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Enumeration: Planning new businesses, downsizing, or terminating older

businesses
Three key areas of Strategic Planning 1. Integrative Growth
1. Managing a companys businesses as an investment portfolio. 2. Diversification Growth
2. Assessing each businesss strength by considering the markets 3. Downsizing Older Businesses
growth rate and the companys position and fit in that market.
3. Development of strategy, a game plan for achieving long-term Steps in Business Strategic Planning
objectives. 1. Business Mission
2. SWOT analysis
A range of solutions 3. External Environment Analysis (Opportunity and Threat Analysis)
1. mergers and acquisitions 4. Internal Environment Analysis
2. downsizing 5. Goal Formulation
3. financial engineering 6. Strategy Formulation
4. Total Quality Management (TQM) 7. Program Formulation and Implementation
8. Feedback and Control
Three Groups of Stakeholders
1. customers Marketing Opportunity
2. employees 1. Buying opportunity more convenient or efficient
3. owners 2. Meet the need for more information and advice
3. Customize an offering that was previously only available in
Other Stakeholders standard form
1.communities
2. various governments The goal must
3. environment 1. Be arranged hierarchically to guide the business in moving from
broad ;to specific objectives for departments and individuals
Planning activities under the corporate and division strategic 2. Be stated quantitatively whenever possible
planning 3. Be realistic
1. Defining the Corporate Mission 4. Be consistent
2. Establishing Strategic Business Units (SBUs)
3. Assigning resources to each SBU Every business strategy consists of
4. Planning new businesses, downsizing, or terminating older 1. marketing strategy
businesses 2. compatible technology strategy
3. sourcing strategy
Competitive scopes the company will operate in
1. Industry scope Three generic types of marketing strategies
2. Products and application scope 1. Overall cost leadership
3. Competence scope 2. Differentiation
4. Marketing-segment scope 3. Focus
5. Vertical scope
6. Geographical scope Steps in the Marketing Process
1. Analyzing market opportunities
Three characteristics of SBUs 2. Developing marketing strategies
1. Single business or collection of related business that can be 3. Planning marketing programs
planned for separately. 4. Managing the marketing effort
2. Has its own set of competitors
3. Has a manager who is responsible for strategic planning and Marketing Mix
profit 1. Product
2. Price
Two of the best-known business portfolio evaluation models 3. Place
1. Boston Consulting Group model 4. Promotion
2. General Electric model
Process related to promotion
Four cells of the growth-share matrix 1. Informing
1. Question marks 2. Persuading
2. Stars 3. Influencing
3. Cash cows
4. Dogs Promotion is done by means of:
1. Personal selling
Strategies in determining what objective, strategy, and budget to 2. Advertising
assign to each SBU 3. Publicity
1. Build 4. Sales Promotion
2. Hold
3. Harvest Contents of a Marketing Plan
4. Digest 1. Executive summary and table of contents
2. Current Marketing Situation
Two major dimensions of General Electric Model 3. Opportunity and issue analysis
1. market attractiveness 4. Objectives
2. business strength 5. Marketing Strategy
6. Action programs
7. Projected profit-and-loss statement
8. Controls
Three Parts of a firms marketing environment Demographic
1. Internal environment 1. Age
2. Macro environment 2. Sex
3. Micro Environment 3. Income
4. Education
Marketing Intermediaries 5. Occupation
1. Resellers 6. Race
2. Physical distribution firms 7. Family life cycle
3. Marketing services agencies
4. Financial intermediaries Psychographic
1. Social class
Characteristics Affecting Consumer Behavior 2. Personality
1. Culture 3. Lifestyle
2. Forms a persons wants and behavior 4. Activities, interests, & opinions
3. Groups with shared value systems
4. Societys divisions who share values Points to Remember About Positioning
5. Interests and behaviors 1. Global Positioning
2. High-Tech positioning
Types of Buying Decision Behavior 3. High-Touch positioning
1. Complex
2. Significant brand differences Segmentation Strategies
3. Dissonance-reducing 1. Multisegment Strategy
4. Little brand differences 2. Sequential Segment Strategy
5. Habitual 3. Single-Segment Strategy
6. Variety-seeking 4. Niche Segment Strategy
5. Mass Customization Strategy
The Buyer Decision Process
1. Information search Different kind of Environmental Trends
2. Evaluation of alternatives 1. Economic Trends
2. Social Trends
3. Purchase Postpurchase behavior
3. Technological Advances
Sources of information 4. Political Changes
1. Commercial 5. Regulatory Change
2. Public
3. Experiential Five forces that shape industry competition
1. Competitive rivalry
The Three Organizational Markets 2. Bargaining power of suppliers
3. Bargaining power of customers
1. Industrial Markets
2. Reseller Markets 4. Threat of new entrants
3. Government Markets 5. Threat of substitute products or services

Marketing research focuses and organizes marketing


Roles in the Buying Centre:
1. Users information. It permits entrepreneurs to:
2. Influencers 1. Spot current and upcoming problems in the current market
2. Reduce business risks
3. Buyers
4. Gatekeepers 3. Identify sales opportunities
4. Develop plans of action
Keys to Marketing more Effectively towards
Step by step process for Marketing Research
Organizational Buyers
1. Understand the buyers/sellers needs 1. Define the problem
2. Get on the bidders list 2. Formulate a hypothesis
3. Contact the right people 3. Design the research
4. Collect the data
4. Maximize value
5. Analyze, Interpret, and present the findings
Important Elements of Market Segmentation
1. Each market segment has unique needs and wants How to do market research
1. Analyze returned items
and will have a unique demand curve
2. Each market segment requires its own marketing strategy 2. Ask former customers why they've switched
and marketing plan 3. Look at competitors prices
3. Market segmentation produces increased costs to the firm 4. Formal marketing research simply makes this familiar process
orderly
in the short run
4. Increased costs are generally offset by increasing sales in
the long run Types of research
1. exploratory research
Geographic 2. descriptive research
1. Country 3. causal research
2. Region
3. County size Forms of questions for Market Research
4. Density 1. Closed-ended questions Scales
2. Open-ended Questions Respondents
Creating a High Performance Business

To create the High Performance Business in your


organization, you must satisfy your key stakeholders by
improving critical business processes and aligning your
resources and organization to support those processes.