Corporate and marketing strategy


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Corporate and marketing strategy

  1. 1. Corporate and marketing strategy 01/24/05
  2. 2. Goals, Strategy and tactics <ul><li>GOAL </li></ul><ul><ul><li>What you want to accomplish </li></ul></ul><ul><li>STRATEGY </li></ul><ul><ul><li>Specific plan of action designed to accomplish objective. </li></ul></ul><ul><ul><li>Characterized by </li></ul></ul><ul><ul><ul><li>a specified target market and </li></ul></ul></ul><ul><ul><ul><li>a marketing program to reach it. </li></ul></ul></ul><ul><li>TACTICS </li></ul><ul><ul><li>Logistics necessary to execute strategy </li></ul></ul>
  3. 3. Goals <ul><li>Well-stated goals should be: </li></ul><ul><ul><li>Realistic </li></ul></ul><ul><ul><li>Measurable </li></ul></ul><ul><ul><li>Specific Time Period </li></ul></ul><ul><ul><li>Consistent </li></ul></ul><ul><ul><li>Prioritized </li></ul></ul>
  4. 4. Levels of strategy in organizations
  5. 5. Corporate Strategy <ul><li>Corporate Vision </li></ul><ul><li>Corporate Culture </li></ul><ul><li>Business mission </li></ul>
  6. 6. Product Versus Market Oriented Business Definitions We create fantasies – a place where America still works the way its supposed to We run theme parks Disney We make the Internet buying experience fast, easy and enjoyable – we’re the place where you can find and discover anything you want to buy online We sell books, videos, CDs, toys, consumer electronics, hardware, housewares and other products Market oriented Product oriented Company
  7. 7. Portfolio planning
  8. 8. Market product analysis Current Products New Products 1. Market penetration strategy 3. Product development strategy 2. Market development strategy 4. Diversification strategy Current Markets New Markets
  9. 9. Market product analysis Retain Products Harvesting Retrenchment Retain Markets Eliminate Markets Eliminate Products Pruning Divestment
  10. 10. Consolidation strategies <ul><li>Harvesting </li></ul><ul><ul><li>The use of a gradually decreasing share of the company’s resources to support the product or business. However, the product or business is retained as long as it is profitable </li></ul></ul><ul><li>Pruning </li></ul><ul><ul><li>The attempt to continue serving the same market but not all the segments within that market </li></ul></ul><ul><li>Retrenchment </li></ul><ul><ul><li>An organization continues to offer the same product line but retreats to its strongest core markets </li></ul></ul><ul><li>Divestment </li></ul><ul><ul><li>The selling off of a business or a product line to another company because there is a weak “fit” between its mission and competencies and the requirements for making the product successful </li></ul></ul>
  11. 11. Marketing Strategy <ul><li>For this course, strategy simply is how you combine the Four P’s of marketing to achieve your stated goals </li></ul><ul><li>Strategy should be determined after environmental analysis is completed </li></ul><ul><li>The Four P’s should: </li></ul><ul><ul><li>Fit the Five C’s of the micro environment </li></ul></ul><ul><ul><li>Should be internally consistent with each other </li></ul></ul>
  12. 12. The strategic marketing process Planning phase Situational analysis Goal setting Marketing program Implementation phase Control phase Step 1 Step 2 Step 3 Marketing plan Results Corrective actions
  13. 13. Situation Analysis <ul><li>Situation Analysis </li></ul><ul><ul><li>Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization’s plans and the external factors and trends affecting it. </li></ul></ul><ul><li>A short-hand summary of the situation analysis is the SWOT ANALYSIS </li></ul>
  14. 14. SWOT Analysis <ul><li>How can we: </li></ul><ul><ul><li>Build on key competencies ( strengths ) </li></ul></ul><ul><ul><li>Correct glaring problems ( weaknesses ) </li></ul></ul><ul><ul><li>Exploit significant opportunities ( opportunities ) </li></ul></ul><ul><ul><li>Avoid disaster ( threats ) </li></ul></ul><ul><li>Strengths and weaknesses deal with the internal environment </li></ul><ul><li>Opportunities and threats deal with the external environment </li></ul>