2 Strategic Planning for Competitive Advantage

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2Strategic Planning for Competitive Advantage

• Professor Close

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Objectives

• Introduce to students the components of
• Marketing concept via strategic planning
• Marketing management
• Marketing mix

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Marketing Concept

• Marketing concept is defined as the total effort
  to satisfy customers and achieve a profit (where
  customer is right comes from).
• Philosophy
• Production orient sell what we can produce.
  Marketing orient offer customers what they want.
  

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Adoption

• Consumer products (GE Pr. Gamble)
• The magic eraser

Pr. Gamble Brands
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Customer View (1)

• Customer value benefits vs cost (Mercedes,
  Gambling, others?)
• Low price not necessarily good

3900 Yugo??
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Customer View (2)

• Value is relative to competition (airline tickets
  and what else?)
• Customer service is before and after sales
  (example?)

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Marketing Management

• What is it??
• Continuously planning
• Implementing
• Controlling marketing activities

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Implementation, Evaluation, and Control
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Implementing Controlling

• Marketing plan
• Marketing strategy time related details
• Includes mix target market
• Resources (new business failures)
• Results expected (Wow! Chips)
• Control versus expected results

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Planning

1. Must look to the future
2. Match resources to opportunities (competencies)
3. Develop a marketing strategy
4. Consider the competition

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Techniques for Effective Strategic Planning
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Marketing PlanElements
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Marketing Strategy

• Target Market those you want to serve
• Not everyone should be targeted (mass mkt)
• Search for similar markets (may be big)
• Give an example of a particular markets target
  market and how effective is their marketing
  strategy.

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Competitive AdvantageIs there ever no
competition?
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What are Fords competitive advantages?
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Tips to Obtain Sustainable Competitive Advantage
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Strategic Alternatives
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In other words
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Marketing Mix Strategies

• Marketing Mix how you serve them
• 4Ps of Marketing
• Synergy
• What do each of these 4Ps mean to you?

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Portfolio Matrix

• Star (tablet PC)
• Cash cow (laptops)
• Problem child (phone/PDA)
• Dog (mainframe)

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Summary

• Marketing concept
• Marketing management planning, implementing, and
  controlling
• Four Ps (marketing mix strategies)
• Difference between marketing strategy and
  marketing plan
• Competitive advantages
• Strategy alternatives