Chapter Two Marketing Strategy: Where Marketing Really Begins . With Duane Weaver. OUTLINE. Strategic Planning Defined and the Process SBU’s Marketing Positioning – Tools: - The BCG Matrix and - The Product-Market Expansion Grid Partnering Strategy a& Marketing Mix Segmentation
Marketing Strategy: Where Marketing Really Begins
With Duane Weaver
Strategic Planningis the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.
Company Wide Strategic Planning
Company Mission and Company Objectives
Design Business Portfolio
Strategies for Growth
Product Market Expansion
Developing Customer Driven Marketing Strategy
Segmentation, Targeting and Positioning
Developing the Integrated Marketing Mix
Product, Price, Place, Promotion
Defining a Clear Company Mission
States the organization’s purpose.
Market and customer-oriented.
Provides direction to internal stakeholders.
Setting Company Objectives and Goals
The mission of the organization is translated to detailed, quantifiable objectives
The rest of the planning process is supported by these objectives
A market oriented mission statement
A unit of the company that has a separate mission and objectives and that can be planned independently from other company businesses.
Can be a company division, a product line within a division or sometimes a single product or brand
Use cash to makeinto a star
Businessstrength,growth rate,cash use
Fix or abandon
Nurture to generate cash
Industry attractiveness, marketshare, cash generation
Marketing Strategies - The marketing logic by which the company creates customer value and achieves profitable customer relationships.
Marketing Mix Strategies – guided by marketing strategies made up of factors under its control - product, price, place, and promotion.
The process of dividing a market into distinct groups of buyers with different needs, characteristics or behaviours who might require separate products or marketing programs.
Consumers are grouped into market segments based on:
Behavioral factors (e.g.: bought here before-loyalty)
Market Segmentation - exercise
Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.
Process begins with differentiating the company’s marketing offer so it gives consumers more value.
The set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market.
PRODUCT provides CUSTOMER SOLUTION
PRICE represents CUSTOMER COST
PLACE provides CONVENIENCE
PROMOTION is two-way COMMUNICATION
Marketing Analysis – A detailed description and analysis of the current situation facing the company (e.g.: SWOT)
Marketing Planning – a detailed plan for each business unit
Marketing Implementation – turning plans into action
Marketing Department Organization –
Market based organizations
Marketing Control – evaluating the results
Current marketing situation.
Review of distribution.
Threat and opportunity analysis (SWOT).
Objectives and issues.