2. corporate, business and marketing strategy

5/18/2018 2. Corporate, Business and Marketing Strategy

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CRAVENSCRAVENS

PIERCYPIERCY

8/e8/eMcGraw-Hill/Irwin 2006 The McGraw-Hill Com anies Inc. All


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Chapter Two

Corporate,Business and

MarketingStrategy

McGraw-Hill/Irwin 2006 The McGraw-Hill Companies, Inc., All


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CORPORATE,

BUSINESS ANMAR!ETIN"

STRATE"#

Corporate strategy

Business and marketing

strategy

Marketing strategy process

Internet strategy

Preparing the marketing plan


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CORPORATE,

BUSINESS AN

MAR!ETIN"

STRATE"#


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CORPORATE STRATEGY

Deciding the Scope

and Purpose of

the Business

Business

Objectives

Actions and

Resources for

Achieving

Objectives


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C$ARACTERISTICS

O% SUCCESS%U&

STRATE"# ni!ue co"petitive position

for the co"pan#$ Activities tai%ored to strateg#$

C%ear trade&offs and choices

vis&'&vis co"petitors$

Co"petitive advantage arises

fro" fit across activities$

Sustainabi%it# co"es fro"

the activit# s#ste" not theparts$

Operationa% effectiveness a

given$Source: Michael E. Porter, What Is Strategy, !ar"ard Business #e"ie$, %o"em&er'(ecem&er )**+


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ORGA()*AT)O(A+

C,A(GE

-ertica%

Disaggregation

)nterna%

Redesign

(e.

Organi/ationa%0or"s


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CORPORATE

STRATE"#

COMPONENTS 1anage"ent2s %ong&ter"

vision for the corporatio Objectives Assets3 s4i%%s3 and

capabi%ities Businesses in .hich the

corporation co"petes

Structure3 s#ste"s3 andprocesses

Creation of va%ueSource: (a"id . Collis and Cynthia /. Montgomery, Corporate Strategy, Chicago: Ir$in, )**, ')0.


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BUSINESS AN

MAR!ETIN"

STRATE"# (e"eloping the strategic plan 1or each &usiness Business and marketing strategy relationships

Strategic marketing:2 (e"eloping a "ision a&out the markets o1 interest to

the organi3ation, select market target strategies,setting o&4ecti"es, and de"eloping, implementing andmanaging the marketing program positioningstrategies designed to meet the "alue re5uirementso1 customers in each market target


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1AR5ET)(G STRATEGY

PROCESSSituation

Ana%#sis

1ar4eting

Progra"Deve%op"ent

)"p%e"enting

and 1anaging

1ar4eting

Strateg#

Designing

1ar4eting

Strateg#


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MAR!ETIN"

STRATE"#

PROCESS

Strategic situation analysis

Market "ision, structure and

analysis

Segmenting markets

Continuous learning a&out

markets


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SITUATION

ANASIS

1ar4et-ision3 Structure3

and Ana%#sis

Continuous

+earning

About

1ar4ets

Seg"enting

1ar4ets


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Designing 1ar4et&

Driven Strategies

Re%ationshipStrategies

1ar4et Targetingand Strategic

Positioning

P%anningfor (e.

Products

MAR!ET'RI(EN

STRATE"IES


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Positioning Strateg# Deve%op"en

Product

strateg#

Distributio

strateg#

Pro"otion

strateg#

Price

strateg#

1ar4et

target

Positioningstrateg#


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)"p%e"enting and1anaging 1ar4et&Driven

Strateg#

Designing Effective

1ar4et&Driven

Organi/ations

Strateg#

)"p%e"entation

and Contro%

IMP&EMENTIN" AN

MANA"IN" MAR!ET'

RI(EN STRATE"#


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MAR!E IN" P&AN

OU &INE

)$ Strategic Situation Su""ar#

Summari3e the key points 1rom your situation analysis 6market

analysis, segments, industry7competition8 in order to recount the

ma4or e"ents and pro"ide in1ormation to &etter understand the

strategies outlined in the marketing plan.

))$ 1ar4et&Targets and Objectives

9he market target may &e de1ined demographically 6keycharacteristics only8, geographically, or in social7economic

terms. Each market target should ha"e needs and $ants that di11er to

some degree 1rom other targets. 9hese di11erences may &e $ith

respect to types o1 products purchased, use situation, 1re5uency

o1 purchase, and other "ariations that indicate a need to alter the positioning strategy to 1it the needs and $ants o1 each target.

/n o&4ecti"e is a 5uanti1ied goal identi1ying $hat is epected

$hen. It speci1ies the end results epected. 9he o&4ecti"es should

&e $ritten 1or each target market. ;&4ecti"es should also &e

included 1or the 1ollo$ing program components: 6)8 product,

608 price, 6


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)))$ Positioning State"ents

Write statements that descri&e ho$ you $ant each market

target to percei"e each product relati"e to competition. State the

core concept used to position the product 6&rand8 in the eyes and mind o1 the targeted &uyer. 9he positioning statement should

descri&e: 6)8 What criteria or &ene1its the customer considers $hen

&uying a product along $ith the le"el o1 importance, 608 What $e

o11er that di11erentiates our product 1rom competition, and 6


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)-$ 1ar4et 1i6 Strateg# for Each 1ar4et Target

A$ Product Strateg#

Identi1y ho$ each product 1its the market target. ;ther issues

that may &e addressed $ould &e ne$ product suggestions,ad4ustments in the mi o1 eisting products, and product

deletion candidates.

B$ Price Strateg#

9he o"erall pricing strategy 6I.e., competiti"e, premium'priced,

etc.8 should &e identi1ied along $ith a cost7&ene1it analysis i1applica&le. Identi1y $hat role you $ant price to play, i.e.,

increase share, maintenance, etc.

C$ Distribution Strateg#

(escri&e speci1ic distri&ution strategies 1or each market

target. Issues to &e addressed are intensity o1 distri&ution

6market co"erage8, ho$ distri&ution $ill &e accomplished, and

assistance pro"ided to distri&utors. 9he role o1 the sales 1orce

in distri&ution strategy should also &e considered.

D$ Pro"otion Strateg#

Promotion strategy is used to initiate and maintain a 1lo$ o1

communication &et$een the company and the market target.9o assist in de"eloping the communications program, the

attri&utes or &ene1its o1 our product should &e identi1ied 1or

each market target. !o$ our product di11ers 1rom competition

6competiti"e ad"antage8 should &e listed. 9he sales 1orce>s

responsi&ilities in 1ul1illing the market plan must &e integrated

into the promotion strategy. Strategies should &e listed 1or

6)8 personal selling, 608 ad"ertising, 6


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E$ 1ar4eting Research

(escri&e the market research pro&lem and the kind o1

in1ormation needed. Include a statement $hich address

$hy this in1ormation is needed. 9he speci1ic market

research strategies can &e $ritten once the a&o"e t$o

steps ha"e &een 1ollo$ed.

-$ Coordination .ith Other Business 0unctions

Indicate other departments71unctions that ha"e

responsi&ilities 1or implementing the marketing plan.

-)$ Sa%es 0orecasts and Budgets

-))$ Contingenc# P%ans

Indicate ho$ your plans should &e modi1ied i1 e"ents

should occur that are di11erent 1rom those assumed

in the plan.


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INTERNATIONA&

P&ANNIN" PROCESS

Source: Philip R Cateora, International ar!etin", Ir#in, 1996$

2. corporate, business and marketing strategy

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