The document outlines the key elements of developing a marketing strategy and marketing plan, including: 1) Defining the mission and conducting a SWOT analysis to assess strengths, weaknesses, opportunities, and threats. 2) Identifying customer groups to target using segmentation, targeting, and positioning. 3) Implementing the marketing mix of product, price, place, and promotion to increase customer value. 4) Evaluating performance using marketing metrics and growing the business through strategies like market penetration, market development, product development, and diversification.

1. chapter
two
developing
marketing strategies
and a marketing plan
McGraw-Hill/Irwin
Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

2. Developing Marketing Strategies
and a Marketing Plan
LEARNING OBJECTIVES
LO1
LO2
LO3
LO4
Define a marketing strategy.
Describe the elements of a marketing plan.
Analyze a marketing situation using SWOT analyses.
Describe how a firm chooses which consumer group(s)
to pursue with its marketing efforts.
LO5 Outline the implementation of the marketing mix as a
means to increase customer value.
LO6 Summarize portfolio analysis and its use to evaluate
marketing performance.
LO7 Describe how firms grow their business.
2-2

3. Sustainable Competitive Advantage
2-3

4. The Marketing Plan
2-4

5. Planning
Getty Images/Digital Vision
Comstock Images/Almay
Ryan McVay/Getty Images
Three Phases of a Strategic Plan
Implementing
Controlling
2-5

6. Step One: Defining the
Mission and/or Vision
MADD mission statement:
MADD strives to stop drunk driving, support
the victims of this violent crime and prevent
underage drinking.
2-6

7. Step Two: Conduct a
Situation Analysis Using SWOT
2-7

8. Step Three: Identifying and Evaluating
Opportunities Using STP
Segmentation
Targeting
Positioning
Courtesy The Hertz Corporation
2-8

9. Step Four: Implement Marketing Mix
and Allocate Resources
Courtesy Bel Brands USA
2-9

10. Product and Value Creation
• Successful products
and services are those
that customers
perceive as valuable
enough to buy.
Courtesy Amazoncom
2-10

11. Price and Value Capture
• Price must allow for
customers to perceive
good value for the
product they receive.
2-11

12. Place and Value Delivery
• The product must be
readily accessible
• Why is this retailer
growing?
Courtesy Sephora USA, Inc
2-12

13. Promotion and Value Communication




©Lars A Niki

Television
Radio
Magazines
Sales force
New Media
McGraw-Hill Companies, Inc/Gary He, photographer
The McGraw-Hill Companies, Inc/Jill Braaten, photographer
The McGraw-Hill Companies, Inc/John Flournoy, photographer
2-13

14. Step Five: Evaluate Performance
Using Marketing Metrics
P&G Website
2-14

15. Growth Strategies
Market Penetration
• Existing marketing
mix
• Existing customers
• In what way is a sale a
Market penetration
strategy?
Ryan McVay/Getty Images
2-15

16. Growth Strategies
Market Development Strategy
What can a company do to
continue to grow in a
difficult retail
environment?
Frederic J Brown/AFP/Getty Images
2-16

17. Growth Strategies
Product Development
Used with permission by MTV 2010 MTV Networks All Rights Reserved
MTV, all related titles, characters and logos are trademarks owned by
MTV Networks, a division of Viacom International Inc.
2-17

18. Growth Strategies
Diversification
Photo by Joe Scarnici/WireImage/Getty Images
2-18