This document provides an overview of developing marketing strategies and plans. It discusses how marketing affects customer value and different levels of strategic planning within an organization. A marketing plan typically includes a situation analysis, marketing strategy, financial projections, and implementation controls. The document outlines the key steps in a strategic marketing planning process, including performing a situational analysis to understand the current performance and market conditions, developing a marketing strategy and objectives based on the situational analysis, and creating a performance plan to show how the strategy and objectives will be achieved. It emphasizes that a thorough situational analysis is critical to understand any performance issues and inform the marketing strategy.
5. Three V’s Approach to
Marketing
Define the value segment
Define the value proposition
Define the value network
6. What is the Value Chain?
The value chain is a tool for identifying
ways to create more customer value
because every firm is a synthesis of
primary and support activities performed to
design, produce, market, deliver, and
support its product.
8. Hall
Core Business Processes
• Market-sensing process
• New-offering realization process
• Customer acquisition process
• Customer relationship management
process
• Fulfillment management process
9. Characteristics of Core Competencies
• A source of competitive advantage
• Applications in a wide variety of markets
• Difficult to imitate
11. Firms Should Consider Key Questions
• Can we learn from the past?
• How should the present be evaluated?
• What do we envision for the future?
12. What is Holistic Marketing?
Holistic marketing sees itself as
integrating the value exploration,
value creation, and value delivery
activities with the purpose of building
long-term, mutually satisfying
relationships and coprosperity among
key stakeholders.
14. What is a Marketing Plan?
A marketing plan is the central instrument
for directing and coordinating the
marketing effort.
It operates at a
strategic and tactical level.
15. Levels of a Marketing Plan
• Strategic
– Target marketing
decisions
– Value proposition
– Analysis of
marketing
opportunities
• Tactical
– Product features
– Promotion
– Merchandising
– Pricing
– Sales channels
– Service
16. Figure 2.2 The Strategic Planning,
Implementation,
and Control Processes
20. Rubbermaid Commercial Products, Inc.
“Our vision is to be the Global Market Share
Leader in each of the markets we serve. We
will earn this leadership position by
providing to our distributor and end-user
customers innovative, high-quality, cost-
effective and environmentally responsible
products. We will add value to these products
by providing legendary customer service
through our uncompromising Commitment
to Customer Satisfaction.”
21. Motorola
“The purpose of Motorola is to honorably
serve the needs of the community by providing
products and services of superior quality at a
fair price to our customers; to do this so as to
earn an adequate profit which is required for
the total enterprise to grow; and by doing so,
provide the opportunity for our employees and
shareholders to achieve their personal
objectives.”
22. eBay
“We help people trade anything on earth.
We will continue to enhance the online
trading experiences of all—collectors,
dealers, small businesses, unique item
seekers, bargain hunters, opportunity
sellers, and browsers.”
23. Table 2.3
Product Orientation vs. Market Orientation
Company Product Market
Missouri-Pacific
Railroad
We run a railroad We are a people-
and-goods mover
Xerox We make copying
equipment
We improve office
productivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertain
people
25. Characteristics of SBUs
• It is a single business or collection of
related businesses
• It has its own set of competitors
• It has a leader responsible for strategic
planning and profitability
29. What is Corporate Culture?
Corporate culture is the shared
experiences, stories, beliefs, and norms
that characterize an organization.
30. Tactics for Managing Change
• Avoid the innovation title for the team
• Use the buddy system
• Set the metrics in advance
• Aim for quick hits first
• Get data to back up your gut
33. Market Opportunity Analysis (MOA)
• Can the benefits involved in the opportunity be
articulated convincingly to a defined target
market?
• Can the target market be located and reached
with cost-effective media and trade channels?
• Does the company possess or have access to
the critical capabilities and resources needed to
deliver the customer benefits?
34. Market Opportunity Analysis (MOA) (cont.)
• Can the company deliver the benefits
better than any actual or potential
competitors?
• Will the financial rate of return meet or
exceed the company’s required threshold
for investment?
38. Goal Formulation and MBO
• Unit’s objectives must be hierarchical
• Objectives should be quantitative
• Goals should be realistic
• Objectives must be consistent
42. Evaluating a Marketing Plan
Is the plan simple?
Is the plan specific?
Is the plan realistic?
Is the plan complete?
43. Marketing Debate
What good is a mission statement?
Take a position:
1. Mission statements are critical to a
successful marketing organization.
or
2. Mission statements rarely provide
useful marketing value.
44. Marketing Discussion
What implications do Porter’s value
chain and the holistic marketing
orientation model have for
marketing planning?
45. Marketing Planning
• Building a marketing plan. An effective marketing plan is the result of a systematic,
creative, & yet structured process that uncovers market opportunities & threats
a business can then address in order to achieve its performance objectives.. The
development of a marketing plan is a process, & each step in the process has a
structure that enables the marketing plan to evolve from abstract ideas & a
compilation of information into a comprehensive document that is easy to
understand & logical in its conclusions, & which demonstrates the high probability
of the success of its proposed strategies.
• Situational analysis. Step 1. Assessment of current performance, market
conditions, customer needs, & competitive position. Step 2. SWOT analysis
summarizes key strengths, weaknesses, opportunities & threats that the plan
needs to address.
• Next Marketing Strategy. Step 3. Propose a strategic marketing plan with respect
to investment & market share objectives for a specified planning horizon. Step 4.
Develop a marketing mix strategy with respect to product, price, promotion, &
place to achieve proposed plan & share objectives.
• Next Performance plan. Step 5.Based on the proposed strategy, develop the
revenue plan & marketing budget needed to support the proposed share &
revenue plan. Step 6. Develop a profit plan for the planning horizon that presents
marketing profits, performance metrics & a risk analysis.
• Next Performance review. Step 7.Does the plan meet the strategic performance,
& profitability objectives with acceptable risk?
• Adjust Marketing Strategy, Marketing Budget, & Performance Objectives.
• Performance Gap. The performance gap is so wide as to require a review of the
marketing strategy & marketing budget.
46. Marketing Planning
• Part 1. Situational Analysis – where are we now? The strategic marketing
planning process starts with a detailed situational analysis of the market & business
with respect to current market forces, the business’s competitive position, & its
current performance. The primary purpose of a situation analysis is to uncover key
performance issues that usually go unnoticed in day-to-day business operations.
First, we need to go deeper into the market & the business’s operation to fully
understand customer needs, competition, & channel systems, as well as business
positioning, margins & profitability.
• A thorough situation analysis is required for a business to understand current
performance & market conditions & to uncover the key issues that affect
performance.
• Situation Analysis (Where are we now?) –> Marketing Strategy (Where do we
want to go?) –> Performance Plan (Where will this take us?)
• The above shows us the output of the situation analysis is the marketing strategy.
The marketing strategy must reconcile current performance & market
conditions with desired performance objectives. The combination of the situation
analysis & marketing strategy drives the objectives of the marketing plan with
respect to market share, sales, margins,& marketing profitability..
• Step 1. Current situation. A fact based analysis of the current situation is the first
requirement in building a successful marketing plan. But acquiring accurate
information on “where are we now” with respect to performance, market
conditions, & competitive position is often the most challenging aspect of building
a market based performance plan. When specific information is not readily available,
managers may be tempted to work around it, as though it were information not
relevant to approaching the business’s current situation. Unfortunately this is not an
acceptable approach. In some cases, the information may be truly unavailable, &
then managers will have to make estimates based on their experience &
marketing knowledge.
47. Marketing Planning
• CURRENT SITUATION.
• Current Performance. 1. Sales. 2. Margins. 3. Profits.
• Market Demand. 1. Market Size. 2. Growth rate. 3. Potential.
• Competition & Industry. 1. Competition. 2. Industry. 3. Share Position
• Market Share. 1. Market Share 2. Share Metrics. 3. Share Potential
• Customer Needs. 1. Customer Needs 2. Purchase Behavior. 3. Customer
Profile
• Competitive Position & Value. 1. Product & Service 2. Cost of Purchase
3. Customer value
• The above summarizes the data needed for fully capturing the essence of
the current situation. As mentioned, estimates or assumption may often
have to replace actual data, especially when marketing managers are new
to the process of developing a market-based analysis of a business’s
current situation. Over time, however, any estimates or assumptions will be
replaced with market data. Managers may feel a bit uneasy in making
estimates or assumptions, but almost every marketing manager needs to
make them when developing a business’s initial assessment of its current
situation. The assessment, however, will force on a business’s marketing
managers a better knowledge of their market, leading to discovery of new
data sources. The real enemy is a completely blank paper. Even using a
guess is better than using nothing. Estimates & assumptions at least can
be modified as the actual data emerge.
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