1. Strategic Marketing Planning

2. Objectives Describe strategic planning process
Explain how organizational resources & opportunities affect planning process
Understand role of mission statement in strategic planning
Examine corporate, business-unit, and marketing strategies
Understand process of creating marketing plan
Describe marketing implementation process and major approaches to marketing implementation

3. Strategic Marketing Strategic Marketing :
Strategic marketing is the process of strategy development by regularly seeing the marketing environment and customer satisfaction.
It helps the organization to achieve competitive advantage and sustain it over a longer period of time.

4. Strategic Marketing The Strategic Marketing Process involves:
Analysis of the marketing situation,
Formulating a marketing strategy,
Market program development, and
Implementing and managing marketing strategy.

5. Strategic Marketing
Strategic Marketing Management is all about helping the organization to :
Develop a unique identity in the market,
Grow its businesses geographically, and
Serve the customers better than the competitors.

6. Components Of Strategic Planning
Source: From Marketing Strategy, 2nd Edition. Reprinted with permission of South-Western, a division of Thomson Learning: www .thomsonrights.com. Fax

7. Marketing Strategy
Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization.
Marketing strategy is a plan of action for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market.

8. Marketing Strategy Components of marketing strategy:
Selecting target markets
Creation of marketing mix.
Target market : means to whom the organization wants to sell its products.

9. Target market
A careful choice of the market segment has to be made by the organization. Because of :
Not all the market segments are profitable to an organization.
There are certain market segments which guarantee quick profits,
there are certain segments which may be having great potential but there may be high barriers to entry.

10. Effective Marketing Strategy
Effective Marketing Strategy should:
Reflects overall direction of organization.
Coordinated with firm’s functional areas.
Contributes to achievement of:
Marketing objectives
Organizational goals

11. Effective Marketing Strategy
For developing effective marketing strategies, the organization has to :
First decide the customer segments it wants to serve,
the customer needs and wants to satisfy, and
Establish the price that the customers are willing to pay for its products and services.

12. Marketing Plan Marketing Plan:
Marketing plan is a written document that specifies the details of the marketing activities to be performed and the programs to be undertaken to achieve the marketing goals.
It's the application of your strategy a roadmap that will guide you from one point to another.

13. Marketing Plan The process of preparing a marketing plan involves:
Summarizing the strategic situation,
Describing the target markets,
Setting objectives for the target markets,
Preparing a marketing program positioning strategy, and
Predicting sales and allocating budgets.

14. Marketing: Strategies vs Plans
Marketing strategy is shaped by business goals. business goals and marketing strategy should go hand-in-hand.
Marketing plan is how you are going to achieve those marketing goals.
Marketing Strategy > Marketing Plan > Implementation = Success

15. Marketing: Strategies vs Plans
Marketing strategy: consists of :The "what" has to be done. For Example :
Inform consumers about the product or service being offered.
Marketing plan consists of: The "how" to do it.
For Example :
Make marketing campaigns and promotions that will achieve the "what" in your strategy.
Implementation consists of: Taking action to achieve items identified in the marketing strategy and marketing plan.

16. Components Of The Marketing Plan

17. Marketing Objective
Marketing Objective is a statement of what is to be accomplished through marketing activities.

18. Marketing Objectives Terms
Product
Introduction
Improvement
Innovation
Sales Volume
Profitability
Market Share
Pricing
Distribution
Advertising
Employee Training

19. Marketing Objective

20. Marketing Objective Characteristics
Clear, simple terms
Measurable
Specify time frame
Consistent with unit and corporate strategy

21. Core Competencies
Core Competencies : are Things a firm does extremely well, which sometimes give it an advantage over its competition.

22. SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats

23. Customer Satisfaction
Strengths Advantages
Weaknesses Disadvantages
Opportunities
Threats

24. Four-Cell SWOT Matrix
Source: Adapted from Nigel F. Piercy, Market-Led Strategic Change. Copyright © 1992 Butterworth-Heinemann Ltd., p Reprinted with permission.

25. Developing Corporate, Business-Unit, and Marketing Strategies

26. Corporate Strategy
A strategy that determines the means for utilizing resources in the various functional areas to reach the organization’s goals.

27. Business-Unit Strategy
Strategic Business Unit (SBU)
A division, product line, or other profit center within the parent company.

28. Approaches To Marketing Implementation
Total Quality Management
Benchmarking
Empowerment

29. Total Quality Management
is a philosophy that uniform commitment to quality in all areas of the organization will promote a culture that meets customers’ perceptions of quality.

30. Benchmarking
Benchmarking: is Comparing the quality of the firm’s goods, services, or processes with that of its best-performing competitors.

31. Controlling Marketing Activities
Marketing Control Process:
Establishing performance standards
Evaluating actual performance by comparing it with established standards, and
Reducing the difference between desired and actual performance.
Taking corrective action if necessary .

32. The Marketing Control Process