Chapters 1 - 3 Market-Oriented Business Strategies.

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Presentation transcript:

Chapters Market-Oriented Business Strategies

Scope Goals and objectives Resource deployments Identification of sustainable competitive advantage Synergy Exhibit 1.3 Components of Strategy

Marketing Strategy = TM + Marketing Mix Product Quality Features Brand name Guarantees/warranties Services /spare partsPlace Numbers and types of middlemen Locations/availability Inventory levels Transportation The target market Style Options Packaging Price Discounts Allowances Credit terms Payment period Rental/lease List pricePromotion Advertising Personal selling Sales promotion Point-of-purchase materials Publicity

Executive summary –last thing you write, but most important Current situation and trends Performance review (details follow) Objectives & Key issues Marketing strategy Action plans Projected profit-and-loss statement Controls Contingency plans Exhibit 1.10 Contents of a Marketing Plan See the ‘Intro to Cases’ link on website for class specific details.

Exhibit 2.4 Common Performance Criteria and Measures (1 of 3) Possible measures or indexes $ sales Unit sales Percent change in sales Market share Brand awareness Brand preference $ sales from new products % of sales from product-market entries within past five years % cost savings from new processes Performance criteria Growth Competitive strength Innovativeness

Exhibit 2.4 Common Performance Criteria and Measures (2 of 3) Performance criteria Profitability Utilization of resources Contribution to owners Possible measures or indexes $ profits Profit as % of sales Contribution margin Return on investment (ROI) Return on net assets (RONA) Return on equity (ROE) Percent capacity utilization Fixed assets as % of sales Earnings per share Price/earnings ratio

Exhibit 2.4 Common Performance Criteria and Measures (3 of 3) Performance criteria Contribution to customers Contribution to employees Contribution to society Possible measures or indexes Price relative to competitors Product quality Customer satisfaction Customer retention Customer loyalty Customer lifetime value Wage, rates, benefits Personnel development, promotions Employment stability, turnover $ contributions to charities or community institutions Growth in employment

Exhibit 2.6 Alternative Corporate Growth Strategies Market penetration strategies Increase market share Increase product usage Increase frequency of use Increase quantity used New applications Product development strategies Product improvements Product-line extensions New products for same market Market development strategies Expand markets for existing products Geographic expansion Target new segments Diversification strategies Vertical integration Forward/backward integration Diversification into related businesses (concentric) Diversification into unrelated businesses (conglomerate) Current productsNew products Current markets New markets

Exhibit 3.2 Business-Unit Competitive Strategies Competitive strategy Differentiation Cost leadership Emphasis on new product-market growth Heavy emphasisNo emphasis ProspectorAnalyzerDefenderReactor Growth through aggressive pursuit of new product-market opportunities Strong core biz Related product market expansion Differentiated Strong core biz Related product market expansion Low-cost Maintaining a differentiated position in mature markets Maintaining a low-cost position in mature markets No clearly defined product- market development or competitive strategy See Exhibits 3.1 & 3.5 for additional detail.