Strategic Elements of the Marketing Plan. What is strategic planning? Strategy = a plan: –To achieve a desired end, an anticipated outcome –A process.

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Strategic Elements of the Marketing Plan

What is strategic planning? Strategy = a plan: –To achieve a desired end, an anticipated outcome –A process that is disciplined and analytical Let’s climb a mountain.Hike to top of South Sister & back in one day.

How to approach strategic planning? Start with a vision…

Why plan? Enhanced efficiency of entries into foreign markets Foresee threats, challenges, opportunities Communicate a common direction; ensure everyone is working toward the same goal LZB Wrong LZB Right

The Strategic Planning Process Assessment (Situation Analysis) Foreign Market/Competitive Analysis - Internal Analysis Assessment (Situation Analysis) Foreign Market/Competitive Analysis - Internal Analysis Country Selection Select Target Market Product, Distribution, Promotion & Price decisions

Country-Market Selection (Assignment 2) Factors in country market selection The attractiveness of the market Strategic importance of the market Possible synergies offered by the market

Before making marketing mix decisions, we must understand our environments… External Environment: What’s working in our favor? What’s working against us? Internal Environment: What do we do well? What do we do not-so-well?

The is often called a… Internal Strengths & Weaknesses External Opportunities & Threats

Market/Competitive Analysis (Assignment 1) What forces will drive competition and determine profitability?

Internal Analysis (Assignment 2) SBU – Strategic Business Unit; Dean Foods Company: –Dairy Group, Branded Products Group and Specialty Foods Group Branded Products Group –Silk® soymilk, Horizon Organic® dairy products, juices and infant formula, Hershey’s® milks and milkshakes, Land O’Lakes® Dairy Ease® and Land O’Lakes® creamers, Marie’s® salad dressings

Internal Analysis (Assignment 2) Examine the readiness and capability of the SBU/firm to undertake strategic moves with its current resources. Resources: –Financial –Foreign market expertise –Overall strength of management in running the company –Product, price, distribution & promotion expertise in home country

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