period in the future and managing the organization's resources so that there is a fit between the key market needs and the ability of the organization to meet those needs at an optimum level.
Strategic Business Units• (SBUs) Individual units
within the firm that operate likeseparate businesses, with eachhaving its own mission, businessobjectives, resources, managers,and competitors.
Three Levels of Planning• Tactical (Functional) Planning : A decision process that
concentrates on developing detailed plans for strategies and tactics for the short term that support an organization's long-term strategic plan. Accomplished by various functional areas of firm.
Typically includes a broad 5-year plan to support strategic plan and a detailed annual plan
Example: to gain 40% of a particular market with three new products during coming year
• Operational Planning: A decision process that focuses on developing detailed plans for day-to-day activities that carry out an organization's tactical plans. First-line managers focus on day-to-day execution of functional plans.
Such planning includes detailed annual, semiannual, or quarterly plansExample: units of a product a salesperson needs to sell per month
Three Levels of Planning
• Cross-Functional: An approach to tactical planning in which managers work together in developing tactical plans for each functional area in the firm so that each plan considers the objectives of the other areas.
Sell the product
The Value-Delivery Process
Make the productProcureDesign
product Make Price Sell Advertise/promote Distribute Service
Choose the Value Provide the Value
(a) Traditional physical process sequence
(b) Value creation & delivery sequence
Tactical marketingStrategic marketing
Communicate the Value
Market-Oriented Mission• A mission statement asks..
– What is our business?– Who is the customer?– What do consumers value?– What should our business be?
• A mission statement should be:– An “invisible hand” – Neither too narrow nor too broad– Fitting of market environment– Based on distinctive competencies– Motivating
MARKETING PLANNINGCompany and Marketing Strategy: Partnering to Build
Customer Relationships
SWOT Analysis• An analysis of an organization’s strengths (S) and weaknesses (W) and
the opportunities (O) and threats (T) in the external environment• All controllable elements inside a firm that influence how well the firm
operates– Strengths and weaknesses– Technologies, physical facilities, financial stability, corporate reputation,
quality products, strong brands, employees• Elements outside the firm that may affect it either positively or negatively
– Opportunities and threats– The economy, competition, technology, law, ethics, and sociocultural
trends– Firm cannot directly control external factors but can respond to them via
planning
