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Strategic Marketing Planning

Strategic marketing planning involves focusing on tomorrow's problems rather than today's. It is a proactive process that develops a strategic fit between a company's goals, capabilities, and changing market opportunities. The steps include defining the company mission, setting goals and objectives, designing the business portfolio, analyzing market opportunities, selecting target markets, developing the marketing mix, and managing the marketing effort. The ultimate goal is to position a product in a clear, distinctive, and desirable place in the minds of customers.

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110 views19 pages

Strategic Marketing Planning

Strategic marketing planning involves focusing on tomorrow's problems rather than today's. It is a proactive process that develops a strategic fit between a company's goals, capabilities, and changing market opportunities. The steps include defining the company mission, setting goals and objectives, designing the business portfolio, analyzing market opportunities, selecting target markets, developing the marketing mix, and managing the marketing effort. The ultimate goal is to position a product in a clear, distinctive, and desirable place in the minds of customers.

Uploaded by

Anonymous CzxY69
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Strategic Marketing Planning

The Road Ahead

The Value of Planning


z

Bad Managers focus on yesterdays problems

Good Managers focus on todays problems

Excellent Managers focus on tomorrow's


problems
(Johnson et al, 1994)

Approaches to Planning

REACTIVE
ASSUMPTION

ACTIONS

PROACTIVE

Environmental
Forces
Uncontrollable

Environmental
Forces Partially
Uncontrollable

Adjustment

Anticipation and
Influence
(Bovee et al, 1995)

Strategic Planning Definition

The process of developing and maintaining a


strategic fit between the organizations goals and
capabilities and its changing marketing
opportunities. It involves defining a clear
company mission, setting supporting objectives,
designing a sound business portfolio, and
coordinating functional strategies

(Kotler and Armstrong, 2001)

Steps in Strategic Planning


Defining the Company Mission
Setting Company Goals and Objectives

CORPORATE
LEVEL

Designing the Business portfolio

Marketing Plans,
Manufacturing Plans etc.

BUSINESS
LEVEL

Defining the Company Mission


A statement of the organizations purpose- what
it wants to accomplish in the larger environment
(op. cit.)
z
z
z
z

Market Oriented not Product Oriented


Realistic and Specific
Based on Distinctive Competencies
Motivating

Market- Oriented
Business Definitions
Product Oriented
Revlon

We make Cosmetics

Disney

We run Theme Parks We create fantasies

O.M. Scott

Market Oriented

We sell grass seed


and fertilizer
IBM
We sell computers
and software
Amazon.com We sell CDs, books,
DVDs etc.

We sell hope

We deliver green
gardens
We provide IT
solutions
We make Internet
buying fast and easy

Setting Company
Goals and Objectives
z

Goals

Overall aims
z

Objectives

Quantification (if possible) or more precise


statement of the goal
(Johnson and Scholes, 1993)

Designing the
Business Portfolio- BCG Matrix

Market
Growth Rate

Star

Cash Cow

Dog

High
Low
High

Low

Relative Market Share

Designing the
Business Portfolio- GE Matrix
Business Strength
Strong
Industry
Attractiveness

10

Average

Weak

Medium

Low

High

A: Invest and Grow B: Maintain Investment C: Harvest or Divest

Market Opportunity Identification


Existing products
Existing Market
markets Penetration
New
markets

Market
Development

New products
Product
Development
Diversification

Product-Market Expansion Grid

11

The Marketing Process

1. Analyzing Market Opportunities


2. Selecting Target Markets
3. Developing the Marketing Mix
4. Managing the Marketing Effort
12

Basic Concepts
Market Segmentation

Market Targeting

Market Positioning

13

Market Segmentation

Dividing a market into distinct


groups of buyers on the basis of
needs, characteristics, or behavior
who might require separate products
or marketing mixes

(Kotler and Armstrong, 2001)

14

Market Targeting

The process of evaluating each market


segments attractiveness and selecting
one or more segments to enter

(op. cit.)

15

Market Positioning
Arranging for a product to occupy
a clear, distinctive, and desirable
place relative to competing products
in the minds of target consumers
(op. cit.)

16

Marketing Mix
Sellers View Point 4Ps
z
z
z
z

17

Product
Price
Place
Promotion

Buyers View Point- 4Cs


z
z
z
z

Customer Solution
Customer Cost
Convenience
Communication

Developing the Marketing Mix


Product
Variety, Quality,
Design, Features,
Brand Name,
Packaging,
Services

18

Promotion
Advertising,
Personal Selling,
Sales Promotion,
Public Relations

Target
Customers
Intended
Positioning

Price
List, Discounts,
Payment Period,
Credit Terms

Place
Channels, Coverage,
Locations, Inventory,
Transportation

Managing the Marketing Effort

19

Marketing Analysis

Marketing Planning

Marketing Implementation

Marketing Control

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