03-Strategic Planning

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Strategic Planning

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C. VIGNESHC. VIGNESHVIGNESH


Today’s Agenda What is Strategic Planning?

Steps in Strategic Planning

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3 Levels in an Organization Corporate Level

o (or SBU, Strategic Business Level)o e.g. Microsoft Corp.

Business unit-levelo e.g. Microsoft Office Group

Functional levelo Marketing Team for Microsoft Office

(Cross Functional Teams (among functional groups).

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Organizational Strategy The Business

Mission

Goals

Organizational Culture

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Mission Statement Mission: a statement of an organization’s scope,

identifying its customers, markets, technology, and value.

It should be:o Motivationalo Consumer-orientedo Realistico Reflective of Distinct Competencieso Simple

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Goals Goals or objectives measure how well the

organization’s mission is being accomplished. Businesses have different goals:

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• Profit

• Sales

• Market Share

• Quality

• Customer Satisfaction

• Employee Welfare

• Social Responsibility


Organizational Culture

is the set of values, ideas and attitudes that is learned and shared among the members of an organization.

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What is Strategic Planning?

BA 3365 – PRINCIPLES OF MARKETING

© VIGNESH 2006

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Strategic Plan = Road Map

Today:What business are we in? Who are our customers? What are their needs? What needs to be done?

Tomorrow:What business should we be in? Who will be our customers? What will be their

needs? What needs to be done?


The Strategic Planning Process

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Defining the company mission

Setting companyObjectives and goals

Defining the business portfolio

Planning, marketing and other

functional strategies

Corporate level

Business unit and Functional level


Setting Strategic Directions

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Growth Strategies: Where Do We Want to Go?

Two Approaches:Business Portfolio Analysis

Business portfolio analysis studies a firm’s business units as though they were a collection of separate investments.

Market – Product Analysis

Analyzing growth opportunities in terms of markets and products.


BCG Matrix – Business Portfolio Analysis

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QUESTION MARKS

STARS

CASH COWS DOGS


The Growth Matrix

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Products

Markets

Current New

Current

New

MarketPenetration

MarketDevelopment

Product Development

Diversification

- Market- Product Analysis


The Strategic

Marketing ProcessBA 3365 – PRINCIPLES

OF MARKETING ©

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Step 1: SWOT Analysis

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STRENGTHS WEAKNESSES

OPPORTUNITIES THREATS


SWOT Analysis Identifies trends in the firms’ industry. Analyzes firms’ competitors. Assesses the firms’ strengths. Researches the firms’ present and prospective

customers.

- is the foundation for building the marketing plan.

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Step 2: Market Product Focus Set Market and Product Goals

o Market Segmentation.• Segment – group of people with similar needs.• Will respond similarly to marketing action.

Select target segments. (Targeting) Position the product. (Positioning)

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Step 3: Marketing –Mix (4P’s)

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The Marketing Plan is the output of the planning phase in the

Strategic Marketing Process. is part of the Business Plan. is a roadmap for the marketing activities of an

organization for a specific period of time.

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Contents of a Marketing Plan Executive Summary Company Description Strategic Focus

o Mission, Goal, Core Competency. Situation (SWOT) Analysis (3C’s) Market-Product Focus

o Target Markets, Positioning. The Marketing-Mix

o 4 P’s. Financial Data and Projections.

o Demand forecasts, market status, etc. Organization Structure Implementation Plan Evaluation and Control

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Questions / Comments?

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Documents

03-Strategic Planning