Transcript Marketing Strategy Implementation and Control

Strategic Marketing
1. Imperatives for Market-Driven Strategy
2. Markets and Competitive Space
3. Strategic Market Segmentation
4. Strategic Customer Relationship Management
5. Capabilities for Learning about Customers and Markets
6. Market Targeting and Strategic Positioning
7. Strategic Relationships
8. Innovation and New Product Strategy
9. Strategic Brand Management
10. Value Chain Strategy
11. Pricing Strategy
12. Promotion, Advertising and Sales Promotion
Strategies
13. Sales Force, Internet, and Direct Marketing Strategies
14. Designing Market-Driven Organizations
15. Marketing Strategy Implementation And Control
Chapter 15
Marketing Strategy
Implementation
and Control
McGraw-Hill/Irwin
Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
Marketing strategy implementation and control
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The strategic marketing planning process
Implementing the strategic marketing plan
Strategic marketing evaluation and control
Marketing performance measurement
Global issues for planning, implementation
and control
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Marketing strategy implementation and control
* Fiat - strategic turnaround in auto industry
* Debts, losses, market share falling,
reputation for low quality, diversification
* Recovery strategy of radical restructuring,
dismantling management and bureaucracy
* Marketing, operations and R&D overhauled small car focus
* Range of strategic relationships established
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The strategic marketing planning process
* The marketing plan guides
implementation
* Contents of the marketing plan
* Managing the planning process
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Strategy and planning relationships
MARKETING STRATEGY
Annual
Marketing
Planning
Annual
Marketing
Planning
Implementation
Control and Evaluation
Revision
Annual
Marketing
Planning
Implementation
Control and Evaluation
Revision
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MARKETING PLAN OUTLINE
I.
Strategic Situation Summary
Summarize the key points from your situation analysis (market
analysis, segments, industry/competition) in order to recount the
major events and provide information to better understand the
strategies outlined in the marketing plan.
II.
Market-Targets and Objectives
The market target may be defined demographically (key
characteristics only), geographically, or in social/economic terms. Each market target should
have needs and wants that differ to
some degree from other targets. These differences may be with
respect to types of products purchased, use situation, frequency
of purchase, and other variations that indicate a need to alter the
positioning strategy to fit the needs and wants of each target.
An objective is a quantified goal identifying what is expected
when. It specifies the end results expected. The objectives should
be written for each target market. Objectives should also be
included for the following program components: (1) product,
(2) price, (3) distribution, (4) promotion (salesforce, advertising,
sales promotion, and public relations), and (5) technical services.
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MARKETING PLAN OUTLINE
III. Positioning Statements
Write statements that describe how you want each market
target to perceive each product relative to competition. State the
core concept used to position the product (brand) in the eyes and
mind of the targeted buyer. The positioning statement should
describe: (1) What criteria or benefits the customer considers when
buying a product along with the level of importance, (2) What we
offer that differentiates our product from competition, and (3) The
limitations of competitive products.
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IV.
A.
Market Mix Strategy for Each Market Target
Product Strategy
Identify how each product fits the market target. Other issues
that may be addressed would be new product suggestions,
adjustments in the mix of existing products, and product
deletion candidates.
B.
Price Strategy
The overall pricing strategy (I.e., competitive, premium-priced,
etc.) should be identified along with a cost/benefit analysis if
applicable. Identify what role you want price to play, i.e.,
increase share, maintenance, etc.
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IV.
Market Mix Strategy for Each Market Target
C. Distribution Strategy
Describe specific distribution strategies for each market
target. Issues to be addressed are intensity of distribution
(market coverage), how distribution will be accomplished, and
assistance provided to distributors. The role of the sales force
in distribution strategy should also be considered.
D. Promotion Strategy
Promotion strategy is used to initiate and maintain a flow of
communication between the company and the market target.
To assist in developing the communications program, the
attributes or benefits of our product should be identified for
each market target. How our product differs from competition
(competitive advantage) should be listed. The sales force’s
responsibilities in fulfilling the market plan must be integrated
into the promotion strategy. Strategies should be listed for
(1) personal selling, (2) advertising, (3) sales promotion, and
(4) public relations.
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E.
Marketing Research
Describe the market research problem and the kind of
information needed. Include a statement which addresses
why this information is needed. The specific market
research strategies can be written once the above two
steps have been followed.
V.
Coordination with Other Business Functions
Indicate other departments/functions that have
responsibilities for implementing the marketing plan.
VI.
Sales Forecasts and Budgets
VII.
Contingency Plans
Indicate how your plans should be modified if events
should occur that are different from those assumed
in the plan.
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Dimensions of Planning Process
Analytical
Process
Dimension
Marketing
Planning
Process
Behavioral
Process
Dimension
Organizational
Process
Dimension
Techniques
Procedures
Systems
Planning Models
Managerial
perceptions
Participation
Strategic
assumptions
Process
Consistency
Structure
Information
Culture
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Implementing the strategic marketing plan (1)
* Implementation process
* Structural issues
* Behavioral issues
* Building implementation effectiveness
* Organizational design
* Incentives
* Communications
* Internal marketing
* Comprehensive approach to improving
implementation
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Implementation process
Activities to
be implemented
Responsibility for
implementation
IMPLEMENTATION
PROCESS
How implementation
will be done
Time and location
of implementation
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Improving Implementation
Skilled
Implementers
Effective
Communications
Organizational
Design
Improving
Implementation
Internal
Marketing
Incentives
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Internal Marketing
Strategy
Plan
Internal
Marketing
Program
Internal Marketing
Program:
Targeted at key
groups in the
company, alliance
partner companies,
and other influencers
External
Marketing
Program
External Marketing
Program
Targeted at key
customers, segments
and niches, and other
external influencers
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Comprehensive Approach to Improving Implementation
Financial
Measures
Learning
and
Innovation
Measures
BALANCED
SCORECARD
MANAGEMENT
CONTROL
SYSTEM
Customer
Measures
Internal
Business
Process
Measures
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Implementing the strategic marketing plan (2)
* Internal strategy-organization fit
* Organizational stretch
* The role of external organization
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Strategic marketing evaluation and control (1)
* Customer relationship management
* Overview of control and evaluation activities
* Find new opportunities/avoid threats
* Keep performance in line with
expectations
* Solve specific problems
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Evaluation Activities
Find New
Opportunities
or Avoid
Threats
Solve
Specific
Problems
Keep
Performance
on Target
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Evaluation and control
Conduct
strategic
marketing
audit
Select performance
criteria and
choose relevant
marketing metrics
Obtain and
analyze
information
Assess
performance and
take necessary
action
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Strategic marketing evaluation and control (2)
* The strategic marketing audit
* Results provide basis for selecting
performance criteria to assess actual
performance against lans
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Strategic Marketing Audit
Corporate Mission and Objectives
Business Composition and Strategies
Marketing Strategy (for each planning
unit)
Marketing Program Activities
Implementation and Management
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Marketing performance assessment (1)
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The importance of marketing metrics
The use of marketing metrics
Types of marketing metrics
Selecting relevant metrics
Designing a management dashboard
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Marketing metrics (A)
* Marketing metrics focusing on operations
* Competitive and customer metrics
* Profitability metrics
* Product and portfolio metrics
* Customer profitability metrics
* Sales and channel metrics
* Pricing metrics
* Promotion metrics
* Advertising, media and web metrics
* Financial metrics
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Marketing metrics (B)
* Brand equity metrics
* Familiarity
* Penetration
* What they think about the brand
* What they feel
* Loyalty
* Availability
* Innovation metrics
* Strategy
* Culture
* Outcomes
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Marketing metrics (C)
* Internal market metrics
* Awareness of corporate goals
* Perceived caliber of employer
* Relative employee satisfaction
* Commitment to corporate goals
* Employee retention
* Perceived resource adequacy
* Appetite for learning
* Freedom to fail
* Customer-brand empathy
* Internal process metrics
* E.g., internal communications
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Marketing performance assessment (2)
* Interpreting performance measurement results
* Opportunities and performance gaps
* Problem/opportunity definition
* Interpreting information
* Determining normal and abnormal variability
* Deciding what actions to take
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Global issues for planning, implementation and control
* Global marketing planning
* Additional complexity
* Simplifying assumptions
* Limited information availability
* Accommodate international strategy variability
* Implementation globally
* Importance of relationships between domestic
and international executives
* Performance measurement and control globally
* International markets may require different
metrics
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