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Strategic Planning: Developing and Implementing a Marketing Plan PowerPoint PPT Presentation

Strategic Planning: Developing and Implementing a Marketing Plan Objectives Understand the importance of strategic marketing. Know the outline for a marketing plan. Define an appropriate business mission statement. Describe criteria for good marketing objectives.

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Strategic Planning: Developing and Implementing a Marketing Plan

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Strategic planning developing and implementing a marketing plan l.jpg

Strategic Planning: Developing and Implementing a Marketing Plan


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Objectives

  • Understand the importance of strategic marketing. Know the outline for a marketing plan.

  • Define an appropriate business mission statement.

  • Describe criteria for good marketing objectives.

  • Explain components of a situation analysis.

  • Identify strategic alternates and describe tools to select them.


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EVOLVING MARKET OPPORUNITIES

RESOURCES & OBJECTIVES

The Nature of Strategic Planning

LONG RUN PROFITABILITY AND GROWTH

Plus


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Marketing

Plan

What is a Marketing Plan?

Planning: Process of anticipating future events and

determining strategies

  • Marketing planning involves designing activities relating to marketing objectives and the changing marketing environment.

    • For example: product lines, prices, communication

  • Why?

Clearly stated activities to work toward common goals

Basis for comparison of actual and expected performance

Aware of threats and opportunities


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Business Mission Statement

Objectives

Situation or SWOT Analysis

Target Market Strategy

Marketing Mix

Distribution

Product

Promotion

Price

ImplementationEvaluationControl

Marketing Plan Elements

Marketing Strategy


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Define the Business Mission

  • Answers the question:

    • What business are we in and where are we going? Example: PepsiCo’s Business Mission

  • Focuses on the market(s) rather than the good or service

    • Marketing myopiaif focus is on specific goods/service

      • Examples? Frito-Lay is in the snack-food business

    • No clear foundation if focus is too broad

      • Examples? Amazon?

  • Strategic Business Units may also have a mission statement – characteristics of a SBU

Back


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PepsiCo’s Mission Statement

“To be the world's premier consumer products company focused on convenient foods and beverages.  We seek to produce healthy financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate.  And in everything we do, we strive for honesty, fairness and integrity.”

http:\\www.pepsico.com

Back


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Characteristics

Strategic Business Units

1.A distinct mission and specific target market

2.Control over their resources

3.Their own competitors

4.Plans independent of other businesses

Back


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Marketing Objectives Must Be:

“Our objective is to increase market share by 40% and to obtain customer satisfaction ratings of at least 90% in 2005.”

Marketing Plan Objectives

Realistic

Measurable

For a Defined Period of Time

Consistent with Organizational Objectives

Back


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S

Internal

W

O

External

T

Situation Analysis

Things the company does well.

Things the company does not do well.

Conditions in the external environment that favor strengths.

Conditions in the external environment that do not relate to existing strengths or favor areas of current weakness.


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Opportunities

Strengths

Opportunities: Strategic Windows

Limited period when the “fit” between key requirements of a market and competencies of the firm are optimum


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MarketPenetration

Increase market share among existing customers

Market

Development

Attract new customers to existing products

Product Development

Create new products for present markets

Diversification

Introduce new products into new markets

Discovering Strategic Alternatives (Windows)


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Common Tools

Common Goals

Profitability

Goals

Market Share

Selecting a Strategic Alternative

  • BCG Portfolio Matrix

More

  • GE Market Attractiveness Matrix

More


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Differential Advantage

  • Unique aspects of an organization that cause target market to patronize firm

  • A Sustainable Competitive Advantage cannot be copied by the competition.

Back to The Marketing Process


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Differential or Competitive Advantage

  • A set of unique features of a company & its products that are perceived by the target market as significant and superior to the competition

    • Two basic sources are:

      • Superior skills

      • Superior resources

  • A Sustainable Competitive Advantage cannot be copied by the competition.

Back to The Marketing Process


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Marketing Strategy

…involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.


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Marketing Strategy

  • Target Market Strategy

    • Identify the market segments that are of interest to the firm

    • Analyze market based on attractiveness of market segments

    • Select one or more target markets

  • The Marketing Mix

    • Product Strategies

    • Distribution (Place) Strategies

    • Promotion Strategies

    • Pricing Strategies


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