Chapter developing marketing strategies and a marketing plan two McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

chapter

developing marketing strategies and a marketing plan

two

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

LEARNING OBJECTIVES

LO1Define a marketing strategy.LO2Describe the elements of a marketing plan.LO3Analyze a marketing situation using SWOT

analyses.LO4Describe how a firm chooses which consumer

group(s) to pursue with its marketing efforts.LO5Outline the implementation of the marketing mix

as a means to increase customer value.LO6Summarize portfolio analysis and its use to

evaluate marketing performance.LO7Describe how firms grow their business.

Developing Marketing Strategies and a Marketing Plan

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Sustainable Competitive Advantage

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The Marketing Plan

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Three Phases of a Strategic PlanR

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Step One: Defining the Mission and/or Vision

MADD mission statement:MADD strives to stop drunk driving, support the victims of this violent crime and prevent underage drinking.

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Step Two: Conduct a Situation Analysis Using SWOT

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Step Three: Identifying and Evaluating Opportunities Using

STP

Courtesy The Hertz Corporation

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Step Four: Implement Marketing Mix

and Allocate Resources

Courtesy Bel Brands USA

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Product and Value Creation

• Successful products and services are those that customers perceive as valuable enough to buy.

Courtesy Amazoncom

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Price and Value Capture

• Price must allow for customers to perceive good value for the product they receive.

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Place and Value Delivery

• The product must be readily accessible

• Why is this retailer growing?

Courtesy Sephora USA, Inc

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Promotion and Value Communication

Television Radio Magazines Sales force New Media

©Lars A NikiThe McGraw-Hill Companies, Inc/Jill Braaten, photographer

McGraw-Hill Companies, Inc/Gary He, photographer The McGraw-Hill Companies, Inc/John Flournoy, photographer 2-13

Step Five: Evaluate Performance Using Marketing Metrics

P&G Website 2-14

Growth StrategiesMarket Penetration

• Existing marketing mix

• Existing customers• In what way is a

sale a Market penetration strategy?

Ryan McVay/Getty Images

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Growth StrategiesMarket Development Strategy

What can a company do to continue to grow

in a difficult retail environment?

What can a company do to continue to grow

in a difficult retail environment?

Frederic J Brown/AFP/Getty Images

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Growth StrategiesProduct Development

Used with permission by MTV 2010 MTV Networks All Rights Reserved MTV, all related titles, characters and logos are trademarks owned by MTV Networks, a division of Viacom International Inc.

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Growth StrategiesDiversification

Photo by Joe Scarnici/WireImage/Getty Images

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