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Developing Marketing Strategies and Plans
2
Marketing ManagementA South Asian Perspective, 13th ed
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-2
Market Opportunity Analysis (MOA)
• Can the benefits involved in the opportunity be articulated convincingly to a defined target market?
• Can the target market be located and reached with cost-effective media and trade channels?
• Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits?
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-3
Market Opportunity Analysis (MOA) (cont.)
• Can the company deliver the benefits better than any actual or potential competitors?
• Will the financial rate of return meet or exceed the company’s required threshold for investment?
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-4
Figure 2.4 The Strategic Planning, Implementation,
and Control Processes
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-5
Corporate Headquarters’ Planning Activities
• Define the corporate mission
• Establish strategic business units (SBUs)
• Assign resources to each SBU
• Assess growth opportunities
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-6
Good Mission Statements
Focus on limited number of goalsFocus on limited number of goals
Stress major policies and valuesStress major policies and values
Define major competitive spheresDefine major competitive spheres
Take a long-term viewTake a long-term view
Short, memorable, meaningfulShort, memorable, meaningful
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-7
Infosys Technologies Limited
“To achieve our objectives in an environmentof fairness, honesty, and courtesy towardsour clients, employees, vendors, and societyat large.”
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-8
eBay
“We help people trade anything on earth.We will continue to enhance the onlinetrading experiences of all—collectors, dealers, small businesses, unique itemseekers, bargain hunters, opportunitysellers, and browsers.”
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-9
Characteristics of SBUs
• It is a single business or collection of related businesses
• It has its own set of competitors
• It has a leader responsible for strategic planning and profitability
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-10
Figure 2.7 The Business Unit Strategic Planning Process
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-11
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-12
What is a Marketing Plan?
A marketing plan is the central instrument for directing and
coordinating the marketing effort.
It operates at a strategic and tactical level.
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-13
Levels of a Marketing Plan
• Strategic• Target marketing
decisions• Value proposition• Analysis of
marketing opportunities
• Tactical• Product features• Promotion• Merchandising• Pricing• Sales channels• Service
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-14
Marketing Plan Contents
Executive summary Table of contents Situation analysis Marketing strategy Financial projections Implementation controls
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-15
Evaluating a Marketing Plan
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-16
Strategies Suggested by Ansoff’s Product-Market Expansion Grid
Present Product New Product
Present Market
Market Penetration : Amul selling milk to existing customer base.
Product Development : Amul Develops flavored Yogurt.
New Market
Market Development : Amul enters the markets of Mauritius, UAE, Australia and Singapore.
Diversification : Amul enters Pizza, Ice cream and Body warmers clothes business.
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-17
Value Creation and Delivery Process
•Choose the Value : Customer Segmentation, Market Selection, Value positioning
•Provide the Value : Product Development, Service Development, Pricing, Sourcing and Making, Distributing and Servicing
•Communicating the Value : Sales force, Sales promotion, Advertising
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-18
What is the Value Chain?
The value chain is a tool for identifying ways to create more customer value
because every firm is a blend of primary and support activities
performed to design, produce, market, deliver, and support its product.
There are nine strategically relevant activities – five primary and four
support activities.
Strategic Value Chain ActivitiesPrimary Activities : • Inbound Logistics : Bringing material into the Business
•Operations : Converting them into final products
•Outbound Logistics : Making them available for final customers
•Marketing and Sales : Promoting and selling.•Service : Providing necessary promised service.
Strategic Value Chain Activities
Secondary Activities : •Firm Infrastructure : Necessary infrastructure and resources•Human Resource : Qualified and experienced staff•Technology Development : Necessary environment for R & D•Procurement : Proper input in the organization.
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-21
Table 2.3 Product Orientation vs. Market Orientation
Company Product Market
Xerox We make copying equipment
We improve office productivity
Columbia Pictures
We make movies We entertain people
Encyclopedia Britannica
We sell encyclopedias We distribute information
Carrier We make air conditioners and furnaces
We provide climate control inside homes
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-22
Core Business Processes
• Market-sensing process
• New-offering realization process
• Customer acquisition process
• Customer relationship management process
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-23
Characteristics of Core Competencies
• A source of competitive advantage
• Applications in a wide variety of markets
• Difficult to imitate
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-24
What is Holistic Marketing?
Holistic marketing sees itself as integrating the value exploration, value creation, and value delivery
activities with the purpose of building long-term, mutually satisfying
relationships and prosperity among key stakeholders.
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-25
Goal Formulation and MBO
• Unit’s objectives must be hierarchical
• Objectives should be quantitative
• Goals should be realistic
• Objectives must be consistent
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-26
What is Corporate Culture?
Corporate culture is the shared experiences, stories, beliefs, and norms
that characterize an organization.
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-27
Porter’s Generic Strategies
Overall Cost Leadership
Differentiation
Focus
Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-28
Categories of Marketing Alliances
Product or Service AlliancesProduct or Service Alliances
Promotional AlliancesPromotional Alliances
Logistics AlliancesLogistics Alliances
Pricing CollaborationsPricing Collaborations