Chap 20
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  • For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Chapter One Marketing’s Role in the Global Economy
  • For use only with Perreault and McCarthy texts. © 2002 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Chapter One Marketing’s Role in the Global Economy

Chap 20 Chap 20 Presentation Transcript

  • McGraw-Hill/Irwin ©2007 by the McGraw-Hill Companies, Inc. All rights reserved. Strategic Marketing Planning
    • Planning and the management process
    • Similarities and differences among mission, objectives, strategies, and tactics
    • Differences between company planning and strategic marketing planning
    • The steps comprising strategic marketing planning
    • The purpose and contents of an annual marketing plan
    • Similarities and differences as well as weaknesses strengths across several models used in strategic planning
    Chapter Goals
  • Planning Matching an organization’s resources with its marketing opportunities over the long-run Limited amount of time in which a firm’s resources coincide with a particular market opportunity Strategic Planning Strategic Window
  • Planning as Part of Management
  • Mission An organization’s mission states what customers it serves, what needs it satisfies, what types of products it offers, the boundaries for activities Stated in customer-oriented terms reflecting the needs the firm is striving to satisfy and the benefits it is providing
  • Objectives and Goals Clear and Specific Ambitious but Realistic In Writing Consistent Quantitatively measurable Time Period Desired Outcomes
  • Strategies Broad plan of action by which an organization intends to reach its objectives and fulfill its mission Strategies
  • Tactics Means by which a strategy is implemented Tactics
  • Key Questions Mission: What business are we in? Objectives: What do we want to accomplish? Strategies: Generally How are we going to get the job done? Tactics: Specifically How are we going to get the job done?
  • Three Levels of Organizational Planning
  • Annual Marketing Plan
    • Executive Summary
    • Situation Analysis
    • Objectives
    • Strategies
    • Tactics
    • Financial Schedules
    • Timetable
    • Evaluation Procedures
  • Strategic Business Unit (SBU) Separately defined business Own competitors Own team profit responsibility Distinct mission
  • Product-Market Growth Matrix
  • The BCG Matrix
  • The GE Business Screen
  • Assessment of the Planning Model Limitations Oversimplification Choosing strategy without relevant information Model overrides manager’s decisions Benefits Careful consistent assessment Straightforward classification Points to attractive opportunities
  • Key Terms and Concepts
    • Management
    • Planning
    • Strategic planning
    • Strategic window
    • Mission
    • Objective
    • Strategy
    • Tactic
    • Strategic company planning
    • Situation analysis
    • Organizational strategies
    • Strategic marketing planning
    • SWOT analysis
    • Positioning
    • Differential advantage
  • Key Terms and Concepts
    • Market
    • Target market
    • Marketing mix
    • Annual marketing plan
    • Strategic business unit
    • Product-market growth matrix
    • Cannibalization
    • BCG matrix
    • GE business screen