Sustainable Competitive Advantage 3-1 Retaining Loyal Customers Customer Service Efficiency & Effective Supply Chain Unique Selling Proposition Location.

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Presentation transcript:

Sustainable Competitive Advantage 3-1 Retaining Loyal Customers Customer Service Efficiency & Effective Supply Chain Unique Selling Proposition Location provides Awareness and Convenience Advantage over the competition that is not easily copied and thus can be maintained over a long period of time.

The Marketing Plan Phases of a Strategic Plan

Three Phases of a Strategic Plan PlanningImplementingControlling Ryan McVay/Getty Images Comstock Images/AlmayGetty Images/Digital Vision 3-3 Define mission/objectives Evaluate situation Identify opportunities Implementing mkt mix Evaluating performance Taking corrective actions

Step One: Defining the Mission and/or Vision MADD mission statement: MADD strives to stop drunk driving, support the victims of this violent crime and prevent underage drinking. MADD mission statement: MADD strives to stop drunk driving, support the victims of this violent crime and prevent underage drinking. 3-4 Broad description of an organization’s objectives and the scope of activities it plans to undertake.

Step Two: Conduct a Situation Analysis Using SWOT (internal and external environmental Analysis) 3-5 Dominos Pizza SWOT

Step Three: Identifying and Evaluating Opportunities Using STP Segmentation TargetingPositioning Courtesy The Hertz Corporation 3-6

Product Value Creation Price Value Capture Place Value Delivery Promotion Value Communication Step Four: Implement Marketing Mix and Allocate Resources

Step Five: Evaluate Performance Using Marketing Metrics -- Growth Strategies 3-8

Market Penetration Existing marketing mix Existing customers In what way is a sale a Market penetration strategy? Ryan McVay/Getty Images 3-9

Market Development What can a company do to continue to grow in a difficult retail environment? Frederic J Brown/AFP/Getty Images 3-10 Current product and services New markets

Product Development New product or serviceCurrent target market Used with permission by MTV 2010 MTV Networks All Rights Reserved MTV, all related titles, characters and logos are trademarks owned by MTV Networks, a division of Viacom International Inc Current Markets

Diversification New product or serviceNew market segment Photo by Joe Scarnici/WireImage/Getty Images 3-12

Step 5: Evaluate Performance Using Marketing Metrics Boston Consulting Group Portfolio Matrix 3-13

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