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Strategic Planning and Marketing Process - Marketing lecture

Nov 17, 2014

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Page 1: Strategic Planning and Marketing Process - Marketing lecture

Strategic Planning and Strategic Planning and Marketing ProcessMarketing Process

Page 2: Strategic Planning and Marketing Process - Marketing lecture

Strategic planningStrategic planningThe process of developing and The process of developing and

maintaining a strategic fit between the maintaining a strategic fit between the

organization’s goals and capabilities organization’s goals and capabilities

and its changing marketing and its changing marketing

opportunities. opportunities.

Page 3: Strategic Planning and Marketing Process - Marketing lecture

Planning--what are we Planning--what are we going do and how are we going do and how are we going to do it?going to do it?

Page 4: Strategic Planning and Marketing Process - Marketing lecture

Why Plan?Why Plan?• Address changing environment Address changing environment

and consumersand consumers

• Develop shared goals within Develop shared goals within organizationorganization

• Address competitive threatAddress competitive threat

Page 5: Strategic Planning and Marketing Process - Marketing lecture

Planning is no Planning is no fun!fun!

Who likes to think Who likes to think

about the future?about the future? It is just an unnatural It is just an unnatural

act!act!

Page 6: Strategic Planning and Marketing Process - Marketing lecture

If you fail to plan,If you fail to plan,you plan to fail.you plan to fail.

Page 7: Strategic Planning and Marketing Process - Marketing lecture

Planning requires that Planning requires that you:you:

Anticipate the futureAnticipate the future

Determine actions that Determine actions that are needed to achieve are needed to achieve objectivesobjectives

What doyou see?

Page 8: Strategic Planning and Marketing Process - Marketing lecture

The Planning The Planning ProcessProcess

Page 9: Strategic Planning and Marketing Process - Marketing lecture

Environmental AnalysisEnvironmental Analysis

Mission & Objective SettingMission & Objective Setting

Marketing Strategy DevelopmentMarketing Strategy Development

Action PlansAction Plans

Page 10: Strategic Planning and Marketing Process - Marketing lecture

Characteristics Characteristics of a Strategic of a Strategic

PlanPlan

Page 11: Strategic Planning and Marketing Process - Marketing lecture

Broad in ScopeBroad in Scope Long Range: 3 - 5 + YearsLong Range: 3 - 5 + Years Focus on Organizational ObjectivesFocus on Organizational Objectives Initiated and Managed by Top ManagementInitiated and Managed by Top Management Becomes Basis for Tactical Planning & Becomes Basis for Tactical Planning &

OperationsOperations

Page 12: Strategic Planning and Marketing Process - Marketing lecture

Strategic PlanningStrategic Planning

Conducted by Board, Conducted by Board, CEO, Division VPsCEO, Division VPs

Sets ObjectivesSets Objectives Fundamental StrategiesFundamental Strategies

Page 13: Strategic Planning and Marketing Process - Marketing lecture

Tactical Planning Tactical Planning Middle Management - Sales Mgr., Middle Management - Sales Mgr.,

Mkt. Research Director, Advertising Mkt. Research Director, Advertising DirectorDirector

Quarterly & Semi-Annual PlansQuarterly & Semi-Annual Plans Departmental Policies and ProceduresDepartmental Policies and Procedures Budget AllocationsBudget Allocations

Page 14: Strategic Planning and Marketing Process - Marketing lecture

Operational PlanningOperational Planning

District Sales Managers, District Sales Managers, Staff Marketing Staff Marketing SupervisorsSupervisors

Daily and Weekly PlansDaily and Weekly Plans Departmental Rules & Departmental Rules &

ProceduresProcedures

Page 15: Strategic Planning and Marketing Process - Marketing lecture

It is more important to do It is more important to do what is strategically right what is strategically right than what is immediately than what is immediately

profitable.profitable.

--Phillip Kotler--Phillip Kotler

Page 16: Strategic Planning and Marketing Process - Marketing lecture

SWOT AnalysisSWOT AnalysisSStrengthstrengths

WWeaknesseseaknesses

OOpportunitiespportunities

TThreatshreats

Page 17: Strategic Planning and Marketing Process - Marketing lecture

Steps in Strategic Steps in Strategic PlanningPlanning

Page 18: Strategic Planning and Marketing Process - Marketing lecture

Defining the

CompanyMission

Setting CompanyObjectivesand Goals

Designingthe Business

Portfolio

Planning, marketing,and other functionalStrategies

Corporate LevelBusiness unit,

product,and market

level

Page 19: Strategic Planning and Marketing Process - Marketing lecture

Strategic Planning involves Strategic Planning involves developing an overall developing an overall company strategy for long-company strategy for long-run survival and growth.run survival and growth.

Page 20: Strategic Planning and Marketing Process - Marketing lecture

This process involves:This process involves: Defining a MissionDefining a Mission: Statement of an organization’s : Statement of an organization’s

purpose; should be market oriented.purpose; should be market oriented. Setting Company ObjectivesSetting Company Objectives: Supporting goals and : Supporting goals and

objectives to guide the entire company.objectives to guide the entire company. Designing a Business Portfolio: Designing a Business Portfolio: Collection of businesses Collection of businesses

and products that make up the company.and products that make up the company. Planning Functional Strategies: Planning Functional Strategies: Detailed planning for Detailed planning for

each department designed to accomplish strategic each department designed to accomplish strategic objectives.objectives.

Page 21: Strategic Planning and Marketing Process - Marketing lecture

Defining the Company’s Defining the Company’s Business and MissionBusiness and Mission

Page 22: Strategic Planning and Marketing Process - Marketing lecture

Market OrientedMarket Oriented

RealisticRealistic

Fit Market EnvironmentFit Market Environment

Distinctive CompetenciesDistinctive Competencies

MotivatingMotivating

Specific

Characteristics

of a Good Mission

Statement:

A Mission Statement is a Statement of the Organization’s Purpose.

Page 23: Strategic Planning and Marketing Process - Marketing lecture

Setting Company Setting Company Objectives and Goals Objectives and Goals

Page 24: Strategic Planning and Marketing Process - Marketing lecture

M arke tin gS tra teg y

M arke tin gS tra teg y

M arke tin gO b jec tive # 1

M arke tin gS tra teg y

M arke tin gO b jec tive # 2

M arke tin gS tra teg y

M arke tin gS tra teg y

M arke tin gO b jec tive # 3

M iss ionS ta tem en t

Page 25: Strategic Planning and Marketing Process - Marketing lecture

Designing the Designing the Business PortfolioBusiness Portfolio

Page 26: Strategic Planning and Marketing Process - Marketing lecture

Business Portfolio:Business Portfolio:

The collection of business and products that make up the companyThe collection of business and products that make up the company

Portfolio Analysis:Portfolio Analysis:

A tool by which management evaluates the various business making A tool by which management evaluates the various business making up the companyup the company

Strategic Business Unit (SBU):Strategic Business Unit (SBU):

A unit of the company that has a separate mission and objectives and A unit of the company that has a separate mission and objectives and that can be planned independently from other company businessthat can be planned independently from other company business

Page 27: Strategic Planning and Marketing Process - Marketing lecture

The best portfolio is the one that best fits the company’s strengths and The best portfolio is the one that best fits the company’s strengths and weaknesses to the opportunities in the environment.weaknesses to the opportunities in the environment.

The company must:The company must: Analyze its Analyze its currentcurrent business portfolio or Strategic Business Units business portfolio or Strategic Business Units

(SBU’s)(SBU’s) Decide which SBU’s should receive more, less, or no investmentDecide which SBU’s should receive more, less, or no investment Develop growth strategies for adding Develop growth strategies for adding newnew products or businesses to products or businesses to

the portfoliothe portfolio

Page 28: Strategic Planning and Marketing Process - Marketing lecture

The Boston Consulting The Boston Consulting Group’s Growth-Share Group’s Growth-Share

MatrixMatrix

Page 29: Strategic Planning and Marketing Process - Marketing lecture

3 ?

10x 4x 2x 1.5x 1x 10x 4x 2x 1.5x 1x

20%-20%-18%-18%-16%-16%-14%-14%-12%-12%-10%-10%- 8%-8%- 6%-6%- 4%-4%- 2%-2%- 00

Mar

ket

gro

wth

rat

e

Relative market share

Stars

Cash cow

Question marks

Dogs

? ??5

4

2

1

68

7.5x .4x .3x .2x .1x .5x .4x .3x .2x .1x

Page 30: Strategic Planning and Marketing Process - Marketing lecture

Marketing ProcessMarketing Process

Page 31: Strategic Planning and Marketing Process - Marketing lecture

Product/Market Product/Market Expansion GridExpansion Grid

Page 32: Strategic Planning and Marketing Process - Marketing lecture

Market-penetrationstrategy

(Diversificationstrategy)

Product-developmentstrategy

Market-developmentstrategy

CurrentCurrentmarketsmarkets

NewNewmarketsmarkets

CurrentCurrentproductsproducts

NewNewproductsproducts

Page 33: Strategic Planning and Marketing Process - Marketing lecture

Product/ Market Expansion Product/ Market Expansion GridGrid

Market Penetration:Market Penetration:

Making more sales to current customers without changing its Making more sales to current customers without changing its products. products.

How? Add new stores in current market areas, How? Add new stores in current market areas, improve advertising, adjust prices, service or store improve advertising, adjust prices, service or store design.design.

Page 34: Strategic Planning and Marketing Process - Marketing lecture

Market Development: Market Development:

develop new markets for its current develop new markets for its current products. products.

How? Identify new demographic or How? Identify new demographic or geographic markets.geographic markets.

Page 35: Strategic Planning and Marketing Process - Marketing lecture

Product Development:Product Development:

Offering modified or new products to current Offering modified or new products to current markets. markets.

How? New styles, flavors, colors, or modified How? New styles, flavors, colors, or modified products.products.

Page 36: Strategic Planning and Marketing Process - Marketing lecture

Diversification:Diversification:

New products for new markets. New products for new markets.

How? Start up or buy new businesses. How? Start up or buy new businesses.

Page 37: Strategic Planning and Marketing Process - Marketing lecture

Strategic Planning, Strategic Planning, Implementation, and Implementation, and

Control ProcessControl Process

Page 38: Strategic Planning and Marketing Process - Marketing lecture

Corporateplanning

Divisionplanning

Businessplanning

Productplanning

Organizing

Implementing

Measuringresults

Diagnosingresults

Takingcorrective

action

PlanningPlanning ImplementationImplementation ControlControl

Page 39: Strategic Planning and Marketing Process - Marketing lecture

Marketing Strategy Marketing Strategy Planning ProcessPlanning Process

Marketing Strategy Marketing Strategy Planning ProcessPlanning Process

Page 40: Strategic Planning and Marketing Process - Marketing lecture

CustomersCustomersNeeds and otherNeeds and other

SegmentingSegmentingDimensionsDimensions

CompanyMission, Objectives,

& Resources

CompetitorsCurrent &

Prospective

Page 41: Strategic Planning and Marketing Process - Marketing lecture

CustomersCustomersNeeds and otherNeeds and other

SegmentingSegmentingDimensionsDimensions

CompanyMission, Objectives,

& Resources

CompetitorsCurrent &

Prospective

S.W.

O.T.

External Market EnvironmentExternal Market Environment

Page 42: Strategic Planning and Marketing Process - Marketing lecture

CustomersCustomersNeeds and otherNeeds and other

SegmentingSegmentingDimensionsDimensions

CompanyMission, Objectives,

& Resources

CompetitorsCurrent &

Prospective

S.W.O.T.

External Market EnvironmentExternal Market Environment

Targeting &Segmentation

Positioning &DifferentiationPositioning &Differentiation

Page 43: Strategic Planning and Marketing Process - Marketing lecture

CustomersCustomersNeeds and otherNeeds and other

SegmentingSegmentingDimensionsDimensions

CompetitorsCurrent &

Prospective

S.W.O.T.

External Market EnvironmentExternal Market Environment

Targeting &Segmentation

Positioning &DifferentiationPositioning &Differentiation

Narrowing down to focused strategy with quantitative and qualitative screening criteria

CompanyMission, Objectives,

& Resources