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Copyright © 2010 by Nelson Education Ltd. PMBA 502 - Chapter 2 Strategic Planning and the Marketing Process with Duane Weaver
Copyright © 2010 by Nelson Education Ltd. 2-2 Chapter Objectives 1.Marketing Planning 2.Strategic vs. Tactical 3.Porters Five Forces Model 4.Mover Strategies 5.SWOT 6.Elements of Marketing Strategy 7.Other Tools
Copyright © 2010 by Nelson Education Ltd. 2-3 Marketing Planning: The Basics for Strategy and Tactics Planning: process of anticipating future events and conditions and of determining the best way to achieve organizational goals Continuous process that creates a blueprint for everyone in the organization Important for large and small companies
Copyright © 2010 by Nelson Education Ltd. 2-4 Strategic Planning versus Tactical Planning Strategic planning Process of determining an organizations primary objectives and adopting courses of action that will achieve these objectives Provides long-term direction for decision makers Tactical planning Process that guides the implementation of activities specified in the strategic plan Typically addresses shorter-term actions that focus on current or near-term activities
Copyright © 2010 by Nelson Education Ltd. Successful Strategies: Tools and Techniques Porters Five Forces Model Developed by strategy expert Michael Porter that identifies five competitive forces that influence planning strategies: The threat of new entrants The bargaining power of buyers The bargaining power of suppliers The threat of substitute products Rivalry among competitors 2-5
Copyright © 2010 by Nelson Education Ltd. 2-6
Copyright © 2010 by Nelson Education Ltd. 2-7 First Mover and Second Mover Strategies First mover strategy Theory advocating that the company that is first to offer a product in a marketplace will be the long-term market winner Second mover strategy Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace
Copyright © 2010 by Nelson Education Ltd. SWOT Analysis SWOT analysis Analysis that helps planners compare internal organizational strengths and weaknesses with external opportunities and threats 2-8 WHOSTRENGTHSWEAKNESSESOPPORTUNITIESTHREATSSTRATEGIES Us Competitor
Copyright © 2010 by Nelson Education Ltd. 2-9 SWOT Analysis
Copyright © 2010 by Nelson Education Ltd. 2-10 Elements of a Marketing Strategy Two basic elements: Target market and marketing mix variables
Copyright © 2010 by Nelson Education Ltd. 2-11 Other Tools for Marketing Planning and Analysis Business Portfolio Analysis An evaluation of a companys products and divisions to determine the strongest and weakest ones Strategic business units (SBUs) Key business units within diversified firms Each has its own managers, resources, objectives, and competitors Help focus the attention of managers Example: Hewlett-Packards iPaq unit for its handheld computeriPaq
Copyright © 2010 by Nelson Education Ltd. 2-12 BCG Analysis Developed by theDeveloped by the Boston Consulting GroupBoston Consulting Group A market share/market growth matrix that plots market share against market growth potentialA market share/market growth matrix that plots market share against market growth potential Other Tools for Marketing Planning and Analysis
Copyright © 2010 by Nelson Education Ltd. THANK YOU Lets use these concepts to help us analyze Burlingtons UPF Clothing case. Please make sure you are sitting in your teams and place your tent card with your name in front of you. 2-13
Strategy and Strategic Management
MODULE 12 STRATEGIC MANAGEMENT “Insights and hard work deliver results” What types of strategies are used by organizations? How are strategies formulated.
Appendix A © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole.
Chapter 2 © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole.
Copyright © 2006 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Part 1: Designing Customer- Oriented Marketing Strategies.
Chapter 2 Strategic Planning in Contemporary Marketing
Chapter 7 Strategic Management.
Chapter Two Strategic Planning and the Marketing Process
Strategy Formulation and Implementation
The Strategic and Operational Planning Process
MANAGEMENT RICHARD L. DAFT.
Copyright © 2010 by Nelson Education Ltd. Strategic Planning and the Marketing Process with Duane Weaver PMBA Chapter 2.
Strategic Planning and the Marketing Process
Planning and Goal Setting
Dr. Hurrem Yilmaz Slide 2-2 LINKING MARKETING AND CORPORATE STRATEGIES C HAPTER.
STRATEGIC MANAGEMENT. The Dynamics of Strategic Planning Strategy Strategy –large-scale action plan that sets the direction for an organization Strategic.
Why Study Strategic IT? Technology is no longer an afterthought in forming business strategy, but the actual cause and driver. IT can change the way businesses.
Chapter 2 PowerPoint slides Express version Instructor name
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