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Strategic Planning and the Marketing Process

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Explain functional planning strategies and asses marketing's role in strategic planning. Describe the marketing process and the forces that influence it. ... – PowerPoint PPT presentation

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Title: Strategic Planning and the Marketing Process


1
Chapter 2
  • Strategic Planning and the Marketing Process

2
Road Map Previewing the Concepts
  • Explain companywide strategic planning and its
    four steps.
  • Discuss how to design business portfolios and
    growth strategies.
  • Explain functional planning strategies and asses
    marketings role in strategic planning.
  • Describe the marketing process and the forces
    that influence it.
  • List the marketing management functions,
    including the elements of a marketing plan.

3
Strategic Planning
  • Many companies operate without formal plans, yet
    these plans can provide many benefits such as
  • encouraging management to think ahead
    systematically,
  • forcing managers to clarify objectives and
    policies, and
  • helping the company to anticipate and respond
    quickly to environmental changes and sudden
    developments.

4
Strategic Planning
  • Strategic Planning is the Process of Developing
    and Maintaining a Strategic Fit Between the
    Organizations Goals and Capabilities and Its
    Changing Marketing Opportunities.

5
Steps in Strategic Planning(Fig. 2-1)
6
3M
  • A mission statement is a statement of an
    organizations purpose.
  • 3M solves peoples problems by putting
    innovation to work for them.
  • http//www.3m.com/

7
Setting Company Objectives and Goals
8
Designing the Business Portfolio
  • The business portfolio is the collection of
    businesses and products that make up the company.
  • The company must
  • analyze its current business portfolio or
    Strategic Business Units (SBUs),
  • decide which SBUs should receive more, less, or
    no investment,
  • develop growth strategies for adding new products
    or businesses to the portfolio.

9
Analyzing Current SBUsBCG Growth-Share Matrix
(Fig. 2-2)

Relative Market Share High
Low
  • Question Marks
  • High growth, low share
  • Build into Stars or phase out
  • Require cash to hold
  • market share
  • Stars
  • High growth share
  • Profit potential
  • May need heavy
  • investment to grow

?
Market Growth Rate Low High
  • Dogs
  • Low growth share
  • Low profit potential
  • Cash Cows
  • Low growth, high share
  • Established, successful
  • SBUs
  • Produce cash

10
Problems With Matrix Approaches
Can be Difficult, Time-Consuming, Costly to
Implement
Difficult to Define SBUs Measure Market
Share/Growth
Focus on Current Businesses, But Not Future
Planning
Can Lead to Unwise Expansion or Diversification

11
Interactive Student Assignments
  • Form students into groups of three to five
    members. Each group should answer the following
    questions pertaining to the opening chapter
    material on Intel, then discuss in class
  • Why has Intel been so successful?
  • What has been the companys primary strategy?
  • What role has innovation played in Intels
    success?

12
Product/Market Expansion Grid (Fig. 2-3)
1. Market Penetration
3. Product Development
Existing Products
New Products
2. Market Development
4. Diversification
Existing Markets
New Markets
13
Product/Market Expansion Grid Based on Starbucks
  • Market Penetration making more sales to current
    customers without changing its products.
  • How? Add new stores in current market areas,
    improvements in advertising, prices, etc.
  • Market Development identify and develop new
    markets for its current products.
  • How? Review new demographic (senior consumers)
    or geographic (Asian, European Australian)
    markets.

14
Product/Market Expansion Grid Based on Starbucks
  • Product Development offering modified or new
    products to current markets.
  • How? Increasing food offerings, sell coffee in
    supermarkets, extend to Frappuccino drinks.
  • Diversification start up or buy businesses
    outside current products and markets.
  • How? Currently testing two new restaurant
    concepts Cafe Starbucks and Circadia, or
    branded casual clothing.

15
Planning Cross-Functional Strategies
Marketings Role in Strategic Planning
Guiding Philosophy
Inputs to Strategic Planners
Design Strategies
Customer Satisfaction
16
Value Delivery Network
Companys Value Chain
Suppliers
Customers
Distributors
17
The Marketing Process (Fig. 2-4)
18
Connecting With Customers
  • Market Segmentation determining distinct groups
    of buyers (segments) with different needs,
    characteristics, or behavior.
  • Market Targeting evaluating each segments
    attractiveness and selecting one or more segments
    to enter.
  • Market Positioning arranging for a product to
    occupy a clear, distinctive, and desirable place
    relative to competing products in the minds of
    target consumers. i.e. Chevy Blazer is like a
    rock.

19
Discussion Question
  • What is the difference between a market segment
    and a market target?

20
Developing the Marketing Mix (Fig. 2-5)
21
The 4 Ps 4 Cs of the Marketing Mix
  • 4 Ps
  • Product
  • Price
  • Place
  • Promotion
  • 4 Cs
  • Customer Solution
  • Customer Cost
  • Convenience
  • Communication

22
Managing the Marketing Effort (Fig. 2-6)
23
Contents of a Marketing Plan(Table 2-2)
24
Marketing Department Organization
Functional Organization
Geographic Organization
Combination Plan
Formats for Organizing the Department Include

Product Management Organization
Market or Customer Organization
25
Marketing Control Process (Fig. 2-7)
26
Review of Concept Connections
  • Explain companywide strategic planning and its
    four steps.
  • Discuss how to design business portfolios and
    growth strategies.
  • Explain functional planning strategies and assess
    marketings role in strategic planning.
  • Describe the marketing process and the forces
    that influence it.
  • List the marketing management functions,
    including the elements of a marketing plan.
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