Strategic Planning and The Marketing Process

Strategic Planning and the Marketing Process
Prof. Rushen Chahal
Powerpoint Templates
Page 1
Strategic Planning Process

Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities. This process involves:
Defining the Company Mission: Statement of an organizations purpose - what it wants to accomplish in the larger environment. Setting Company Objectives and Goals: Supporting objectives for each level of management. Designing the Business Portfolio: Collection of businesses and products that make up the company. Planning Functional Strategies: Detailed planning for each department designed to accomplish strategic objectives.
Page 2
Mission Statements
Market Oriented
2-3
Motivating Characteristics of Good Mission Statements Distinctive Competencies Fit Market Environment
Realistic
Specific
Copyright 1998 Prentice Hall
Page 3
Designing the Business Portfolio

The best portfolio is the one that best fits the companys strengths and weaknesses to opportunities in the environment. A Strategic Business Unit (SBU) is a unit of the company:
that has a separate mission and objectives, and that can be planned independently from other company businesses.
The company must:

analyze its current business portfolio or Strategic Business Units (SBUs), and decide which SBUs should receive more, less, or no investment, and develop growth strategies for adding new products or businesses to the portfolio.
Page 4
Analyzing Current SBUs: Boston Consulting Group Approach

Relative Market Share
High
Market Growth Rate
High
Stars
High growth & share Profit potential May need heavy investment to grow
Low Question Marks
High growth, low share Build into Stars/ phase out Require cash to hold market share
Cash Cows
Low growth, high share Established, successful SBUs Produce cash
Dogs
Low growth & share Low profit potential
Low
Page 5
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
Page 6
Developing Growth Strategies

Product/ Market Expansion Grid
Existing Products Existing Markets New Markets 1. Market Penetration 2. Market Development New Products 3. Product Development
4. Diversification
Page 7
Product/ Market Expansion Grid

Market Penetration making more sales to current customers Penetration: without changing products. How? Cut prices, increase advertising, get products into more stores. Market Development identifying and developing new markets Development: for its current products. How? Identify new demographic or geographic markets. Product Development offering modified or new products to Development: current markets. How? New styles, sizes, colors, or other modified products. Diversification start up or buy new businesses outside of its Diversification: current products and markets.
Page 8
Marketings Role in Strategic Planning

Provides a Guiding Philosophy
Provides Inputs to Strategic Planners
Designs Strategies for Reaching Units Objectives
Page 9
A Companys Value Chain

Each Department in a Company Carries Out ValueCreating Activities to Design, Produce, Market, Deliver, and Support the Firms Products.
Marketing
Purchasing
Customer
Information Systems
Operations Powerpoint Templates
Page 10
The Marketing Process

DemographicEconomic Environment Marketing Intermediaries TechnologicalNatural Environment
Product Suppliers Place Target Consumers Promotion Price Publics
PoliticalLegal Environment
Competitors
SocialCultural Environment
Page 11
Process of Selecting Target Consumers

Market Segmentation process of dividing a market into Segmentation: distinct groups buyers (segments) with different needs, etc. who might require separate products.
Market Segment - consumers who respond in similar way to a given set of marketing efforts.
Market Targeting evaluating each market segments Targeting: attractiveness and selecting one or more target segments to enter. Market Positioning products clear, distinctive and desirable Positioning: place relative to competing products in the minds of target segments.
Powerpoint Templates Page 12
Marketing Mix- The Four Ps

Product
Goods-and-service combination a company offers a target market
Price
Amount of money consumers have to pay to obtain the product
Target Customers Intended Positioning
Activities that persuade target customers to buy the product
Company activities that make the product available to target customers
Promotion
PlacePage 13
Four Marketing Management Functions

Marketing Analysis of Companys Situation
Planning Implementation Develop Strategic Plans Develop Marketing Plans Carry Out the Plans
Control Measure Results Evaluate Results Take Corrective Action
Page 14
Contents of a Marketing Plan

Executive Summary Current Marketing Situation Threats and Opportunities Objectives and Issues Marketing Strategy Action Programs Budgets Controls
Page 15
Marketing Implementation
Marketing Strategy
Decision and Reward Organizational Structure Action Programs Human Resources Climate and Culture
Implementation
Marketing Performance Powerpoint Templates
Page 16
Marketing Department Organization

Functional
Combination Plan
Geographic
Ways to Carry Out Marketing Activities
Market Management
Product Management
Page 17
Marketing Control
Set Marketing Goals
Measure Performance
Evaluate Performance
Take Corrective Action
Page 18
Marketing Audits
Marketing Mix
Marketing Marketing Strategy Strategy
Areas of Areas of Assessment Assessment in Marketing in Marketing Audits Audits Marketing Environment
Marketing Productivity & Profitability
Marketing Marketing Systems Systems Marketing Organization
Page 19

Strategic Planning and The Marketing Process

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Strategic Planning and the Marketing Process

Prof. Rushen Chahal

Strategic Planning Process

Designing the Business Portfolio

The company must:

Analyzing Current SBUs: Boston Consulting Group Approach

Market Growth Rate

Low Question Marks

Problems With Matrix Approaches

Difficult to Define SBUs & Measure Market Share/ Growth

Focus on Current Businesses, But Not future Planning

Can Lead to Unwise Expansion or Diversification

Developing Growth Strategies

Product/ Market Expansion Grid

Marketings Role in Strategic Planning

Provides Inputs to Strategic Planners

Designs Strategies for Reaching Units Objectives

A Companys Value Chain

Operations Powerpoint Templates

The Marketing Process

Product Suppliers Place Target Consumers Promotion Price Publics

Process of Selecting Target Consumers

Marketing Mix- The Four Ps

Target Customers Intended Positioning

Activities that persuade target customers to buy the product

Company activities that make the product available to target customers

Four Marketing Management Functions

Control Measure Results Evaluate Results Take Corrective Action

Contents of a Marketing Plan

Marketing Performance Powerpoint Templates

Marketing Department Organization

Ways to Carry Out Marketing Activities

Take Corrective Action

Marketing Marketing Strategy Strategy

Marketing Productivity & Profitability

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