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Marketing 3331

Developing Successful Organizational and Marketing Strategies


IN MARKETING NEWS TODAY

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Google and Facebook face fines in Germany. Even though Google and Facebook do not condone hate speech, they provided a platform for it. Should they be responsible? Source: https:/ / www.marketingweek.com/ 2018/ 01/ 04/ google-airbnb-international-roundup/

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Diet Coke Launches Full Brand Restage. An updated look, new packaging, the debut of four new flavors and a new campaign; modernizing Diet Coke for a new generation of drinkers. Source: http:/ / www.coca-colacompany.com/ stories/ diet-coke-relaunch

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What is an organization? A legal entity that consists of people who share a common mission. This motivates them to develop offerings to create value for the organization and the consumers.

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For-profit organizations • Exist to serve the customers in order to earn a profit to survive

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Government Agencies • Provides a specific service to its constituents; Census Bureau

(population data) and U.S. Dept. of Commerce (Economic data)

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Nonprofit Organization • Profit is not the goal; operational efficiency and or client satisfaction

may be

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What is an industry? ● Organizations that have similar offerings

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All organizations have limited resources. ● This is why they must have a strategy, or they will lose

time, effort, and money in the short or long run. ● They need to povide a unique customer experience, while

achieving organization goals.

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The board of directors oversees 3 levels of strategy: corporate, business unit and functional

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Corporate Level Strategy • Chief Executive Officer (CEO) • Chief Marketing Officer (CMO)


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4 Strategic Business Unit Exist to establish, manage and maintain related offerings

● Perfume ● Leather Goods ● Luggage


Functional Level • Groups create value for the organization

• Departments: Groups with a specific function (i.e. marketing) • Crodd-functional teams

• Groups with a common purpose/ task

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Visionary organizations:

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● Establish a foundation ● Set a direction, and ● Create strategies to successfully develop and market their

offerings


Core Values • These are principles that guide an organization

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Organizational Values • These are a set of values, ideas, attitudes, and norms of behavior in

an organization

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Mission Statement • Identifying your consumers, market, products and technologies

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Medtronic Mission Statement “To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.”

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Star Trek’s Star Ship Enterprise Mission Statement “To explore strange new worlds, to seek out new life and new civilizations, to boldly go where no one has gone before.”

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Let’s weed out the “ugly people.”. American Apparel founder Dov Charney leaves as CEO and founder of his own company amidst sexual harrassment charges and discriminatory hiring.

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Organizational Direction What do you do? What is the primary business?

What business are you really in?

Goals and Objectives ● Profit ● Sales ($ or # ) ● Market Share ● Quality

● Customer Satisfaction

● Employee Welfare

● Social Responsibility

● Efficiency 23

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Always be SMART. ● Specific ● Measurable ● Attainable ● Relevant ● Time-based

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The Marketing Plan A roadmap for marketing actions of an organization for a specified time period

You need a marketing plan!

Goals and Objectives ● Long Ranged (2, 5, 10, 15+ years) ● Annual Reviews

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Marketing Dashboards Visual display of essential marketing information

Tracking strategic performance

Marketing Metric Measures the value of an activity or result

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One of the main goals of marketing dashboards are to

identify strengths and weaknesses. Spotting

deviations or trends and deciding whether or not you are

going to take action.

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Customer value strategies

Best Price Best Service Best Product

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Customer Value Benefits to the buyer from their products and services


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Strategic competitive direction

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Business Portfolio Analysis (BCG Matrix)

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Mar

ket G

row

th R

ate

Stars

Cash Cows Dogs

Question Marks

Relative Market Share

High

High Low Low

1. Question Marks (high growth, low market share) • Requires large amounts of cash to maintain market

share 2. Stars (high growth, high market share)

• Leaders in business; generates large amounts of cash

3. Cash Cows (low growth, high market share) • Generate large amounts of cash and dominant

shares of slow-growth markets

4. Dogs (low growth, low market share) • May generate large amounts of cash, but may

require strategic alliances or competitive considerations

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Where is Apple? (BCG Matrix)

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Tablets

Smartphones

Desktop/Laptop PCs

MP3 Players


Strategic Direction The Diversification Analysis

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1

Market Penetration Market Development

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Product Development

3

Diversification

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CONTROLLABLE FACTORS

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Ben & Jerry’s Diversification Strategy

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The Strategic Marketing Process • How do we allocate our resources to get where we want to go? • How do we convert our plans into actions? • How do our results compares with our plans and do deviations

require new plans?


Strategic Marketing Process The Three Phases

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1 Planning Phase • Situation Analysis

(SWOT • Market-product focus

and goal setting • Marketing Program

Implementation Phase

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Evaluation Phase

3

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Situation (SWOT) Analysis ● Strength ● Weaknesses ● Opportunities ● Threats

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Step 1: SWOT Analysis Study ● Identify industry trends ● Analyze competitors ● Assess the organization ● Research present and prospective customers

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Step 1: SWOT Analysis Actions ● Build on a strength ● Correct a weakness ● Exploit an Opportunity ● Avoid a Disaster-Laden Threat

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Management actions happen based on SWOT(s)!

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Step 2: Market-Product Focus and Goal Setting ● Market Segmentation

○ Group your target demographic by their needs ● Points of Difference

○ What makes your product superior to your competitors?

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Step 3: Marketing Program ● Product Strategy

○ Choosing features in a product (i.e. airline tickets, cars) ● Price Strategy

○ Controlling costs ● Promotion Strategy

○ Showcasing the product ● Place (Distribution) Strategy

○ Location, location, location! 45


Consider the 4 Ps marketing mix in your program!

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Strategic Marketing P The Implementation Phase

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1

Obtaining Resources Designing the Marketing

Organization

2

Defining Precise Tasks, Responsibilities and

Deadlines

3

Executing the Marketing Program

4

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A breakdown example of a marketing department in a typical organization


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STRATEGICMARKETINGPROCESS

MY OWN MARKETING PLAN

P

L

A

N

N

I

N

G

P

H

A

S

E

SituationAnalysis(SWOT)

Location of Factor

Kind of Factor

Favorable

Unfavorable

Internal: Me

Core Values

Formal Education

Job Experience

Motivation

Other:

My Strengths:

My Weaknesses:

External:

Economic

Technical

Legal

Other:

Opportunities For Me:

Threats Affecting Me:

Focus

and Goal Setting

My Goals Upon Graduation

Personal Goals:

My Desired Position

Job Description:

My Target Industries,

Organizations, and

Locations

Industries:

Organizations:

Geographical Areas:

My Uniqueness

(Points of Difference)

Personality:

Education & Experience:

Other:

My “Positioning”

How You Compare to Other Job Applicants:

Marketing 3331IN MARKETING NEWS TODAYGoogle and Facebook face fines in Germany.Diet Coke Launches Full Brand Restage.What is an organization?For-profit organizationsGovernment AgenciesNonprofit OrganizationWhat is an industry?All organizations have limited resources.The board of directors oversees 3 levels of strategy: corporate, business unit and functionalSlide Number 12Corporate Level StrategySlide Number 14Functional LevelVisionary organizations:Core ValuesOrganizational ValuesMission StatementMedtronic Mission StatementStar Trek’s Star Ship Enterprise Mission StatementLet’s weed out the “ugly people.”.What business are you really in?Always be SMART.You need a marketing plan!Tracking strategic performanceSlide Number 27Customer value strategiesSlide Number 29Slide Number 30Slide Number 31Slide Number 32Strategic competitive directionBusiness Portfolio Analysis (BCG Matrix)Where is Apple? (BCG Matrix)Strategic Direction �The Diversification AnalysisBen & Jerry’s Diversification StrategyThe Strategic �Marketing ProcessStrategic Marketing Process�The Three PhasesSituation (SWOT) AnalysisStep 1: SWOT Analysis StudyStep 1: SWOT Analysis ActionsManagement actions happen based on SWOT(s)!Step 2: Market-Product Focus and Goal SettingStep 3: Marketing ProgramConsider the 4 Ps marketing mix in your program!Strategic Marketing P�The Implementation PhaseA breakdown example of a marketing department in a typical organizationSlide Number 49

developing successful organizational and marketing ... successful... · diet coke launches . full...

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