Transcript Developing and Implementing a Marketing Plan

Strategic Planning:
Developing and Implementing
a Marketing Plan
Objectives
1. Understand the importance of strategic
marketing. Know the outline for a marketing
plan.
2. Define an appropriate business mission
statement.
3. Describe criteria for good marketing objectives.
4. Explain components of a situation analysis.
5. Identify strategic alternates and describe tools to
select them.
The Nature of Strategic Planning
EVOLVING
MARKET
OPPORUNITIES
RESOURCES
&
OBJECTIVES
LONG RUN
PROFITABILITY
AND GROWTH
What is a Marketing Plan?
Planning: Process of anticipating future events and
determining strategies
Marketing
Plan

Marketing planning involves designing activities
relating to marketing objectives and the changing
marketing environment.
For example: product lines, prices, communication
Why?


Clearly stated activities to work toward common goals
Basis for comparison of actual and expected performance
Aware of threats and opportunities
Marketing Plan Elements
Business Mission
Statement
Objectives
Situation or
SWOT Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product
Distribution
Promotion
Price
Implementation
Evaluation
Control
Define the Business Mission

Answers the question:


What business are we in and where are we going?
Example: PepsiCo’s Business Mission
Focuses on the market(s) rather than the good or service

Marketing myopia if focus is on specific goods/service


No clear foundation if focus is too broad


Examples? Frito-Lay is in the snack-food business
Examples? Amazon?
Strategic Business Units may also have a mission
statement – characteristics of a SBU
Back
PepsiCo’s Mission Statement
“To be the world's premier consumer products company
focused on convenient foods and beverages. We seek to
produce healthy financial rewards to investors as we provide
opportunities for growth and enrichment to our employees,
our business partners and the communities in which we
operate. And in everything we do, we strive for honesty,
fairness and integrity.”
http:\\www.pepsico.com
Back
Strategic Business Units
Characteristic
s
1. A distinct mission and specific target market
2. Control over their resources
3. Their own competitors
4. Plans independent of other businesses
Back
Marketing Plan Objectives
Marketing Objectives Must Be:
Realistic
Measurable
For a Defined Period
of Time
Consistent with
Organizational Objectives
Back
“Our objective is to
increase market
share by 40% and to
obtain customer
satisfaction ratings of
at least 90% in 2005.”
Situation Analysis
S
Things the company does well.
Internal
W
Things the company does not do well.
O
Conditions in the external environment
that favor strengths.
External
T
Conditions in the external environment
that do not relate to existing strengths
or favor areas of current weakness.
Opportunities: Strategic Windows
Limited period when the “fit” between key
requirements of a market and competencies of the
firm are optimum
Discovering Strategic Alternatives (Windows)
Market
Penetration
Increase market share among existing customers
Market
Development Attract new customers to existing products
Product
Development Create new products for present markets
Diversification Introduce new products into new markets
Selecting a Strategic Alternative
Common Tools


BCG Portfolio Matrix
Common Goals
Profitability
GE Market Attractiveness
Matrix
Market Share
Differential Advantage

Unique aspects of an organization that cause
target market to patronize firm

A Sustainable Competitive Advantage cannot be
copied by the competition.
Back to The Marketing Process
Differential or Competitive Advantage

A set of unique features of a company & its
products that are perceived by the target market
as significant and superior to the competition


Two basic sources are:
 Superior skills
 Superior resources
A Sustainable Competitive Advantage cannot be
copied by the competition.
Back to The Marketing Process
Marketing Strategy
…involves the activities of selecting and describing one
or more target markets and developing and
maintaining a marketing mix that will produce
mutually satisfying exchanges with target markets.
Marketing Strategy
• Target Market Strategy
–Identify the market segments that are of interest to the firm
–Analyze market based on attractiveness of market
segments
–Select one or more target markets
•The Marketing Mix
–Product Strategies
–Distribution (Place) Strategies
–Promotion Strategies
–Pricing Strategies