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Strategic Marketing Planning

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Ben and Jerry's 3-part Mission Statement. Product Mission. Economic Mission. Social Mission ... Ben & Jerry's 3 Part Mission. 2-9. Business-Unit Strategy: The ... – PowerPoint PPT presentation

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Title: Strategic Marketing Planning


1
MARKETING STRATEGYO.C. FERRELL MICHAEL D.
HARTLINE
2
Strategic Marketing Planning
2
The Strategic Planning Process
  • Marketing Plan
  • a written document that provides the blueprint
    or outline of the organizations marketing
    activities, including the implementation,
    evaluation, and control of those activities.

3
Discussion Question
  • What role, if any, should customers play in the
    strategic planning process? Should they have a
    voice in developing the organizational mission,
    marketing goals, or the marketing strategy?

4
Exhibit 2.1
5
Organizational Mission vs. Organizational Vision
(1 of 2)
  • Elements of the Mission Statement
  • Five basic questions to be answered
  • Who are we?
  • Who are our customers?
  • What is our operating philosophy?
  • What are our core competencies or competitive
    advantages?
  • What are our concerns and interests related to
    our employees, our community, society in general
    and our environment?

6
Organizational Mission vs. Organizational Vision
(2 of 2)
  • Mission Width and Stability
  • Width Too broad or too narrow?
  • Stability Frequency of modifications
  • Customer-Focused Mission Statements
  • Ben and Jerrys 3-part Mission Statement
  • Product Mission
  • Economic Mission
  • Social Mission
  • Tylenol

7
Marketing Strategy in Action
  • As this 1946 ad demonstrates, railways were once
    a prominent way to travel across the country.
  • How did narrow mission statements lead to missed
    opportunities for the railroad industry?

8
Ben Jerrys 3 Part Mission
9
Corporate or Business-Unit Strategy
  • Business-Unit Strategy
  • The central means for
  • Utilizing and integrating the organizations
    resources
  • Carrying out the organizations mission
  • Achieving the organizations desired goals and
    objectives
  • Associated with developing a competitive
    advantage
  • Determines the nature and future direction of
    each business unit
  • Essentially the same as corporate strategy in
    small businesses

10
Functional Goals and Objectives
  • All business functions must support the
    organizations mission and goals.
  • Functional objectives should be expressed in
    clear, simple terms.
  • All functional objectives should be reconsidered
    for each planning period.

11
Functional Strategy
  • Functional strategies are designed to integrate
    efforts focused on achieving the areas stated
    objectives.
  • The strategy must
  • (1) Fit the needs and purposes of the functional
    area
  • (2) Be realistic with the organizations
    resources and
  • environment
  • (3) Be consistent with the organizations mission
  • goals, and objectives.
  • The effects of each functional strategy must be
    evaluated.

12
Implementation
  • Involves activities that execute the functional
    strategy.
  • Functional plans have two target markets
  • (1) External market
  • (2) Internal market
  • A company must rely on its internal market for a
    functional strategy to be implemented
    successfully.

13
Discussion Question
  • Defend or contradict this statement Developing
    marketing strategy is more important than
    implementing marketing strategy because if the
    strategy is flawed, it doesnt matter how well it
    is implemented.

14
Evaluation and Control
  • Designed to keep activities on target with goals
    and objectives
  • Coordination among functional areas is a critical
    issue
  • Open lines of communication is the key
  • Evaluation and control is both an ending and
    beginning
  • Occurs after a strategy has been implemented
  • Serves as the beginning point for planning in the
    next cycle

15
The Marketing Plan
  • Detailed formulation of the actions needed to
    carry out the marketing program
  • An action document
  • The handbook for marketing implementation,
    evaluation and control
  • Not the same as a business plan
  • Requires a great deal of information from many
    different sources

16
Marketing Plan Structure (1 of 5)
  • Should be well organized
  • A good marketing plan outline is
  • Comprehensive
  • Flexible
  • Consistent
  • Logical

17
Marketing Plan Structure
Exhibit 2.3
18
Marketing Plan Structure (2 of 5)
  • I. Executive Summary
  • Synopsis of the overall marketing plan
  • Introduces major aspects of the marketing plan
  • II. Situation Analysis
  • Summarizes information about 3 key environments
  • Internal environment
  • Customer environment
  • Firms external environment

19
Marketing Plan Structure (3 of 5)
  • III. SWOT Analysis
  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
  • Analysis of the SWOT matrix
  • Establishing a strategic focus

20
Marketing Plan Structure (4 of 5)
  • IV. Marketing Goals and Objectives
  • Formal statements of desired and expected
    outcomes of the marketing plan
  • Goals
  • Broad, simple statements of what is to be
    accomplished
  • Objectives
  • More specific and essential to planning
  • V. Marketing Strategy
  • Primary target market and marketing mix
  • Secondary target market and marketing mix

21
Marketing Plan Structure (5 of 5)
  • VI. Marketing Implementation
  • 1. What specific marketing activities will be
    undertaken?
  • 2. How will these activities be performed?
  • 3. When will these activities be performed?
  • 4. Who is responsible for the completion of these
    activities?
  • 5. How will the completion of planned activities
    be monitored?
  • 6. How much will these activities cost?
  • VII. Evaluation and Control
  • Formal marketing control
  • Informal marketing control
  • Financial assessments

22
Using the Marketing Plan Structure
  • Tips for using the marketing plan framework to
    develop a marketing plan
  • Plan ahead
  • Revise, revise, revise
  • Be creative
  • Use common sense and judgment
  • Think ahead to implementation
  • Update regularly
  • Communicate with others

23
Purposes and Significanceof the Marketing Plan
  • A good marketing plan will
  • (1) Explain both the present and future
    situations of
  • the organization
  • (2) Specify the outcomes that are expected
  • (3) Describe the specific actions that are to
    take place
  • (4) Identify the resources that will be needed
  • (5) Permit the monitoring of each action and its
  • results
  • Communicating the strategy to top executives is
    paramount.

24
Organizational Aspects of the Marketing Plan
  • Top managers ask two questions
  • (1) Will the marketing plan achieve the desired
  • goals and objectives?
  • (2) Are there alternative uses of resources that
  • would better meet objectives?
  • The marketing plan is most often prepared by the
    Marketing Director or VP of Marketing
  • The final approval lies with the President,
    Chairman or CEO

25
Major Problems in Developing and Implementing the
Marketing Plan
Exhibit 2.4
26
Apples Changing Strategic Focus
27
Strategic Planning in theMarket-Oriented
Organization
  • A Market-Oriented Organization
  • Shifts its focus
  • From products to the requirements of market
    segments
  • From transactions to relationships
  • From competition to collaboration
  • Puts customers needs and wants first
  • Focuses on long-term, value-added relationships
  • Instills a corporate culture that puts customers
    at the top of the organizational hierarchy
  • Cooperates with suppliers and competitors to
    serve customers better

28
Traditional Organizations
Exhibit 2.5 Part One
29
Market-Oriented Organizations
Exhibit 2.5 Part Two
30
Discussion Question
  • In many organizations marketing is not given a
    place of importance in the organizational
    hierarchy. Why do you think this happens? What
    other business functions get more importance? Why?
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