DEVELOPING MARKETING STRATEGIES & PLANS

CHAP 2

DEVELOPING MARKETING STRATEGIES & PLANSTHE VALUE DELIVERY PROCESS

3 Phases

Choosing the valueProviding the valueCommunicating the valueMarketing & Customer ValueTHE VALUE CHAIN

9 strategically relevant activities

PRIMARY ACTIVITIESInbound logisticsOperationsOutbound logisticsMarketingServiceSUPPORT ACTIVITIES

ProcurementTechnology developmentHR managementFirm InfrastructureCORE BUSINESS PROCESSES

The market sensing processThe new offering realization processThe customer acquisition processThe CRM processThe fulfillment management processCORE COMPETENCIES

3 Characteristics

It is a source of competitive advantageIt has application in a variety of marketsIt is difficult for competitors to imitateTHE CENTRAL ROLE OF STRATEGIC PLANNING

Priorities in strategic planning

Managing a companys business as investment portfolioAssessing each businesss strength- market growth rate and the cos positionEstablishing a strategy4 Organizational Levels

CorporateDivisionBusinessProductTHE MARKETING PLAN

Strategic

Tactical4 Planning activities

Defining the corporate missionEstablishing strategic business unit(SBU)Assigning resources to each SBUAssessing growth opportunitiesCORPORATE & DIVISION STRATEGIC PLANNING

BCG MATRIX1. Intensive growth(product-market expansion grid)ASSESSING GROWTH OPPERTUNITIES

INTEGRATIVE GROWTH

Vertical integration- forward, backward horizontal

Diversification- related, unrelated

Downsizing/divesting Organization/Organization Culture

Marketing InnovationBusiness unit strategic planning processBUSINESS UNIT STRATEGIC PLANNING

SWOT ANALYSIS

SWOT ANALYSISFrom most important to least important

Should be quantitative whenever possible

Should be realistic

Must be consistentGoal Formulation

SMART GOALSPorters Generic Strategies

Overall Cost leadership

Differentiation

FocusStrategic formulationStrategic Alliances

4 categories

Product or service

Promotional

Logistic

Pricing collaborationsPROGRAM FORMULATION & IMPLEMENTATION

FEEDBACK & CONTROLExecutive summary & table of contents

Marketing strategy

Financial projections

Implementations controlsPRODUCT PLANNING: The nature and contents of a marketing planTHE ROLE OF RESEARCH

THE ROLE OF RELATIONSHIPS

FROM MARKETING PLAN TO MARKETING ACTION