Marketing Instructor Abdel Fatah Afifi MA&T, MBA, PCT, ACPA 2 nd Semester 2009/2010

Chapter 2 DEVELOPING SUCCESSFUL MARKETING AND CORPORATE STRATEGIES

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  Marketing planning: Implementing planning activities devoted to achieving marketing objectives

 Strategic planning: Process of determining an organization ’ s primary objectives and adopting courses action that will achieve those objectives  Tactical planning: Process that guides the implementation of activities specified in the strategic plan. Strategic Planning versus Tactical Planning

 Top management Greater proportions of their time engaged in planning Usually focus their planning activities on long- range strategic issues  Middle level managers Focus on operational planning; creating and implementing tactical plans  Supervisors Developing the specific programs to meet goals in their areas of responsibility Strategic Planning versus Tactical Planning

Steps in the Marketing Planning Process Corporate Level 1.Define the mission of organization 2.Determine organizational objectives 3.Assess resources & evaluate risks and opportunities Business Unit Level 1.Formulate strategy 2.Implement strategy through operating plans 3.Monitor & adapt strategies when necessary based on feedback

 Mission  Mission: the essential purpose that differentiates one company from others  The mission statement specifies the organization ’ s overall goals and operational scope and provides general guidelines for future management actions Defining the Mission of the Organization

 An organization lays out its basic objectives, or goals, in its mission statement  These objectives in turn guide development of supporting marketing objectives and plans  Objectives should state specific, quantitative intentions along with deadlines for achieving them Determine Organizational Objectives

Involves a back-and-forth assessment of strengths, risks, and available opportunities Assessing Organizational Resources and Evaluating Environmental Risks and Opportunities

Marketing strategy: a firm ’ s overall program for selecting and satisfying a target market A marketing strategy is aimed at satisfying consumers in the selected target market through a careful balance of the elements of the marketing mix – each of which represents a subset of the overall marketing strategy Formulating, Implementing, and Monitoring a Marketing Strategy

Successful Strategies: Tools and Techniques  All planning strategies have the goal of creating a sustainable competitive advantage for a firm.  An advantage where other companies cannot provide the same offering or value.

 Porter ’ s Five Forces Model

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 introducing new products that improve on the original offering to gain advantage in the marketplace. First Mover and Second Mover Strategies

 SWOT  SWOT is an acronym for strengths, weaknesses, opportunities, and threats SWOT analysis  A SWOT analysis is a method of studying organizational resources and capabilities to assess the firm ’ s strengths and weaknesses and scanning its environment to identify opportunities and threats

Levels in Organizations and How Marketing Links to Them

The strategic marketing Process

Ben & Jerry ’ s: a SWOT analysis to get it growing again

Elements of the marketing mix that comprise a cohesive marketing program

Organization of a typical manufacturing firm, showing a breakdown of the marketing