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1
Marketing strategy and planning
A framework for strategic marketing and planning
-
Understanding the org. resource base –
Forecasting future demand and market requirements
Week 38
Jacob Holm
Tlf: 24 42 11 32
www.office2go.dk
2
The marketing management processPart 1:Marketing Strategy
• Market –led strategic management – chapter 1
• Strategig marketing plannng
Part 2: Competitive market analysis
• The changing market environment – chapter 3
• Customer analysis – chapter 4
• Competitor analysis - chapter5
• Understanding the organizational resource base – chapter 6
• Forecasting future demand and market requirements – chapter 7
Part 3: Identifying current and future competitive positions
• Segmentation and positioning principles – chapter 8
• Segmentation and positioning research – chapter 9
• Selecting target markets– chapter 10
Part 4: Competitive position strategies
• Segmentation and positioning principles – chapter 11
• Competing through the new marketing mix – chapter 12
•Competing trough innovation– chapter 13
• Competing through superior service and customer relationship – chapter 14
Part 5: Implementing the strategy
• Strategic customer management – chapter 15
• Strategic alliances and network – chapter 16
• CSR – chapter 18 www.Office2go.dk
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Today’s subject
Marketing Audit:
1. Understanding the organisational resource base
2. Forecasting future demand and market requirements
3. Markops introduction
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Organisational resources
Organisational resources include both tangible and intangible assets, capabilities and competence (page 130)
These resources are important to identify so that they can be used to create an sustainable competitive advantage !
Resources that are difficult to copy:
• Brand reputation
• Customer relationships
• Distribution networks
• Competitive position in the market place
Resources that are easy to copy:
• Capital
• Plant and machinery
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Organisational resources
These resources are important to identify so that they can be used to create an sustainable competitive advantage !
Resources that are difficult to copy:
• Brand reputation
• Customer relationships
• Distribution networks
• Competitive position in the market place
Resources that are easy to copy:
• Capital
• Plant and machinery
Pris Høj
Pris lav
Lav service
grad
Høj
service
grad
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How can you protect yourself from
duplication and intense competition?
1. A competitor must identify the resources that have been
dedicated to creating and implementing the strategy.
2. Should a competitor overcome this, it would still need to acquire
the necessary resources.
3. Resources depreciate over time as competitors find ways to
imitate successful strategies.
31
Porters five forcesMarket definition
Industry
competitors
Determine
intensisity &
attractiveness?
Suppliers
Power etc.
Buyers
Power etc.
New entries
Threats & attractiveness, competence
Substitutes
Relative price,
switching cost etc.
PEST
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Value creation• Operation excellence
• Product leadership
• Customer intimacy
• Porter argues that the danger inherent in the pressure on companies to improve
operational efficiency is not simply that we substitute operational efficiency for
strategy, but that companies become more and more similar. The more
benchmarking companies do, the more they look alike. Continuous improvement
has been etched on to managers brains. But its tools unwittingly draw
companies toward imitations and homogeneity
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RBV >< Market orientation
Market orientation:
All the firms capabilities are focusing on responding to market needs.
Resource-based view:
High performance strategy is dependent on historical developed
resources.
BUT
The attractiveness of markets will depend, in part, on the resources
available to the firm to build a strong competitive position
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Resource-based view
In general, the greater the rate of change in the external environment, the
more the company must seek to base a long term strategy upon internal
resources and capabilities, rather than upon external market focus ! Side
135
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Brands - What are we looking at ?
Other services – Delivery, installation, repair, training
Warranty
Packaging
Product
features
Core
benefits/Brand
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Core benefits - Brand
What does strong brands do:
“Really strong brands are the ones which have done all my thinking for
me!”
Marieke van der Werf – fouder of New Moon Communication
“Branding is something you do to cows. Branding is what you do
when there's nothing original about your product”. Roy Edward Disney
(Former Walt Disney Board member)
"Your brand represents the sum of all the minds and souls of every
single person that comes into contact with your company over time.” Martin Lindstrom
A brand is more than a word. It is the beginning of a lifetime dialogue."Martin Lindstrom
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Brands as an asset
• Brands are difficult to build
• Brands ad value for customers
• Brands create defensible competitive positions
• Brands build customer retention
• Brands can transform markets
• Brands can perform financially
• Brands can cross national borders
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How to developed marketing assets and
capabilities?
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Dynamic marketing capabilities
• Absorptive marketing capabilities– The firm ability to recognize the value of new
information from the market an assimilate to it.
• Adaptive marketing capabilities– Firms ability to identify and capitalize on emerging
market opportunities. Adaptation implies doing things
differently in response to external stimuli.
• Innovative marketing capabilities.– Firms ability to innovate and develop the next
generation of goods and services
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Measuring market opportunities –
forecasting and market knowledge.
Men inden vi starter – en lille film om at man ikke
skal tror på alt hvad man ser og hører
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Forudsigelser – prognoser
forecast
Er pr definition forkerte – så hvorfor lave dem?
Fordi:
Ure
Foto
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Forecasting
Macro analysis - economics
Macro demographics
Trends
Micro economics
Customer analysis
Regional sales trends
Local sales trends
Top-down Buttom up
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Simple mathematical methods
Market build up methods
Q = n * q * p
Q = Total market demand
n = Number of buyers in the market
q = Quantity purchased by an average buyer per year
P = price of an average unit
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Market build up methods in Office2go
Antal arbejdspladser
i nystartede og
små virksomheder
Antal
virks.
Gens.
antal
medarb.
antal
medarb. med
kontorarb
antal år
før
nykøb
antal
nystart
virks. Over
2
medarb.
antal nystart
virks. Der
køber nye
møbler.
Antal
nye arb.
pladser
kundeværdi
ved 9.000 kr
pr. arb.plads
Antal vi rk. 31-40 medarb. 3.818 35 50% 5 13.363 315.000
Antal vi rk. 21-30 medarb. 2.234 25 50% 5 5.585 225.000
Antal vi rk. 11-20 medarb. 10.867 15 50% 5 16.301 135.000
Antal vi rk. 2-10 medarb. 70.038 5 50% 5 35.019 45.000
Antal nystartede vi rk. Pr år 25.000 3 75% 1 50% 50% 14.063 27.000
Total 111.957 Gens . 7 84.330
Total marked ved 9.000 kr
pr. arbejdsplads : kr 758.970.000
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Market build up methods in Office2go
-
50
100
150
200
250
300
350
400
Mio
kr.
Møbler BtB markedet 2010/2011OMS
Samlet marked ca.
2 mia kr
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Metoder
• Statistiske modeller
– Linear regression
– Tidsserie analyser
• Fordele
– Giver overblik
– Enkle at arb. Med
• Ulemper
– Tager ikke højde for paradigme skift
– Kræver et pålideligt statistisk grundlag
– Giver et statisk billede
Ud vikling T otalA lle sæ lg ere - o gs å d em s om ikke l æ ng e re e r h o s o s
0
5 00
10 00
15 00
20 00
25 00
30 00
35 00
40 00
45 00
Tk
r.
T otal 724 554 580 423 480 423 248 809 1.3 552 969 665 3.2 366 516 1.6 1.0 2.1 436 222 608
L inear reg. 973 982 991 100 100 101 1.0 1.0 1.0 1.0 1.0 107 108 10 9 110 111 1.1 1.1 1.1 1.1 1.1 116 117 118 119 120 1.2 1.2 1.2 1.2
14 15 16 17 18 19 20 21 22 23 24 25 26 27 2829-
3233
34-
3536 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52
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Metoder
• Observationer
– Viser hvad folk faktisk gør
– Man kan manipulere med folk og lære af det
– Er dog ikke statistisk dækkende pga begrænsningen i observationer
• Spørgeskemaundersøgelser
– Kan afdække et stort antal respondenter
– Kan dog stille et begrænset antal spørgsmål• Kan dog gøres elektronisk
• Pas på med svar
• Fokus grupper
– Afdække få respondenter
– I dybden spg.
– Kan styre diskussionen
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Nestlé forecast
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Metoder
• Analogier
– Hvad gør man når produktet ikke findes på markedet. Eks.
Sony Walkman, fax maskinen
– Men hvad skal man vurdere ud fra?
• Markeds test
– Test et begrænset område inden man ruller den store
marketing / salgs plan ud.
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Hvem og hvad vil vi undersøge
• Adoption process
– Awareness
– Interest
– Evaluation
– Trial
– Adoption
• Adopter categories
– Innovators
– Early adopters
– Early majority
– Late majority
– laggards
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Diffusion of innovationOpportunity attractiveness
Adopter
categories
Adoption process
Innovators
2,5%
venturesome,
educated,
multiple info
sources
Early
adopters
13,5%
social leaders,
popular,
educated
Early
majority
34 %
deliberate,
many informal
social
contacts
Late majority
34 %
skeptical,
traditional,
lower socio-
economic
status
Laggards
16 %
neighbors and
friends are main
info sources,
fear of debt
Awareness
Interest
Evaluation
Trial
Adoption
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Diffusion theory and the s-curve
The diffusion curves of many household innovations, from the Federal Reserve Bank of Dallas, 1998
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Pas på fejlkilder
• Man er for forankret i fortiden
• Man kan ikke se skoven for bar træer
• Man overfortolker resultater
• Man overfortolker på statistik der ikke er statistisk validt
• Man stiller ledende spg. Og konkluderer pba dette.
Eks:Salgsrapport
D ato n y 0 3-10-200 8
D ato G am m el 2 6-09-200 8
U g e 4 0
T kr
F a ktur ere t O rd re
N avn T ilg a n g A fga n g T ilg an g
C h ristia n 11 7 42 1 404 210
M a rin a 10 8 17 6 184 213
Jo h n (2 1) - - -
An d r e
C am illa 2 8 3 8 17 209
Ø yvin d 3 4 - 17 207
Jan 21 5 45 2 125 113
T o ta l 48 1 1.08 7 748 952
In d ex 49 %
T kr
F a ktur ere t O rd re
N avn T ilg a n g A fga n g T ilg an g
B u tik 8 3 - - -
T ilb u d
T ilb u d
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Markops Online Simulation
Introduction
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4
The Markops Online World
• Population : 80,000,000
• Currency : Markops Monetary Unit (Symbol = $)
• Stable GNP growth
• No inflation
• No major political, social or economic events anticipated in the near
future - PEST
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4
4 companies are in competition in a
fictitious FMCG market: the “Yumite” market
– “Yumites” are a class of edible consumer products
comparable to savory snacks, confectionary products or
dessert items
– “Yumite products have existed for several years
– Now a well-established market, with several strong brands
at different price points covering a wide range of needs
– Consistent solid growth since the introduction of the first
Yumite brand
– Probable continued growth over the next five years
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4
4 well-established competing firms are in
different starting positions
– Varying strengths & weaknesses• R&D Pipeline, Brand portfolio, Target segments, Channels, Finances
– Distribution through established distribution channels
– Slow transition into the new Internet world
CHEWY
(Your Firm) Savor
Tasty Whippit
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4
“Yumite” brands are usually differentiated in
terms of 4 most important attributes
– Four tangible attributes on a 0 (Poor) to 100 (Excellent)
scale
PERFORMANCE NUTRITION
Main product benefit
Appearance
Texture
Mouthfeel
Healthful/Quality
ingredients
No preservatives
Lack of artificial coloring
No added sugar
PACKAGING FLAVOR
Quality of packaging
Attractiveness
Ease of use/convenience
Serving size
Taste experience
Uniqueness
Pleasure
Smooth, natural, fresh
Low Rating(minimum acceptable)
SAGA
WAHOO
CARE
TEENS
0
100
High Rating
(highest achievable)
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4
Newsletter
Attributes of marketed brands
Brand names start
with firm’s initial
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4
The unit cost of Yumite brands is set by the
production department
The Unit cost increases as attribute levels increase
PERFORMANCE
NUTRITION
PACKAGING
FLAVOR
BASE UNIT COST
E.G. $ 5.65 FOR BRAND “CENTO”
The Unit cost decreases with cumulative production due to experience effect
MILLIONS OF UNITS PRODUCED
(CUMULATIVE)RESULTING UNIT COST
LOWER THAN 10 C : BASE UNIT COST
FROM 10 TO 20 C x 0.85
FROM 20 TO 40 C x 0.85 x 0.85 = C x 0.72
GREATER THAN 40 C x 0.85 x 0.85 x 0.85 = C x 0.61
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5
Five consumer segments of Yumite
products vary in age, occupation and family
status
Low family income
25 – 45
Married with kids
Buy lower quality products
Very price sensitive
LOW INCOME FAMILIES
Low income
18 – 35
Single, student or employee
Heavy users, rather price
sensitive
SINGLES
Lower income than Affl. Fam.
25 – 45
Married with kids
Buy average quality products
Slightly price sensitive
MEDIUM INCOME
FAMILIES
High income
25+
Single or married no kids
Buy expensive products
Motivated by social status
HIGH EARNERS
High income
25 – 45
Married with kids
Frequent buyers of Yumites
Buy high quality products
AFFLUENT FAMILIES
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5
Over 95% of Yumite products are purchased
in traditional distribution channels
10 chains – 12,500 stores
Food, house wares, personal
care products
Limited product line
Cheaper, lower-quality brands
MASS
MERCHANDISERS
20 chains – 2,000 stores
Large % sales from Yumites
Broad product line
Both cheap and expensive
brands
SUPERMARKETS
15 chains – 6,000 stores
Specialize in Yumites
Extensive customer service
Focus on expensive, high quality
brands
SPECIALTY CHAIN
STORES
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5
The growth of web-based channels has
decreased strongly in the past two years
10 web sites
Food, house wares, personal
care products, …
Limited product line
Cheaper, lower-quality brands
E-GROCERS
8 sites
Specialized in Yumites
Focus on expensive, high
quality brands
E- BOUTIQUES
DIVAGOChocolatier
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5
Margins and discounts vary with distributions
channels
Average Margin
Average Discount
Recommended Retail
Price
Price Paid by Consumers
Margin
Firm Revenue in $
% of Rec. Retail Price
Mass
Merchandisers
& e-Grocers
35 %
10 %
$ 10.00
$ 9.00
$ 3.15
$ 5.85
58.5 %
Supermarkets
40 %
5 %
$ 10.00
$ 9.50
$ 3.80
$ 5.70
57.0 %
Specialty chain
stores & e-
Boutiques
50 %
None
$ 10.00
$ 10.00
$ 5.00
$ 5.00
50.0 %
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5
Managing your firm in
the Markops Online world
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5
Your mission
IMPROVE CONSUMER WELL-BEING
THROUGH INNOVATIVE
PRODUCTS AND SERVICES
AND
MAXIMIZE
SHAREHOLDER VALUE
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5
You are responsible for designing and
implementing the marketing strategy of
your firm
•Product portfolio strategy
– Which brands the company is going to develop and market
•Segmentation and positioning strategy
– Which market segments will be targeted
– How products will be positioned
•Marketing mix strategy
– Day-to-day operational marketing decisions
– Pricing, production, communication, distribution, …
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5
Data is available on Consumers, Firms, Brands...
It is up to you to prioritize, digest and interpret them
InformationStrategic
OptionsData
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5
Use the Semantic Scales study and the relevant
Brand Map to decide on advertising content
High
PerformanceLow
Performance
Low Nutrition
High Nutrition
Brand COCOA is
perceived as having
less nutrition than its
direct competitor TANG.
Use positioning
decisions to close these
gaps
This is the
Brand Map
available in the
Semantic
Scales study
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Today’s subject
Marketing Audit:
1. Understanding the organisational resource base
2. Forecasting future demand and market requirements
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62
Jacob Holm
Tlf: 24 42 11 32
Email: [email protected]
www.office2go.dk
Nothing more for today
Husk Deadline for grupper I
Markops 24 sept!
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