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Developing marketing strategies and plans

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1 Developing marketing strategies and plans
LECTURE WEEK 2 Developing 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
Competition Demanding customers Choices for customers Transformation of the value concept Fragmented market segments

4 Sequences in the value delivery process
Figure 3.2 Repetitive sequences of the value delivery process Source: M. R. V. Goodman, Durham University

5 Nirmalya Kumar’s 3Vs marketing approach
Define the value segment Define the value proposition Define the value network

6 The generic value chain
Figure 3.3 The generic value chain Source: From M. E. Porter (1985) Competitive Advantage. Creating and Sustaining Superior Performance, New York: Free Press. Copyright © 1985 by Michael E. Porter. Reproduced with permission from The Free Press, a division of Simon & Schuster Adult Publishing Group

7 Core business processes
The market sensing process The new offering realisation process The customer acquisition process The customer relationship management process The fulfillment management process

8 Characteristics of core competencies
It is a source of competitive advantage It has applications in a wide variety of markets It 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 level Division level Business unit level Product 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 business Assigning resources to each SBU Assessing growth opportunities

15 Definitions of business
Product definition Market definition BP sells fuels Biersdorf sells cosmetics Renault sells automobiles Xerox makes copy equipment BP sells energy Biersdorf sells beauty Renault supplies transport vehicles Xerox improves office productivity

16 Major competitive spheres
Industry Geographic Product Vertical Competence Market segment

17 Characteristics of SBUs
It is a single business, or a collection of related businesses, that can be planned separately from the rest It has its own set of competitors. It has a manager responsible for strategic planning and profit performance

18 Figure 3.6 The strategic planning gap

19 Strategies for managing change
Avoid the innovation title Use the buddy system Set the metrics in advance Aim for quick hits first Get data to back up your gut feelings

20 Figure 3.8 The business unit strategic-planning process

21 SWOT Analysis Figure 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?

23 Figure 3.10 Opportunity and threat matrices

24 Goal formulation and the MBO
Arrange objectives hierarchically from most to least important Make goals quantitative if possible Make goals realistic Make goals consistent

25 Porter’s generic strategies
Overall cost leadership Differentiation Focus

26 Forms of strategic alliances
Product or service alliance Promotional alliance Logistics alliance Pricing collaborations

27 Elements of strategy Strategy Shared values Structure Staff Systems
Skills Style

28 Contents of a marketing plan
Executive summary and table of contents Situation analysis Marketing strategy Financial projections Implementation controls For 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 summary Contextual analysis Customer analysis Competition analysis Company strategic approach Channel analysis (distribution and marketing communications) Cash analysis Marketing management implementation and control

30 Kotler on strategy In 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?

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