Marketing Strategies and Marketing Planning

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Information about Marketing Strategies and Marketing Planning
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Published on September 3, 2010

Author: aSGuest51786

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Slide 1: Marketing strategies and marketing planinng Slide 2: Turbulent and dynamic marketplace in 20 & 21 century. Successfully competing in global business environment requires market-driven strategies that are responsive to customers´ needs & wants. Designing effective business & marketing strategies is critical to global Why Managing Strategic Marketing? Why Strategic Market Management? : Why Strategic Market Management? Precipitate the consideration of strategic choices. Force a long-range view. Make visible the resource allocation decision. Aid strategic analysis and decision making. Provide a strategic management and control system. Provide both horizontal and vertical communication and coordination systems. Help a business cope with change. Implementation and Control Slide 4: 1. Dynamics business arena – market changes – creating of opportunity and avoiding threats = key success requirement (cheap or safe tires?) Demographic changes, New segments & new needs World marketplace – more opportunities Time as a competitive advantage – to be faster (Bako,1982) Change as opportunity (chaos is not problem, it is opportunity) – It needs scanning and understanding of customer needs, supplier, demographic & technological trends It needs establish more adoptive & flexible organization It needs to have good vision It needs market awareness of managers Requirements for designing effective business and marketing strategies Slide 5: 2. Creating closer to the customer – customer's satisfaction requires understanding his needs Making customer satisfaction a top priority Improving customer communication & knowledge Beefing up service support & field linkage Implementing a customer oriented philosophy Successful company has satisfied customers Customer satisfaction requires monitoring of needs Requirements for designing effective business and marketing strategies Slide 6: 2. Creating closer to the customer – customer's satisfaction requires understanding his needs Factors impacting customer satisfaction Product/service delivery system – good integrated and coordinated distribution chains – all members must... Product/service performance & reliability (quality) = customer satisfaction Brand/firm image – good experience of customer with brand = competitive advantage Price/value relationship – Lexus vs. BMW v USA Employees´ level of performance – way for achieving of customer satisfaction Competitor advantages & weaknesses = how to be better Requirements for designing effective business and marketing strategies Slide 7: 2. Creating closer to the customer – customer's satisfaction requires understanding his needs Finding competitive advantage (CA): Start with customer needs & wants, different strategy for different segment Define how satisfy these needs & wants – the rule of all employees To meet firm objectives by deliver customer satisfaction CA – higher value – with higher price & equivalent benefits or unique benefits with higher price Requirements for designing effective business and marketing strategies Slide 8: 3. Product/service innovation Understanding of the product/service characteristics that customer want & need Analyzing customer needs Characteristics of innovative company: Creation of new value & new satisfaction of customer is the company objective Innovation extends not only from R&D, but from all firm Regular evaluation of existing products Not always is profit as result of innovation Improving of product quality = one of critical competitive issue Requirements for designing effective business and marketing strategies Slide 9: 4. Developing strategies for CA Strategy is: a plan - action agenda, an integrated course of action (strategy for restructuring) a pattern of apparent behavior that emerges from a series of action (Quality is No. 1 = Ford's strategy) a position or match between an organization & a product-market area (product differentiation strategy) describes perspective of an organization – concept (company is customer-driven or an innovator)... Strategy includes ability to decide WHERE, WHEN and HOW to compete. These decision require knowledge of market trends, competition & CA of firm. Requirements for designing effective business and marketing strategies Slide 10: 5. Competing in global markets Global market – new competitive issues, new opportunities Opportunity for growth – if we have resources Opportunity is not only for industry giants Maintaining of competition position requires knowledge of the key competitors in global marketplace Strategic alliances – speed, resources & MIS (inf. about competitor's strategies & strengths) and = higher performance Requirements for designing effective business and marketing strategies Slide 11: 5. Competing in global markets Global market – rapidly developing world (EU, Asia, China...) – new competition PC – nets, new forms of sale, New strategies for changing world National boundaries and regulations tend to be irrelevant, corporate headquarters might be anywhere Global industry structures that are developing: tires, PC, chemicals, brewing, appliance, MNC – new organization, PPP, protection of market, deregulation of industries, support of research, support of domestic corporation from government... Must we wait for changes or to create future? Requirements for designing effective business and marketing strategies Slide 12: How to analyze market? How to prepare successful strategy? How techniques and methods use in corporate and marketing strategic planning? Which segment will be target market? How will be product, price, distribution or promotion strategy? Have we finance and other resources to achieve the marketing strategy? ... WE HAVE THREE DAYS plus... Requirements for designing effective business and marketing strategies Strategic Market Management:A Historical Perspective : Strategic Market Management:A Historical Perspective Budgeting - before Long-Range Planning Strategic Planning Strategic Market Management - today Slide 14: OUR VISION To be recognised as the leadingprovider of value for customers,employees and shareholders in our field Marketing aims and objectives? : Marketing aims and objectives? Marketing analysis Strategy Identification, Selection and Implementation Marketing aims and objectives? : Marketing aims and objectives? Build up market position for product Increase market share Defense of the market Introduction of new product Harvesting from declining Maxim. profit from product line Market entry with product on market – but HOW? Slide 17: A Business Strategy Where to Compete The product-market investment decision How to Compete Value Assets & Function area proposition competencies strategies and programs A Business Strategy What is strategy? : What is strategy? Imagination about the way how to achieve objectives. - who? – how markets, how customers (need-demand) - position - HOW? (M. mix – supply, M operations, intensity of operations, relation to competition...) „Game plan - design“ – mix of manoeuvres, which give possibility to firm achieve and keep projected position and objectives. (What to do when will be change? Slide 19: Strategy is: a plan - action agenda, an integrated course of action (strategy for restructuring) a pattern of apparent behavior that emerges from a series of action (Quality is No. 1 = Ford's strategy) a position or match between an organization & a product-market area (product differentiation strategy) describes perspective of an organization – concept (company is customer-driven or an innovator)... Strategy includes ability to decide WHERE, WHEN and HOW to compete. These decision require knowledge of market trends, competition & competitive advantage of corporation. Marketing strategy Slide 20: Implementation and Control “Strategy is the creation of a unique and valuable position, involving a different set of activities.” Michael Porter “What is Strategy?” Harvard Business Review “In terms of the three key players (competitors, customers, company) strategy is defined as the way in which a corporation endeavors to differentiate itself positively from its competitors, using its relative corporate strengths to better satisfy customer needs.” -Kenichi Ohmae “The Mind of the Strategist” Strategic marketing decisions : Strategic marketing decisions Strategic – long time and resources Sometimes creation of add slogan is strategic decision Strategic tasks in marketing planning: environmental analysis, identification of opportunity and threats, objectives formulating, definition of market position, USP, creation of marketing plans, organizing and marketing management, selection of people, SBU, financing, creation of distribution channels, branding... To identify competition advantage Market. strategy & competition advantage : Market. strategy & competition advantage Competition advantage – why customer will buy our product, not other. Question: How we compete? By what tool? – customers needs are without borders We must have unimitated advantage (None competitive advantage is permanent.) Competition - me too Sometime is enough lower price – but not for long time and not for all customers. Better is non price competition (based on product – beer alcohol free, on services, communication, people, innovation...) Slide 23: How & where (market) and when... to compete? Company resources and market supply for consumer needs – possibility for competiting – ground for marketing strategy How to? Exploitation of resources: Cost increasing? Decreasing? Focus of resources for actual supply? Supply new product? New market? Now? Later? If yes – how resources? Pull down actual supply from market? Now? When? How to entry in foreign market??? Market.strategy & competition advantage Slide 24: Shareholders interests Shareholders values Personal values of managers Vision MISSION Long term goals Market/customer orientation Market exchanges Customer definition Company aims Company strategy Company strategic position S W Competition opportunity O T Structural opportunities Audit of resources Environment analysis Industry analysis 5P Selfdefinition Who/Where we are? What we must/can make? Competition strategy Competition advantage Competition analysis Slide 25: Company strategic position Definition of target market Market quantification Gap analysis Market entrance Envolvement level Market segmentation Customer behaviour Market research Market atractivity Marketing goals Marketing strategy Finacial goals and strategies Personal goals and strategies Production goals and strategies Organisation structure Slide 26: Suplay policy Brand policy Product diferentiation Product lines Portfolio analysis Price policy Distribution policy People Place policy Communi-cation plan Processes Marketing plan and programs Operative plans Marketing strategy Feed back Slide 27: Product – elimination, diversification, PLC, Price – status quo, unique price, upper/lower competition, penetration, skimming, line price, INCOTERMS, complementary products, two-element... Distribution – intensive, selective, exclusive... Promotion – pull vs. push M – mix strategies Competition strategies : Competition strategies - According position – attack/defend Cost leadership – Deavo, KIA Nicher – positionalist - Victorinox Challenger Me too – to be the 2nd Focus – R&R Differentiation - McD... Competitive Advantage and Strategies : Competitive Advantage and Strategies M. PORTER Cost Leadership Differentiation Niche or market wide Slide 30:  Marketing strategy and BCG ? ? ? ? Selecion of segments Invest - development Keep position-harvest Invest–selective Fall back - deinvest Promotionhigh low : Select invasion (slow skiming) Price low high Promotionhigh low Intensive marketing (fast skiming) Pasive marketing (slow penetration) Wide invasion (fast penetration) Entry strategies for new product Marketold new : Market development s20/c400 PRODUCTnew old Marketold new Penetration s50/c100 DIVERSIFICATION s5/c1400 PRODUCT developmnet s33/c800 Conso- lidation Ansoff´s development strategies Evaluation of strategies : Evaluation of strategies Criterions: 1. Synergy effect from M-mixu - (1+1=3) 2. Is strategy clear for customer 3. Is S helping to company (profit, turnover...) 4. Market share is increasing? 5. Possibility to find good market position 6. Feasibility in company condition (resources, skills...) Slide 34: Criteria for Strategy Selections Consider scenarios suggested by strategic uncertainties and environmental opportunities/threats Generate an attractive ROI Features of strategic process Pursue a sustainable competitive advantage - Exploit organizational strengths or competitor weaknesses - Neutralize organizational weaknesses or competitors strengths Slide 35: Criteria for Strategy Selections Be consistent with organizational vision/objectives - Achieve a long-term return on investment - Be compatible with vision/objectives Be feasible - Resources are available - Be compatible with the internal organization Consider the relationship to other strategies within the firm - Foster product portfolio balance - Consider flexibility - Exploit synergy Functional Strategies and Programs : Functional Strategies and Programs Manufacturing strategy Distribution strategy Brand-building strategy Communication strategy Information technology strategy Foreign market entry strategies Global strategy Segmentation strategy Slide 37: Failure Success Rescue Implementation bad good Strategy – idea correct incorrect Struggle Key Issues3: Risks in strategy process Slide 38: The Marketing Plan: PURPOSE & NATURE Implementation no successful until who, why, where & when specified Also, how much & specifically what (tasks) The marketing plan gives all these details to the key employees hence should summarise all the key points from the planning process Marketing action plan Slide 39: The Marketing Plan as a Document (Content): Executive Summary Key Marketing Audits Issue & Impacts Marketing Objectives Marketing Strategy Contingency Plan Marketing Tactics Action Plan Budget “Plans are nothing,planning is everything.”- Dwight D. Eisenhower Slide 40: Marketing Organisation: Before my arrival marketing did not exist in this firm... Marketing activities was dispersed in many positions... Customer´s higher knowledge press to firm The function of marketing department... Structure must fellow strategy! Organisation based on customer's needs! Slide 41: Marketing Organisation: Is marketing only fashion? We are selling without TV ad too. Marketing Department without power (authority) Integration function of Marketing Department Bad coordination of marketing activities Production orientation of firm Marketing myopia... Slide 42: Marketing Organisation: Organisation of marketing activities according... Territory, products, customers (matrix)... or combination?... life stage of the firm, company level (banks)... Activities of Mark. Dep. – analysis, planning, trends, communication, research...level of company (banks)... Marketing specialists – product manager, brand manager, sales manager, budget manager, event manager, regional manager, project manager, CRM manager, PR, controlling... Or outsourcing? – cooperation with agencies Mark. Dep. vs. other departments (research, production, cleaning, finance... – different interests and goals

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