Presentation on theme: "Developing marketing strategies and plans"— Presentation transcript:
1 Developing marketing strategies and plans LECTURE WEEK 2Developing marketing strategies and plans
2 Lecture questions How does marketing affect customer value? How is corporate and divisional strategic planning carried out?How is business unit strategic planning carried out?What is involved in developing a marketing plan?
3 Transitioning from sellers’ to buyers’ markets CompetitionDemanding customersChoices for customersTransformation of the value conceptFragmented market segments
4 Sequences in the value delivery process Figure 3.2 Repetitive sequences of the value delivery processSource: M. R. V. Goodman, Durham University
5 Nirmalya Kumar’s 3Vs marketing approach Define the value segmentDefine the value propositionDefine the value network
7 Core business processes The market sensing processThe new offering realisation processThe customer acquisition processThe customer relationship management processThe fulfillment management process
8 Characteristics of core competencies It is a source of competitive advantageIt has applications in a wide variety of marketsIt is difficult for competitors to imitate
9 Steps in the business realignment process (Re)define the business concept(Re)shaping the business scope(Re)positioning the brand identity
10 Questions answered by the holistic marketing framework How can we identify new value opportunities?How can we efficiently create more promising new value offerings?How can we use capabilities and infrastructure to deliver the new value offerings more efficiently?
11 Organisational levels Corporate levelDivision levelBusiness unit levelProduct level
12 What is a marketing plan? The marketing plan is the central instrument for directing and coordinating the marketing effort.
13 Figure 3.5 The strategic planning, implementation and control processes
14 Planning activities Defining the corporate mission Defining the businessAssigning resources to each SBUAssessing growth opportunities
15 Definitions of business Product definitionMarket definitionBP sells fuelsBiersdorf sells cosmeticsRenault sells automobilesXerox makes copy equipmentBP sells energyBiersdorf sells beautyRenault supplies transport vehiclesXerox improves office productivity
16 Major competitive spheres IndustryGeographicProductVerticalCompetenceMarket segment
17 Characteristics of SBUs It is a single business, or a collection of related businesses, that can be planned separately from the restIt has its own set of competitors.It has a manager responsible for strategic planning and profit performance
19 Strategies for managing change Avoid the innovation titleUse the buddy systemSet the metrics in advanceAim for quick hits firstGet data to back up your gut feelings
20 Figure 3.8 The business unit strategic-planning process
21 SWOT AnalysisFigure 3.9 Using SWOT analysis to monitor the internal and external position of an organisation
22 Market opportunity analysis Can we articulate the benefits to a target audience?Can we locate the target market and reach them with cost-effective media and trade channels?Does our company possess or have access to the critical capabilities and resources we need?Can we deliver the benefits better than the competition?Will the rate of return meet or exceed our expectations?
26 Forms of strategic alliances Product or service alliancePromotional allianceLogistics alliancePricing collaborations
27 Elements of strategy Strategy Shared values Structure Staff Systems SkillsStyle
28 Contents of a marketing plan Executive summary and table of contentsSituation analysisMarketing strategyFinancial projectionsImplementation controlsFor some tips on how to write a marketing plan go to:
29 Contents of a marketing plan The Euromart marketing plan is based on an approach inspired by Professors Kashani and Turpin of the IMD in Switzerland:Executive summaryContextual analysisCustomer analysisCompetition analysisCompany strategic approachChannel analysis (distribution and marketing communications)Cash analysisMarketing management implementation and control
30 Kotler on strategyIn this video clip, Philip Kotler discusses some key strategic marketing issues for practitioners
31 Recap: can you explain? How does marketing affect customer value? How is corporate and divisional strategic planning carried out?How is business unit strategic planning carried out?What is involved in developing a marketing plan?