Session 3   MG 220 MBA - 23 Aug 10
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Session 3 MG 220 MBA - 23 Aug 10

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Session 3

Session 3
MG 220 Marketing Management
MBA 10

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Session 3   MG 220 MBA - 23 Aug 10 Session 3 MG 220 MBA - 23 Aug 10 Presentation Transcript

  • Part 1: Understanding Marketing Management
    > Corporate and Division Strategic Planning
    > Business Unit Strategic Planning
    > Product Planning: The Nature and Contents of a Marketing Plan
    Class Presentation | Session 3 | 23 Aug 2010
  • Corporate & Division Strategic PlanningActivities
    Four Planning Activities
    Defining the Corporate Mission
    Establishing Strategic Business Units
    Assigning Resources to each SBU
    Assessing Growth Opportunities
    MG 220 Marketing Management
    2
  • Corporate & Division Strategic Planning1. Defining the Corporate Mission
    Peter Drucker’s classic questions
    What is our business?
    Who is the customer?
    What is of value to our customer?
    What will our business be?
    What should our business be?
    MG 220 Marketing Management
    3
  • Corporate & Division Strategic Planning1. Defining the Corporate Mission (…contd.)
    Mission Statements
    Focus on LIMITED goals
    Stress company’s major policies & values
    Define the major competitive spheres:
    Industry (in which company operates)
    Products & Applications
    Competence
    Market Segment
    Vertical (channels)
    Geographical
    MG 220 Marketing Management
    4
  • Corporate & Division Strategic Planning2&3. Defining Business / Establishing SBUs
    A business is?
    Customer-satisfying process
    NOT: Goods-producing process
    MG 220 Marketing Management
    5
  • Corporate & Division Strategic Planning2&3. Defining Business / Establishing SBUs (…contd)
    A SBU:
    Single business or collection of related businesses which can be planned from the rest of the company
    It has its own set of competitors
    It has a manager who is responsible for strategic planning and profit performance and who controls most of the factors affecting profit
    MG 220 Marketing Management
    6
  • Corporate & Division Strategic Planning4. Assessing Growth Opportunities
    Strategic Planning Gap
    MG 220 Marketing Management
    7
  • Corporate & Division Strategic Planning4. Assessing Growth Opportunities (…contd)
    Intensive Growth
    Ansoff Product-Market Expansion Grid
    MG 220 Marketing Management
    8
  • Corporate & Division Strategic Planning4. Assessing Growth Opportunities (…contd)
    Integrative Growth
    ‘Integrations’
    Backward: Acquire Suppliers
    Forward: Acquire distributors/suppliers
    Horizontal: Acquire Competitors
    MG 220 Marketing Management
    9
  • Corporate & Division Strategic Planning4. Assessing Growth Opportunities (…contd)
    Diversification Growth
    When good opportunities can be found outside current business
    New line of business NOT products
    Downsizing & Divesting
    Pruning & harvesting current portfolio
    MG 220 Marketing Management
    10
  • Business Unit Strategic PlanningProcess
    MG 220 Marketing Management
    11
  • Business Unit Strategic PlanningSWOT Analysis
    SWOT
    Internal Environment Analysis
    Strengths
    Weaknesses
    External Environment Analysis
    Opportunities
    Threats
    MG 220 Marketing Management
    12
  • Business Unit Strategic PlanningGoal Formulation
    Setting objectives & MBO
    Managing by Objectives
    Goals should have these characteristics
    They must be arranged hierarchically from the most to least important
    Objectives should be stated quantitatively whenever possible
    Goals should be realistic
    Objectives must be consistent
    MG 220 Marketing Management
    13
  • Business Unit Strategic PlanningStrategic Formulation
    Goals: What a business wants to achieve
    Strategy: A game plan for getting there
    Porter’s Generic Strategies
    Overall Cost Leadership
    Differentiation
    Focus
    Strategic Alliances
    Product or Service Alliances (licensing to produce its product)
    Promotional Alliances (joint promotions)
    Logistics Alliances
    Pricing Collaborations (mutual price discounts)
    MG 220 Marketing Management
    14
  • Business Unit Strategic PlanningProgram Formulation & Implementation
    Great Marketing Strategy can fail:
    If poorly implemented
    Strategy is one the seven elements in business practice! (McKinsey)
    Strategy
    Structure
    Systems
    Style
    Skills
    Staff
    Shared Values
    MG 220 Marketing Management
    15
  • Business Unit Strategic PlanningFeedback & Control
    Need to track results and monitor new developments
    Need to continuously examine changing environment and to adopt to new goals and behaviors
    MG 220 Marketing Management
    16
  • Product Planning: Marketing PlanNature
    Marketing Plan
    A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives
    MG 220 Marketing Management
    17
  • Product Planning: Marketing PlanContents
    Executive Summary & Table of Contents
    Situation Analysis
    Marketing Strategy
    Financial Projections
    Implementation Controls
    MG 220 Marketing Management
    18
  • AssignmentPart 1 of 4
    Select a product brand (get it approved)
    Identify its 4Ps
    Max. one-page length, hand-written (shall be typed after review)
    Due: Mon, Aug 30, 2010
    MG 220 Marketing Management
    19
  • Part 2: Capturing Market Insights
    > Review and revision of Part 1 with local examples
    > Gathering Information & Scanning the environment
    > Key Concepts in complete Chapter 3 will be covered
    Class Presentation | Session 4 | 26 Aug 2010