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Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved.
Chapter 2Chapter 2
Strategic Planning and the Marketing
Process
Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved.
2-2
What is Marketing Planning?What is Marketing Planning?
Planning: Anticipating future events and conditions and determining the courses of action necessary to achieve organizational objectivesMarketing planning
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Strategic Marketing Planning Levels
Mission/Goal StatementMission/Goal Statement
Corporate StrategyCorporate Strategy
SBU StrategySBU Strategy
Marketing StrategyMarketing Strategy
Marketing Mix ElementsMarketing Mix Elements
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KraftAdding Products
to Increase Market Share
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GM Ads Strengthen Relationships With Women Car Buyers
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Strategic Planning versus Tactical PlanningStrategic Planning versus Tactical Planning
Strategic planning
Tactical planning
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Planning at Different Organizational Planning at Different Organizational LevelsLevels
Top managers
Middle level managers
Supervisors
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Steps in the Marketing Planning Steps in the Marketing Planning ProcessProcess
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Defining the Organization’s MissionDefining the Organization’s Mission
Mission: the essential purpose that differentiates one company from another
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CrestEducation
Programs: Part of Procter & Gamble’s Mission to Improve the Lives of Consumers
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Determining Organizational ObjectivesDetermining Organizational ObjectivesAn organization lays out its basic objectives,
or goals, in its mission statementThese objectives guide development of
supporting marketing objectives and plans
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Assessing Organizational Resources and Assessing Organizational Resources and Evaluating Environmental Risks and Evaluating Environmental Risks and OpportunitiesOpportunities
SWOT analysis: The study of a firm’s internal strengths and weaknesses and external opportunities and threats
Strategic window: a limited period with an optimal fit between the market and the firm
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SWOT is an acronym for strengths, weaknesses, opportunities, and threats
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Taking Advantage of a Strategic Window
Growth in Internet Creates a Strategic Window for
HydrogenMedia
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Formulating a Marketing StrategyFormulating a Marketing StrategyMarketing strategy: a firm’s overall
program for selecting and satisfying a target marketRequires a careful balance of the
marketing mix elements – each of which represents a subset of the overall marketing strategy
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2-16
This advertisement shows the Chrysler auto lineup including the
highly successful PT Cruiser.
Each product offering targets a specific market segment.
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Elements of a Marketing StrategyElements of a Marketing Strategy
Blending the four strategy elements of marketing decision-making to satisfy chosen target marketsProductPriceDistributionPromotion
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Target MarketTarget MarketGroup of
people toward whom the firm decides to direct its marketing efforts
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Product StrategyProduct StrategyWhat goods or services to offerCustomer servicePackage designBrand namesTrademarksWarrantiesProduct Life Cycle PositioningNew-product development
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2-20
Product Strategy: The cell phone is now positioned to
compete directly with land-lines as shown in this AT&T
advertisement.
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Ad Stressing a New Package Design
(Part of the Total Product)
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Elements of the Champion Product Strategy
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Distribution StrategyDistribution StrategyModes of transportationWarehousingInventory controlOrder processingMarketing channels
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This Ad illustrates the Challenges of Finding
Distribution for your Product.
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Promotional StrategyPromotional StrategyBlending together the various elements of
promotion to communicate most effectively with the target marketadvertisingsales promotionpublic relationspersonal selling
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This advertising campaign communicates effectively with
its Target Market
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Advertising As a Part of the Pepto-Bismol Promotional Strategy
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Pricing StrategyPricing StrategyDeals with the methods of setting profitable
and justifiable prices
The Marketing EnvironmentThe Marketing EnvironmentCompetitiveSocial – CulturalTechnologicalEconomicPolitical – Legal
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The Competitive Environment, as well as, changes in Technology,
has influenced the way these two competitors differentiate their
product offerings.
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TOYOTAAd Promotes a Product Developed for the Changing Legal and Social-Cultural Environments
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Tools for Marketing PlanningTools for Marketing Planning
Strategic Business UnitsStrategic Business Units (SBUs) are key business units within diversified firmsA division, product line, or single product
may define an SBUFirms redesign their SBUs as market
conditions dictate
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3MTape Products:
A 3M Strategic Business Unit
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Market Share/ Market Growth MatrixMarket Share/ Market Growth Matrix: Classifies a firm’s products according to industry growth rates and market shares relative to competing products
Market Attractiveness/Business Market Attractiveness/Business Strength MatrixStrength Matrix: Rates SBUs according to the attractiveness of their markets and their organizational strengths
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Market Share/ Market Growth Matrix
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Market Attractiveness/Business Strength Matrix
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Spreadsheet analysisSpreadsheet analysis helps planners anticipate marketing performance given specified sets of circumstances