Mensur Boydaş, Vahdi Boydaş: Mkt lec 5

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Mensur Boydaş, Vahdi Boydaş

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Mensur Boydaş, Vahdi Boydaş: Mkt lec 5

  1. 1. Marketing Strategic planning and segmentation
  2. 2. Strategic Marketing Planning(SMP) • Definition:The logic (Strategy/how) that matches the organization objectives & resources to its changing marketing opportunities within the organization’s financial boundaries. • SMP is driven by the marketing concept as the market orientation is the prime strategic philosophy influencing: – – – – Mission statement--purpose of existence (e.g. NIKE) Internal strategies---value chain (inter-departmental) External strategies---networking (with government, retailers) Growth strategies---[e.g. Kellogg's, Pepsi (PepsiCo. foods)] • Objectives plan: Market penetration, Market development, and Diversification • Resources plan(4P’s): Product, Price, Promotion and Place/Distribution
  3. 3. SMP goals (Conti.) • Maximize revenue • Maximize profit Contradicting (usually) • Maximize return on investment • Minimize cost Optimum compromise
  4. 4. Types of SMP (Conti.) – Strategic planning • Goal: Doing the right thing • Time: Long term (3-5 years) • Focus: Pan-organizational – Tactical planning • Goal: Doing things right • Time: Short term (1 or less years) • Focus: Departmental
  5. 5. Strategic marketing management process • Analysis of environment and customer behavior • Planning: developing the marketing plan (for a product)that is a written document capturing the logic linking the organization objectives of creating/offering a certain product to its market/s with its overall objectives. – Implementation: applying the plan(action/execution)--vital for success--ensuring ownership of the plan. – Control: measure results--evaluate performance--take corrective action
  6. 6. Strategic marketing management process (conti.) • Analysis – Environment (Marketing intelligence, managerial environment(e.g. SWOT, BCG) • SWOT[strengths, weaknesses, opportunities and threats] • BCG Matrix: High Market growth rate Low ? Dog Cow High-Market share-low – Customer behavior: MIS
  7. 7. Segmentation • Market Segmentation: dividing the consumer market into smaller groups each of which shares similar yet distinctive characteristics requiring different offerings. – Levels of market segmentation Segments (Kellogg's) Micro(local/individual) (e.g. some retailers/RR) Niche(e.g. CanJet) Mass(e.g. early Coca-cola)
  8. 8. Segment Variables
  9. 9. Segmentation (Conti.) • Consumer market segmentation variables(driven from consumer behavior) – Geographic • Country, city size, province, residential area, etc. (Retailers) – Demographic • Age, gender, income, etc.---Insurance (life/driving, etc.) – Psychographic • lifestyle/personality----GAP/Timberland/CAT – Behavioral • User status/rate, etc.---Air Canada Aeroplan/frequent flyer/VIP
  10. 10. Segmentation (Conti.) • Targeting: – Evaluate and then Select segment/s to serve
  11. 11. Positioning for competitive advantage • Definition:the distinctive perception (position) of the product in customers’ mind compared to competition. – USP (more for more/M-Benz) v.Value proposition (same for less/Loblaws’ PC) – iMac v. Pc’s – Risks • Under-positioning--no perception at all • Over-positioning---too narrow perception • Confused positioning--vague perception

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