Marketing: Planning and Strategy

1
Marketing Planning and Strategy
2
Strategy Definition

• A pattern of major objectives, goals, essential
  policies and plans that define the current or
  future firms business and the kind of company
  the firm is now or is to become.

3
Why do we need to Strategize

• Finite resources
• Uncertainty about competitive strengths
• Irreversible commitment of resources
• Coordinated decisions
• Uncertainty about control of initiative

4
Elements of Marketing Strategy Formulation
5
SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

6
Identifying and Framing Organizational Growth
Opportunities
Converting Environmental Opportunities into
Organizational Opportunities

• What might we do? - environmental opportunity
• What do we do best? - distinctive competency
• What must we do? - success requirements

7
The Marketing Mix

• Product strategy
• Promotion/Communication strategy
• Placement/Distribution/Channel strategy
• Pricing strategy

8
Formulating Product-Market Strategies
Markets
Existing
New
Market Penetration
Market Development
Existing
Offerings
New Offering Development
New
Diversification
9
Formulating Product-Market Strategies

• Market Penetration Strategy
• greater dominance is key
• Market Development Strategy
• exporting
• licensing
• joint venture
• direct investment

10
Formulating Product-Market Strategies

• Product-Development Strategy
• product innovation
• product augmentation
• product line extension
• cannibalism
• Diversification

11
Drafting a Marketing Plan

• Context and Scope of Marketing Effort
• Focus Business, Product, Brand
• Time Dimension Short-run, Long-run

12
Decisions About Competing

• Where (markets)
• When (Entry)
• How

13
Problems in Strategic Marketing

• Too much emphasis on
• where to compete
• Too little emphasis on
• how to compete
• when to compete
• adaptability
• uniqueness

14
Implementation Common Problems

• Simplify marketing strategies
• More focus on uniqueness and adaptability
• Improve speed and flexibility