Ch2 developing marketing strategies and plans silubrico

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Chapter 2 Developing Marketing strategies and Plans

Chapter 2 Developing Marketing strategies and Plans

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  • 1. TOP 10 Learning ConceptsCh 2: Developing Marketing Strategies and Plans Sue Ann P. Silubrico March 31, 2011 Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/
  • 2. Ch 2: Developing Marketing Strategies and PlansDeveloping MarketingStrategies Plans Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 2
  • 3. Outline: TOP 10 Learning Concepts Ch 2: Developing Marketing Strategies and Plans 1. What dimension defines business? 2. What are Porter’s Generic Strategies?3. What are the three V’s Approach to Marketing? 4. What are the Major Competitive Spheres? 5. What are the levels of Marketing Plan? Reference : Philip Kotler’s Marketing Management 13th Edition 3 http://suesilubrico.blogspot.com/
  • 4. Outline: TOP 10 Learning Concepts Ch 2: Developing Marketing Strategies and Plans 6. What are Marketing Alliances? 7. What is Holistic Marketing Framework? 8. Why Strategic Planning is important?9. What are the Business unit Strategic Planning process? 10. What are the Marketing plans? Reference : Philip Kotler’s Marketing Management 13th Edition 4 http://suesilubrico.blogspot.com/
  • 5. Concept 1: What Dimensions Define aBusiness? Customer Groups Customer Needs Technology Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 5
  • 6. Concept Example Who are the Customer group? We are the group, retailer Customers Seeks to attract and satisfy Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 6
  • 7. Concept Example What are the Customer needs? Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 7
  • 8. Concept Example Service:  Car broke down Towed Fixing Fixed Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 8
  • 9. Concept Example Goods: Coffee bean Grind coffee bean filtered Pour Coffee Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 9
  • 10. Concept Example Technology: Makes your life easier… Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 10
  • 11. Concept 2: Porter’s Generic StrategiesOverall cost Leadership Differentiation Focus Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 11
  • 12. Concept Example What is Overall Cost Leadership?  Company seeks to gain greater market share  To increase their sales  To have lower prices than the competition Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 12
  • 13. Concept Example What is Differentiation?  Product or service that offers unique attributes.  Valued by customers  Competitive advantage based on products or service. Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 13
  • 14. Concept Example What is Focus?  Concentrates on meeting specialized needs of its customers  Focus on specific customers or markets Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 14
  • 15. Concept Example Focus: Dell Computer’s strategy is highly focused around the efficient sale and manufacture of computers and computer peripheral devices Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 15
  • 16. Concept 3: What are the 3 V’sApproach to Marketing Define the value Segment Define the value Proposition Define the value Network Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 16
  • 17. Concept Example Value Segment:  Customer value brand or service by:  Quality  Advertisements  Location Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 17
  • 18. Concept Example Value Proposition  Target customers benefit from patronizing companys product: Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 18
  • 19. Concept Example Why do customers buy from Starbucks?  Starbucks Value Propositions:  To Create Experience around consumption of coffee  To Create Customer Intimacy  To create an Ambience, the need for people to get together. Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 19
  • 20. Concept Example Define the Value of Network  Network of people and companies that contribute to the increase in a products value Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 20
  • 21. Concept Example How does Starbucks do their Value Network?  Advertising  Word of Mouth Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 21
  • 22. Concept Example How does Starbucks do their Value Network?  Excellent Service  Quality Products Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 22
  • 23. Concept 4: What are the MajorCompetitive Sphere? Industry Geographical Products Vertical Competence Channels Market Segment Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 23
  • 24. Concept Example Concept 4: Starbucks is an international coffee and coffee chain Industry Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 24
  • 25. Concept Example Concept 4: Starbucks serves people worldwide with high quality products. Products Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 25
  • 26. Concept Example Concept 4: What are the strong competitve advantage of Starbucks? Product Variety High-Quality Products Competence Customer Service Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 26
  • 27. Concept Example Concept 4: Who are the target market of Starbucks? Family Market Friends Segment Students Employees Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 27
  • 28. Concept Example Concept 4: Starbucks vertical channels Coffee Farm Distributed Vertical Channels Processed Finished product Exported Delivered Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 28
  • 29. Concept Example Concept 4:Currently Starbucks is present in more than 55 countries Geographical Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 29
  • 30. Concept 5:What are the levelsof Marketing Plan? Strategic Tactical Identify target Lays Marketing Markets and Plans Value proposition Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 30
  • 31. Concept Example Concept 5: Marketing Plan is an instrument for directing and coordinating marketing effort  Strategic: Nike’s Target Markets are: Athletes Fitness Enthusiasts Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 31
  • 32. Concept Example Concept 5: Marketing Plan is an instrument for directing and coordinating marketing effort  Tactical: Merchandising Promotion Product features Pricing Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 32
  • 33. Concept 6:What are MarketingAlliances? Product or Services Alliances Promotional Alliances Logistics Alliances Pricing Collaborations Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 33
  • 34. Concept Example Products and Services Alliances  Starbucks is extending its brand.  Starbucks partnered with PepsiCo Inc.  To produce a bottled version of Starbucks Frappuccino.  Another partnership with Dryers  To produce Starbucks branded ice cream products. Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 34
  • 35. Concept Example Promotional Alliances: Company agrees to carry promotion for another company’s product or service.  Mc Donalds teamed up with Disney for 10 years to offer products related to Disney films as part of its happy meals. Bee Movie Ice Age Movie Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 35
  • 36. Concept Example Logistic Alliances: One company offers logistical services for another company’s products.  Abbotts laboratories warehouses and delivers 3M’s Medical and surgical products. Medical warehouse supplies Deliveries Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 36
  • 37. Concept Example Pricing Collaborations: One or more companies join in special pricing collaborations. Hotels and rental car companies often offer mutual discounts Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 37
  • 38. Concept 7: What are theHolistic Marketing Framework Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 38
  • 39. Concept Example Concept 7: Holistic Marketing Framework a key of creating long term relationships among stakeholders Value Exploration Value Delivery Value Creation Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 39
  • 40. Concept 8: Why StrategicPlanning is important? Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 40
  • 41. Concept Example Concept 8: Why Strategic Planning is important?  It helps to response effectively with customer needs by: Planning Implementing Controlling Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 41
  • 42. Concept 9:What are BusinessUnit Strategic Planning Process Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 42
  • 43. Concept Example Business Mission: Needs to define its specific mission within the company Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 43
  • 44. Concept Example SWOT Analysis: Overall evaluation of companys Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 43
  • 45. Concept Example Goal Formulation:  Develop specific goal for the planning period Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 45
  • 46. Concept Example Strategic Formulation:  Business must design strategy for achieving its goals. Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 46
  • 47. Concept Example Program Formulation:  Must Plan program to strengthen Research & Development Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 47
  • 48. Concept Example Implementation:  Even great marketing strategy can be sabotaged by poor implementation Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 48
  • 49. Concept Example Feedback and Control:  “Do the right thing – to be effective” Than  “To do things right – to be efficient” - Peter Ducker Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 49
  • 50. Concept 10:What are Marketing Plans?Executive SummaryTable of ContentsSituation AnalysisMarketing StrategyFinancial ProjectionsImplementation Controls Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 50
  • 51. Concept Example Concept 10: Executive Summary Open with a brief summary of main goals and recommendation Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 51
  • 52. Concept Example Concept 10: Situation Analysis  How do we define the market?  How big is it?  How fast is it growing?  What are the relevance trend?  What are the products offering?  What critical issue do we face? Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 52
  • 53. Concept Example Concept 10: Marketing Strategy Managers defines:  Mission  Marketing  Financial objectives Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 53
  • 54. Concept Example Concept 10: Financial Projections Includes:  Sales Forecast  Expense forecast  Break even analysis Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 54
  • 55. Concept Example Concept 10: Implementation Control It spells out the goals and budget of each month or quarter Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 54
  • 56. Summary:1. What dimension defines business?2. What are Porter’s Generic Strategies?3. What are the three V’s Approach to Marketing?4. What are the Major Competitive Spheres?5. What are the levels of Marketing Plan? Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 56
  • 57. Summary: 6. What are Marketing Alliances? 7. What is Holistic Marketing Framework? 8. Why Strategic Planning is important? 9. What are the Business unit Strategic Planning process? 10. What are the Marketing plans? Reference : Philip Kotler’s Marketing Management 13th Edition http://suesilubrico.blogspot.com/ 57
  • 58. TOP 10 Learning ConceptsCh 2: Developing Marketing Strategies and Plans Sue Ann P. Silubrico March 31, 2011 Reference : Philip Kotler’s Marketing Management 13th Edition 58 http://suesilubrico.blogspot.com/