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Developing Marketing
Strategies and Plans
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Three V’s Approach to Marketing
Define the value segment
Define the value proposition
Define the value network
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What is the Value Chain?
The value chain is a tool for identifying
ways to create more customer valuebecause every firm is a synthesis of
primary and support activities performed to design, produce, market,
deliver, and support its product.
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Figure 2.2 Porter’s Value Chain
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Characteristics of Core Competencies
• A source of competitive advantage
• Applications in a wide variety of markets
• Difficult to imitate
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What is a Marketing Plan?
A marketing plan is the central
instrument for directing andcoordinating the marketing effort.
It operates at astrategic and tactical level.
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Levels of a Marketing Plan
• Strategic
• Target marketingdecisions
• Value proposition
• Analysis ofmarketingopportunities
• Tactical
• Product features
• Promotion• Merchandising
• Pricing
• Sales channels
• Service
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Figure 2.2 The Strategic Planning,Implementation,
and Control Processes
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Corporate Headquarters’
Planning Activities
• Define the corporate mission
• Establish strategic business units
(SBUs)• Assign resources to each SBU
• Assess growth opportunities
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Good Mission Statements
Focus on limited number of goals
Stress major policies and values
Define major competitive spheres
Take a long-term view
Short, memorable, meaningful
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Rubbermaid Commercial Products, Inc.
“Our vision is to be the Global Market Share
Leader in each of the markets we serve. Wewill earn this leadership position by
providing to our distributor and end-usercustomers innovative, high-quality, cost-effective and environmentally responsibleproducts. We will add value to these products
by providing legendary customer servicethrough our uncompromising Commitmentto Customer Satisfaction.”
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Motorola
“The purpose of Motorola is to honorably
serve the needs of the community by providing
products and services of superior quality at afair price to our customers; to do this so as toearn an adequate profit which is required forthe total enterprise to grow; and by doing so,
provide the opportunity for our employees andshareholders to achieve their personalobjectives.”
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eBay
“We help people trade anything on earth.
We will continue to enhance the onlinetrading experiences of all—collectors,dealers, small businesses, unique itemseekers, bargain hunters, opportunity
sellers, and browsers.”
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Table 2.3Product Orientation vs. Market Orientation
Company Product Market
Missouri-PacificRailroad
We run a railroad We are a people-and-goods mover
Xerox We make copyingequipment
We improve officeproductivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertainpeople
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Characteristics of SBUs
• It is a single business or collection of
related businesses
• It has its own set of competitors
• It has a leader responsible for strategicplanning and profitability
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Figure 2.3 The Strategic Planning Gap
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Ansoff’s Product-Market Expansion Grid
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Figure 2.5 The Business UnitStrategic Planning Process
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SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
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Market Opportunity Analysis (MOA)
• Can the benefits involved in the opportunitybe articulated convincingly to a defined targetmarket?
• Can the target market be located andreached with cost-effective media and tradechannels?
• Does the company possess or have accessto the critical capabilities and resourcesneeded to deliver the customer benefits?
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Market Opportunity Analysis (MOA)(cont.)
• Can the company deliver the benefits
better than any actual or potentialcompetitors?
• Will the financial rate of return meet orexceed the company’s required
threshold for investment?
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Porter’s Generic Strategies
Overall Cost Leadership
Differentiation
Focus
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Marketing Plan Contents
Executive summary
Table of contents
Situation analysis Marketing strategy
Financial projections
Implementation controls
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Marketing Debate
What good is a mission statement?
Take a position:1. Mission statements are critical to asuccessful marketing organization.
or
2. Mission statements rarely provideuseful marketing value.