marketingstrategy-120209012221-phpapp01.pptx
- 3. Marketing Strategy Marketing strategy is the link between corporate goals and operational tactics There are two primary considerations in marketing strategy— Where are we? Where do we want to go?
- 4. Portfolio Assessment Tool Boston Consulting Group matrix Brands or products are classified according to whether each has a strong or weak market share and slow or growing market Dog: low share, low growth Star: high share, high growth Cash cow: high share, low growth Question mark: low share, high growth
- 5. BCG Matrix
- 6. BCG Portfolio Analysis Stars: optimize or hold Dogs: minimize or divest Cash cows: milk Question marks: unknown New technologies, uncertain markets, etc. If stars and cash cows are sufficiently profitable, companies can carry dogs and question marks
- 7. Discussion Questions Using the BCG Matrix Where would you likely categorize the market leader in the typewriter market? 10 years ago, where would you have likely categorized a small player in the cell phone business? Where would you categorize the market leader in cell phones today?
- 8. Corporate Identity What is the company’s typical philosophy toward the marketplace Offensive Defensive Leader Follower
- 9. Corporate Identity Leader has several meanings… Largest market share 1st to market First to market may or may not be beneficial because adoption can be slow Quick to innovate and improve, etc. Quick followers can learn from leader’s mistakes
- 10. Corporate Identity A company may be a leader for some of its brands/products and not others A company may be offensive and defensive to vary its portfolio A company’s products’ life cycles may influence its identity
- 11. Marketing Metrics Profitability Sales Share Average prices Levels of awareness Penetration in trial Customer satisfaction Employee satisfaction, etc.
- 12. How to Increase Profitability
- 13. Dashboard Indicator of a company’s success Some measures will confirm advantages over competitors Others can serve as a diagnostic in identifying problems
- 14. Discussion Question What story does the dashboard tell?
- 15. Example: Metrics
- 16. Goals Let’s make more money Let’s delight our customers Let’s redefine our position Goals about broader concerns
- 17. Let’s Make More Money State sales objectives in terms of Currency Market share Units Change from last year or quarter Region Investments made toward current sales ROI, ROE, ROM (marketing), ROQ (quality) Growth
- 18. Let’s Delight Our Customers Enhance customer satisfaction Increase loyalty Reward influential customers Spread word of mouth Offer personalization Increase customer lifetime values
- 19. Let’s Redefine Our Position Product Build new product sales Build product category Build brand equity Awareness Positive brand associations Brand preference Trial Repeat Brand loyalty Brand love
- 20. Let’s Redefine Our Position Promotion Spend ad dollars more wisely Determine most appropriate media Determine most appropriate frequency Determine most appropriate message, etc.
- 21. Let’s Redefine Our Position Channels (Place) Determine appropriate channels Determine multichannels Determine lower cost channel interactions Determine whether to outsource functions to channel partners, etc. Price Determine high price or low price
- 22. Goals about Broader Concerns Goals that go beyond marketing Human resource, finance, production, etc. Societal concerns Charitable or community contributions Boosting stability of local employment Demonstrating leadership in environmentally friendly business practices, etc.
- 23. Goals Goals can be complex, numerous, interconnected and overwhelming Focus on most important goals first Consider the time frame and the financial support need to achieve the goals
- 24. Basic Strategies Do nothing Let the brand sink or swim on its own Do nothing differently Maintain business as usual Take action Do something different Marketers have control over STP and 4Ps