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8/3/2019 MM Chapter 2
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Developing Marketing
Strategies and Plans
Marketing Management, 13thed
2
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Chapter Questions
How does marketing affect customervalue?
How is strategic planning carried out atdifferent levels of the organization?
What does a marketing plan include?
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3 Vs Approach to Marketing
Define the value segment(needs and wants)
Define the value proposition(benefits)
Define the value network todeliver promise services.
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What is the Value Chain?
The value chain is a tool for identifyingand creating more customer value
because every firm is a synthesis of
primary and support activitiesperformed to design, produce, market,
deliver, and support its product.
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Core Business Processes
Market-sensing process (marketing intelligence).
New-offering realization process (research anddevelopment).
Customer acquisition process (defining targetmarkets and consumers).
Customer relationship management process(deeper understanding of consumers).
Fulfillment management process (receiving,shipping, and collecting payments).
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Characteristics of Core Competencies
A source of competitive advantage(technical, production expertise, distribution,financial strength, etc.)
Applications in a wide variety of markets Difficult to imitate
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Becoming a Vigilant Organization
Can we learn from the past?
How should the present be evaluated?
What do we envision for the future?
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What is Holistic Marketing?
Holistic marketing sees itself asintegrating the value exploration, valuecreation, and value delivery activities
with the purpose of building long-term,mutually satisfying relationships and
coprosperity among key stakeholders.
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What is a Marketing Plan?
A marketing plan is the centralinstrument for directing and
coordinating the marketing effort.
It operates at astrategic and tactical level.
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Levels of a Marketing Plan
Strategic
Target marketingdecisions
Value proposition
Analysis ofmarketingopportunities
Tactical
Product features
Promotion Merchandising
Pricing
Sales channels
Service
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Corporate Headquarters
Planning Activities
Define the corporate mission
Establish strategic business units
(SBUs) Assign resources to each SBU
Assess growth opportunities
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Good Mission Statements
Focus on a limited number of goals
Stress major policies and values
Define major competitive spheres Take a long-term view
Short, memorable, meaningful
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Major Competitive Spheres
Industry (consumer(s) and/or industrial(s) Products (range) Competence (technological, production,
etc.) Market segment (type of market or
customer) Vertical channels (number of channel
levels, from raw materials to final product and
distribution) Geographic (range of regions, countries, or
country groups)
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Motorola
The purpose of Motorola is to honorablyserve the needs of the community by providing
products and services of superior quality at afair price to our customers; to do this so as toearn an adequate profit which is required forthe total enterprise to grow; and by doing so,
provide the opportunity for our employees andshareholders to achieve their personalobjectives.
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Product Orientation vs. Market Orientation
Company Product Market
Missouri-PacificRailroad
We run a railroad We are a people-and-goods mover
Xerox We make copyingequipment
We improve officeproductivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertainpeople
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Dimensions that Define a Business
Customer groups
Customer needs
Technology
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Characteristics of SBUs
It is a single business or collection ofrelated businesses
It has its own set of competitors
It has a leader responsible for strategicplanning and profitability
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What is Corporate Culture?
Corporate culture is the sharedexperiences, stories, beliefs, and norms
that characterize an organization.
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Tactics for Managing Change
Avoid the innovation title for the team
Use the buddy system
Set the metrics in advance Aim for quick hits first
Get data to back up your gut
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SWOT Analysis
Strengths
Weaknesses
Opportunities Threats
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Market Opportunity Analysis (MOA)
Can the benefits involved in the opportunitybe articulated convincingly to a defined targetmarket?
Can the target market be located andreached with cost-effective media and tradechannels?
Does the company possess or have accessto the critical capabilities and resourcesneeded to deliver the customer benefits?
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Market Opportunity Analysis (MOA)(cont.)
Can the company deliver the benefitsbetter than any actual or potentialcompetitors?
Will the financial rate of return meet orexceed the companys required
threshold for investment?
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Goal Formulation and MBO
Units objectives must be hierarchical
Objectives should be quantitative
Goals should be realistic Objectives must be consistent
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Porters Generic Strategies
Overall Cost Leadershiplowestproduction and distribution costs to be
able to price lower than competitors andto obtain larger market share.
Differentiationuniquely achievingsuperior performance in an important
customer benefit area.
Focuson one or more narrow marketsegments
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Categories of MarketingAlliances
Product or Service Alliancesjointlymarket complementary products
Promotional Alliancespromotion
of another companys products
Logistics Allianceslogistical servicesfor another companys products.
Pricing Collaborationsone or morecompanies join in special price reduction.
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Ansoffs Product-Market ExpansionGrid
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The Business Unit StrategicPlanning Process
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Marketing Plan Contents
Executive summary Table of contents
Situation analysis Marketing strategy Financial projections
Implementation controls
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Evaluating a Marketing Plan
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?