chapter
developing marketing strategies and a marketing plan
two
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
LEARNING OBJECTIVES
LO1Define a marketing strategy.LO2Describe the elements of a marketing plan.LO3Analyze a marketing situation using SWOT
analyses.LO4Describe how a firm chooses which consumer
group(s) to pursue with its marketing efforts.LO5Outline the implementation of the marketing mix
as a means to increase customer value.LO6Summarize portfolio analysis and its use to
evaluate marketing performance.LO7Describe how firms grow their business.
Developing Marketing Strategies and a Marketing Plan
2-2
Sustainable Competitive Advantage
2-3
The Marketing Plan
2-4
Three Phases of a Strategic PlanR
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Step One: Defining the Mission and/or Vision
MADD mission statement:MADD strives to stop drunk driving, support the victims of this violent crime and prevent underage drinking.
2-6
Step Two: Conduct a Situation Analysis Using SWOT
2-7
Step Three: Identifying and Evaluating Opportunities Using
STP
Courtesy The Hertz Corporation
2-8
Step Four: Implement Marketing Mix
and Allocate Resources
Courtesy Bel Brands USA
2-9
Product and Value Creation
• Successful products and services are those that customers perceive as valuable enough to buy.
Courtesy Amazoncom
2-10
Price and Value Capture
• Price must allow for customers to perceive good value for the product they receive.
2-11
Place and Value Delivery
• The product must be readily accessible
• Why is this retailer growing?
Courtesy Sephora USA, Inc
2-12
Promotion and Value Communication
Television Radio Magazines Sales force New Media
©Lars A NikiThe McGraw-Hill Companies, Inc/Jill Braaten, photographer
McGraw-Hill Companies, Inc/Gary He, photographer The McGraw-Hill Companies, Inc/John Flournoy, photographer 2-13
Step Five: Evaluate Performance Using Marketing Metrics
P&G Website 2-14
Growth StrategiesMarket Penetration
• Existing marketing mix
• Existing customers• In what way is a
sale a Market penetration strategy?
Ryan McVay/Getty Images
2-15
Growth StrategiesMarket Development Strategy
What can a company do to continue to grow
in a difficult retail environment?
What can a company do to continue to grow
in a difficult retail environment?
Frederic J Brown/AFP/Getty Images
2-16
Growth StrategiesProduct Development
Used with permission by MTV 2010 MTV Networks All Rights Reserved MTV, all related titles, characters and logos are trademarks owned by MTV Networks, a division of Viacom International Inc.
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Growth StrategiesDiversification
Photo by Joe Scarnici/WireImage/Getty Images
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