The document outlines the key elements of developing an effective marketing strategy and plan. It discusses identifying a sustainable competitive advantage and target market. It then describes four macro strategies for developing customer value: customer excellence, operational excellence, product excellence, and locational excellence. The document also outlines the five steps in developing a strategic marketing plan: defining business objectives and mission, conducting a situation analysis, identifying and evaluating opportunities, implementing the marketing mix, and evaluating performance. Finally, it discusses different growth strategies like market penetration, product development, diversification, and market development.

1. Marketing Strategy
and Marketing Plan
By: Olivia Barnett

2. A Marketing Strategy Identifies…
Marketing Mix
(it’s Four Ps)
02
Sustainable
Competitive
Advantage
03
A Firms Target
Market
01
SOMETHING THE FIRM
CAN PERSISTENTLY DO
BETTER THAN ITS
COMPETITORS.
1. PRODUCT
2. PRICE
3. PROMOTION
4. PLACE
THE SPECIFIC GROUP
OF CONSUMERS A
PRODUCT OR SERVICE
IS AIMED TOWARD.

3. Customer
Excellence:
4 Macro Strategies for Developing
Customer Value
Locational
Excellence:
Operational
Excellence:
Product Excellence:
Efficient operations,
supply chain, and human
resource management.
Focuses on retaining loyal
customers and excellent
customer service.
Having products with high
perceived value and
effective branding and
positioning.
Having a good physical
location and Internet
presence.
Customer
Value
Customer
Excellence
Operational
Excellence
Product
Excellence
Locational
Excellence

4. Step 1:
Define the
Business
Mission and
Objectives
Step 2:
Conduct a
Situation
Analysis
Step 3:
Identify and
Evaluate
Opportunities
Step 4:
Implement
Marketing
Mix and
Allocate
Resources
Step 5:
Evaluate
Performance
Using
Marketing
Metrics
Steps of
Strategic
Marketing
Plan

5. Step 1: Define the
Business Mission
and Objectives
Mission Statement
 FIRM’S OBJECTIVES
 SCOPE OF ACTIVITIES IT PLANS TO
UNDERTAKE
 ANSWERS : WHAT TYPE OF BUSINESS IS
IT? AND WHAT DOES IT NEED TO DO TO
ACCOMPLISH ITS GOALS AND OBJECTIVES?
WHAT DO WE NEED TO DO TO ACCOMPLISH
THOSE OBJECTIVES?

6. Step 2: Conduct a
Situation Analysis
SWOT Analysis
Strengths - positive attributes
Weaknesses - negative attributes
Opportunities - positive aspects
Threats - negative aspects
Assess using SWOT Analysis

7. Step 3:
Identify and
Evaluate
Opportuniti
es
Segmentation
Targeting
Positioning
DIVIDE THE MARKET INTO DIFFERENT GROUPS
DETERMINE WHICH GROUP TO TARGET OR
PURSUE
DETERMINE HOW TO POSITION
PRODUCTS/SERVICES TO MEET THE NEEDS
OF THE TARGET MARKET

8. Step 4:
Implement
Marketing
Mix
DEVELOP PRODUCTS
AND
SERVICE CONSUMERS
WILL BUY
SET PRICE THAT
CONSUMER PERCEIVE
AS GOOD VALUE FOR
THE PRODUCT THEY
RECEIVE
MAKE THE PRODUCT
READILY AVAILABLE
WHEN AND WHERE A
CONSUMER WANTS IT
USE OF A VARIETY OF
COMMUNICATION
DISCIPLINES TO
PROMOTE A PRODUCTS
OR SERVICES VALUE.

9. Step 5:
Evaluate
Performanc
e Using
Marketing
Metrics
Evaluation
EVALUATE THE RESULTS OF THE
STRATEGY AND IMPLEMENTATION
PROGRAM USING MARKETING
METRICS (MEASURING SYSTEM
THAT QUANTIFIES A TREND,
DYNAMIC, OR CHARACTERISTIC).

10. GROWTH STRATEGIES
Market
Penetration
Product
Development
Diversification
Market
Development
EMPLOYS THE EXISTING
MARKETING MIX AND FOCUSES
ON THE FIRM’S EFFORTS ON
EXISTING CUSTOMERS.
INTRODUCES NEW PRODUCT
OR SERVICE TO A FIRM’S
CURRENT TARGET MARKET.
EMPLOYS THE EXISTING
MARKETING OFFERING TO REACH
NEW MARKET SEGMENTS,
WHETHER DOMESTIC OR
INTERNATIONAL.
INTRODUCES A NEW
PRODUCT OR SERVICE TO A
MARKET SEGMENT THAT IS
NOT YET AVAILABLE.