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  • Mission statements may be developed at the SBU level in order to make sense, especially for large organization with diverse business interests e.g. NTUC INCOME and NTUC Fairprice
  • Have a unique business mission, independent of other SBUs Have a clearly definable set of competitors Be able to carry out integrative planning relatively independent of other SBUs Be able to manage resources in all areas Be large enough to justify senior management attention, but small enough to serve as a useful focus for resource allocation
  • A-Mei, the Taiwanese pop diva sang the Taiwanese anthem at President Chen Shui-bian’s May inauguaration (2000) and raise a political storm. China withdrew her Sprite soft drink ads from TV, newspapers and billboards across the country, almost jeopardising her contract with Coca-cola. Spokesman for Coca-cola was quoted as saying that the company was informed of the withdrawal a day before A-Mei even performed at the inauguration. Puyuma pop star, A-Mei, in a recent Sprite commercial, dances and sings in the old colonial powers quarter of Shanghai. She sings a chorus of "give me true feeling" in Mandarin to promote the product of an American multinational corporation. This ad and her music videos are screened on Hong Kong's TVB, MTV, and on channels of Rupert Murdoch's Star TV Group. Bit 2 In an August 1999 article "China's crazy about A-Mei" by New York Times News Service reporter Seth Faison, A-Mei is described as being "Taiwanese" and No. 1 in China. Feth describes A-Mei's sell out concerts in Beijing as "overpowering any consideration of the current battle over" Taiwan's sovereignty. This is in reference to the latest spat between Taiwan and the PRC due to President Lee's "state to state" relations comments. Bit 3 The shifting images of A-Mei (Chinese name Chuang Hui-mei) are quite market responsive. She has been called a "pop diva", Taiwan's Mariah Carey and other related labels. She is a superstar by regional commercial criteria, her 5 CDs released thus far having sold millions of copies along with concert videos and VCDs. Her brand of cultural products has become well known throughout East Asia. She has large advertising contracts with Fuji Film and Sprite. In general, she's done well commercially.

marketing plan marketing plan Presentation Transcript

  • Corporate Strategic Planning Asia-Pacific Marketing Federation Certified Professional Marketer Copyright Marketing Institute of Singapore
  • Outline
    • Introduction
    • Meaning & Role of Strategic Planning
    • Corporate Mission
    • Strategic Business Units (SBU)
    • Marketing Audit
  • Strategic Planning
    • … is the managerial process of developing and maintaining a strategic fit between the organization's objectives and resources and its changing market opportunities.
    Org Objectives Resources Changing Environment Strategic Fit
  • The Role of Strategy Corporate Mission & Objectives
    • Strategy:
    • Corporate
    • Business
    • Functional
    Operating Plans
  • Sun Tze on Strategy
    • “ Know your enemy, know yourself, and your victory will not be threatened. Know the terrain, know the weather, and your victory will be complete.”
  • Strategic Marketing
    • “ Marketing Strategy is a series of integrated actions leading to a sustainable competitive advantage.”
    • John Scully
  • Corporate Mission
    • Broad purposes of the organization
    • General criteria for assessing the long-term organizational effectiveness
    • Driven by heritage & environment
    • Mission statements are increasingly being developed at the SBU level as well
  • Examples of Corporate Mission
    • SINGAPORE AIRLINES is engaged in air transportation and related businesses. It operates world-wide as the flag carrier of the Republic of Singapore, aiming to provide services of the highest quality at reasonable prices for customers and a profit for the company
  • Examples of Corporate Mission (cont’d)
    • MARRIOTT’S Mission Statement:
    • We are committed to being the best lodging and food service company in the world, by treating employees in ways that create extraordinary customer service and shareholder value
  • Corporate Culture
    • The most abstract level of managerial thinking
    • How do you define culture?
    • What is the significance of culture to an organization?
    • How does marketing affect culture in the organization?
  • Corporate Objectives & Goals
    • An objective is a long-range purpose
      • Not quantified and not limited to a time period
      • E.g. increasing the return on shareholders’ equity
    • A goal is a measurable objective of the business
      • Attainable at some specific future date through planned actions
      • E.g. 10% growth in the next two years
  • What is a Strategic Business Unit? (SBU)
    • A set of products or product lines
      • With clear independence from other products or product lines
      • for which a business or marketing strategy should be designed
  • Characteristics of a viable SBU
    • Unique business mission
    • Definable set of competitors
    • Integrative planning done independently
    • Responsible for resource management in all areas
    • Large enough but not so large as to become bureaucratic
    (Source: Subhash Jain, Marketing Planning & Strategy, 6 th Ed.)
  • Organizational Marketing Levels
    • Hofer and Schendel suggested that organizations develop strategies at three structural levels:
    • Corporate level—(corporate marketing)
    • SBU level—(Strategic Marketing)
    • Product/Market level—(Functional Marketing)
  • Marketing at the SBU Level— Strategic Marketing
    • Strategic Marketing requires
      • Detailed understanding of market needs, and
      • Proactive use of competitive intelligence at the corporate as well as SBU’s levels
    • Strategic Marketing
      • Focuses on what the firm do best at the SBU level
      • To secure and maintain a sustainable competitive advantage
  • What is Competitive Advantage?
    • “ Competitive advantage is a company’s ability to perform in one or more ways that competitors cannot or will not match.” Philip Kotler
    • “ If you don’t have a competitive advantage, don’t compete.” Jack Welch, GE
  • Other Characteristics of Competitive Advantage
    • Substantiality
      • Is it substantial enough to make a difference?
    • Sustainability
      • Can it be neutralized by competitors quickly?
    • Ability to be leveraged into visible business attributes that will influence customers
    (Source: Strategic Marketing Management, Aakers)
  • Seeking Competitive Advantages
    • Positions of advantage
      • Superior customer value
      • Lower relative total cost
    • Performance advantages
      • Customer satisfaction, Loyalty, Market Share, Profit
    • Sources of advantages
      • Superior skills & knowledge, Superior resources, Superior business process
  • Key Elements of Marketing Strategy Formulation
    • The strategic 3 Cs
      • Customers, Competitors & the Corporation
    • Environment analysis -- PEST
    •   Strategic Marketing Decisions
      • Where to compete
      • How to compete
      • When to compete
    • Must have a clearly defined market
    • Must have a good match between corporate strengths and market needs
    • Must have significant positive differentiation in the key success factors of the business
    A Viable Marketing Strategy
  • Situation Analysis
    • Internal Analysis— company; capability etc.
    • External Analysis— customers, market definition, industry structure
    • SWOT Analysis
      • S trengths, W eaknesses, O pportunities & T hreats
      • Identify & prioritize major problems and opportunities: selection of key issues
    • Based on the firm’s core competencies, decide on future options
  • Marketing Audit
    • “ Marketing audit is a comprehensive, systematic, independent, and periodic examination of a company’s—or business unit’s—marketing environment, objectives, strategies, and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance” Philip Kotler
  • Characteristics of Marketing Audit
    • Comprehensive
      • Must cover all marketing areas
    • Systematic
      • Sequential diagnostic steps
    • Independent
      • Internal & external auditors
    • Periodic
      • Performed at regular intervals
  • Marketing Audit Procedure
    • Marketing environment audit
    • Marketing strategy audit
    • Marketing organization audit
    • Marketing system audit
    • Marketing productivity audit
    • Marketing function audit
    • Marketing excellence review
    • Ethical and social responsibility review