Lanning and strategy

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Lanning and strategy

  1. 1. Marketing: Planning and Strategy
  2. 2. Strategy: Definition <ul><li>A pattern of major objectives, goals, essential policies and plans that define the current or future firm’s business and the kind of company the firm is now or is to become. </li></ul>
  3. 3. Why do we need to “Strategize” <ul><li>Finite resources </li></ul><ul><li>Uncertainty about competitive strengths </li></ul><ul><li>Irreversible commitment of resources </li></ul><ul><li>Coordinated decisions </li></ul><ul><li>Uncertainty about control of initiative </li></ul>
  4. 4. Elements of Marketing Strategy Formulation
  5. 5. <ul><li>S trengths </li></ul><ul><li>W eaknesses </li></ul><ul><li>O pportunities </li></ul><ul><li>T hreats </li></ul>SWOT Analysis internal external
  6. 6. Identifying and Framing Organizational Growth Opportunities <ul><li>What might we do? - environmental opportunity </li></ul><ul><li>What do we do best? - distinctive competency </li></ul><ul><li>What must we do? - success requirements </li></ul>Converting Environmental Opportunities into Organizational Opportunities
  7. 7. <ul><li>Product strategy </li></ul><ul><li>Promotion/Communication strategy </li></ul><ul><li>Placement/Distribution/Channel strategy </li></ul><ul><li>Pricing strategy </li></ul>The Marketing Mix
  8. 8. Existing New Existing New Market Penetration Market Development New Offering Development Diversification Markets Offerings Formulating Product-Market Strategies
  9. 9. Formulating Product-Market Strategies <ul><li>Market Penetration Strategy </li></ul><ul><ul><li>greater dominance is key </li></ul></ul><ul><li>Market Development Strategy </li></ul><ul><ul><li>exporting </li></ul></ul><ul><ul><li>licensing </li></ul></ul><ul><ul><li>joint venture </li></ul></ul><ul><ul><li>direct investment </li></ul></ul>
  10. 10. Formulating Product-Market Strategies <ul><li>Product-Development Strategy </li></ul><ul><ul><li>product innovation </li></ul></ul><ul><ul><li>product augmentation </li></ul></ul><ul><ul><li>product line extension </li></ul></ul><ul><ul><li>cannibalism </li></ul></ul><ul><li>Diversification </li></ul>
  11. 11. Drafting a Marketing Plan <ul><li>Context and Scope of Marketing Effort </li></ul><ul><li>Focus: Business, Product, Brand </li></ul><ul><li>Time Dimension: Short-run, Long-run </li></ul>
  12. 12. Decisions About Competing <ul><li>Where (markets) </li></ul><ul><li>When (Entry) </li></ul><ul><li>How </li></ul>
  13. 13. Problems in Strategic Marketing <ul><li>Too much emphasis on </li></ul><ul><ul><li>where to compete </li></ul></ul><ul><li>Too little emphasis on </li></ul><ul><ul><li>how to compete </li></ul></ul><ul><ul><li>when to compete </li></ul></ul><ul><ul><li>adaptability </li></ul></ul><ul><ul><li>uniqueness </li></ul></ul>
  14. 14. Implementation: Common Problems <ul><li>Simplify marketing strategies </li></ul><ul><li>More focus on uniqueness and adaptability </li></ul><ul><li>Improve speed and flexibility </li></ul>

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