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TOP 10 Learning Concepts Ch 2: Developing Marketing Strategies and Plans Sue Ann P. Silubrico March 31, 2011 http://suesilubrico.blogspot.com/ Reference : Philip Kotler’s Marketing Management 13 th Edition

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Chapter 2 Developing Marketing strategies and Plans

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  • 1. TOP 10 Learning ConceptsCh 2: Developing Marketing Strategies and PlansSue Ann P. SilubricoMarch 31, 2011Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/

2. Ch 2: Developing Marketing Strategies and PlansDevelopingMarketingStrategies PlansReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 2 3. Outline: TOP 10 Learning Concepts Ch 2: Developing Marketing Strategies and Plans1. What dimension defines business? 2. What are Porters Generic Strategies?3.What are the three Vs Approach to Marketing? 4. What are the Major Competitive Spheres? 5. What are the levels of Marketing Plan? Reference : Philip Kotlers Marketing Management 13th Edition 3 http://suesilubrico.blogspot.com/ 4. Outline:TOP 10 Learning ConceptsCh 2: Developing Marketing Strategiesand Plans6. What are Marketing Alliances?7. What is Holistic Marketing Framework? 8. Why Strategic Planning is important?9. What are the Business unit Strategic Planning process?10. What are the Marketing plans?Reference : Philip Kotlers Marketing Management 13th Edition4http://suesilubrico.blogspot.com/ 5. Concept 1: What Dimensions Define aBusiness? Customer GroupsCustomer Needs Technology Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/5 6. Concept Example Who are the Customer group?We are the group, retailerCustomers Seeks to attract and satisfy Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/6 7. Concept ExampleWhat are the Customer needs? Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/ 7 8. Concept ExampleService: Car broke down Towed FixingFixedReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/8 9. Concept ExampleGoods:Coffee bean Grind coffee bean filteredPourCoffeeReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 9 10. Concept ExampleTechnology:Makes your life easier Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/10 11. Concept 2: Porters Generic StrategiesOverall cost LeadershipDifferentiationFocus Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/11 12. Concept ExampleWhat is Overall Cost Leadership? Company seeks to gain greater market share To increase their sales To have lower prices than the competition Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/12 13. Concept ExampleWhat is Differentiation? Product or service that offers unique attributes.Valued by customersCompetitive advantage based on products or service.Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/ 13 14. Concept Example What is Focus? Concentrates on meeting specialized needs of itscustomers Focus on specific customers or markets Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/14 15. Concept ExampleFocus:Dell Computers strategy is highly focused around the efficient sale and manufacture of computers andcomputer peripheraldevices Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/15 16. Concept 3: What are the 3 VsApproach to MarketingDefine the value Segment Define the value PropositionDefine the valueNetwork Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/16 17. Concept ExampleValue Segment: Customer value brand or service by: Quality Advertisements Location Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/17 18. Concept ExampleValue Proposition Target customers benefit from patronizingcompanys product: Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/18 19. Concept Example Why do customers buy from Starbucks? Starbucks Value Propositions: To Create Experience around consumption of coffee To Create Customer Intimacy To create an Ambience, the need for people to get together.Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/19 20. Concept ExampleDefine the Value of Network Network of people and companies thatcontribute to the increase in a products value Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/20 21. Concept ExampleHow does Starbucks do theirValue Network? Advertising Word of Mouth Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/21 22. Concept ExampleHow does Starbucks do theirValue Network? Excellent Service Quality Products Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/22 23. Concept 4: What are the MajorCompetitive Sphere? Industry Geographical ProductsVerticalCompetence Channels MarketSegment Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/23 24. Concept ExampleConcept 4: Starbucks is aninternational coffee and coffee chainIndustryReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/24 25. Concept ExampleConcept 4: Starbucks serves peopleworldwide with high quality products.Products Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/25 26. Concept ExampleConcept 4: What are the strongcompetitve advantage of Starbucks? Product VarietyHigh-Quality Products Competence Customer ServiceReference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/ 26 27. Concept ExampleConcept 4: Who are the target marketof Starbucks? Family MarketFriendsSegment StudentsEmployees Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/27 28. Concept ExampleConcept 4: Starbucks verticalchannels Coffee Farm DistributedVertical ChannelsProcessed Finished productExportedDelivered Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/28 29. Concept ExampleConcept 4:Currently Starbucks ispresent in more than 55 countries Geographical Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/29 30. Concept 5:What are the levelsof Marketing Plan? StrategicTacticalIdentify target Lays Marketing Markets and Plans Value proposition Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/30 31. Concept ExampleConcept 5: Marketing Plan is an instrumentfor directing and coordinating marketingeffort Strategic:Nikes Target Markets are:AthletesFitness EnthusiastsReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/31 32. Concept ExampleConcept 5: Marketing Plan is an instrumentfor directing and coordinating marketingeffort Tactical: MerchandisingPromotion Product features PricingReference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/ 32 33. Concept 6:What are MarketingAlliances? Product or Services Alliances Promotional Alliances Logistics Alliances Pricing CollaborationsReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/33 34. Concept ExampleProducts and ServicesAlliances Starbucks is extending its brand. Starbucks partnered with PepsiCo Inc. To produce a bottled version of Starbucks Frappuccino. Another partnership with Dryers To produce Starbucks branded ice cream products.Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/ 34 35. Concept ExamplePromotional Alliances: Company agrees tocarry promotion for another companysproduct or service. Mc Donalds teamed up with Disney for 10 yearsto offer products related to Disney films as partof its happy meals.Bee Movie Ice Age Movie Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/35 36. Concept ExampleLogistic Alliances: One company offerslogistical services for anothercompanys products. Abbotts laboratories warehouses and delivers3Ms Medical and surgical products.Medicalwarehouse supplies Deliveries Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/36 37. Concept ExamplePricing Collaborations: One or morecompanies join in special pricingcollaborations.Hotels and rental carcompaniesoften offermutual discounts Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/37 38. Concept 7: What are theHolistic Marketing FrameworkReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/38 39. Concept ExampleConcept 7: Holistic Marketing Framework akey of creating long term relationships amongstakeholders Value Exploration Value DeliveryValue Creation Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 39 40. Concept 8: Why StrategicPlanning is important?Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/40 41. Concept ExampleConcept 8: Why StrategicPlanning is important? It helps to response effectively with customerneeds by:Planning ImplementingControlling Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/41 42. Concept 9:What are BusinessUnit Strategic Planning ProcessReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/42 43. Concept ExampleBusiness Mission: Needs to define itsspecificmissionwithin the company Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/43 44. Concept ExampleSWOT Analysis:Overall evaluation of companys Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/43 45. Concept Example Goal Formulation: Develop specific goal for the planning period Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/45 46. Concept Example Strategic Formulation: Business must design strategy for achieving its goals. Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/46 47. Concept Example Program Formulation: Must Plan program to strengthen Research & Development Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/47 48. Concept Example Implementation: Even great marketing strategy can be sabotaged by poor implementationReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/48 49. Concept ExampleFeedback and Control: Do the right thing to be effectiveThan To do things right to be efficient - Peter DuckerReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/49 50. Concept 10:What areMarketing Plans?Executive SummaryTable of ContentsSituation AnalysisMarketing StrategyFinancial ProjectionsImplementation Controls Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/50 51. Concept ExampleConcept 10: ExecutiveSummary Open with a brief summary of main goals and recommendation Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/51 52. Concept ExampleConcept 10: SituationAnalysis How do we define the market? How big is it? How fast is it growing? What are the relevance trend? What are the products offering? What critical issue do we face? Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/52 53. Concept ExampleConcept 10: MarketingStrategy Managers defines: Mission Marketing Financial objectivesReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/53 54. Concept ExampleConcept 10: FinancialProjections Includes: Sales Forecast Expense forecast Break even analysisReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/54 55. Concept ExampleConcept 10: ImplementationControlIt spells out the goalsand budget of eachmonth or quarterReference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/54 56. Summary:1. What dimension defines business?2. What are Porters Generic Strategies?3. What are the three Vs Approach to Marketing?4. What are the Major Competitive Spheres?5. What are the levels of Marketing Plan? Reference : Philip Kotlers Marketing Management 13th Editionhttp://suesilubrico.blogspot.com/56 57. Summary: 6. What are Marketing Alliances? 7. What is Holistic Marketing Framework? 8. Why Strategic Planning is important? 9. What are the Business unit StrategicPlanning process? 10. What are the Marketing plans?Reference : Philip Kotlers Marketing Management 13th Edition http://suesilubrico.blogspot.com/57 58. TOP 10 Learning ConceptsCh 2: Developing Marketing Strategies and PlansSue Ann P. SilubricoMarch 31, 2011Reference : Philip Kotlers Marketing Management 13th Edition 58 http://suesilubrico.blogspot.com/