Date post: | 08-Jul-2015 |
Category: |
Marketing |
Upload: | syed-awais |
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Marketing Management Task
Developing Marketing Management Strategies
Connecting With Customers
Building Strong Brands
Shaping the Market offerings
Delivering Value
Communicating Value
Creating Long Term Growth
Developing Marketing
Strategies and Plans
Objectives
1. How does marketing affect customer value?
2. How is strategic planning carried out at
different levels of the organization?
3. What does a marketing plan include?
Value
Perceived Benefits
Tangible +Intangible
Cost
Quality, Service and Price
Value creation and delivery
process
STP
The Value Chain
•The market Sensing Process
•New offering Realization Process
•Customer Acquisition process
•The fulfillment Management Process
Core Competencies Own and nurture the resources and competencies that make up
the essence of Business.
Core Competency refers to areas of special technical andproduction expertise, whereas distinctive capability describesexcellence in broader business processes. Market-drivenorganizations generally excel in three distinctive capabilities:market sensing, customer linking and channel bonding.
Source of Competitive Advantage
Application in wide variety of Markets
Difficult for Competitors to imitate
Examples
1. Addidas
2. Software industry in Pakistan and India
3. VIP Marketing
Role of Strategic Planning
Manage Company’s Business as investment Portfolio.
Asses Company Strength
1. Market Growth rate
2. Company Position
3. Fit In the Market
Establishing a Strategy
4 Levels
(Resource allocation) Corporate Level (Business to Start or
Eliminate)
Division Level
Business Unit Level
Product Level (Marketing Plan)
Corporate and division level Strategic
Planning Defining the corporate mission
Establishing strategic business units
Assigning resources to each Strategic Business Unit
Assessing growth opportunities
Mission
“What is our business”Employee, Managers and Customers
Limited Goals
Major Policies
Major Competitive Sphere
Long Term View
Short, Memorable, Meaningful
Establishing SBU Single Business or group of Business that can be planned
separately.
Own Set of Competitors
Manager: responsible for strategic planning and profit
performance.
Product Vs Industry Vs Market
Target Market Vs Strategic Marketing
Three Dimensions
Customer Groups
Customer Need
Technology
Assigning ResourcesWith or Without SBU
*Potential Growth Opportunity
Assessing Growth
Present Sales Vs Desired Sales
1. Intensive (P/G Matrix)
2. Integrative (Backward, Forward, Horizontal Integration)
3. Diversification (Concentric, Horizontal and Conglomerate)
Innovation in marketing is critical. Senior management should identify
and encourage fresh ideas from a youth perspective, from people new
to the field and organization, to gain an understanding and a new
approach to marketing.
Product Growth Matrix
Market Penetration
Product Development
Market Development
Diversification
Market Penetration1. Markets are not saturated
2. Usage rate can be increased
3. Correlations between sales and marketing expenditures is high
4. Economies of scale provide major competitive advantage
Market Development1. New channels are available
2. New untapped market exists
3. Excess production capacity
4. Excess capital and human resource
Product Development1. Successful products at maturity stage
2. Organization competes in high growth industry
3. Company has strong R&D
Diversification1. Value chain is common among different businesses
Business Unit Strategic
Planning
SWOT
Opportunity: area of buyer need or interest that a company
can profitably satisfy.
1. Short of Supplies
2. Supply something in superior way (Ask Customers)
3. Totally New Product
Threat: an external event that can effect the marketing
objectives/goals
Strength Vs Weakness
Goal Formulation: Developing specific goals for a short term is
known as Goal Formulation. They are specific with respect to
magnitude and time. Goals must be consistent and realistic and
could be a mix of various objectives.
SMART
Strategy Formulation: Strategy is a game plan for achieving
the goals. It consists of a Marketing Strategy, Technology
Strategy and a Sourcing Strategy.
1. Overall Cost Leadership
2. Differentiation
3. Focus
a) Product or service alliance
b) Promotional alliance
c) Logistics alliance
d) Pricing Collaboration
Product Planning The marketing plan is the central instrument for
directing and coordinating the marketing effort. Themarketing plan operates at two levels: strategicand tactical.
Components Of Marketing Plan:
1. Executive summary
2. Situation Analysis
3. Marketing Opportunity and Issues
4. Objectives
5. Marketing strategy
6. Target Market
7. Positioning
8. Marketing Mix
9. Review and Control
10. Marketing Organization
11. Contingency Plan