Marketing and corporate strategies

Slides:



Advertisements
Similar presentations
Strategic Planning and the Marketing Process
Advertisements

Copyright © 2006 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Part 1: Designing Customer- Oriented Marketing Strategies.
Strategic Planning and the Marketing Process
Principles of Marketing
Strategic Planning and the Marketing Process
Principles of Marketing
Strategic Planning and the Marketing Process
Developing and Enacting Strategic Marketing Plans
Chapter 1 Copyright ©2012 by Cengage Learning Inc. All rights reserved 1 1 Lamb, Hair, McDaniel CHAPTER 2 Strategic Planning for Competitive Advantage.
Chapter Two Marketing Strategy: Where Marketing Really Begins
Dr. Hurrem Yilmaz Slide 2-2 LINKING MARKETING AND CORPORATE STRATEGIES C HAPTER.
Strategic Planning and the Marketing Process
What is the purpose of Marketing?
Strategic Marketing Planning
MARKETING MANAGEMENT: STRATEGY 1 CHAPTER TWO. Marketing Management The process of: 1. planning, 2. executing, and 3. controlling marketing activities.
Strategic Planning ORGANIZATIONAL CAPABILITIES AND GOALS
Strategic Planning and the Marketing Process
Marketing Plan.
Company and Marketing Strategy Course: Mkt 202 Lecturer: NNA
Marketing & Strategy Chapter 2.
Company and Marketing Strategy: Partnering to Build Customer Relationships Chapter 2.
1 2. Strategic Planning & The Marketing Process. 2 What Is Planning Establish objectives Determine how to accomplish them regardless of what happens in.
DEVELOPING SUCCESSFUL MARKETING AND CORPORATE STRATEGIES C HAPTER.
Slide 2-1.
Marketing & Company strategy
Chapter 2 STRATEGIC PLANNING AND THE MARKETING PROCESS
Company and Marketing Strategy: Partnering to Build Customer Relationships Chapter 2.
MR1100 Linking Marketing to Corporate Strategies
Company and Marketing Strategy: Partnering to Build Customer Relationships 2 Principles of Marketing.
Chapter Two Company and Marketing Strategy: Partnering to Build Customer Relationships.
Marketing: An Introduction Armstrong, Kotler
Discussion: How Can Disney Recover?
Company and marketing strategy: partning to build customer relationshp
Strategic Planning: Making Choices in a Dynamic Environment
Principles of Marketing
Company and Marketing Strategy Partnering to Build Customer Relationships Chapter 2.
1 Chapter 14 Exam Review. Two types: 1. Business firms – serves customers in order to earn a profit (rev > cost) 2. Not-for-profit – serves customers.
1 PowerPoint Presentations for Effective Marketing Adapted for the First Canadian Edition by Jennifer Monk Algonquin College Copyright © 2008 by Nelson.
Chapter 1 Copyright ©2012 by Cengage Learning Inc. All rights reserved 1 1 Lamb, Hair, McDaniel CHAPTER 2 Strategic Planning for Competitive Advantage.
Objectives Understand how strategic planning is carried out at the corporate, division, and business unit levels. Learn the major steps in the marketing.
Marketing Strategy and the Marketing Plan
Strategic Planning and the Strategic Marketing Process.
Marketing & Strategy Chapter 2. Strategic Planning What is it? What is it? “The managerial process of creating and maintaining a fit between organizational.
Corporate Strategies. Organizations (Types) Business Firm Business Firm Privately owned organization that serves its customers in order to earn a profit.
Company and Marketing Strategy: Partnering to Build Customer Relationships CHAPTER 8.
CHAPTER TWO MARKETING MANAGEMENT: STRATEGY 1. Marketing Management The process of: 1. planning, 2. executing, and 3. controlling marketing activities.
Concepts and Strategies. Strategic Planning The managerial process of creating and maintaining a fit between the organization’s objectives and resources.
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.
Chapter 2 Copyright ©2012 by Cengage Learning Inc. All rights reserved 1 CHAPTER 2 Strategic Planning for Competitive Advantage © AP IMAGES/JENNIFER GRAYLOCK.
Linking Marketing to Corporate Strategies
Copyright 2000 Prentice Hall2-1 Chapter 2 Strategic Planning: Making Choices in a Dynamic Environment.
Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Strategic Planning and the Marketing Process Chapter 2.
Zahra Danieli University of Tehran October 2015 Developing Successful Marketing and Organizational Strategies In the name of God.
Copyright  2008 McGraw-Hill Australia Pty Ltd PPTs t/a Marketing: The Core by Kerin et al Slides prepared by Andrew Hughes, Australian National University.
Chapter 2 Strategic Planning and the Strategic Marketing Process.
Marketing’s Strategic Role in the Organization. The process of determining an organization’s primary objectives, allocating funds, and then initiating.
CHAPTER 2 LINKING MARKETING AND CORPORATE STRATEGIES.
Company and Marketing Strategy: Partnering to Build Customer Relationships 2 Principles of Marketing.
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.
Principles of Marketing Lecture-9. Summary of Lecture-8.
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
Lecture-8 MGT301 Principles of Marketing. Summary of Lecture-7.
Chapter 2 Marketing Strategy: Partnering to Build Customer Relationships.
MGT301 Principles of Marketing Lecture-9. Summary of Lecture-8.
Principles of Marketing Lecture-8. Summary of Lecture-7.
Company and Marketing Strategy Chapter Strategic Planning Strategic planning is defined as:  “The process of developing and maintaining a strategic.
Strategic Planning and the Marketing Process
Principles of Marketing - UNBSJ
Company and Marketing Strategy: Partnering to Build Customer Relationships Chapter 2.
Chapter Two Company and Marketing Strategy
Presentation transcript:

Marketing and corporate strategies

Kinds of organizations Profit organizations. A privately owned organization that serves its customers in order to earn a profit Nonprofit organizations. A nongovernmental organization that serves its customers but does not have a profit as an organizational goal.

Levels in organizations Corporate level. Where top management directs overall strategy for the entire organization. Business Unit Level. Level at which business unit managers set direction for their products and markets. Functional level. Is where groups of specialists create value for the organization. (i.e. departments)

Three levels of strategy in an organization Corporate strategy Vision Corporate goals Philosophy and culture Business unit strategy Mission Business goals Competencies Functional strategy Information systems Research & development Manufacturing Finance Marketing Human resources

Combination of Customer Relationships The Organization’s Success Quality Efficiency Customer Innovation Relationships

Strategy at the corporate level

Corporate vision is . . . . a clear word picture of the organization’s future, often with an inspirational theme. It sets the overall direction for the organization, describing what it strives to be--stretching the organization, but not beyond reason.

a targeted level of performance set in advance of work. A goal is . . . . a targeted level of performance set in advance of work. Therefore, corporate goals provide strategic performance targets that the entire organization must reach to pursue its vision.

Corporate goals may be articulated in terms of: - profits - quality - sales revenue - employee welfare - market share - social responsibility - unit sales

Corporate Philosophy and Culture Corporate philosophy establishes the values and “rules of conduct” for running the organization. Corporate culture refers to a system of shared attitudes and behaviors held by the employees that distinguish it from other organizations.

Strategy at the Business Unit Level

Business Unit Mission and Goal The business unit mission is a statement that specifies the markets and product lines in which a business will compete. It communicates the scope of a business unit. A business unit goal is a performance target the business unit seeks to reach in an effort to achieve its mission. Goals that are more specific, measurable and quantifiable are called objectives.

? Boston Consulting Group Growth-Share Matrix Market growth rate 20% High 10% Low 0% ? Question mark Star A Market growth rate D B Cash cow Dog C 10x High 1x Low 0.1x Relative market share (share relative to largest competitor)

Objectives for each SBU Build. Increase market share through cash injection. Make Starts out of Question marks. Hold. Maintain market share. Often used for Cash Cows which are already generating large amounts of cash Harvest. Increase short-term cash output of the SBU. Pump cash from Dogs or Cash Cows into Stars or Question Marks. Divest. Sell the SBU. Question Marks and Dogs are ideal candidates

Specifying the SBU’s Competencies: Some Important Definitions competitive advantage is . . . quality is . . . benchmarking is . . . .

Strategy at the Functional Level Marketing and other functional departments create their own functional goals –really extensions of corporate and business unit goals.

The Strategic Marketing Process Where are we now? Where do we want to go? How do we allocate our resources to get where we want to go? How do we convert our plans into action? How do our results compare with our plans, and do deviations require new plans and actions?

Marketing Plan The strategic marketing process is usually formalized in a Marketing Plan, which is a road map for the marketing activities of an organization for a specified future period of time.

The strategic marketing process Market-product focus and goal setting Planning phase Situation (SWOT) analysis Market-product focus and goal setting Marketing program Corrective Action Marketing plan Implementation Phase Results Control Phase

Market-product focus and goal setting Planning phase Situation (SWOT) analysis Market-product focus and goal setting Marketing program Strengths Weaknesses Opportunities Threats Market Penetration / New Markets Product Development Diversification

Market-product focus and goal setting Planning phase Situation (SWOT) analysis Market-product focus and goal setting Marketing program Market Segmentation. Aggregating prospective buyers into groups, or segments that have: common needs and will respond similarly to a marketing action. Selecting the target markets. Finding points of difference for the product. (Competitive advantage)

Market-product focus and goal setting Planning phase Situation (SWOT) analysis Market-product focus and goal setting Marketing program Developing the marketing mix (4 Ps) Developing the budget

Elements of the marketing mix that compose a cohesive marketing program manager Product Features Brand name Packaging Service Warranty Price List price Discounts Allowances Credit items Payment period Promotion Advertising Personal selling Sales promotion Publicity Place Outlets Channels Coverage Transportation Stock level Cohesive marketing mix Promotion Place Price Product

Implementation Phase The implementation phase involves executing the marketing plan and putting it into effect: Obtaining resources (money and personnel) Designing the marketing organization Developing schedules Executing the marketing program (strategy and tactics)

Organization of a Typical Manufacturing Firm, Showing a Breakdown of the Marketing Department President Vice President Research and Development Department Vice President Manufacturing Department Vice President Marketing Department Vice President Account and Finance Department Vice President Human Resources Department Manager Marketing Research Manager Product Planning Manager Sales Manager Advertising & Sales Promotion Sales Regions and Representatives

Strategy versus Tactics Strategy means by which a goal is to be achieved, characterized by a specific target market and a marketing program to reach it Tactics are detailed day-to-day operational decisions essential to the overall success of marketing strategies

Comparing results with plans to identify deviations Control Phase Comparing results with plans to identify deviations Finding the planning gap Acting on deviations Performance less than expected –Corrective action Performance greater than expected –Uncover the reason