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Strategic planning and marketing . Strategic planning. The process of developing and maintaining a strategic fit between the organization`s goals and capabilities and its changing marketing opportunities. Steps in strategic planning. Defining the company mission.

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strategic planning
Strategic planning

The process of developing and maintaining a strategic fit between the organization`s goals and capabilities and its changing marketing opportunities.

steps in strategic planning
Steps in strategic planning..

Defining the company mission

Setting company objectives and goals

Corporate level

Designing the business portfolio

Planning, marketing and other functional strategies

Business unit, Market and product level

marketing plan
Marketing plan
  • Planning is the process of anticipating future events and determining strategies to achieve organizational objectives in the future.
  • Marketing planning involves designing activities relating to marketing objectives and the changing marketing environment.
  • Marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager
strategic marketing plan
Strategic marketing plan
  • A strategic marketing plan is the document that details the company`s objectives, situation analysis, marketing strategy and the elements of company`s marketing mix.
element of marketing plan
Element of marketing plan

Business mission statement

Situation or SWOT analysis

Objectives

Marketing strategy

Target market strategy

Marketing mix- P`s

Implementation evaluation control

1 mission
1. Mission
  • A statement of the firm business based on careful analysis of benefits sought by present and potential customer and an analysis of existing and anticipating environment.
  • Marketing Myopia
  • Strategic business unit
2 situation analysis
2. Situation analysis
  • S- Strength
  • W- Weakness
  • O- Opportunities
  • T- Threat
competitive advantage
Competitive Advantage

it is a set of unique features of a company and its products that are perceived by target market as significant and superior to the competition.

  • Cost competitive advantage:
  • Experience curve
  • Efficient labour
  • No frills goods and services
  • Government subsidies
  • Product design
  • Reengineering
  • Product innovation
  • New method of service delivery
slide10
Cont..
  • Niche competitive Advantage: seeks to target and effectively serve a single segment of the market. Eg. Indian coffee house
  • Building sustainable competitive advantage: that can`t be copied by competitor. Eg. Honda Activa
3 objective
3. Objective
  • It is a statement of what is to be accomplished through marketing activities.
  • Essentials:
  • Realistic
  • Measurable
  • Time specific
  • Compared to bench mark
4 strategic direction
4. Strategic direction
  • Strategic alternatives:
  • Ansoff`s Strategic Opportunity Matrix
  • Boston consulting group`s matrix
  • GE Matrix
boston consulting group s matrix
Boston consulting group`s matrix

-----------------Market share dominance-------------------

I

N

D

U

S

T

R

Y

G

R

O

W

T

H

slide15

Industry Attractiveness

High

Medium

Low

High

INVEST

INVEST

PROTECT

Competitive strength

Medium

INVEST

PROTECT

HARVEST

Low

PROTECT

HARVEST

DIVEST

5 describing the target market
5. Describing the target market
  • Target market: A market segment is a group of individuals or organizations that share one or more characteristics.
  • Market opportunity analysis (MOA): the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in the market segment, it may target
marketing mix
Marketing mix
  • It refers to unique blend of product, place (distribution), promotion and pricing strategies designed to produce mutually satisfying exchanges with a target market.
  • Product mix
  • Price mix
  • Place mix
  • Promotion mix
following up on the marketing plan
Following up on the marketing plan
  • Implementation
  • Evaluation and control
  • Marketing audit