Ch2

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Ch2

  1. 1. Developing Marketing Strategies and Plans 2 Marketing Management A South Asian Perspective, 13th ed
  2. 2. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-2 Market Opportunity Analysis (MOA) • Can the benefits involved in the opportunity be articulated convincingly to a defined target market? • Can the target market be located and reached with cost-effective media and trade channels? • Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits?
  3. 3. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-3 Market Opportunity Analysis (MOA) (cont.) • Can the company deliver the benefits better than any actual or potential competitors? • Will the financial rate of return meet or exceed the company’s required threshold for investment?
  4. 4. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-4 Figure 2.4 The Strategic Planning, Implementation, and Control Processes
  5. 5. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-5 Corporate Headquarters’ Planning Activities • Define the corporate mission • Establish strategic business units (SBUs) • Assign resources to each SBU • Assess growth opportunities
  6. 6. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-6 Good Mission Statements Focus on limited number of goalsFocus on limited number of goals Stress major policies and valuesStress major policies and values Define major competitive spheresDefine major competitive spheres Take a long-term viewTake a long-term view Short, memorable, meaningfulShort, memorable, meaningful
  7. 7. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-7 Infosys Technologies Limited “To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, vendors, and society at large.”
  8. 8. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-8 eBay “We help people trade anything on earth. We will continue to enhance the online trading experiences of all—collectors, dealers, small businesses, unique item seekers, bargain hunters, opportunity sellers, and browsers.”
  9. 9. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-9 Characteristics of SBUs • It is a single business or collection of related businesses • It has its own set of competitors • It has a leader responsible for strategic planning and profitability
  10. 10. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-10 Figure 2.7 The Business Unit Strategic Planning Process
  11. 11. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-11 SWOT Analysis Strengths Weaknesses Opportunities Threats
  12. 12. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-12 What is a Marketing Plan? A marketing plan is the central instrument for directing and coordinating the marketing effort. It operates at a strategic and tactical level.
  13. 13. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-13 Levels of a Marketing Plan • Strategic • Target marketing decisions • Value proposition • Analysis of marketing opportunities • Tactical • Product features • Promotion • Merchandising • Pricing • Sales channels • Service
  14. 14. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-14 Marketing Plan Contents  Executive summary  Table of contents  Situation analysis  Marketing strategy  Financial projections  Implementation controls
  15. 15. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-15 Evaluating a Marketing Plan  Is the plan simple?  Is the plan specific?  Is the plan realistic?  Is the plan complete?
  16. 16. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-16 Strategies Suggested by Ansoff’s Product-Market Expansion Grid Present Product New Product Present Market Market Penetration : Amul selling milk to existing customer base. Product Development : Amul Develops flavored Yogurt. New Market Market Development : Amul enters the markets of Mauritius, UAE, Australia and Singapore. Diversification : Amul enters Pizza, Ice cream and Body warmers clothes business.
  17. 17. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-17 Value Creation and Delivery Process •Choose the Value : Customer Segmentation, Market Selection, Value positioning •Provide the Value : Product Development, Service Development, Pricing, Sourcing and Making, Distributing and Servicing •Communicating the Value : Sales force, Sales promotion, Advertising
  18. 18. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-18 What is the Value Chain? The value chain is a tool for identifying ways to create more customer value because every firm is a blend of primary and support activities performed to design, produce, market, deliver, and support its product. There are nine strategically relevant activities – five primary and four support activities.
  19. 19. Strategic Value Chain Activities Primary Activities : •Inbound Logistics : Bringing material into the Business •Operations : Converting them into final products •Outbound Logistics : Making them available for final customers •Marketing and Sales : Promoting and selling. •Service : Providing necessary promised service.
  20. 20. Strategic Value Chain Activities Secondary Activities : •Firm Infrastructure : Necessary infrastructure and resources •Human Resource : Qualified and experienced staff •Technology Development : Necessary environment for R & D •Procurement : Proper input in the organization.
  21. 21. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-21 Table 2.3 Product Orientation vs. Market Orientation Company Product Market Xerox We make copying equipment We improve office productivity Columbia Pictures We make movies We entertain people Encyclopedia Britannica We sell encyclopedias We distribute information Carrier We make air conditioners and furnaces We provide climate control inside homes
  22. 22. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-22 Core Business Processes • Market-sensing process • New-offering realization process • Customer acquisition process • Customer relationship management process
  23. 23. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-23 Characteristics of Core Competencies • A source of competitive advantage • Applications in a wide variety of markets • Difficult to imitate
  24. 24. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-24 What is Holistic Marketing? Holistic marketing sees itself as integrating the value exploration, value creation, and value delivery activities with the purpose of building long-term, mutually satisfying relationships and prosperity among key stakeholders.
  25. 25. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-25 Goal Formulation and MBO • Unit’s objectives must be hierarchical • Objectives should be quantitative • Goals should be realistic • Objectives must be consistent
  26. 26. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-26 What is Corporate Culture? Corporate culture is the shared experiences, stories, beliefs, and norms that characterize an organization.
  27. 27. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-27 Porter’s Generic Strategies Overall Cost Leadership Differentiation Focus
  28. 28. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 2-28 Categories of Marketing Alliances Product or Service AlliancesProduct or Service Alliances Promotional AlliancesPromotional Alliances Logistics AlliancesLogistics Alliances Pricing CollaborationsPricing Collaborations

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