copyright © 2003 prentice-hall, inc. 1 developing marketing strategies and plans
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1Copyright © 2003 Prentice-Hall, Inc.
Developing Marketing Developing Marketing Strategies and PlansStrategies and Plans
2Copyright © 2003 Prentice-Hall, Inc.
What is Strategy ? A Voyage on the Ocean
Controls
Objective
StrategyFormulation
Tactics
StrategicAnalysis
x
StrategicOption x
3Copyright © 2003 Prentice-Hall, Inc.
• Objective : To get from Copenhagen to Helsingborg as fast as possible and as cheaply as possible
• Strategic AnalysisDeparture point / Prices / Weather conditions / Sea conditions /
Traffic conditions / Departure times / Duration of journey ….
• Allocated ResourcesBusiness Expenses
• Strategic Options : Bus? Rental car? Taxi? Helicopter shuttle? Boat? ….
• Strategy : Take the helicopter shuttle
• Tactics : Choose departure time / Prepare luggage / Buy ticket / Take earplugs / Board the helicopter / Fasten seat belt …..
Example
4Copyright © 2003 Prentice-Hall, Inc.
Business Example
OBJECTIVESOBJECTIVES STRATEGYSTRATEGY TACTICSTACTICS
PURPOSEPURPOSE Set ultimate Set ultimate objectivesobjectives
Meet ultimate Meet ultimate objectivesobjectives
Meet contributing Meet contributing sub-objectivessub-objectives
ACTIVITYACTIVITY Think / DoubtThink / Doubt Think / DoubtThink / Doubt Act / BelieveAct / Believe
TIME HORIZONTIME HORIZON Longer termLonger term Long termLong term Short termShort term
MAGNITUDE OFMAGNITUDE OF
EFFECTSEFFECTSLarger amplitudeLarger amplitude Large amplitudeLarge amplitude Small amplitudeSmall amplitude
EXAMPLEEXAMPLE
(ONE STRATEGIC (ONE STRATEGIC THRUST)THRUST)
Improve Improve
profitabilityprofitability … …
Gaining a Gaining a
competitive competitive
advantage based advantage based
on lower on lower
production production
costcost … …..
Partnering for Partnering for
economies of scaleeconomies of scaleAcquiring newAcquiring new
manufacturing manufacturing
technologytechnologyImproving change- Improving change-
over costs over costs … …
6Copyright © 2003 Prentice-Hall, Inc.
Corporate and Division Strategic Planning
Defining the Corporate MissionDefining the Corporate Mission Mission statements define which competitive Mission statements define which competitive
scopes the company will operate inscopes the company will operate in Industry scopeIndustry scope Products and applications scopeProducts and applications scope Competence scopeCompetence scope Market-segment scopeMarket-segment scope Vertical scopeVertical scope Geographical scopeGeographical scope
7Copyright © 2003 Prentice-Hall, Inc.
Mission Statements
Fast Food Industry
To make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products.
Ben & Jerry‘s
To satisfy the world's appetite for good food, well served, at a price people can afford.
McDonald’s
8Copyright © 2003 Prentice-Hall, Inc.
Mission Statement
Great Britain – WWII
Our whole people and empire have vowed themselves to the single task of cleansing Europe of the Nazi pestilence and saving the world from the new dark ages. We seek to beat the life and soul of Hitler and Hitlerism. That alone. That all the time. That to the end.
Winston Churchill, 1941
Collins and Lazier, Managing the Small to Mid-sized Company
9Copyright © 2003 Prentice-Hall, Inc.
Can you name a company that has Can you name a company that has recently changed its product scope recently changed its product scope or market segment scope in a very or market segment scope in a very public way? Was this an expansion public way? Was this an expansion or contraction of scope?or contraction of scope?
10Copyright © 2003 Prentice-Hall, Inc.
Product-Oriented versus Market-Oriented Definitions of a Business
CompanyCompany Product DefinitionProduct Definition Market DefinitionMarket Definition
Missouri-Pacific Missouri-Pacific RailroadRailroad
We run a railroadWe run a railroad We are a people-and-We are a people-and-goods movergoods mover
XeroxXerox We make copying We make copying equipmentequipment
We help improve office We help improve office productivityproductivity
Standard OilStandard Oil We sell gasolineWe sell gasoline We supply energyWe supply energy
Columbia PicturesColumbia Pictures We make moviesWe make movies We market entertainmentWe market entertainment
EncyclopaediaEncyclopaedia We sell encyclopediasWe sell encyclopedias We distribute InformationWe distribute Information
CarrierCarrier We make air We make air conditioners and conditioners and furnacesfurnaces
We provide climate We provide climate control in the homecontrol in the home
11Copyright © 2003 Prentice-Hall, Inc.
Corporate and Division Strategic Planning
BCG MatrixBCG Matrix The General Electric ModelThe General Electric Model
13Copyright © 2003 Prentice-Hall, Inc.
Business Unit Strategic Planning
Business MissionBusiness Mission Example: Southwest AirlinesExample: Southwest Airlines
The mission of Southwest Airlines is The mission of Southwest Airlines is dedication to the highest quality of dedication to the highest quality of Customer Service delivered with a sense Customer Service delivered with a sense of warmth, friendliness, individual of warmth, friendliness, individual pride, and Company Spirit. pride, and Company Spirit.
14Copyright © 2003 Prentice-Hall, Inc.
Business Unit Strategic Planning
SWOT AnalysisSWOT Analysis Internal AnalysisInternal Analysis
Strength and Weakness AnalysisStrength and Weakness Analysis
External Environment Analysis External Environment Analysis Opportunity and Threat AnalysisOpportunity and Threat Analysis
15Copyright © 2003 Prentice-Hall, Inc.
Business Unit Strategic Planning
Porter’s Generic StrategiesPorter’s Generic Strategies Overall cost leadershipOverall cost leadership DifferentiationDifferentiation FocusFocus
16Copyright © 2003 Prentice-Hall, Inc.
Competitive Advantage
Achieved when there is a match between a firm’s distinctive competencies and the factors critical for success within its industry
18Copyright © 2003 Prentice-Hall, Inc.
Product-Market Expansion Grid
Products
Current New
Markets
Current
New
Market Penetration
ProductDevelopment
MarketDevelopment
Diversification
19Copyright © 2003 Prentice-Hall, Inc.
The Business Strategic Planning Process
MissionMission SWOTSWOT Goal formulationGoal formulation Strategy formulationStrategy formulation Program formulationProgram formulation ImplementationImplementation Feedback and controlFeedback and control
20Copyright © 2003 Prentice-Hall, Inc.
Five most common errors of entrepreneurs
1. No realistic goals1. No realistic goals 2. Failure to anticipate roadblocks2. Failure to anticipate roadblocks 3. 3. No commitment or dedicationNo commitment or dedication 4. Lack of demonstrated experience4. Lack of demonstrated experience 5. No market segment(s)5. No market segment(s)
21Copyright © 2003 Prentice-Hall, Inc.
Frank Moyes -Entrepreneurship
Master Teacher
Concept AnalysisConcept Analysis
Business PlanBusiness Plan
http://leeds-faculty.colorado.edu/moyes/bplan/html/sample.html
24Copyright © 2003 Prentice-Hall, Inc.
Product Planning: The Nature and Contents of a Marketing Plan Contents of the Marketing PlanContents of the Marketing Plan
Executive SummaryExecutive Summary Current Marketing SituationCurrent Marketing Situation Opportunity and issue analysisOpportunity and issue analysis ObjectivesObjectives Marketing strategyMarketing strategy Action programsAction programs Financial projectionsFinancial projections Implementation controlsImplementation controls
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