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Chapter 2

Chapter 2. Strategic Planning and the Marketing Process. What is Marketing Planning?. Planning: Anticipating future events and conditions and determining the courses of action necessary to achieve organizational objectives Marketing planning. Mission/Goal Statement. Corporate Strategy.

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Chapter 2

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  1. Chapter 2 Strategic Planning and the Marketing Process

  2. What is Marketing Planning? • Planning: Anticipating future events and conditions and determining the courses of action necessary to achieve organizational objectives • Marketing planning

  3. Mission/Goal Statement Corporate Strategy SBU Strategy Marketing Strategy Marketing Mix Elements • Strategic Marketing Planning Levels

  4. Kraft • Adding Products to Increase Market Share

  5. GM Ads Strengthen Relationships With Women Car Buyers

  6. Strategic Planning versus Tactical Planning • Strategic planning • Tactical planning

  7. Planning at Different Organizational Levels • Top managers • Middle level managers • Supervisors

  8. Steps in the Marketing Planning Process

  9. Defining the Organization’s Mission • Mission: the essential purpose that differentiates one company from another

  10. Crest • Education Programs: Part of Procter & Gamble’s Mission to Improve the Lives of Consumers

  11. Determining Organizational Objectives • An organization lays out its basic objectives, or goals, in its mission statement • These objectives guide development of supporting marketing objectives and plans

  12. Assessing Organizational Resources and Evaluating Environmental Risks and Opportunities • SWOT analysis: The study of a firm’s internal strengths and weaknesses and external opportunities and threats • Strategic window: a limited period with an optimal fit between the market and the firm

  13. SWOT is an acronym for strengths, weaknesses, opportunities, and threats

  14. Taking Advantage of a Strategic Window • Growth in Internet Creates a Strategic Window for HydrogenMedia

  15. Formulating a Marketing Strategy • Marketing strategy: a firm’s overall program for selecting and satisfying a target market • Requires a careful balance of the marketing mix elements – each of which represents a subset of the overall marketing strategy

  16. This advertisement shows the Chrysler auto lineup including the highly successful PT Cruiser. Each product offering targets a specific market segment.

  17. Elements of a Marketing Strategy • Blending the four strategy elements of marketing decision-making to satisfy chosen target markets • Product • Price • Distribution • Promotion

  18. Target Market • Group of people toward whom the firm decides to direct its marketing efforts

  19. Product Strategy • What goods or services to offer • Customer service • Package design • Brand names • Trademarks • Warranties • Product Life Cycle • Positioning • New-product development

  20. Product Strategy: The cell phone is now positioned to compete directly with land-lines as shown in this AT&T advertisement.

  21. Ad Stressing a New Package Design (Part of the Total Product)

  22. Elements of the Champion Product Strategy

  23. Distribution Strategy • Modes of transportation • Warehousing • Inventory control • Order processing • Marketing channels

  24. This Ad illustrates the Challenges of Finding Distribution for your Product.

  25. Promotional Strategy • Blending together the various elements of promotion to communicate most effectively with the target market • advertising • sales promotion • public relations • personal selling

  26. This advertising campaign communicates effectively with its Target Market

  27. Advertising As a Part of the Pepto-Bismol Promotional Strategy

  28. Pricing Strategy • Deals with the methods of setting profitable and justifiable prices • The Marketing Environment • Competitive • Social – Cultural • Technological • Economic • Political – Legal

  29. The Competitive Environment, as well as, changes in Technology, has influenced the way these two competitors differentiate their product offerings.

  30. TOYOTAAd Promotes a Product Developed for the Changing Legal and Social-Cultural Environments

  31. Tools for Marketing Planning • Strategic Business Units (SBUs) are key business units within diversified firms • A division, product line, or single product may define an SBU • Firms redesign their SBUs as market conditions dictate

  32. 3M • Tape Products: A 3M Strategic Business Unit

  33. Market Share/ Market Growth Matrix: Classifies a firm’s products according to industry growth rates and market shares relative to competing products • Market Attractiveness/Business Strength Matrix: Rates SBUs according to the attractiveness of their markets and their organizational strengths

  34. Market Share/ Market Growth Matrix

  35. Market Attractiveness/Business Strength Matrix

  36. Spreadsheet analysis helps planners anticipate marketing performance given specified sets of circumstances

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