1. Strategic Marketing Planning and Market Orientation
Chapter 1
Slides developed by:
Peter Yannopoulos
© 2006 by Nelson, a division of Thomson Canada Limited
4/23/2017

2. Marketing Strategy
Marketing strategy is about satisfying valuable customers in a superior way
© 2006 by Nelson, a division of Thomson Canada Limited

3. Marketing is about ….. Choosing a certain course of action and
rejecting other alternatives after careful
consideration
© 2006 by Nelson, a division of Thomson Canada Limited

4. The objective of marketing is…
To focus on those marketing
strategies that are more in line
with the organizational goals
and capabilities
© 2006 by Nelson, a division of Thomson Canada Limited

5. Components of Marketing Strategy
segment
strategy
Positioning
strategy
Promotion
strategy
Components
of Marketing
Strategy
Product
strategy
Distribution
strategy
Pricing
strategy
© 2006 by Nelson, a division of Thomson Canada Limited

6. The Strategic Marketing Planning
Product Strategy
Pricing Strategy
Distribution Strategy
Promotion Strategy
Implementation and Control
Strategic Positioning
Corporate Vision, Mission, and Goals
Situational Analysis
Market Segmentation and Target Marketing
Market Definition
Business-Level Strategy
Corporate Strategy
© 2006 by Nelson, a division of Thomson Canada Limited

7. Corporate Vision A mental image of a desirable
future state of an organization
© 2006 by Nelson, a division of Thomson Canada Limited

8. Properties of Effective Corporate Visions
Informed
Grounded
in reality
Effective
Corporate
Visions
Intent
to win
Shared
© 2006 by Nelson, a division of Thomson Canada Limited

9. Corporate Mission It identifies what the firm stands for
and its operating philosophy
It is a multi-dimensional concept that
consists of several components
© 2006 by Nelson, a division of Thomson Canada Limited

10. Components of Corporate Mission
It reflects the values of the organization
It reflects the true purpose of the business
It includes the policies and operational standards of the organization
It includes the firm’s competitive position and competitive advantage
© 2006 by Nelson, a division of Thomson Canada Limited

11. Competing on the Edge It involves taking action, observing
what happens, and adopting the
course of action that seems to work
best
© 2006 by Nelson, a division of Thomson Canada Limited

12. Deliberate Strategies
Strategies that are the result of a
formal planning process
© 2006 by Nelson, a division of Thomson Canada Limited

13. Emergent Strategies Strategies that occur from
responses to customer requests,
manufacturing problems,
competitive threats, and
technological advances
© 2006 by Nelson, a division of Thomson Canada Limited

14. Market Orientation Market Customer Orientation Competitor
Interfunctional
Coordination
Customer
Orientation
Competitor
Market
© 2006 by Nelson, a division of Thomson Canada Limited

15. Customer Orientation Intimate knowledge of customer needs
Strong customer commitment
Creation of superior customer value
Superior market sensing capabilities
Develop customer relationships with valuable customers
Segment markets and choose the most attractive segments
© 2006 by Nelson, a division of Thomson Canada Limited

16. Competitor Orientation
Know direct and indirect competitors
Monitor competitor activity
Regularly analyze competitor strategies
Benchmark performance against competitors
Respond rapidly to competitor actions
© 2006 by Nelson, a division of Thomson Canada Limited

17. Interfunctional Coordination
Regularly collect market information
Market information is shared among functions
All functions contribute to meeting customer needs
There is a strong coordination of all functions
© 2006 by Nelson, a division of Thomson Canada Limited

18. Some Strategic Advantages of Market Orientation
Encourages behaviour needed to create superior customer value
Helps design a superior marketing strategy to guide marketing actions
Outperform competitors
Create loyal customers
Charge higher prices
© 2006 by Nelson, a division of Thomson Canada Limited

19. Strategic Interdependence
The outcome of a firm’s strategy depends on the strategy it chooses but also on the strategy chosen by its rivals
Firms must be aware of the possible moves and countermoves of competition and adjust their marketing plans to reflect such moves
The process of strategic interaction forces firms to continually improve the quality of their products and lower prices
© 2006 by Nelson, a division of Thomson Canada Limited

20. Major Influences on Marketing Strategy Formulation
Triple Bottom Line
Globalization
Marketing Convergence
Major Influences on Marketing
Strategy
© 2006 by Nelson, a division of Thomson Canada Limited

21. Triple Bottom Line Triple Bottom Line Social Financial Environmental
© 2006 by Nelson, a division of Thomson Canada Limited