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Strategic Planning and the Marketing Process

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Strategic Planning and the Marketing Process Unless we change our direction we are likely to end up where we are headed. -ANCIENT CHINESE WISDOM Planning Benefits ... – PowerPoint PPT presentation

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Title: Strategic Planning and the Marketing Process


1
Strategic Planning and the Marketing Process
2
  • Unless we change our direction we are likely to
    end up where we are headed.
  • -ANCIENT CHINESE WISDOM

3
Planning Benefits
  • Encourages thinking ahead systematically
  • Sharpens objectives
  • Results in better coordination
  • Suggests clear performance standards

4
STRATEGIC PLANNING
  • The process of developing and maintaining a
    strategic fit between the organizations goals
    and capabilities and its changing marketing
    opportunities.

5
  • Strategic planning involves
  • Defining a clear company mission
  • Setting company objectives
  • Design (evaluate) business portfolio
  • Developing/Coordinating functional strategies

6
Mission Statements
  • Addresses the questions
  • What is the purpose of our business?
  • Why do we (or should we) exist?
  • Who is the customer?

7
Characteristics of Good Mission Statements
  • Market oriented
  • Think NEEDS/WANTS, not products
  • Marketing myopia
  • Realistic
  • Clear and focused (specific)
  • Based on sustainable distinctive competencies
    which bestow differential advantages to
    organization

8
Characteristics of Good Mission Statements
(contd)
  • Should fit the marketing environment
  • Motivating
  • Future oriented
  • Above ALL else, useful and memorable

9
A Short Mission Statement Checklist
  • Mission statements should identify
  • 1. Customer groups to be served (general target
    markets)
  • 2. Needs/wants to meet
  • 3. General technologies to be employed to meet
    customer needs

10
How Should Mission Statements be Constructed?
  • Examine ORGANIZATION (culture, desires, history,
    current mission statement, programs,
    characteristics)
  • Examine EXTERNAL ENVIRONMENT (current and
    potential customers, publics, competition,
    environmental factors)
  • MATCH the 2 to identify SWOT

11
OBJECTIVES
  • Objectives for Organization and Organizational
    Units should be
  • Consistent with mission of organization
  • Based on clear understanding of characteristics
    and environment
  • Stated in QUANTITATIVE terms only if appropriate

12
Marketing Strategy Marketing Mix
  • Segment Markets
  • Select Target Markets
  • Seek those where you can develop sustainable
    competitive advantages
  • Select Market Position
  • Position versus positioning
  • Develop the Marketing Mix
  • Product?customer solution Price?customer cost
    Place?convenience Promotion?communication
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