Marketing Strategy

1
Marketing Strategy
2
Creating a Strategic Direction

• Start with the organizational mission what does
  your business do (or hope to do)?
• What happens if you dont define your mission?
• What are the impacts on the employees?
• Once you have described the general direction
  focus on the details (Organizational Goals)
• What happens if you dont set quantitative goals?
• What happens if your goals are unrealistic? Too
  easy?

3
Levels of Organizational Strategy

• Corporate Strategy overall corporate direction,
  mission, budgeting considerations
• Business Unit Strategy (strategic business units
  SBUs) managing individual business areas

• Functional Strategy departmental goals,
  organizational hierarchy

• Product Strategy managing individual products
  or brands

4
Developing Business Strategy

• The number one priority in effective business
  strategy development is understanding the current
  situation.
• Think about road directions how can you
  identify the best route to a destination if you
  dont know your current position?
• Second, you must understand the constraints you
  must work within (budget, timing, resource,
  informational, competitive, etc.)

5
Strategic Development Process

• Phase 1 Planning (where are we, where do we
  want to go, what can we use to get us there?)
• Phase 2 Implementation (from a marketing
  strategy perspective how do we manage the 4 Ps
  to achieve our business goals?)
• Phase 3 Control (Evaluation) you must always
  assess your progress in a timely manner. Thus
  the need for forecasting at many different levels
  in the organization. A good business plan should
  allow for constant adjustment.

6
Strategic Tools

• SWOT analysis (strengths weaknesses
  opportunities threats)
• Advantages? Disadvantages? When should you use
  it?
• Boston Consulting Group Analysis
• Advantages? Disadvantages? When should you use
  it?
• Market-Product Analysis
• Advantages? Disadvantages? When should you use
  it?

7
Strategic Development Trends

• Consider the impact of each of the following on
  strategic development and the business process in
  general
• Cross-functional Teams
• Technology (i.e. the internet, electronic data
  interchange systems, just-in-time inventory
  systems, database management systems)
• Value (partner) networks

8
Final Observations on Business Strategy

• Customers, channels, and competitors are
  constantly changing you must be able to hit a
  moving target.
• You must build on core competencies that are
  forward-looking (an advantage must be developed
  to be sustained).
• Companies influence how markets change, customers
  influence when markets change

9
Boston Consulting Group Analysis (Growth-share
Matrix)
10
Market-Product Analysis