Chapter 3

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Chapter 3 Winning Markets: Market-Oriented Strategic Planning Marketing Management Tenth Edition Philip Kotler

Objectives:

Objectives Corporate and division strategic planing Business unit planning The marketing process Product level planning The marketing plan

Market-Oriented Strategic Planning:

Market-Oriented Strategic Planning Objectives Skills Resources Opportunities

Market-Oriented Strategic Planning:

Market-Oriented Strategic Planning Objectives Skills Resources Opportunities Profit and Growth

Corporate Headquarters Planning:

Corporate Headquarters Planning Define the corporate mission Establish strategic business units (SBUs) Assign resources to SBUs Plan new business, downsize older businesses

Strategic-Planning, Implementation, and Control Process:

Strategic-Planning, Implementation, and Control Process Measuring results Diagnosing results Taking corrective action Implementation Planning Corporate planning Division planning Business planning Product planning Organizing Implementing Control

Good Mission Statements::

Good Mission Statements: Limited number of goals Stress major policies & values Define competitive scopes

The Boston Consulting Group’s Growth-Share Matrix:

The Boston Consulting Group’s Growth-Share Matrix 20%- 18%- 16%- 14%- 12%- 10%- 8%- 6%- 4%- 2%- 0 Market Growth Rate 3 ? Question marks ? ? ? 2 1 Cash cow 6 Dogs 8 7 10x 4x 2x 1.5x 1x Relative Market Share .5x .4x .3x .2x .1x Stars 5 4

Market Attractiveness: Competitive- Position Portfolio Classification:

Market Attractiveness: Competitive- Position Portfolio Classification MARKET ATTRACTIVENESS 5.00 3.67 2.33 1.00 Low Medium High Relief valve Flexible diaphragms Fuel pumps Aerospace fittings Clutches Hydraulic pumps Joints Strong Medium Weak BUSINESS STRENGTH 1.00 2.33 3.67 5.00 Invest/grow Selectivity/earnings Harvest/divest

The Strategic-Planning Gap:

Sales 10 5 0 Time (years ) The Strategic-Planning Gap Desired sales Integrative growth Intensive growth Current portfolio Strategic- planning gap Diversification growth

Three Intensive Growth Strategies: Ansoff’s Product/Market Expansion Grid:

Three Intensive Growth Strategies: Ansoff’s Product/Market Expansion Grid 4. Diversification 2. Market development New markets 1. Market penetration Existing markets Existing products 3. Product development New products

Opportunity Matrix:

1 4 2 3 High Low High Low Attractiveness Success Probability Opportunities Opportunity Matrix 1. Company develops a more powerful lighting system 2. Company develops a device for measuring the energy efficiency of any lighting system 3. Company develops a device for measuring illumination level 4. Company develops a software program to teach lighting fundamentals to TV studio personnel

Threat Matrix:

Threat Matrix 1. Competitor develops a superior lighting system 2. Major prolonged economic depression 3. Higher costs 4. Legislation to reduce number of TV studio licenses 1 4 2 3 High Low High Low Seriousness Probability of Occurrence Threats

The McKinsey 7-S Framework:

The McKinsey 7-S Framework Skills Shared values Staff Style Strategy Structure Systems

The Value-Delivery Process:

Sell the product The Value-Delivery Process Make the product Procure Design product Make Price Sell Advertise/ promote Distribute Service Choose the Value Provide the Value Communicate the Value (a) Traditional physical process sequence (b) Value creation & delivery sequence Strategic marketing Tactical marketing

The Marketing Plan:

The Marketing Plan Executive Summary & Table of Contents Current Marketing Situation Opportunity & Issue Analysis Objectives Marketing Strategy Action Programs Projected Profit-and-loss Controls

Factors Influencing Company Marketing Strategy:

Competitors Marketing intermediaries Publics Suppliers Factors Influencing Company Marketing Strategy Marketing information system Marketing planning system Marketing organization system Marketing organization and implementation Product Promotion Place Price Target customers Demographic/ economic environment Social/ cultural environment Technical/ physical environment Political/ legal environment

Review:

Review Corporate and division strategic planing Business unit planning The marketing process Product level planning The marketing plan

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