Partnering to Build Customer Relationships

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Company and Marketing Strategy: Partnering to Build Customer Relationships

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  • Very helpful to prepare some teaching notes to under non-biz student.
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Partnering to Build Customer Relationships

  1. 1. Company and Marketing Strategy: Partnering to Build Customer Relationships Chapter 2
  2. 2. Learning Goals <ul><li>Explain strategic planning </li></ul><ul><li>Describe business portfolios and growth strategies </li></ul><ul><li>Detail marketing’s role in strategic planning </li></ul><ul><li>Describe elements of customer-driven marketing strategy </li></ul><ul><li>List the marketing management functions </li></ul>
  3. 3. <ul><li>Disney has grown via diversification. </li></ul><ul><li>Originally known for films, animation, theme parks. </li></ul><ul><li>Satisfying the customer is everyone’s job. </li></ul>Case Study Disney –What are its challenges? <ul><li>Discussion Questions </li></ul><ul><li>Has Disney grown too large? </li></ul><ul><li>Will consumers accept new Disney businesses? </li></ul>
  4. 4. What is Strategic Planning? <ul><li>Strategic Planning Defined: </li></ul><ul><ul><li>The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities </li></ul></ul>Goal 1: Explain strategic planning
  5. 5. Marketing Management <ul><li>A mission statement asks.. </li></ul><ul><ul><li>What is our business? </li></ul></ul><ul><ul><li>Who is the customer? </li></ul></ul><ul><ul><li>What do consumers value? </li></ul></ul><ul><ul><li>What should our business be? </li></ul></ul><ul><li>A mission statement should be: </li></ul><ul><ul><li>An “invisible hand” </li></ul></ul><ul><ul><li>Neither too narrow nor too broad </li></ul></ul><ul><ul><li>Fitting of market environment </li></ul></ul><ul><ul><li>Based on distinctive competencies </li></ul></ul><ul><ul><li>Motivating </li></ul></ul>Market-Oriented Mission Goal 1: Explain strategic planning
  6. 6. The Business Portfolio <ul><li>A business portfolio is the collection of businesses and products that make up the company </li></ul><ul><li>Business portfolio planning involves two steps: </li></ul><ul><ul><li>Analyzing the current business portfolio </li></ul></ul><ul><ul><li>Shaping the future portfolio by developing strategies </li></ul></ul>Goal 2: Describe business portfolios and growth strategies
  7. 7. Marketing Management <ul><li>Build </li></ul><ul><ul><li>Increase market share </li></ul></ul><ul><ul><li>Works well for question marks </li></ul></ul><ul><li>Hold </li></ul><ul><ul><li>Preserve market share </li></ul></ul><ul><ul><li>Good for cash cow </li></ul></ul><ul><li>Harvest </li></ul><ul><ul><li>Increases short-term cash flow </li></ul></ul><ul><ul><li>Good for weak cash cows, question marks and dogs </li></ul></ul><ul><li>Divest </li></ul><ul><ul><li>Sell or liquidate </li></ul></ul><ul><ul><li>Good for dogs and question marks </li></ul></ul>Analyzing the Current Business Portfolio Goal 2: Describe business portfolios and growth strategies
  8. 8. Marketing’s Role in Strategic Planning <ul><li>Provide a guiding philosophy </li></ul><ul><li>Identify attractive opportunities </li></ul><ul><li>Design effective strategies </li></ul><ul><li>Build strong value chains </li></ul><ul><li>Form superior value delivery networks </li></ul>Goal 3: Detail marketing's role in strategic planning
  9. 9. <ul><ul><li>Customers grouped by: </li></ul></ul><ul><ul><ul><li>Geographic </li></ul></ul></ul><ul><ul><ul><li>Demographic </li></ul></ul></ul><ul><ul><ul><li>Psychographic </li></ul></ul></ul><ul><ul><ul><li>Behavioral </li></ul></ul></ul><ul><ul><li>Market segment is a groups of consumers who respond in similar ways to marketing efforts. </li></ul></ul>Marketing Strategy <ul><li>Market Segmentation </li></ul><ul><li>Target marketing </li></ul><ul><li>Market Positioning </li></ul>Strategy Goal 4: Describe elements of customer-driven strategy
  10. 10. <ul><ul><li>Evaluation of each segment’s attractiveness </li></ul></ul><ul><ul><li>Selection of segments with greatest long-term profitability </li></ul></ul><ul><ul><li>A company can choose one or several segments to target </li></ul></ul>Marketing Strategy Strategy Goal 4: Describe elements of customer-driven strategy <ul><li>Market Segmentation </li></ul><ul><li>Target marketing </li></ul><ul><li>Market Positioning </li></ul>
  11. 11. <ul><ul><li>The place the product occupies in the consumer’s mind </li></ul></ul><ul><ul><li>Products are positioned relative to competing products </li></ul></ul><ul><ul><li>Marketers look for clear, distinctive and desirable place in positioning </li></ul></ul>Marketing Strategy Strategy Goal 4: Describe elements of customer-driven strategy <ul><li>Market Segmentation </li></ul><ul><li>Target marketing </li></ul><ul><li>Market Positioning </li></ul>
  12. 12. Marketing Mix <ul><li>The marketing mix includes controllable and tactical marketing tools knows as the 4P’s </li></ul><ul><li>The 4P’s include </li></ul><ul><ul><ul><li>Product </li></ul></ul></ul><ul><ul><ul><li>Place </li></ul></ul></ul><ul><ul><ul><li>Promotion </li></ul></ul></ul><ul><ul><ul><li>Price </li></ul></ul></ul>Goal 4: Describe elements of customer-driven strategy
  13. 13. <ul><ul><li>Finding opportunities </li></ul></ul><ul><ul><li>Avoiding threats </li></ul></ul><ul><ul><li>Understanding strengths </li></ul></ul><ul><ul><li>Analyzing weaknesses </li></ul></ul>Managing the Marketing Effort Goal 5: List the marketing management functions <ul><li>Analysis </li></ul><ul><li>Planning </li></ul><ul><li>Implementation </li></ul><ul><li>Control </li></ul>Marketing Functions
  14. 14. <ul><ul><li>Marketing plans include: </li></ul></ul><ul><ul><ul><li>Executive summary </li></ul></ul></ul><ul><ul><ul><li>Analysis of current situation </li></ul></ul></ul><ul><ul><ul><li>Objectives </li></ul></ul></ul><ul><ul><ul><li>Targets and positioning </li></ul></ul></ul><ul><ul><ul><li>Marketing mix </li></ul></ul></ul><ul><ul><ul><li>Budget </li></ul></ul></ul><ul><ul><ul><li>Controls </li></ul></ul></ul>Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions <ul><li>Analysis </li></ul><ul><li>Planning </li></ul><ul><li>Implementation </li></ul><ul><li>Control </li></ul>
  15. 15. <ul><ul><li>Plans are turned into action with day-to-day activities </li></ul></ul><ul><ul><li>Good implementation is a challenge </li></ul></ul>Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions <ul><li>Analysis </li></ul><ul><li>Planning </li></ul><ul><li>Implementation </li></ul><ul><li>Control </li></ul>
  16. 16. <ul><ul><li>Evaluation of the results of marketing strategies </li></ul></ul><ul><ul><li>Checks for differences between goals and performance </li></ul></ul>Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions <ul><li>Analysis </li></ul><ul><li>Planning </li></ul><ul><li>Implementation </li></ul><ul><li>Control </li></ul>
  17. 17. Measuring Effectiveness <ul><li>Return on marketing (marketing ROI) </li></ul><ul><ul><li>The net return from a marketing investment divided by the costs of the investments </li></ul></ul>Goal 5: List the marketing management functions

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