Date post: | 20-Jan-2015 |
Category: |
Documents |
Upload: | rex-international-trading |
View: | 1,144 times |
Download: | 15 times |
1. Imperatives for Market-Driven Strategy
2. Markets and Competitive Space
3. Strategic Market Segmentation
4. Strategic Customer Relationship Management
5. Capabilities for Learning about Customers and Markets
6. Market Targeting and Strategic Positioning
7. Strategic Relationships
8. Innovation and New Product Strategy
9. Strategic Brand Management
10. Value Chain Strategy
11. Pricing Strategy
12. Promotion, Advertising and Sales Promotion
Strategies
13. Sales Force, Internet, and Direct Marketing Strategies
14. Designing Market-Driven Organizations
15. Marketing Strategy Implementation And Control
Strategic Marketing
Chapter 15
Marketing StrategyImplementation
and Control
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
15-3
Marketing strategy implementation and Marketing strategy implementation and controlcontrol
* The strategic marketing planning processThe strategic marketing planning process
* Implementing the strategic marketing planImplementing the strategic marketing plan
* Strategic marketing evaluation and controlStrategic marketing evaluation and control
* Marketing performance measurementMarketing performance measurement
* Global issues for planning, implementation Global issues for planning, implementation and controland control
15-4
Marketing strategy implementation and Marketing strategy implementation and controlcontrol
* Fiat - strategic turnaround in auto industryFiat - strategic turnaround in auto industry
* Debts, losses, market share falling, Debts, losses, market share falling, reputation for low quality, diversificationreputation for low quality, diversification
* Recovery strategy of radical restructuring, Recovery strategy of radical restructuring, dismantling management and bureaucracydismantling management and bureaucracy
* Marketing, operations and R&D overhauled - Marketing, operations and R&D overhauled - small car focussmall car focus
* Range of strategic relationships establishedRange of strategic relationships established
15-5
The strategic marketing planning processThe strategic marketing planning process
* The marketing plan guides The marketing plan guides implementationimplementation
* Contents of the marketing planContents of the marketing plan
* Managing the planning processManaging the planning process
15-6
Strategy and planning relationshipsStrategy and planning relationships
MARKETING STRATEGY
AnnualMarketingPlanning
ImplementationControl and Evaluation
Revision
AnnualMarketingPlanning
AnnualMarketingPlanning
ImplementationControl and Evaluation
Revision
15-7
MARKETING PLANMARKETING PLANOUTLINEOUTLINE
I.I. Strategic Situation SummaryStrategic Situation Summary
Summarize the key points from your situation analysis (marketSummarize the key points from your situation analysis (market analysis, segments, industry/competition) in order to recount theanalysis, segments, industry/competition) in order to recount the
major events and provide information to better understand themajor events and provide information to better understand the strategies outlined in the marketing plan.strategies outlined in the marketing plan.
II. II. Market-Targets and ObjectivesMarket-Targets and Objectives The market target may be defined demographically (key The market target may be defined demographically (key
characteristics only), geographically, or in social/economic terms. Each market target should characteristics only), geographically, or in social/economic terms. Each market target should have needs and wants that differ to have needs and wants that differ to
some degree from other targets. These differences may be withsome degree from other targets. These differences may be with respect to types of products purchased, use situation, frequencyrespect to types of products purchased, use situation, frequency of purchase, and other variations that indicate a need to alter theof purchase, and other variations that indicate a need to alter the
positioning strategy to fit the needs and wants of each target.positioning strategy to fit the needs and wants of each target.An objective is a quantified goal identifying An objective is a quantified goal identifying whatwhat is expected is expected
whenwhen. It specifies the end results expected. The objectives should. It specifies the end results expected. The objectives should be written for each target market. Objectives should also bebe written for each target market. Objectives should also be included for the following program components: (1) product, included for the following program components: (1) product,
(2) price, (3) distribution, (4) promotion (salesforce, advertising,(2) price, (3) distribution, (4) promotion (salesforce, advertising, sales promotion, and public relations), and (5) technical services.sales promotion, and public relations), and (5) technical services.
15-8
III. III. Positioning StatementsPositioning Statements
Write statements that describe how you want each marketWrite statements that describe how you want each market target to perceive each product relative to competition. State thetarget to perceive each product relative to competition. State the core concept used to position the product (brand) in the eyes andcore concept used to position the product (brand) in the eyes and
mind of the targeted buyer. The positioning statement shouldmind of the targeted buyer. The positioning statement should describe: (1) What criteria or benefits the customer considers whendescribe: (1) What criteria or benefits the customer considers when
buying a product along with the level of importance, (2) What webuying a product along with the level of importance, (2) What we offer that differentiates our product from competition, and (3) Theoffer that differentiates our product from competition, and (3) The
limitations of competitive products.limitations of competitive products.
MARKETING PLANMARKETING PLANOUTLINEOUTLINE
15-9
A. Product Strategy Identify how each product fits the market target. Other issues that may be addressed would be new product suggestions, adjustments in the mix of existing products, and productdeletion candidates.
B. Price StrategyThe overall pricing strategy (I.e., competitive, premium-priced,etc.) should be identified along with a cost/benefit analysis ifapplicable. Identify what role you want price to play, i.e.,increase share, maintenance, etc.
IV. Market Mix Strategy for Each Market Target
15-10
C. Distribution StrategyDescribe specific distribution strategies for each market target. Issues to be addressed are intensity of distribution(market coverage), how distribution will be accomplished, andassistance provided to distributors. The role of the sales forcein distribution strategy should also be considered.
D. Promotion StrategyPromotion strategy is used to initiate and maintain a flow ofcommunication between the company and the market target.To assist in developing the communications program, theattributes or benefits of our product should be identified foreach market target. How our product differs from competition(competitive advantage) should be listed. The sales force’sresponsibilities in fulfilling the market plan must be integratedinto the promotion strategy. Strategies should be listed for(1) personal selling, (2) advertising, (3) sales promotion, and(4) public relations.
IV. Market Mix Strategy for Each Market Target
15-11
E. Marketing Research
Describe the market research problem and the kind of information needed. Include a statement which addresseswhy this information is needed. The specific marketresearch strategies can be written once the above twosteps have been followed.
V. Coordination with Other Business Functions
Indicate other departments/functions that haveresponsibilities for implementing the marketing plan.
VI. Sales Forecasts and Budgets
VII. Contingency Plans
Indicate how your plans should be modified if eventsshould occur that are different from those assumedin the plan.
15-12
Dimensions of Planning ProcessDimensions of Planning Process
MarketingPlanningProcess
AnalyticalProcess
Dimension
BehavioralProcess
Dimension
OrganizationalProcess
Dimension
TechniquesProceduresSystemsPlanning Models
ManagerialperceptionsParticipationStrategic assumptions
StructureInformationCulture
ProcessConsistency
15-13
Implementing the strategic marketing plan Implementing the strategic marketing plan (1)(1)
* Implementation processImplementation process
* Structural issuesStructural issues
* Behavioral issuesBehavioral issues
* Building implementation effectivenessBuilding implementation effectiveness
* Organizational designOrganizational design
* IncentivesIncentives
* CommunicationsCommunications
* Internal marketingInternal marketing
* Comprehensive approach to improving Comprehensive approach to improving implementationimplementation
15-14
Implementation processImplementation process
IMPLEMENTATIONPROCESS
Activities to be implemented
How implementationwill be done
Responsibility forimplementation
Time and locationof implementation
15-15
ImprovingImplementation
SkilledImplementers
Incentives
OrganizationalDesign
EffectiveCommunications
Improving Implementation
InternalMarketing
15-16
Internal MarketingInternal Marketing
Strategy
Plan
ExternalMarketingProgram
InternalMarketingProgram
Internal MarketingProgram:Targeted at keygroups in thecompany, alliancepartner companies,and other influencers
External MarketingProgramTargeted at keycustomers, segmentsand niches, and otherexternal influencers
15-17
BALANCEDSCORECARD
MANAGEMENTCONTROLSYSTEM
FinancialMeasures
InternalBusinessProcessMeasures
CustomerMeasures
LearningandInnovationMeasures
Comprehensive Approach to Improving Implementation
15-18
Implementing the strategic marketing plan Implementing the strategic marketing plan (2)(2)
* Internal strategy-organization fitInternal strategy-organization fit
*Organizational stretchOrganizational stretch
*The role of external organizationThe role of external organization
15-19
Strategic marketing evaluation and Strategic marketing evaluation and control (1)control (1)
* Customer relationship managementCustomer relationship management
* Overview of control and evaluation activities Overview of control and evaluation activities
*Find new opportunities/avoid threatsFind new opportunities/avoid threats
*Keep performance in line with Keep performance in line with expectationsexpectations
*Solve specific problemsSolve specific problems
15-20
Find NewOpportunities
or AvoidThreats
SolveSpecific
Problems
KeepPerformance
on Target
Evaluation Activities
15-21
Evaluation and controlEvaluation and control
Conductstrategic
marketingaudit
Select performancecriteria and
choose relevantmarketing metrics
Obtain andanalyze
information
Assessperformance andtake necessary
action
15-22
Strategic marketing evaluation and Strategic marketing evaluation and control (2)control (2)
* The strategic marketing auditThe strategic marketing audit
*Results provide basis for selecting Results provide basis for selecting performance criteria to assess actual performance criteria to assess actual performance against lansperformance against lans
15-23
Strategic Marketing AuditStrategic Marketing Audit
Corporate Mission and ObjectivesCorporate Mission and Objectives
Business Composition and StrategiesBusiness Composition and Strategies
Marketing Strategy (for each planning unit)Marketing Strategy (for each planning unit)
Marketing Program ActivitiesMarketing Program Activities
Implementation and Management Implementation and Management
15-24
Marketing performance assessment (1)Marketing performance assessment (1)
* The importance of marketing metricsThe importance of marketing metrics
* The use of marketing metricsThe use of marketing metrics
* Types of marketing metricsTypes of marketing metrics
* Selecting relevant metricsSelecting relevant metrics
* Designing a management dashboardDesigning a management dashboard
15-25
Marketing metrics (A)Marketing metrics (A)
* Marketing metrics focusing on operationsMarketing metrics focusing on operations
* Competitive and customer metricsCompetitive and customer metrics
* Profitability metricsProfitability metrics
* Product and portfolio metricsProduct and portfolio metrics
* Customer profitability metricsCustomer profitability metrics
* Sales and channel metricsSales and channel metrics
* Pricing metricsPricing metrics
* Promotion metricsPromotion metrics
* Advertising, media and web metricsAdvertising, media and web metrics
* Financial metricsFinancial metrics
15-26
Marketing metrics (B)Marketing metrics (B)
* Brand equity metricsBrand equity metrics
* FamiliarityFamiliarity
* PenetrationPenetration
* What they think about the brandWhat they think about the brand
* What they feelWhat they feel
* LoyaltyLoyalty
* AvailabilityAvailability
* Innovation metricsInnovation metrics
* StrategyStrategy
* CultureCulture
* OutcomesOutcomes
15-27
Marketing metrics (C)Marketing metrics (C)
* Internal market metricsInternal market metrics
* Awareness of corporate goalsAwareness of corporate goals
* Perceived caliber of employerPerceived caliber of employer
* Relative employee satisfactionRelative employee satisfaction
* Commitment to corporate goalsCommitment to corporate goals
* Employee retentionEmployee retention
* Perceived resource adequacyPerceived resource adequacy
* Appetite for learningAppetite for learning
* Freedom to failFreedom to fail
* Customer-brand empathyCustomer-brand empathy
* Internal process metricsInternal process metrics
* E.g., internal communicationsE.g., internal communications
15-28
Marketing performance assessment (2)Marketing performance assessment (2)
* Interpreting performance measurement resultsInterpreting performance measurement results
* Opportunities and performance gapsOpportunities and performance gaps* Problem/opportunity definitionProblem/opportunity definition* Interpreting informationInterpreting information
* Determining normal and abnormal variabilityDetermining normal and abnormal variability
* Deciding what actions to takeDeciding what actions to take
15-29
Global issues for planning, Global issues for planning, implementation and controlimplementation and control
* Global marketing planningGlobal marketing planning
* Additional complexityAdditional complexity
* Simplifying assumptionsSimplifying assumptions
* Limited information availabilityLimited information availability
* Accommodate international strategy variabilityAccommodate international strategy variability
* Implementation globallyImplementation globally
* Importance of relationships between domestic Importance of relationships between domestic and international executivesand international executives
* Performance measurement and control globallyPerformance measurement and control globally
* International markets may require different International markets may require different metricsmetrics