Transcript DEVELOPING MARKETING STRATEGIES AND A

McGraw-Hill/Irwin
Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
DEVELOPING MARKETING STRATEGIES
AND A MARKETING PLAN
LEARNING OBJECTIVES

How does a firm set up a marketing plan?

How are SWOT analyses used to analyze the marketing
situation?

How does a firm choose what group(s) of people to pursue with
its marketing efforts?

How does the implementation of the marketing mix increase
customer value?

How can firms grow their businesses?
2-2
Dunkin’ Donuts versus Starbucks
Dunkin’ Donuts Commercial
2-3
Sustainable Competitive Advantage
2-4
Which of the following is likely to be source
of a sustainable competitive advantage?
A.
Supply Chain Efficiency
B.
Brand Name
C.
Customer Satisfaction
D.
Patented Technology
E.
All Of The Above
2-5
Customer Excellence
Retaining loyal
customers
Customer service
Virgin Atlantic Website
2-6
Operational Excellence
Efficient
operations
Excellent
supply chain
management.
2-7
New Balance –
Can America Compete?
2-8
Product Excellence
2-9
Locational Excellence

How does Rachael Ray
as a spokesperson tie
into locational
excellence?
2-10
Check Yourself
1.
What are the various components of a
marketing strategy?
2.
List the four macro strategies that can
help a firm develop a sustainable
competitive advantage.
2-11
The Marketing Plan
2-12
Vince works as a waiter at many business functions. GRIPO insurance
company has just had their annual meeting and left behind copies of their
marketing plan. Vince opens a copy of the plan. Which of the following would
Vince NOT expect to find in GRIPO’s marketing plan?
A.
A situation analysis
B.
Opportunities for the firm
C.
Perceived threats to the firm
D.
Marketing objectives
E.
Sales representatives’ résumés
2-13
Three Phases of a Strategic Plan
Planning
Implementing
Controlling
2-14
Step One: Defining the Mission
and/or Vision
MADD mission statement:
MADD strives to stop drunk driving, support the
victims of this violent crime and prevent underage
drinking.
2-15
MADD Promotion
2-16
Step Two: Conduct a Situation
Analysis Using SWOT
2-17
When conducting a SWOT analysis, a company
will assess all of the following EXCEPT:
A.
Strengths
B.
Threats
C.
Weaknesses
D.
Opportunities
E.
Strategies
2-18
Step Three: Identifying and
Evaluating Opportunities Using STP
Segmentation
Targeting
Positioning
2-19
Disney:
Segmentation, Targeting, Positioning
Magic Kingdom
Pleasure Island
Epcot
Families w/younger kids
Singles and Couples
Adults, families w/older kids
2-20
Power of the Internet

Building Brand evangelists
online

Real Beauty campaign

Dove evolution viral video
Dove “Real Beauty” Commercial
2-21
Step Four: Implement Marketing Mix
and Allocate Resources
Product
Price
Value Creation
Value Capture
Place
Promotion
Value
Communication
Value Delivery
2-22
Price and Value Capture
Competitor-based
pricing
Cost-based pricing
Value-based pricing
2-23
Place and Value Delivery

The product must be
readily accessible

Why is this retailer
growing?
2-24
Promotion and Value
Communication





Television
Radio
Magazines
Sales force
New Media
2-25
Step Five: Evaluate Performance and
Make Adjustments
P&G Website
2-26
Brian is reviewing the performance of his franchised clothing store. Being a
franchise he has access to comparative data from other stores. Brian will likely
look at all of the following types of data EXCEPT:
A.
Sales
B.
Gross margin
C.
Number of customers
D.
Coupon redemption
E.
Regulatory
2-27
Check Yourself
1.
What are the five steps in creating a
marketing plan?
2.
What tool helps a marketer conduct a
situation analysis?
3.
What is STP?
2-28
Growth Strategies
2-29
Which of the following is NOT one of the four major
growth strategies marketers typically pursue?
A.
Market penetration
B.
Market development
C.
Customer detention
D.
Diversification
E.
Product development
2-30
Market Penetration

Existing marketing mix

Existing customers

In what way is a sale a
Market penetration
strategy?
Cartier Website
2-31
Market Development Strategy
What can a company do to
continue to grow in a
difficult retail environment?
2-32
Product Development
Disney Fairy Tale Weddings
New product or service
Current target market
2-33
Game On – Clash of the Video
Games
2-34
Diversification
FedEx acquires Kinko’s
New product or service
New market segment
2-35
Check Yourself
1.
What are the four growth strategies?
2.
What type of strategy is growing the
business from existing customers?
3.
Which strategy is the riskiest?
2-36
Scenario Planning
2-37
Check Yourself
1.
Identify the steps of the scenario planning
process
2.
How is scenario planning used in a firm?
2-38
Glossary
Customer excellence is achieved when a firm
develops value-based strategies for retaining loyal
customers and provides outstanding customer
service.
Return to slide
2-39
Glossary
A diversification strategy introduces a new product
or service to a market segment that currently is
not served.
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2-40
Glossary
Locational excellence occurs by having a good
physical location and Internet presence.
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2-41
Glossary
A market development strategy employs the
existing marketing offering to reach new market
segments, whether domestic or international.
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2-42
Glossary
A market penetration strategy employs the existing
marketing mix and focuses the firm’s efforts on
existing customers.
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2-43
Glossary
A marketing plan is a written document composed
of an analysis of the current marketing situation,
opportunities and threats for the firm, marketing
objectives and strategy specified in terms of the
four P’s, action programs, and projected or proforma income (and other financial) statements.
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2-44
Glossary
A mission statement is a broad description of a
firm’s objectives and the scope of activities it
plans to undertake.
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2-45
Glossary
Operational excellence is achieved through
efficient operations and excellent supply chain
and human resource management.
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2-46
Glossary
A product development strategy offers a new
product or service to a firm’s current target
market.
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2-47
Glossary
Product excellence occurs by having products with
high perceived value and effective branding and
positioning.
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2-48
Glossary
Scenario planning integrates information obtained
as part of the situation and opportunity analysis
steps of the marketing plan to better understand
the potential performance outcomes associated
with different marketing mix applications.
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2-49
Glossary
A situation analysis uses a SWOT analysis that
assesses both the internal environment with
regard to its Strengths and Weaknesses and the
external environment in terms of its
Opportunities and Threats.
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2-50
Glossary
STP stands for segmentation, targeting, and
positioning, and is used to identify and evaluate
opportunities for increasing sales and profits.
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2-51
Glossary
A sustainable competitive advantage is an
advantage over the competition that is not easily
copied, and thus can be maintained over a long
period of time.
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2-52