Strategic Planning For Product Development And Growth Product Camp

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Strategic Planning for Products

Strategic Planning for Products

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  • 1. Strategic Planning for Product Development and Growth De Verges B. Jones October 15, 2011 Orange County Product Camp
  • 2. Brands I have Managed
  • 3. More Brands
  • 4. The Ultimate Brand Champion! The Ultimate Global Product Pioneer!
  • 5. Steve Mastered the Communication Engagement Process!
  • 6. Results Brand Loyalty
  • 7. Strategic Planning for ProductDevelopment and Sustained Growth Just think about it!
  • 8. Strategic Planning for Product Development and Sustained GrowthHow much time do you spend on thinking about the future of you brands, their industry and segment?
  • 9. Strategic Planning for Product Development and Sustained GrowthDo you think about your product strategically every day?
  • 10. Strategic Planning for Product Development and Sustained GrowthDetached from the real world and marketplace?
  • 11. Strategic Planning for Product Development and Sustained GrowthDon’t under estimate the intelligence of your target audience!
  • 12. Strategic Planning for Product Development and Sustained GrowthIf you don’t force yourself and the organization to think strategically you may miss a major opportunity……………………
  • 13. Strategic Planning for Product Development and Sustained GrowthDon’t miss out on market, customer, technological opportunities………….
  • 14. Strategic Planning for ProductDevelopment and Sustained Growth What drains us from thinking strategically!
  • 15. Strategic Planning for Product Development and Sustained Growth• Consolidation• Globalization• Economic Trends• Political Unrest• Wars• Environmental concerns
  • 16. Strategic Planning for Product Development and Sustained Growth• Pricing• Competitive activity• Trade related issues• Distributor problems• Management• Customer Service• Operations• Finance• Manufacturing• Packaging• Advertising• Weather• Media• Consumers• RD• Time schedules
  • 17. Strategic Planning for ProductDevelopment and Sustained Growth Too focused on day to day tactics!
  • 18. Strategic Planning for Product Development and Sustained GrowthWhat are the causes and effects of not thinking strategically?
  • 19. Strategic Planning for Product Development and Sustained GrowthAre your products meeting future needs?
  • 20. Strategic Planning for Product Development and Sustained GrowthHyper strategic marketing is dangerous!We figured it out at the water cooler????????
  • 21. Strategic Planning for Product Development and Sustained Growth• Strategic Planning is a Process………………
  • 22. Strategic Planning for Product Development and Sustained GrowthKnow your numbers!Perform Segmentation!Challenge all of your objectives and strategies!
  • 23. Strategic Planning for ProductDevelopment and Sustained Growth
  • 24. Strategic Planning for Product Development and Sustained Growth• Typically a strategic plan is for a 3-5 years period. – Pepsi Strategic Plan Process • Strategic Plan (5 Years) • Annual Operating Plan • Mid-Year Review
  • 25. Strategic Planning for Product Development and Sustained GrowthIndustry ReviewMacro and Micro Economic FactorsIndustry Competitive ReviewUnderstand Industry/Category Want and NeedSegmentation AnalysisCompetitive ReviewWho are your target competitors?Pick the key competitor and have a rationale.How does your product address the category need and want?
  • 26. Strategic Planning for Product Development and Sustained GrowthProduct Strengths and Weakness (SWOT)Are product improvements needed?If they are needed how long will they last?MissionVisionBrand PositioningDistribution StrategyManufacturing SchemeAdvertising Strategy – Product Claims
  • 27. Strategic Planning for Product Development and Sustained GrowthLarge market share potentialFits well with our long-term product portfolioEasy to manufactureIs preemptiveHas compelling claimsHas high marginsPerformed well in researchIs a long-term playGood fit with distribution
  • 28. Strategic Planning for Product Development and Sustained GrowthNot aware of what competition is really doing?
  • 29. Strategic Planning for ProductDevelopment and Sustained Growth Lack of Product Leadership! I am talking about thought leadership.
  • 30. Strategic Planning for ProductDevelopment and Sustained Growth
  • 31. Strategic Planning for ProductDevelopment and Sustained Growth
  • 32. Strategic Planning for Product Development and Sustained GrowthSummary• Be a strategic champion in your company/department. – Emphasize collaboration – Total immersion – Make it an ongoing activity – Challenge each other thinking• Know your numbers.• Know your competition• Know the habits and behaviors of your consumers and customers.• Think outside your company and industry.• Create a mission ……. and a Vision.• Try to get away from your office!• Stick to your strategy – don’t change it unless it really needs changing.
  • 33. Strategic Planning for ProductDevelopment and Sustained Growth
  • 34. Strategic Planning for ProductDevelopment and Sustained Growth “ Just think about it!” De Verges B. Jones The Marketing Leadership Consulting Group Jones.dbj@gmail.com – 949-861-1916