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Learning Objectives

Explain company-wide strategic


planning and its four steps.
Discuss how to design business
portfolios and develop growth
strategies.
Explain marketings role in strategic
planning and how marketing works
with its partners to create and deliver
customer value.
Copyright 2015 Pearson Education, Inc.

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Learning Objectives
Describe the elements of a customer

driven marketing strategy and mix


and the forces that influence it.
List the marketing management
functions, including the elements of a
marketing plan, and discuss the
importance of measuring and
managing return on marketing
investment.
Copyright 2015 Pearson Education, Inc.

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First Stop: Nikes


Customer-Driven Marketing
To build image and market share, Nike
Outspent competitors on big endorsements.
Conducted splashy promotional events.
Started big-budget ads.

Nike sales slipped in the late 1990s.


Turnaroundnew product innovation
and a focus on customer relationships
Mastered social networking, creating deep
engagement and community among
customers
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Strategic Planning
Strategic planning involves adapting
the firm to take advantage of
opportunities in its constantly
changing environment.
Strategic planning helps a firm to
maintain a strategic fit between its
goals and capabilities and its
changing marketing opportunities.

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Figure 2.1 - Steps in


Strategic Planning

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Mission Statement
Statement of the organizations
purpose
What it wants to accomplish in the larger
environment

Market oriented and defined in terms


of satisfying basic customer needs
Emphasizes the companys strengths
Focuses on customers and the
customer experience the company
seeks to create
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Setting Company Objectives


and Goals

The mission should be converted to


supporting objectives at each level of
management.
The mission leads to setting a
hierarchy of objectives.
Business objectives
Marketing objectives

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Business Portfolio
Collection of businesses and products
that make up the company
Steps in business portfolio planning:
Analyze the firms current business
portfolio
Develop strategies for growth and
downsizing to shape the future portfolio

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Portfolio Analysis
Evaluation of the products and businesses
that make up the company by the
management
Steps:
Identifying the strategic business units (SBUs)
Assessing the attractiveness of its various
SBUs and deciding the support each SBU
deserves

The purpose is to direct resources toward


more profitable businesses while phasing out
or dropping weaker ones.
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Figure 2.2 - The BCG


Growth-Share Matrix

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Growth-Share Matrix
Evaluates a companys SBUs in terms
of market growth rate and relative
market share
Problems
Difficult, time consuming, and costly to
implement
Difficult to define SBUs and measure
market share and growth
Focuses on classifying current businesses
but provide little advice for future planning
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Figure 2.3 - The


Product/Market Expansion
Grid

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Downsizing
Reduces the business portfolio by
eliminating products or business units
that are not profitable or that no
longer fit the companys overall
strategy
Reasons for downsizing:

Rapid growth of the company


Lack of experience in a market
Change in market environment
Decline of a particular product
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Role of Marketing in
Strategic Planning
Provides a guiding philosophy
Marketing conceptcompany strategy
should create customer value and build
profitable relationships with the key
customers

Provides inputs to strategic planners


Helps identify market opportunities and
assess the firms potential to take
advantage of them

Designs strategies for reaching the


units objectives
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Partnering with Other


Company Departments
Value chain: Series of internal
departments that carry out valuecreating activities
Firms success depends on how well
the various departments coordinate
their activities.
Marketers should ensure all the
departments are customer-focused
and develop a smooth functioning
value chain.
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Partnering with Others in


the Marketing System
Companies should assess:
Their internal value chains.
The value chains of their suppliers,
distributors, and their customers.

Value delivery network: Made up


of the company, its suppliers, its
distributors, and its customers who
partner with each other
To improve the performance of the
entire system
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Marketing Strategy
Marketing logic by which the company
hopes to create customer value and
achieve profitable customer
relationships
Marketing mix: Integration of product,
price, place, and promotion
Activities for best marketing strategy
and mix involve:
Marketing analysis
Planning, implementation, and control
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Market Segmentation and


Market Targeting

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Positioning
Arranging for a product to occupy a
clear, distinctive, and desirable place
relative to competing products in the
minds of target consumers
Begins with differentiation
Differentiation: Differentiating the market
offering to create superior customer value

The entire marketing program should


support the chosen positioning strategy.
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Figure 2.5 - The Four Ps of


the Marketing Mix

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Criticisms of the Four Ps


Omit or underemphasize service
products
Need to include packaging as a
product decision
Does not cater to the buyers
perspective of the four Cs:

Customer solution
Customer cost
Convenience
Communication
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Figure 2.6 - Managing Marketing:


Analysis, Planning,
Implementation, and Control

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Figure 2.7 - SWOT Analysis: Strengths (S),


Weaknesses (W), Opportunities (O), and
Threats (T)

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Contents of a Marketing
Plan
Section
Executive
summary

Purpose
Brief summary of the main
goals and recommendations

Current marketing Gives the market description


situation
and the product, competition,
and distribution review
Threats and
opportunities
analysis

Helps management to
anticipate important positive or
negative developments

Objectives and
issues

States and discusses marketing


objectives and key issues
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Contents of a Marketing
Plan
Section

Purpose

Marketin Outlines the broad marketing logic and the


g
specifics of target markets, positioning,
strategy marketing expenditure levels, and strategies
for each marketing mix element
Action
Spells out how marketing strategies will be
program turned into specific action programs
s
Budgets

Details a supporting marketing budget that is


a projected profit-and-loss statement

Controls

Outlines the controls that will be used to


monitor progress, allow management to
review implementation
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Market Implementation
Turning marketing strategies and
plans into marketing actions to
accomplish strategic marketing
objectives
Addresses the who, where, when,
and how of the marketing activities

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Marketing Department
Organization

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Marketing Control
Measuring and evaluating the results
of marketing strategies and plans
Operating control ensures that the
company achieves the sales, profits,
and other goals set out in its annual
plan.
Strategic control involves looking at
whether the companys basic
strategies are well matched to its
opportunities.
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Marketing Return on
Investment (ROI)
Net return from a marketing
investment divided by the costs of
the marketing investment
Assessed using:
Standard marketing performance
measures
Customer-centered measures

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Figure 2.8 - Marketing


Return
on Investment

Source: Adapted from Roland T. Rust, Katherine N. Lemon, and Valerie A. Zeithaml, Return on Marketing: Using Consumer Equity to Focus Marketing
Strategy, Journal of Marketing, January 2004, p. 112. Used with permission.

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Learning Objectives

Explain company-wide strategic


planning and its four steps.
Discuss how to design business
portfolios and develop growth
strategies.
Explain marketings role in strategic
planning and how marketing works
with its partners to create and deliver
customer value.
Copyright 2015 Pearson Education, Inc.

2 - 32

Learning Objectives
Describe the elements of a customer

driven marketing strategy and mix


and the forces that influence it.
List the marketing management
functions, including the elements of a
marketing plan, and discuss the
importance of measuring and
managing return on marketing
investment.
Copyright 2015 Pearson Education, Inc.

2 - 33

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retrieval system, or transmitted, in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the prior written
permission of the publisher. Printed in the United States of America.

Copyright 2015 Pearson Education, Inc.