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Strategic planning and marketing

Strategic planning and marketing . Strategic planning. The process of developing and maintaining a strategic fit between the organization`s goals and capabilities and its changing marketing opportunities. Steps in strategic planning. Defining the company mission.

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Strategic planning and marketing

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  1. Strategic planning and marketing

  2. Strategic planning The process of developing and maintaining a strategic fit between the organization`s goals and capabilities and its changing marketing opportunities.

  3. Steps in strategic planning.. Defining the company mission Setting company objectives and goals Corporate level Designing the business portfolio Planning, marketing and other functional strategies Business unit, Market and product level

  4. Marketing plan • Planning is the process of anticipating future events and determining strategies to achieve organizational objectives in the future. • Marketing planning involves designing activities relating to marketing objectives and the changing marketing environment. • Marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager

  5. Strategic marketing plan • A strategic marketing plan is the document that details the company`s objectives, situation analysis, marketing strategy and the elements of company`s marketing mix.

  6. Element of marketing plan Business mission statement Situation or SWOT analysis Objectives Marketing strategy Target market strategy Marketing mix- P`s Implementation evaluation control

  7. 1. Mission • A statement of the firm business based on careful analysis of benefits sought by present and potential customer and an analysis of existing and anticipating environment. • Marketing Myopia • Strategic business unit

  8. 2. Situation analysis • S- Strength • W- Weakness • O- Opportunities • T- Threat

  9. Competitive Advantage it is a set of unique features of a company and its products that are perceived by target market as significant and superior to the competition. • Cost competitive advantage: • Experience curve • Efficient labour • No frills goods and services • Government subsidies • Product design • Reengineering • Product innovation • New method of service delivery

  10. Cont.. • Niche competitive Advantage: seeks to target and effectively serve a single segment of the market. Eg. Indian coffee house • Building sustainable competitive advantage: that can`t be copied by competitor. Eg. Honda Activa

  11. 3. Objective • It is a statement of what is to be accomplished through marketing activities. • Essentials: • Realistic • Measurable • Time specific • Compared to bench mark

  12. 4. Strategic direction • Strategic alternatives: • Ansoff`s Strategic Opportunity Matrix • Boston consulting group`s matrix • GE Matrix

  13. Ansoff`s Strategic Opportunity Matrix

  14. Boston consulting group`s matrix -----------------Market share dominance------------------- I N D U S T R Y G R O W T H

  15. Industry Attractiveness High Medium Low High INVEST INVEST PROTECT Competitive strength Medium INVEST PROTECT HARVEST Low PROTECT HARVEST DIVEST

  16. Recommended strategies

  17. 5. Describing the target market • Target market: A market segment is a group of individuals or organizations that share one or more characteristics. • Market opportunity analysis (MOA): the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in the market segment, it may target

  18. Marketing mix • It refers to unique blend of product, place (distribution), promotion and pricing strategies designed to produce mutually satisfying exchanges with a target market. • Product mix • Price mix • Place mix • Promotion mix

  19. Following up on the marketing plan • Implementation • Evaluation and control • Marketing audit

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