Strategic Marketing Workshop Presentation

Marketing Strategy Workshop : 

Marketing Strategy Workshop

Meeting Goals : 

Meeting Goals Review business and marketing strategies Provide feedback on marketing strategy Provide strategic insight on business

Problem Definition : 

Problem Definition Problem No specific strategy No structure - customer target focus in sales & management Sales people do not know the needs of the specific customer No CI No Strength/Weakness profile comparing to competition No experience in bounce management & customer service Service products are not defined relating to workload Sales cycle is longer than expected – depends on customer Burn rate faster than planned, more funds needed No strategic partnerships

There are 3 steps to strategy formulation : 

There are 3 steps to strategy formulation Strategic Analysis Positioning Implementation

The Strategic Analysis has three parts : 

The Strategic Analysis has three parts Industry Analysis Company Analysis Issue Analysis Strategic Analysis Positioning Implementation

Strategic Analysis has three parts : 

Strategic Analysis has three parts Industry Analysis Company Analysis Issue Analysis Clarify the position of the company in the market Evaluate specific issues critical to making strategic decisions Understand the dynamics of the market

Establish the frame of reference : 

Establish the frame of reference Industry Sectors ____________ ____________ ____________ ____________ ____________ Geography Worldwide Europe US

This Strategic Analysis requires 5 separate Industry Analyses : 

This Strategic Analysis requires 5 separate Industry Analyses Industry Analysis Company Analysis Issue Analysis Understand the dynamics of the market Related Industries __________________ __________________ __________________ __________________ __________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

Market Definition : 

Market Definition __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

Produkt Definition : 

Produkt Definition __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

Channel Analysis : 

Channel Analysis __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

B2B segmentation possibilities : 

B2B segmentation possibilities by end user industry sector by application (problems to be solved) by geography by size of firm by buyer sophistication by purchasing behavior and so on...

Customer Segments by end user industry sector : 

Customer Segments by end user industry sector Banks Retail, Private Insurance Direct, Indirect Commercial, Consumer Media By Medium: Print, TV, Radio, Internet By application Travel Transport Companies, Agencies, Tour Operators, Hotels Agencies Direct Marketing, PR, Interactive, Investor Relations

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior Price Analysis Context Analysis

Purchasing Behavior : 

Purchasing Behavior __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

Price Analysis : 

Price Analysis __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Market Definition/Size Product Defintion Channel Analysis Customer Segmentation Purchasing Behavior/Criteria Price Analysis Context Analysis

Context Analysis : 

Context Analysis __________________________ __________________________ __________________________

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy

Who will do what in the value chain? : 

Who will do what in the value chain?

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Identify & Analyze competitors Porter’s 5 Forces Key Success Factors

Competitor Segmentation : 

Competitor Segmentation High Price Low Low High Perceived Quality

Generic strategies of competitors : 

Generic strategies of competitors Differentiation Price Leadership Focus Low High

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Identify & Analyze competitors Porter’s 5 Forces Key Success Factors

Porter 5 Forces : 

Porter 5 Forces Supplier Power Buyer Power Threat of New Entrants Substitutes Competition

The Industry Analysis is done in 3 parts : 

The Industry Analysis is done in 3 parts Market Overview Value Chain Analysis Competitive Strategy Identify & Analyze competitors Porter’s 5 Forces Key Success Factors

Key Success Factors : 

Key Success Factors __________________________ __________________________ __________________________

The summary of the Industry Analysis lies in its Opportunities and Threats : 

The summary of the Industry Analysis lies in its Opportunities and Threats Industry Analysis Company Analysis Issue Analysis Clarify the position of the company in the market Evaluate specific issues critical to making strategic decisions Understand the dynamics of the market

Opportunities : 

Opportunities __________________________ __________________________ __________________________

Threats : 

Threats __________________________ __________________________ __________________________

The Company Analysis shows us the current position of the company in the market : 

The Company Analysis shows us the current position of the company in the market Industry Analysis Company Analysis Clarify the position of the company in the market Evaluate specific issues critical to making strategic decisions Understand the dynamics of the market Issue Analysis

The KLP and BI must be addressed in future strategy : 

The KLP and BI must be addressed in future strategy Strengths Weaknesses Opportunities Threats Industry Analysis Company Analysis Key Leverage Points Business Implications

SWOT : 

SWOT Key Leverage Points ____________________ ____________________ ____________________ ____________________ Business Implications ___________________ ___________________ ___________________ ___________________ Strengths Weaknesses Opportunities Threats _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________

USP / Sustainable Competitive Advantage : 

USP / Sustainable Competitive Advantage __________________________ __________________________ __________________________

The Strategic Analysis has 3 Parts : 

The Strategic Analysis has 3 Parts Industry Analysis Company Analysis Clarify the position of the company in the market Evaluate specific issues critical to making strategic decisions Understand the dynamics of the market Issue Analysis

Which specific issues critical to making strategic decisions need evaluation? : 

Which specific issues critical to making strategic decisions need evaluation? __________________________ __________________________ __________________________

Issue Analysis : 

Issue Analysis __________________________ __________________________ __________________________

Positioning is the second step of strategy formulation : 

Positioning is the second step of strategy formulation Strategic Analysis Positioning Implementation

Positioning means arranging the troops before the battle : 

Positioning means arranging the troops before the battle Strategic Analysis Positioning define product define industry competition context & trends channels -direct vs. indirect company costs & revenues customer segmentation by: - end user industry - geography - product usage - purchasing behavior, etc. SWOT / 5 forces define vision define objectives choose positioning - focus - broad differentiation • quality • performance • unique • people - customer seg. & internal skills • product • pricing • place • promotion - push vs. pull Marketing Mix - 5P’s Sales Goals & Financial Implications 5M’s of Advertising • mission • money • message • media • measurement Plans

The Greek Temple shows where the company wants to go - it’s vision : 

The Greek Temple shows where the company wants to go - it’s vision Vision 3 Strategies Core Values What the company strives to become in 2-3 words Strategy 1 Strategy 2 Strategy 3 Core Values 1 2 3 4 The Greek Temple Model

Setting Objectives : 

Setting Objectives “It is important to distinguish between objectives and strategies. A business objective is a desired end result; a strategy is a plan for getting there.” Objectives may be set at various levels. For the enterprise as a whole, the objectives may be to achieve a certain rate of profitability. Further, responsibility may be distributed to managers of individual divisions so that the enterprise as a whole accomplishes its mission. At the level of individual products and markets, objectives may be expressed in terms of customer satisfaction, market share and margins. “The importance of explicitly defining objectives to give purpose and direction to strategies cannot be overestimated.”

Making a generic choice : 

Making a generic choice Differentiation Price Leadership Focus Low High Today In Future

The 5 P’s of the Marketing Mix : 

The 5 P’s of the Marketing Mix People: Which relevant customer segments exist? Which segment shall we target? What internal skills are necessary to serve the segments? Product: What type and range of products / services to offer? Price: What price level to set? Place: Distribution, What intermediaries to use if any? Promotion: What to communicate? Through what vehicles?

Promotion means determining the 5 M’s of Advertising : 

Promotion means determining the 5 M’s of Advertising Mission - What is the mission of the promotion? Money - How much should it cost? Message - What will we say? Media - On which media will we say it? Measurement - How will we measure the success of the promotion?

Customer Segmentation is also the key to creating focus and success : 

Customer Segmentation is also the key to creating focus and success

Strategic marketing issues facing a business : 

Strategic marketing issues facing a business Whom should we serve? With whom should we compete? How can we outperform the competition?

The Premises of Marketing : 

The Premises of Marketing Markets represent dissimilar buyer needs Any given marketing offering can satisfy only some of the needs, not all

The Process of Customer Segmentation : 

The Process of Customer Segmentation Analyze the customers in the market Divide them into meaningful segments of buyers Select certain segments to target Design a marketing program (Mix) for each segment

B2B segmentation possibilities : 

B2B segmentation possibilities by end user industry by application (problems to be solved) by geography by size of firm by buyer sophistication by purchasing behavior and so on...

B2C segmentation possibilities : 

B2C segmentation possibilities Geographic region, city size, population density, climate, transportation Demographic sex, age, family size, income, occupation, education, ethnic group Psychographic alienation, conservatism, dogmatism, innovativeness, fashion consciousness, price awareness, self-confidence Behavioral rate of use, information used, shopping frequency, store loyalty, brand loyalty, product use Benefit economy, function, status, style, sociability

Selecting a target segment is the single most important decision : 

Selecting a target segment is the single most important decision Reasons: forces understanding the customer problem focuses the firm’s efforts / commits resources allows competitive advantage

In mature markets, there are two opposite segmentation strategies : 

In mature markets, there are two opposite segmentation strategies Vertical Segment Horizontal Segment Total Market

Essential Criteria for a good target : 

Essential Criteria for a good target Customer: Satisfies a need / solves a problem Company: Builds on a central strength Competition: Allows outperforming other contenders

The 5 P’s of Marketing Decisions for Positioning : 

The 5 P’s of Marketing Decisions for Positioning People: Product: Price: Place: Promotion:

Promotion means determining the 5 M’s of Advertising : 

Promotion means determining the 5 M’s of Advertising Mission - Money - Message - Media - Measurement -

General recommendations for selling in a tight economy : 

General recommendations for selling in a tight economy Identify still hot industries & sectors Target and prospect specific accounts Market yourself more Create needs versus taking orders Don’t abandon your old customers

After establishing the positioning, the details of implementing the strategy can be addressed : 

After establishing the positioning, the details of implementing the strategy can be addressed Strategic Analysis Positioning Implementation

Best wishes for a successful execution! : 

Best wishes for a successful execution! Strategic Analysis Positioning Implementation