pride_marketing14e_basic_ch02

Chapter 2Planning, Implementing, and ControllingMarketing Strategies : 

Chapter 2Planning, Implementing, and ControllingMarketing Strategies

Objectives : 

Objectives Describe strategic planning process Explain how organizational resources & opportunities affect planning process Understand role of mission statement in strategic planning Examine corporate, business-unit, and marketing strategies Understand process of creating marketing plan Describe marketing implementation process and major approaches to marketing implementation

Strategic Planning : 

Strategic Planning The process of establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan. Strategic Marketing Plan FAQs

Components OfStrategic Planning : 

Components OfStrategic Planning Source: From Marketing Strategy, 2nd Edition. Reprinted with permission of South-Western, a division of Thomson Learning: www .thomsonrights.com. Fax 800- 730-2215.

Marketing Strategy : 

Marketing Strategy A plan of action for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market. Apple’s iPod

Effective Marketing Strategy : 

Effective Marketing Strategy Reflects overall direction of organization Coordinated with firm’s functional areas Contributes to achievement of: Marketing objectives Organizational goals Apple’s Unusual Marketing Strategy

Marketing Plan : 

Marketing Plan A written document that specifies the activities to be performed to implement and control the organization’s marketing activities.

Assessing Organizational Resources and Opportunities : 

Assessing Organizational Resources and Opportunities Assessing financial and human resources Capabilities vs. changes Marketing and financial affect Goodwill, reputation and brand as resources

Core Competencies : 

Core Competencies Things a firm does extremely well, which sometimes give it an advantage over its competition. Core competencies

Market Opportunity : 

Market Opportunity A combination of circumstances and timing that permits an organization to take action to reach a particular target market.

Strategic Window : 

Strategic Window Temporary periods of optimal fit between the key requirements of a market and the particular capabilities of a firm competing in the market.

Competitive Advantage : 

Competitive Advantage The result of a company’s matching a core competency to opportunities it has discovered in the marketplace. Dell vs. Apple

SWOT Analysis : 

SWOT Analysis Strengths Weaknesses Opportunities Threats

Customer Satisfaction : 

Customer Satisfaction Strengths Advantages Weaknesses Disadvantages Opportunities Threats

Four-Cell SWOT Matrix : 

Four-Cell SWOT Matrix Source: Adapted from Nigel F. Piercy, Market-Led Strategic Change.Copyright © 1992 Butterworth-Heinemann Ltd., p. 371. Reprinted with permission.

Establishing an Organizational Mission and Goals : 

Establishing an Organizational Mission and Goals Mission Statement A long-term view, or vision, of what the organization wants to become.

MissionStatement Answers: : 

MissionStatement Answers: Who are our customers? What is our core competency?

Corporate Identity : 

Corporate Identity Unique Symbols Personalities Philosophies

Marketing Objective : 

Marketing Objective A statement of what is to be accomplished through marketing activities.

Marketing Objectives Terms : 

Marketing Objectives Terms Product Introduction Improvement Innovation Sales Volume Profitability Market Share Pricing Distribution Advertising Employee Training

MarketingObjective Characteristics : 

MarketingObjective Characteristics Clear, simple terms Measurable Specify time frame Consistent with unit and corporate strategy

Developing Corporate, Business-Unit, and Marketing Strategies : 

Developing Corporate, Business-Unit, and Marketing Strategies

Corporate Strategy : 

Corporate Strategy A strategy that determines the means for utilizing resources in the various functional areas to reach the organization’s goals.

Microsoft Announces Shift In Corporate Strategy : 

Microsoft Announces Shift In Corporate Strategy “Trustworthy Computing” Emphasize security and privacy over new capabilities Highest priority is to ensure that computer users continue to venture across an increasingly Internet-connected world “Microsoft announces corporate strategy toward security and privacy” Information Security News, “Microsoft announces corporate strategy toward security and privacy”, Jan. 2002, http://seclists.org/lists/isn/2002/Jan/0092.html ?

Business-Unit Strategy : 

Business-Unit Strategy Strategic Business Unit (SBU) A division, product line, or other profit center within the parent company. Example of SBU organization

Market : 

Market A group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products.

Market Share : 

Market Share The percentage of a market that actually buys a specific product from a particular company.

Growth Share Matrix : 

Growth Share Matrix

Marketing Strategy : 

Marketing Strategy Components of marketing strategy Selecting target markets Creation of marketing mix.

SustainableCompetitive Advantage : 

SustainableCompetitive Advantage An advantage that the competition cannot copy.

Marketing Planning : 

Marketing Planning The process of assessing marketing opportunities and resources, determining marketing objectives, defining marketing strategies, and establishing guidelines for implementation and control of the marketing program.

Marketing Implementation : 

Marketing Implementation The process of putting marketing strategies into action.

Intended Strategy : 

Intended Strategy The strategy the organization decided on during the planning phase

Realized Strategy : 

Realized Strategy The strategy that actually takes place

Components OfThe Marketing Plan : 

Components OfThe Marketing Plan

Approaches ToMarketing Implementation : 

Approaches ToMarketing Implementation Customers External Internal Internal Marketing Total Quality Management Benchmarking Empowerment

External Customers : 

External Customers Individuals who patronize a business.

Internal Marketing : 

Internal Marketing A management philosophy that coordinates internal exchanges between the organization and its employees to achieve successful external exchanges between the organization and its customers.

Total Quality Management : 

Total Quality Management A philosophy that uniform commitment to quality in all areas of the organization will promote a culture that meets customers’ perceptions of quality.

Benchmarking : 

Benchmarking Comparing the quality of the firm’s goods, services, or processes with that of its best-performing competitors.

Empowerment : 

Empowerment Giving customer-contact employees authority and responsibility to make marketing decisions without seeking approval of their supervisors.

OrganizingMarketing Activities : 

OrganizingMarketing Activities Organization Centralized Decentralized Structure Function Product Region Type of customer

Controlling Marketing Activities : 

Controlling Marketing Activities Marketing Control Process Establishing performance standards, evaluating actual performance by comparing it with established standards, and reducing the difference between desired and actual performance.

The MarketingControl Process : 

The MarketingControl Process