Chapt 2a- The Mktg Process

8/3/2019 Chapt 2a- The Mktg Process

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CHAPTER 2ACHAPTER 2ATHE MARKETING PROCESS:

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STRATEGY AND PLANNING



A strategy is a course of actionA strategy is a course of actionto achieve a specific objective.to achieve a specific objective.

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1.1 Strategies

Corporate Strategy:Corporate Strategy:

A guide to overall development of an

1. MARKETING STRATEGY

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Marketing Strategy:Marketing Strategy:

Will be developed within that frameworkand focuses on the organization’sactivities in relation to its market.



Deliberate Strategies:Deliberate Strategies:

Vision towards strategy formulation thatemphasizes the benefits of actingintentionally. Plan and think before you act.

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Emergent Strategies:Emergent Strategies:

Outcome of activities and behavior whichdevelop unconsciously but which fall into someconsistent pattern.



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Objectives Resources

MarketMarket--Oriented Strategic PlanningOriented Strategic Planning

Skills Opportunities

Profitand

Growth

©2000 Prentice Hall



1.2 Integrated Marketing

Could it be possible to make customerCould it be possible to make customerbelieve what you want him to believebelieve what you want him to believeabout the company, product, brand orabout the company, product, brand or


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service?service?Yes, it is possible to differentiate theproduct or service by way of an

effective integrated marketingcommunications plan.



1.2 Integrated Marketing (cont’d…)

Major tasks facing those responsible forMajor tasks facing those responsible forIMCIMC

- Who should receive messages


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-- What the messages should sayWhat the messages should say--What image of the organization/brand receivers should retainWhat image of the organization/brand receivers should retain

-- How much is to be invested in the processHow much is to be invested in the process

-- What actions receivers should takeWhat actions receivers should take

-- How the whole process should be controlledHow the whole process should be controlled-- Determine what was achievedDetermine what was achieved



2.1 Developing a Marketing Plan

The logical structure of a marketing planThe logical structure of a marketing plan

- Current analyses of the organization

2. MARKETING PLANNING

AND STRATEGY

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-- Development of a strategy (including

marketing mix)

- Appropriate methods for planimplementation

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2.2 Company Mission Statement

Definition:Definition:

The company mission statement is simply a


AND STRATEGY

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aiming to achieve through the conduct ofits business. It can even be thought of as astatement of the organization’s reason for

existence.



2.2 Company Mission Statement (cont’d...)

Factors influencing the development ofFactors influencing the development ofmission statement:mission statement:

- r r t lt r


AND STRATEGY

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- Organizational structure

- Product/market scope

- Customer needs

- Technology



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Limited number of goals

GOOD MISSION STATEMENTSGOOD MISSION STATEMENTS

Stress major policies & values

Define competitive scopes



2.3 Statement of objectives

Definition:Definition:Corporate objectivesCorporate objectives define

specific goals for the organization


AND STRATEGY

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as a whole and may be expressed in termsof profitability, returns on

investment, growth of asset base,

earnings per share and so on.



2.4 Situation Analysis

Situation analysis requires a thoroughSituation analysis requires a thoroughstudy of:study of:

-


AND STRATEGY

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competitors)- Market segmentation

- Internal environment (SWOT analysis)

- External environment (marketing audit oforganization’s marketing activities)

- Marketing information system



2.5 Strategy Development

Strategy development links corporate andStrategy development links corporate andmarket level plans. Decisions to make:market level plans. Decisions to make:

-


AND STRATEGY

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- Market specific plans (situation analysis as inputto the development of marketing objectives andmarket specific strategies)

- Development of marketing mix (need to ensurethat the product’s features, image, perceivedvalue and availability are appropriate)

- Marketing expenditure (budget)



3.1 The Internal Environment

Market audits help an organizationMarket audits help an organizationto understand the internalto understand the internal

3. MARKETING AUDIT15

Definition:Definition:

A marketing audit is simply a systematic analysisand evaluation of the organization’s marketingposition and performance.



3.2 Marketing Capabilities

Do organizations need to know about theirDo organizations need to know about theirparticular strengths and weaknesses?particular strengths and weaknesses?

Marketers ma want to know:


- How flexible/responsive is the organization ofthe marketing department?

- What is the company’s image/reputation?

-How strong are particular product lines?

- What is the extent of brand loyalty amongcustomers?



3.3 Performance evaluation

It involves comparing the actualIt involves comparing the actualachievements of marketing with what wasachievements of marketing with what wasexpected.expected.


Examples:- Are sales meeting forecasts?

- Is the message being communicated to target

group?-Is the product reaching consumers?



3.4 Competitive effectiveness

What should an organization use asWhat should an organization use astheir source of competitivetheir source of competitive


Examples:

- Greater value, lower price

- Greater benefits- Better service



4.1 Market Intelligence

Organizations should keep their eyesOrganizations should keep their eyesand ears open to what is going onand ears open to what is going on

4. ENVIRONMENTAL SCANNING19

Sources of market intelligence:

- Business and financial newspaper; magazines,trade journals, academic journals

- Attending conferences, exhibitions, courses andtrade fairs

- Making use of sales forces feedback; networking

and watching competitors



4.2 Competitor Intelligence

Sources of competitors intelligence:- Financial statements

4. ENVIRONMENTAL SCANNING20

- ommon customers an supp ers- Inspection of a competitor’s products

- The competitor’s former employees

- Job advertisements

Documents

Chapt 2a- The Mktg Process