Slideshare for dropbox "Point-of-View" assignment.

1. CH. 2 MARKETING STRATEGY
& MARKETING PLANS
Andrew Cameron

2. WHAT IS MARKETING STRATEGY?
• Marketing strategy is composed of three elements
• Target market
• Related marketing mix
• Plan for developing a sustainable competitive advantage

3. BUILDING A SUSTAINABLE COMPETITIVE
ADVANTAGE
• There are four strategies for building sustainable competitive advantage
• Customer excellence
• Focus on maintaining customers
• Operational excellence
• Focus on effective execution of operations
• Product excellence
• Creating products that customers want
• Locational excellence
• Being where customers need you

4. WHAT IS A MARKETING PLAN?
• Marketing plans consist of three phases
• Planning
• Implementation
• Control

5. MARKETING PLAN - PLANNING
• Planning is the first phase of any marketing plan
• During planning the firm should be asking "why"
• Firms should reflect on what they currently do and what they would like to do
• The firm should ensure its plan aligns with its mission statement

6. MARKETING PLAN - IMPLEMENTATION
• Implementation is the second phase of the marketing plan
• During implementation the firm should ask "how"
• How will the plan be executed?
• How will it provide value?

7. MARKETING PLAN - CONTROL
• The control phase is the final step of the marketing plan
• This phase is for the firm to evaluate what happened
• What worked?
• What failed?
• What can be done to improve next time?

8. SWOT ANALYSIS
• SWOT stands for
• Strengths
• Weaknesses
• Opportunities
• Threats
• Part of the situational analysis
• Assesses where the firm is at and what it can excel at

9. THE FOUR P'S
• Product, price, promotion, and place
• Firms must carefully negotiate the four p's to best satisfy customers
• There is an inverse relationship between product and price
• As the value of one increases for the customer, the other decreases value for the
customer

10. PORTFOLIO ANALYSIS
• Evaluation tool for a firm
• Evaluates products
• Evaluates businesses
• Can be used help the firm focus its attention on what is most beneficial

11. GROWTH STRATEGIES
• There are four ways a firm can grow
• Market penetration
• Focus on existing customers
• Market development
• Maintains current marekting mix, but to a new market segment
• Product development
• Creating a new product for the existing target market
• Diversification
• New product and new market segment