marketing & strategy chapter 2. strategic planning what is it? what is it? “the managerial...
TRANSCRIPT
Marketing & Strategy
Chapter 2
Strategic Planning
What is it? “The managerial process of creating and
maintaining a fit between organizational objectives and resources, and the evolving market opportunities”
Why is it important?
Strategic Planning & Marketing
Planning
Market planning
Market plan
Mission Stateme
nt
Situation Analysis
Objectives
Marketing
Strategy
The Strategic Planning Process
Define the Business’ Mission Conduct a Situation Analysis Establish Marketing Plan Objectives Determine Competitive Advantage Evaluate Strategic Alternatives Describe Target Market Adjust Marketing Mix Follow-up
Define the Business’ Mission
Mission statement What does it do? Examples:
Profit v. Nonprofit companies
Three organization levels Corporate Business unit Functional
Conduct a Situation Analysis
Environmental Scanning
SWOT Analysis
Establish Marketing Plan Objectives
What are you wanting to accomplish?
Marketing objectives Realistic Measurable Time specific Benchmarked
Determine Competitive Advantage
Competitive Advantages
Three basic types Cost leadership Differentiation Niche
Sustainable competitive advantage
Evaluate Strategic Alternatives
Market-Product Analysis Market penetration Product development Market development Diversification
Evaluate Strategic Alternatives
BCG Analysis Two dimensions Four classifications
Cash Cows Stars Question marks Dogs
Source: www.clker.com
?
Evaluate Strategic Alternatives
Four strategies Build Hold Harvest Divest
Source: http://www.designfloat.com
Source: http://www.
cocacolasabco.com
Describe Target Market
Market Strategy
How can we segment?
Adjust Marketing Mix
Product
Price
Place
Promotion
Following Up
Implementation
Evaluation
Control