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MARKETING AN INTRODUCTION

2 Armstrong/Kotler

Company and Marketing

Strategy
Partnering to Build Customer
Relationships
Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall
Chapter Outline
Companywide Strategic Planning: Defining
Marketings Role
Designing the Business Portfolio
Planning Marketing: Partnering to Build
Customer
Relationships
Marketing Strategy and the Marketing Mix
Managing the Marketing Effort
Measuring and Managing Return on
Marketing Investment
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Strategic Planning
A fit
between
marketing
opportunitie
s and
organization
al goals and
capabilities

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Companywide Strategic
Planning

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Steps in Strategic Planning
Process
Corporate level:
Defining the company mission.
Setting objectives and goals.
Designing the business portfolio.
Business unit, product, and market
level:
Planning marketing strategy as
well as other functional strategies.
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Defining a Market-Oriented
Mission

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The Mission Statement
Defined
A mission statement is a statement
of the organizations purposewhat
it wants to accomplish in the larger
environment.
Example: Nikes mission is to
bring inspiration and innovation to
every athlete* in the world (*if you
have a body, you are an athlete).
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Setting Company Objectives and Goals
What Marketing Objectives?

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Setting Firm Objectives and
Goals
The mission should be translated into
supporting objectives for each level of
management.
Creates a hierarchy of objectives that are
consistent with one another. For example:
Business objective: Increase profits.
Marketing objective: Increase market
share of domestic and international
markets.

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Designing the Business
Portfolio
The Business Portfolio is the
collection of businesses and
products that
make up the
company

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Designing the Business
Portfolio
The company must:
Analyze its current business
portfolio or strategic business units
(SBUs) and decide which SBUs
should receive more, less, or no
investment.
Develop strategies for growth and
downsizing that will shape the
future business portfolio.
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Strategic Business Unit
(SBU)
Strategic business unit:
A unit of the company that has a
separate mission and objectives and
that can be planned independently
from other company businesses.
An SBU can be a company division, a
product line within a division, or
sometimes a single product or brand.

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Portfolio Analysis
Standard portfolio analysis evaluates
SBUs on two important dimensions:
Attractiveness of SBUs market or industry.
Strength of SBUs position within that
market or industry.
BCG Growth Share Matrix uses market
growth rate and relative market share
to classify SBUs into four groups.

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The Boston Consulting Group
Approach

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BCG Growth-Share Matrix
Stars: High-share of high-growth market.
Strategy: Build into cash cow via investment.
Cash cows: High-share of low-growth market.
Strategies: Maintain or harvest for cash to
build STARS.
Question marks: Low-share of high-growth
market.
Strategies: Build into STAR via investment
OR reallocate funding and let slip into DOG
status.
Dogs: Low-share of low-growth market.
Strategies: Maintain or divest.
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Discussion Question

What might
be the
limitations or
problems with
the matrix
approach?
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Strategies for Growth and
Downsizing

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Product/Market Expansion
Grid
The product/market expansion grid
can identify growth opportunities.
Market penetration
Existing markets, existing products
Market development
New markets, existing products
Product development
Existing markets, new products
Diversification
New products, new markets
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Downsizing
Downsizing reduces the business
portfolio by eliminating products of
business units that are not profitable
or that no longer fit the companys
overall strategy.
Many reasons exist for downsizing.

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Partnering to Build
Customer Relationships

Other Company Others in the


Departments Marketing system
Internal Value Chain Value delivery network 2 - 20
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Creating Customer Value
Marketers must practice partner
relationship management.
Working with partners internally
within the company can create an
effective value chain.
Working with external partners in
the marketing system helps to form
a superior value delivery network.

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Discussion Question
How might a
marketing manager
for a consumer
packaged goods
company like Frito
Lay partner within
their internal value
chain? Their value
delivery network?
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Marketing Strategy and the
Marketing Mix

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Customer Driven Marketing
Strategy
Market segmentation is the process
of dividing a market into distinct groups
of buyers who have different needs,
characteristics, or behaviors,
and who might require
separate products or
marketing programs

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Customer Driven Marketing
Strategy
Market targeting
involves evaluating each
market segments
attractiveness
and selecting
one or more
to enter

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Customer Driven Marketing
Strategy
Positioning is arranging for a
product to occupy a clear
distinctive,
and desirable
place relative to
competing
products in the
minds of the
customer.
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Discussion Question
Consider a restaurant
located near your
college. How could
they segment their
market? What
segments would they
target? How do they
position themselves
to these target
markets?
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Developing an Integrated
Marketing Mix

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The Marketing Mix
The set of controllable, tactical
marketing tools that the firm blends to
produce the response it wants in the
target market.
These tools are often called the 4 Ps:
Product
Price
Place (distribution)
Promotion
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Managing the Marketing Effort
Marketing Analysis

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Marketing Analysis

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Marketing Planning
Elements of a Marketing Plan

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Marketing Control

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Measuring and Managing Return on
Marketing Investment

Return on
marketing
investment
(marketing ROI) is
the net return from
a marketing
investment divided
by the costs of the
marketing
investment.
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Return on Marketing
Investment
Return on marketing investment is assessed
using one or more methods:
Standard marketing performance
measures (marketing dashboards):
Brand awareness, sales, market share.
Customer-centered measures:
Customer acquisition, customer
retention, customer lifetime value,
customer equity.
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Return on Marketing
Investment

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