Marketing Strategy Jon Kitto [email_address]
Key Elements of Mission Statements <ul><li>Not just the mission as a &quot;wish&quot;. </li></ul><ul><li>Purpose and value...
Mission vs. Vision <ul><li>A  Mission statement : tells you what the company is now. It concentrates on the present; it de...
Objectives Business Objectives Marketing  Objectives Product  Price  Place  Promotion Objectives  Objectives  Objectives O...
The strategic planning gap 10 20 30 40 50 60 70 New strategies gap Operations gap (£60M) Corporate objective (£45M) Revise...
Objectives should be ... <ul><li>... Hierarchical </li></ul><ul><li>... Quantitative </li></ul><ul><li>... Realistic </li>...
Ansoff ’ s Growth Matrix Markets Products Existing Existing New New Market Penetration Market Development Product Developm...
Product market strategy Market penetration 1 Market extension 2 Product  development 3 Diversification 4 Product Current N...
Porter ’ s generic strategies STRATEGIC ADVANTAGE STRATEGIC TARGET Uniqueness perceived by customer Low cost position Indu...
Strategic choice DEVELOPMENT STRATEGIES GENERIC STRATEGIES <ul><li>Cost leadership </li></ul><ul><li>Differentiation </li>...
Approaches to developing sustainable competitive advantage <ul><li>Superior product benefit </li></ul><ul><li>Perceived ad...
Barriers to implementation <ul><li>Culture </li></ul><ul><li>Power and politics </li></ul><ul><li>Analysis, not action </l...
Product Development & Management Jon Kitto [email_address]
Anatomy of a Product Core Tangible Augmented Potential
The product life-cycle Introduction Growth Maturity Decline Profit Sales Sales and profits (£) (a)   Growth-slump-maturity...
The Product Life-cycle I G M D Sales and profits (£) Time A B Sales Profits
Diffusion of Innovation
Actors & Agents  (Victoria University)
Everett Rogers
BCG’s Growth Share Matrix Low 2 4 6 8 10 12 14 16 18 20 High 10x 1x  0.1x High Low Relative market share STARS QUESTION MA...
GE multifactor matrix Business strengths Industry attractiveness Low High Medium Strong Medium Weak Invest for growth Harv...
Shell directional policy matrix Prospects for sector profitability Business’ competitive capabilities Strong Weak Average ...
The Booz Allen Hamilton Classification of New Products <ul><li>New to the world </li></ul><ul><li>New sector development <...
The Role of NPD <ul><li>Avoid product obsolescence </li></ul><ul><li>Ensure match with environmental conditions </li></ul>...
The NPD process Idea generation Initial screening Concept development Business evaluation Product development Product launch
Why Brand? <ul><li>For differentiation & recognition </li></ul><ul><li>To add value to a naked commodity </li></ul><ul><li...
Brand Strategies <ul><li>Manufacturers Brand </li></ul><ul><ul><li>Cadbury ’ s, Ford, Coca-cola </li></ul></ul><ul><li>Mul...
BRAND DEVELOPMENT INCREASED SALES COST EFFICIENCIES VOLUME BUILDING BRAND SALES GROW RETAILER CONCENTRATION VOLUME BUILDIN...
Packaging <ul><li>Contain </li></ul><ul><li>Protect </li></ul><ul><li>Inform </li></ul><ul><li>Differentiate </li></ul><ul...
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Marketing week 5 6

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  • Marketing week 5 6

    1. 1. Marketing Strategy Jon Kitto [email_address]
    2. 2. Key Elements of Mission Statements <ul><li>Not just the mission as a &quot;wish&quot;. </li></ul><ul><li>Purpose and values of the organization </li></ul><ul><li>Which business the organization wants to be in (products or services, market) or who are the organizations primary &quot;clients&quot; (stakeholders) </li></ul><ul><li>Which are the responsibilities of the organization towards these &quot;clients&quot; </li></ul><ul><li>What are the main objectives which support the company in accomplishing its mission </li></ul>
    3. 3. Mission vs. Vision <ul><li>A Mission statement : tells you what the company is now. It concentrates on the present; it defines the customer(s), critical processes and it informs you about the desired level of performance. </li></ul><ul><li>A Vision statement : outlines what a company wants to be. It concentrates on the future; it is a source of inspiration; it provides clear decision-making criteria. </li></ul>
    4. 4. Objectives Business Objectives Marketing Objectives Product Price Place Promotion Objectives Objectives Objectives Objectives
    5. 5. The strategic planning gap 10 20 30 40 50 60 70 New strategies gap Operations gap (£60M) Corporate objective (£45M) Revised forecast (£30M) Initial forecast The planning gap Time (years) Sales (£m)
    6. 6. Objectives should be ... <ul><li>... Hierarchical </li></ul><ul><li>... Quantitative </li></ul><ul><li>... Realistic </li></ul><ul><li>... Consistent </li></ul><ul><li>... SMART </li></ul><ul><li>S pecific </li></ul><ul><li>M easurable </li></ul><ul><li>A chievable </li></ul><ul><li>R esults-oriented </li></ul><ul><li>T ime-bounded </li></ul>
    7. 7. Ansoff ’ s Growth Matrix Markets Products Existing Existing New New Market Penetration Market Development Product Development Diversification
    8. 8. Product market strategy Market penetration 1 Market extension 2 Product development 3 Diversification 4 Product Current New Current New Market Product New Existing 1 4 16 2 Existing New Market Souce: Ansoff RISK
    9. 9. Porter ’ s generic strategies STRATEGIC ADVANTAGE STRATEGIC TARGET Uniqueness perceived by customer Low cost position Industry- wide Segment only FOCUS DIFFERENTIATION OVERALL COST LEADERSHIP Source: Porter
    10. 10. Strategic choice DEVELOPMENT STRATEGIES GENERIC STRATEGIES <ul><li>Cost leadership </li></ul><ul><li>Differentiation </li></ul><ul><li>Focus </li></ul>ALTERNATIVE DIRECTIONS <ul><li>Do nothing </li></ul><ul><li>Withdrawal </li></ul><ul><li>Consolidation </li></ul><ul><li>Market penetration </li></ul><ul><li>Product development </li></ul><ul><li>Market development </li></ul><ul><li>Diversification </li></ul>ALTERNATIVE METHODS <ul><li>Internal </li></ul><ul><li>development </li></ul><ul><li>Acquisition </li></ul><ul><li>Joint </li></ul><ul><li>development </li></ul>Source: Johnson & Scholes
    11. 11. Approaches to developing sustainable competitive advantage <ul><li>Superior product benefit </li></ul><ul><li>Perceived advantage </li></ul><ul><li>Low-cost operations </li></ul><ul><li>Legal advantage </li></ul><ul><li>Superior contacts </li></ul><ul><li>Superior knowledge </li></ul><ul><li>Scale advantages </li></ul><ul><li>Offensive advantages </li></ul><ul><li>Source: Davidson, 1977 </li></ul>
    12. 12. Barriers to implementation <ul><li>Culture </li></ul><ul><li>Power and politics </li></ul><ul><li>Analysis, not action </li></ul><ul><li>Resource issues </li></ul><ul><li>Skills </li></ul>
    13. 13. Product Development & Management Jon Kitto [email_address]
    14. 14. Anatomy of a Product Core Tangible Augmented Potential
    15. 15. The product life-cycle Introduction Growth Maturity Decline Profit Sales Sales and profits (£) (a) Growth-slump-maturity pattern Sales volume Time (b) Cycle-recycle pattern Sales volume Sales volume (c) Scalloped pattern Time Time Initial cycle Recycle
    16. 16. The Product Life-cycle I G M D Sales and profits (£) Time A B Sales Profits
    17. 17. Diffusion of Innovation
    18. 18. Actors & Agents (Victoria University)
    19. 19. Everett Rogers
    20. 20. BCG’s Growth Share Matrix Low 2 4 6 8 10 12 14 16 18 20 High 10x 1x 0.1x High Low Relative market share STARS QUESTION MARKS (problem children) CASH COWS DOGS Modest + or - cash flow Large negative cashflow Large positive cashflow Modest + or - cash flow Optimum cash flow SOURCE: Adapted from Hedley (1977), p. 12 Market growth
    21. 21. GE multifactor matrix Business strengths Industry attractiveness Low High Medium Strong Medium Weak Invest for growth Harvest/withdraw Manage selectively for earnings
    22. 22. Shell directional policy matrix Prospects for sector profitability Business’ competitive capabilities Strong Weak Average Unattractive Average Attractive Disinvest Phased withdrawal Phased withdrawal Custodial growth Cash generation Double or quit Try harder Leader Growth leader
    23. 23. The Booz Allen Hamilton Classification of New Products <ul><li>New to the world </li></ul><ul><li>New sector development </li></ul><ul><li>Additions to existing lines </li></ul><ul><li>Improvements and revisions to existing lines </li></ul><ul><li>Repositioning </li></ul><ul><li>Cost reduction through product modification </li></ul>
    24. 24. The Role of NPD <ul><li>Avoid product obsolescence </li></ul><ul><li>Ensure match with environmental conditions </li></ul><ul><li>Enable the organisation to compete in new and </li></ul><ul><li>developing sectors </li></ul><ul><li>Reduce dependence on vulnerable product sectors </li></ul><ul><li>Match the competition </li></ul><ul><li>Fill excess capacity </li></ul><ul><li>Achieve greater long term growth and profit </li></ul>
    25. 25. The NPD process Idea generation Initial screening Concept development Business evaluation Product development Product launch
    26. 26. Why Brand? <ul><li>For differentiation & recognition </li></ul><ul><li>To add value to a naked commodity </li></ul><ul><li>Easier to promote </li></ul><ul><li>Helps market segmentation </li></ul><ul><li>Can help boost share price </li></ul><ul><li>Easier to integrate - sales promotion, personal selling & packaging </li></ul><ul><li>Can help corporate image </li></ul>
    27. 27. Brand Strategies <ul><li>Manufacturers Brand </li></ul><ul><ul><li>Cadbury ’ s, Ford, Coca-cola </li></ul></ul><ul><li>Multi - Branding (Individual Brand Name) </li></ul><ul><ul><li>Proctor & Gamble </li></ul></ul><ul><ul><ul><li>Tide, Daz, Dreft, Ariel </li></ul></ul></ul><ul><li>Price Brand </li></ul><ul><ul><li>Tesco ‘ Value ’ </li></ul></ul><ul><li>Private/own Label </li></ul><ul><ul><li>Boots, Sainsbury ’ s </li></ul></ul><ul><li>Generic </li></ul><ul><ul><li>‘ No Frills ’ Products </li></ul></ul>
    28. 28. BRAND DEVELOPMENT INCREASED SALES COST EFFICIENCIES VOLUME BUILDING BRAND SALES GROW RETAILER CONCENTRATION VOLUME BUILDING IMPROVED PRODUCTS WIDER DISTRIBUTION NETWORK BUILT UP INVEST IN NEW BRAND BUILD AWARENESS OF ATTRIBUTES SALES INCENTIVE PROGRAMME, TRADE PROMOTION, P.O.S BRAND RECOGNITION AND CUSTOMER DEMAND FOR BRAND RETAILERS LIST BRAND
    29. 29. Packaging <ul><li>Contain </li></ul><ul><li>Protect </li></ul><ul><li>Inform </li></ul><ul><li>Differentiate </li></ul><ul><li>Environmental considerations </li></ul><ul><li>‘ Silent salesperson ’ </li></ul>
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