Presentation on theme: "Developing Marketing Strategies and Plans"— Presentation transcript:
1 Developing Marketing Strategies and Plans Chapter 2
2 The Value Delivery Process Value creation and delivery sequence is divided into the following phases: 1) Assessing market opportunity and customer value 2) Choosing the value 3) Designing value 4) Delivering Value 5) Communicating Value 6) Grown and sustained
3 Value Chain is a tool to identify ways to create more customer value. The Value ChainValue Chain is a tool to identify ways to create more customer value.Primary activities of value chain: 1) Inbound logistics 2) Operations 3) Outbound logistics 4) Marketing 5) ServiceSupport Activities 1) Procurement 2) Technology Development 3) Human resource management 4) Firm infrastructure
4 Core CompetenciesCore competencies are the combination of pooled knowledge and technical capacities that allow a business to be competitive in the marketplace. Characteristics: 1) Source of competitive advantage and makes a significant contribution to perceived customer benefits. 2) Applications in wide variety of markets. 3) Difficult for competitors to imitate.
5 Holistic MarketingHolistic marketing sees it as as integrating the value exploration, value creation, and value delivery activities with the purpose of building long term, mutual satisfying relationships and co-prosperity among key stakeholders.
6 Marketing PlanThe Marketing plan is the central instrument for directing and coordinating the marketing effort. Levels of Marketing Plan Strategic Marketing plan lays out the target markets and the firms value proposition, based on an analysis of the best market opportunities. Tactical Marketing plan specifies the marketing tactics, including product features, promotion, merchandising, pricing sales channels and service.
7 Level of Marketing Plan Strategic Marketing PlanTarget MarketValue PropositionAnalysis of Market OpportunitiesTactical Marketing PlanProduct FeaturePromotionMerchandisingPricingSales ChannelsServiceLevel of Marketing Plan
8 The Strategic Planning, Implementation and Control Processes
9 Corporate and Division Strategic Planning Mission Statement: a formal summary of the aims and values of a company, organization, or individual. A clear, thoughtful mission statement provides a shred sense of purpose, and direct opportunity.
10 Good Mission Statement Major competitive spheresStress companies major policies and valuesFocus on a limited number of GoalsLong term viewShort, Memorable and MeaningfulGood Mission Statement
11 Establishing Strategies Business Units Assigning Resources of each SBU
12 Major Competency Sphere IndustryProduct and ApplicationCompetenceMarket SegmentVerticalGeography
13 Product oriented VS Market oriented definitions of Business CompanyProduct DefinitionMarket DefinitionRailwaysWe run trains.We are a people-and-goods mover.XeroxWe make copy equipment.We help improve office productivity.BPLCWe sell petrol and diesel.We supply energy.Paramount PicturesWe make movies.We market entertainment.Encyclopedia BritanniaWe sell encyclopedia.We distribute information.Blue StarWe make air conditioners.We provide climate control in homes and offices.
14 Characteristics of SBU Single business or a collection of related business.Own set of compotators.Manager is responsible for strategic planning and profit performance.
16 Assessing Growth Opportunities Intensive Growth:Product Market expansion gridMarket Penetration strategyMarket development strategyProduct development strategyIntegrative GrowthDiversification GrowthDownsizing and Divesting older bunisess
17 Corporate CultureShared experience, stories, beliefs and norms that characterize the organization
18 Marketing InnovationInnovation in marketing is critical. Imaginative ideas on strategy exist in many places within a company. Senior management should identify and encourage fresh ideas from three under- represented groups: 1) Employee with youthful or diverse perspective, 2) employees far removed from company headquarters and 3) employees new to the industry.
21 Internal Environment External Environment Strengths and Weakness Opportunities and Threats
22 Market Opportunity Analysis (MOA) Converging trends and introduce hybrid products or services that are new to the market.Make buying process more convenient and efficientMeet the need for information and adviceCustomize a product or service.