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Marketing: Planning and Strategy. A pattern of major objectives, goals, essential policies and plans that define the current or future firm’s business and the kind of company the firm is now or is to become. Strategy: Definition. Why do we need to “Strategize”. Finite resources

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Presentation Transcript
strategy definition
A pattern of major objectives, goals, essential policies and plans that define the current or future firm’s business and the kind of company the firm is now or is to become.Strategy: Definition
why do we need to strategize
Why do we need to “Strategize”
  • Finite resources
  • Uncertainty about competitive strengths
  • Irreversible commitment of resources
  • Coordinated decisions
  • Uncertainty about control of initiative
slide5

internal

external

SWOT Analysis

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
identifying and framing organizational growth opportunities
Identifying and Framing Organizational Growth Opportunities

Converting Environmental Opportunities into Organizational Opportunities

  • What might we do? - environmental opportunity
  • What do we do best? - distinctive competency
  • What must we do? - success requirements
slide7

The Marketing Mix

  • Product strategy
  • Promotion/Communication strategy
  • Placement/Distribution/Channel strategy
  • Pricing strategy
slide8

Formulating Product-Market Strategies

Markets

Existing

New

Market

Penetration

Market

Development

Existing

Offerings

New Offering

Development

New

Diversification

formulating product market strategies
Formulating Product-Market Strategies

Market Penetration Strategy

  • greater dominance is key

Market Development Strategy

  • exporting
  • licensing
  • joint venture
  • direct investment
formulating product market strategies1
Formulating Product-Market Strategies

Product-Development Strategy

  • product innovation
  • product augmentation
  • product line extension
  • cannibalism

Diversification

drafting a marketing plan
Drafting a Marketing Plan
  • Context and Scope of Marketing Effort
  • Focus: Business, Product, Brand
  • Time Dimension: Short-run, Long-run
decisions about competing
Decisions About Competing
  • Where (markets)
  • When (Entry)
  • How
problems in strategic marketing
Problems in Strategic Marketing
  • Too much emphasis on
    • where to compete
  • Too little emphasis on
    • how to compete
    • when to compete
    • adaptability
    • uniqueness
implementation common problems
Implementation: Common Problems
  • Simplify marketing strategies
  • More focus on uniqueness and adaptability
  • Improve speed and flexibility