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2 Strategic Planning for Competitive Advantage. Professor Close. Objectives. Introduce to students the components of: Marketing concept via strategic planning Marketing management Marketing mix. Marketing Concept.

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Presentation Transcript
objectives
Objectives
  • Introduce to students the components of:
      • Marketing concept via strategic planning
      • Marketing management
      • Marketing mix
marketing concept
Marketing Concept
  • Marketing concept is defined as the total effort to satisfy customers and achieve a profit (where customer is right comes from).
  • Philosophy:
    • Production orient: sell what we can produce. Marketing orient: offer customers what they want.
adoption
Adoption
  • Consumer products (GE & Pr. & Gamble)
  • The magic eraser

Pr. & Gamble Brands

customer view 1
Customer View (1)
  • Customer value: benefits vs cost (Mercedes, Gambling, others?)
  • Low price not necessarily good

$3900 Yugo??

customer view 2
Customer View (2)
  • Value is relative to competition (airline tickets and what else?)
  • Customer service is before and after sales (example?)
marketing management
Marketing Management
  • What is it??
      • Continuously planning
      • Implementing
      • Controlling marketing activities
slide8

Implementation

Evaluation

Product

Place

PromotionPrice

Met objectives?

  • Audits
  • comprehensive
  • systematic
  • independent
  • periodic

Implementation, Evaluation, and Control

implementing controlling
Implementing & Controlling
  • Marketing plan:
      • Marketing strategy + time related details
      • Includes mix + target market
      • Resources (new business failures)
      • Results expected (Wow! Chips)
  • Control: versus expected results
planning
Planning
  • Must look to the future
  • Match resources to opportunities (competencies)
  • Develop a marketing strategy
  • Consider the competition
slide11

Continualattention

Creativity

Management

commitment

Effective Strategic Planning

Techniques for Effective Strategic Planning

marketing plan elements

Business Mission Statement

Objectives

Situation or SWOT Analysis

Marketing Strategy

Target Market Strategy

Marketing Mix

Product

Distribution

Promotion

Price

ImplementationEvaluationControl

Marketing PlanElements
marketing strategy
Marketing Strategy
  • Target Market: those you want to serve
    • Not everyone should be targeted (mass mkt)
    • Search for similar markets (may be big)
    • Give an example of a particular market’s target market and how effective is their marketing strategy.
competitive advantage is there ever no competition

Cost

Types of Competitive Advantage

Product/Service Differentiation

Niche Strategies

Competitive AdvantageIs there ever no competition?
tips to obtain sustainable competitive advantage

Patents

Skills and Assets

Copyrights

Locations

Equipment

Technology

Customer Service

Promotion

Tips to Obtain Sustainable Competitive Advantage
strategic alternatives

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

Strategic Alternatives
in other words

Identify strategic alternatives

Market development = customers

Market penetration = share

Product development = products

new products +

new markets

Diversification =

In other words…
marketing mix strategies
Marketing Mix Strategies
  • Marketing Mix: how you serve them
  • 4Ps of Marketing:
  • Synergy
  • What do each of these 4Ps mean to you?
portfolio matrix
Portfolio Matrix
  • Star (tablet PC)
  • Cash cow (laptops)
  • Problem child (phone/PDA)
  • Dog (mainframe)
summary
Summary
  • Marketing concept
  • Marketing management: planning, implementing, and controlling
  • Four Ps (marketing mix strategies)
  • Difference between marketing strategy and marketing plan
  • Competitive advantages
  • Strategy alternatives