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Strategic Marketing New 1

The document outlines the strategic planning process in marketing, emphasizing the alignment of organizational goals with market opportunities. It details steps such as defining the company mission, setting objectives, designing a business portfolio, and planning marketing strategies. Additionally, it discusses growth strategies, the marketing mix, and the components of a marketing plan.

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preethiramesh0611
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2 views25 pages

Strategic Marketing New 1

The document outlines the strategic planning process in marketing, emphasizing the alignment of organizational goals with market opportunities. It details steps such as defining the company mission, setting objectives, designing a business portfolio, and planning marketing strategies. Additionally, it discusses growth strategies, the marketing mix, and the components of a marketing plan.

Uploaded by

preethiramesh0611
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Strategic Planning and the

Marketing Process
Strategic Planning

The process of developing and maintaining a strategic fit


between the organization’s goals and capabilities and its changing
marketing opportunities. It involves defining a clear company
missions, setting supporting objectives, designing a sound business
portfolio, and coordinating functional strategies.
Steps in strategic planning

• Defining the company mission


• Setting company objectives and
goals
• Designing the business portfolio
• Planning marketing and other
functional strategies.
Defining the Company Mission
Mission statement

A Statement of the organization’s purpose-what it wants


to accomplish in the larger environment.
Example:

Google mission – “ To organize the world’s information and


make it universally accessible and useful”
HUL Mission Statement
‘ our mission at Hindustan Unilever is to meet
to everyday needs of people everywhere in
India. We stand committed to continuously
improving the quality of life of each and every
Indian. Because ultimately, our future is closely
linked to the future to every Indian home and
the housewives who run them.’
Setting company objectives and goals
Market oriented business definitions
Company Product –Oriented Definition Market Oriented Definition
Revlon We make cosmetics. We sell lifestyle and Self expression;
success and statues; memories, hopes,
and dreams.
Disney We run theme parks We provide fantasies and entertainment
– a place where America still works the
way it’s supposed to.
Wal-Mart We run discount stores. We offer products and services that
deliver value to Middle Americans.
Xerox We make copying, fax, and We make businesses more productive
other office machines by helping them scan, store, retrieve,
revise, distribute, print, and publish
documents.
Designing the business portfolio
A unit of the company that has a separate mission
and objectives and that can be planned independently
from other company businesses. An SBU can be a
company division, a product line within a division, or
sometimes single product or brand.

A) Analysing the current business portfolio


• BCG Approach
• GE Approach
B) Developing strategies for growth and downsizing
• ANSOFF business grid
ANSOFF business grid

Existing New
Products products

Existing 3. Product
1. Market
Markets Penetration development

New 2. Market 4. Diversification


Markets Development
Developing Growth Strategies

Product / market expansion grid


A portfolio-planning tool for identifying company
growth opportunities through market penetration, market
development, product development or diversification.

Market Penetration
A Strategy for company growth by increasing sales
of current products to current market segment without
changing the product.
Market Development
A Strategy for company growth by identifying and
developing new market segments for current company
products.

Product Development
A Strategy for company growth by offering modified
or new products to current market segment. Developing the
product concept into a physical product in order to ensure
that the product idea can be turned into a workable product.
Diversification
A Strategy for company growth by starting up or
acquiring businesses outside the company’s current
products and markets.
Assessing Growth Opportunities
Organization and organization culture

Marketing innovation
Planning marketing and other
functional strategies.
1. Partnering with other company
departments
a) Value chain
The series of departments that carry out
value-creating activities to design,
produce, market, deliver, and support a
firm’s products.

Contd.
2. Partnering with others in the marketing
system.
a) Value delivery network:
The network made up of the company,
suppliers, distributers and , ultimately,
customers who “partner” with each other
to improve the performance of the entire
system

Contd.
Marketing strategy and the
marketing Mix

1. Customer-driven marketing strategy


2. Developing and integrated marketing
mix
Customer-driven marketing
strategy

Market segmentation
• Dividing a market into distinct groups of buyers on the
basis of needs, characteristics, or behavior who might
require separate products or marketing mixes.

Market targeting
• The process of evaluating each market segment’s
attractiveness and selecting one or
more segments to enter.
Market Positioning
Arranging for a product to occupy a clear,
distinctive, and desirable place relative to competing
products in the minds of target consumers.

Camlin Permanent Marker


Developing the Marketing mix
Product Place
Product variety Channels
Quality Coverage
Design Assortments
Features Marketing Locations
Brand name Mix Inventory
Packaging Transport
Sizes
Services
Warranties Price Promotion
Returns List Price Sales Promotion
Discounts Advertising
Allowances Sales force
Payment Period Public relations
Credit terms Direct Marketing
Developing the Marketing Mix
Marketing Mix
• The set of controllable tactical marketing tools- product,
price, place, and promotion- that the firm blends to produce
the response it wants in the target market.

Product
• Product means the goods –and – service combination the
company offers to the target market. Thus, a Ford
Taurus product consists of nuts and bolts, spark plugs,
pistons, head lights, and thousands of other parts. Ford
offers several Taurus styles and dozens of optional
features. The car comes fully serviced and with a
comprehensive warranty that is as much a part of the
product as the tailpipe.
Price

• Price is the amount of money customers have to pay to


obtain the product. Ford calculates suggested retail
prices that its dealers might charge for each Taurus. But
Ford dealers rarely charge the full sticker price. Instead,
they negotiate the price with each customer, offering
discounts, trade-in allowances, and credit terms to adjust
for the current competitive situation and to bring the price
into line with the buyer’s perception of the car’s value.
Place
• Place includes company activities that make the product
available to target consumers. Ford maintains a large
body of independently owned dealerships that sell the
company’s many different models. Ford selects its dealers
carefully and supports them strongly. The dealers keep
an inventory of ford automobiles, demonstrate them to
potential buyers, negotiate prices, close sales, and service
the care after the sale.
Promotion
• promotion means activities that communicate the merits
of the product and persuade target customers to buy it.
Ford spends more than $1.1 billion each year on
advertising to tell consumers about the company and its
products. Dealership salespeople assist potential buyers
and persuade them that Ford is the best car for them.
Ford and its dealers offer special promotions-sales, cash
rebates, low financing rates- as added purchase
incentives.
The Nature and Contents of a Marketing Plan

• Executive summary and table of contents


• Situational analysis
• Marketing strategy
• Marketing tactics
• Financial projection
Cont...
• The role of research

• The role of relationship

• From marketing plan to marketing action

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