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CHAPTER

DEVELOPING
SUCCESSFUL
MARKETING
AND
CORPORATE
STRATEGIES

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AFTER READING THIS CHAPTER
YOU SHOULD BE ABLE TO:

1. Describe the three organizational levels


of strategy.

1. Describe why business, mission,


organizational culture, and goals are
important in organizations.
1. Explain how organizations set strategic
directions by assessing where they are
now and seek to be in the future.
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AFTER READING THIS CHAPTER
YOU SHOULD BE ABLE TO:

1. Describe the strategic marketing


process and its three key phases:
planning, implementation, and control.
1. Explain how the marketing mix
elements are blended into a cohesive
marketing program.

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WHERE CAN AN “A” IN
ICE CREAM MAKING LEAD?

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ORGANIZATIONS AND THEIR
LEVELS OF STRATEGY

• Profit
• Kinds of Organizations
 Business Firm
 Nonprofit Organization
 Firm, Company, Corporation, Organization

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ORGANIZATIONS AND THEIR
LEVELS OF STRATEGY

• Levels in Organizations and How


Marketing Links to Them
 Corporate Level
 Strategic Business Unit (SBU)
 Business Unit Level
 Functional Level
 Department

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FIGURE 2-1 The three levels of strategy
in organizations: corporate, business unit,
and functional

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ORGANIZATIONS AND THEIR
LEVELS OF STRATEGY

• Strategy Issues in Organizations


 The Business
 The Mission (Mission Statement/Vision)
 Organizational Culture
• Stakeholders
• Organizational Culture

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Medtronic’s “Rising Figure” Mural
What does it signify to stakeholders?

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ORGANIZATIONS AND THEIR
LEVELS OF STRATEGY

• Strategy Issues in Organizations


 Goals or Objectives
• Profit • Customer Satisfaction

• Sales • Employee Welfare

• Market Share • Social Responsibility

• Quality

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Concept Check

1. What are the three levels in today’s


large organizations?
A: The corporate, business unit, and
functional levels exist in large
corporations.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-11
Concept Check

2. What is the meaning of an


organization’s mission?
A: Mission is a statement of the
organization’s scope, often
identifying its customers, markets,
products, technology, and values.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-12
Concept Check

3. How do an organization’s goals


relate to its mission?
A: Goals or objectives measure how
well the organization’s mission is
being accomplished.

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SETTING STRATEGIC DIRECTIONS

• A Look Around: Where Are We Now?


 Customers
 Competencies
• Competitive Advantage

 Competitors

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Lands’ End Unconditional Guarantee
What is the strategic focus?

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SETTING STRATEGIC DIRECTIONS

• Growth Strategies: Where Do We Want


to Go?
 Business Portfolio Analysis (BCG)
• Market Growth Rate

• Relative Market Share


 Cash Cows  Question Marks or Problem Children

 Stars  Dogs

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FIGURE 2-2 Boston Consulting Group
portfolio analysis for Kodak, as it might
appear in 2006

Kodak digital Kodak digital


camera photo printer

Kodak film sales: US, Kodak self-


Canada, & W. Europe service kiosk

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Kodak Traditional Film Cartridge
What SBU type in the BCG growth-share matrix?

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Kodak Digital Camera
What SBU type in the BCG growth-share matrix?

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Kodak Digital Photo Printer
What SBU type in the BCG growth-share matrix?

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Kodak Picture Maker Self-Service Kiosk
What SBU type in the BCG growth-share matrix?

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SETTING STRATEGIC DIRECTIONS

• Growth Strategies: Where Do We Want


to Go?
 Market-Product Analysis
• Market Penetration

• Market Development

• Product Development

• Diversification

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FIGURE 2-3 Four market-product strategies:
alternative ways to expand sales revenues
for Ben & Jerry’s

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Concept Check

1. What are competencies and why are


they important?
A: Competencies are an organization’s
special capabilities, including skills,
technologies, and resources that
distinguish it from other organizations,
which if exploited, can lead to the
organization’s success.

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Concept Check

2. What is business portfolio analysis?


A: Business portfolio analysis studies a
firm’s business units as though they
were a collection of separate
investments.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-25
Concept Check

3. What are the four market-product


strategies?
A: (1) market penetration; (2) market
development; (3) product
development; and (4) diversification.

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THE STRATEGIC MARKETING
PROCESS

• How do we allocate our resources to get where


we want to go?
• How do we convert our plans to actions?
• How do our results compare with our plans,
and do deviations require new plans?
 Strategic Marketing Process
 Marketing Plan

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FIGURE 2-4 The strategic marketing
process

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THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Planning Phase
 Step 1: Situation (SWOT) Analysis
• Situation Analysis

• SWOT Analysis
 Strengths  Weaknesses

 Opportunities  Threats

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FIGURE 2-5 Ben & Jerry’s: a SWOT analysis
to get it growing again

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Ben & Jerry’s One Sweet Whirled Campaign
What is the impact of a SWOT analysis?

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THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Planning Phase
 Step 2: Market-Product Focus and Goal Setting
• Market Segmentation

• Set Marketing and Product Goals

• Select Target Markets

• Find Points of Difference

• Position the Product


Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-32
Medtronic’s Champion Heart Pacemaker
What features are important to the Asian market?

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THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Planning Phase
 Step 3: Marketing Program
• Product Strategy

• Price Strategy

• Promotion Strategy

• Place (Distribution) Strategy

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FIGURE 2-6 Elements of the marketing mix
that comprise a cohesive marketing program

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Concept Check

1. What is the difference between a


strength and an opportunity in a
SWOT analysis?
A: Both are positive factors for the
organization, but a strength is an
internal factor whereas an
opportunity is an external one.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-36
Concept Check

2. What is market segmentation?

A: Market segmentation involves


aggregating prospective buyers into
groups, or segments, that (1) have
common needs and (2) will respond
similarly to a marketing action.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-37
Concept Check

3. What are points of difference and


why are they important?
A: Points of difference are those
characteristics of a product that make
it superior to competitive substitutes.
They are the single most important
factor in the success or failure of a
new product.
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-38
THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Implementation Phase
 Obtaining Resources
 Designing the Marketing Organization
 Developing Schedules

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FIGURE 2-7 Organization of a typical
manufacturing firm showing a breakdown of
the marketing department

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THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Implementation Phase
 Executing the Marketing Program
• Marketing Strategy

• Marketing Tactics

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-41
Kodak EasyShare Cameras in China
What marketing strategy & tactics are used?

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-42
THE STRATEGIC MARKETING
PROCESS

• Strategic Marketing Process:


The Control Phase
 Comparing Results With Plans to Identify
Deviations
• Planning Gap

 Acting on Deviations
• Exploiting a Positive Deviation

• Correcting a Negative Deviation


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FIGURE 2-8 Evaluation and control of
Kodak’s marketing program

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Concept Check

1. What is the control phase of the


strategic marketing process?
A: This is the phase that seeks to keep
the marketing program moving in the
direction set for it.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-45
Concept Check

2. How do the objectives set for a


marketing program in the planning
phase relate to the control phase of
the strategic marketing process?
A: The planning phase objectives are
used as the benchmarks to which the
actual performance results are
compared in the control phase.
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-46
GOING ONLINE

MEDTRONIC’S MISSION
STATEMENT

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Going Online

1. What stakeholders are specifically


mentioned or implied in Medtronic’s
mission? What values are associated
with each stakeholder?

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Going Online

2. What is the scope of Medtronic’s


mission? Why does Medtronic limit
its scope?

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-49
Going Online

3. Why does Medtronic NOT define


itself as being in the “medical
device” business?

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-50
VIDEO CASE 2
BP: ALLOCATING RESOURCES
TO BRING YOU GASOLINE
AND FRESH BREAD!

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VIDEO CASE 2
BP

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VIDEO CASE 2
BP

1. How does BP use its strategic


marketing process to allocate
resources to opportunities such as the
BP Connect concept? Is BP Connect
consistent with BP’s mission and
values? Explain.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-53
VIDEO CASE 2
BP

2. Conduct a SWOT (strengths,


weaknesses, opportunities, threats)
analysis for the BP Connect concept
—looking forward globally to the
next three years.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-54
VIDEO CASE 2
BP

3. In addition to features such as high-


tech pumps and twenty-first century
information technology, what other
marketing mix activities would you
recommend as part of Step 3 of the
planning phase?

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SUPPLEMENTAL
LECTURE NOTE 2-1
MARKETING VERSUS
BUSINESS PLANS

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FIGURE A-1 Elements in typical marketing
and business plans targeted at different
audiences

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SUPPLEMENTAL
LECTURE NOTE 2-2
PLANNING VS.
IMPLEMENTATION ISSUES

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FIGURE 2-A Results of good and bad
marketing planning and implementation

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SUPPLEMENTAL
LECTURE NOTE 2-3
ORGANIZING FOR
MARKETING

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FIGURE 2-B Organization of a business unit
in a typical consumer packaged goods firm,
showing two product or brand groups

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FIGURE 2-C Units with which the product
manager and product group work

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SUPPLEMENTAL
LECTURE NOTE 2-4
PROJECT SCHEDULING
USING GANTT CHARTS

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FIGURE 2-D Tasks to complete a term
project

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FIGURE 2-E Gantt chart for scheduling the
term project

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IN-CLASS ACTIVITY 2-1

MARKETING YOURSELF

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Yahoo!/Hot Jobs TV Ad

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Sample Résumé

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Sample Cover Letter

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IN-CLASS ACTIVITY 2-2

MARKETING PLANNING
WORKSHEET

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Profit

Profit is the reward to a business firm


for the risk it undertakes in offering a
product for sale. It is also the money left
over after a firm’s total expenses are
subtracted from its total sales.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-73
Mission

Mission is a statement of the


organization’s scope, often identifying its
customers, markets, products, technology,
and values.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-74
Organizational Culture

Organizational culture is a set of values,


ideas, and attitudes that is learned and
shared among the members of an
organization.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-75
Goals or Objectives

Goals or objectives convert the mission


into targeted levels of performance to be
achieved, often by a specific time.

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Market Share

Market share is the ratio of sales revenue


of the firm to the total sales revenue of all
firms in the industry, including the firm
itself.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-77
Strategic Marketing Process

The strategic marketing process is the


approach whereby an organization
allocates its marketing mix resources to
reach its target markets.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-78
Marketing Plan

A marketing plan is a road map for the


marketing activities of an organization for
a specified future period of time, such as
one year or five years.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-79
Situation Analysis

Situation analysis involves taking stock


of where a firm or product has been
recently, where it is now, and where it is
headed in terms of the organization’s
plans and the external factors and trends
affecting it.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-80
SWOT Analysis

SWOT analysis is an acronym describing


an organization’s appraisal of its internal
Strengths and Weaknesses and its
external Opportunities and Threats.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-81
Market Segmentation

Market segmentation involves


aggregating prospective buyers into
groups, or segments, that (1) have
common needs and (2) will respond
similarly to a marketing action.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-82
Points of Difference

Points of difference are those


characteristics of a product that make it
superior to competitive substitutes.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-83
Marketing Strategy

A marketing strategy is the means by


which a marketing goal is to be achieved,
usually characterized by a specific target
market and a marketing program to reach
it.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-84
Marketing Tactics

Marketing tactics are detailed


day-to-day operational decisions essential
to the overall success of marketing
strategies.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2-85