FOUNDATIONS OF STRATEGIC MARKETING MANAGEMENT

1
FOUNDATIONS OF STRATEGIC MARKETING MANAGEMENT

• Marketing 3349

2
Strategic Marketing Management

• Defining
• A Companys Business
• A Companys Mission
• A Companys Goals

3
A Companys Business

• Types of Customers
• Needs of Customers
• Means or Technology
• Customer Satisfaction Focused

4
A Companys Mission

• Written Statement
• Scope of Operation
• Managements Vision
• Guidance for Market and Product Evaluation
• Inspire and Challenge Employees

5
A Companys Business Goals

• Converts Mission into Tangible Action
• Three Types
• Production
• Marketing
• Financial
• Problem Centered and Future Oriented
• Arise from Situation Analysis

6
Converting Opportunities

• What Might We Do?
• Environmental Opportunity
• What Do We Do Best?
• Distinctive Competency
• What Must We Do?
• Success Requirements

7
S.W.O.T. Analysis

• Strengths
• Distinctive Competency
• Weaknesses
• Obstacles to Opportunities
• Opportunities
• Environmental Opportunity
• Threats

8
Product-Market Strategies

• Market-Penetration
• Expand Market Share
• Market-Development
• Enter New Markets
• Product-Development
• New Product Offerings
• Diversification
• Create or Acquire New Products/Service
• Offer to New Markets

9
Bases for Strategy Selection

• Market Data
• Size
• Buying Behavior
• Requirements
• Environmental Forces Data
• Social (women in workforce)
• Legal (new legislation)
• Political (deregulation)
• Economic (shifts in income)

10
Bases for Strategy Selection

• Competitive Activity
• Evaluate Current Strategies
• Consider Alternative Strategies
• Cost/Benefit Analysis
• Cost to Implement Strategy
• Benefit of Strategy
• Probability of Success

11
Strategy Selection

• A.T. Kearney Probabilities
• Decision Tree Analysis
• Possible Actions
• Competitive Reactions
• Resultant Outcomes

12
Designing The Marketing Mix

• Kind of Product
• Marketing Communications
• Channel Strategy
• Pricing Strategy

13
Budgeting of Resources

• Operating Budget
• Pro-Forma Income Statement (In the Future)
• Revenues, Expenses and Profits
• Financial Budget
• Impact on Corporate Cash
• From Operations
• Capital Expenditures

14
Budgeting of Resources

• Special Budgets
• Sales Forecast
• Marketing Communications
• What-If Scenarios
• Budget Variations tied to Different strategies
• Demonstrate Varying Outcomes
• Help Support Strategy Selection

15
Reformulation and Recovery Strategies

• Strategies often Must Change in Mid-Course
• The Marketing Audit
• Comprehensive and systematic Review
• Marketing Environment
• Objectives and Strategies
• Tactical Activities
• Discovering Problem Areas and Opportunities

16
Reformulation and Recovery Strategies

• The Marketing Audit
• Recommend a Plan to Improve Performance
• Strategic Fit and Operational Performance
• Are we doing the right things?
• Are we doing things right?

17
Reformulation and Recovery Strategies

• Forces Consideration of What-Ifs
• Impact on Strategy of Internal and External
  Changes
• Relationship of Assumptions to Results
• Leads to Contingency Plans
• Speeds Reaction Time

18
Ethics and Social Responsibility

• Just Because Its Legal
• Executives Serve Many Stakeholders
• All Marketing Strategy Has an Element of Moral
  Judgement

19
(No Transcript)