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Principles of Marketing -Session 2 trategic Planning and the MarketingProcess

By: Dr.R.Satish Kumar



2

Session Objectives

Explain strategic planning

Describe competitive advantage strategies

Explain relationship marketing and its tools Describe functional planning strategies

Describe the marketing process

List the marketing management functions and

elements of the marketing plan



3

Strategic Planning The process of developing and maintaining a

strategic fit between the organization’s goalsand capabilities and its changing marketingopportunities



4

Strategic Planning: Steps

,Planning,marketing

and otherfunctionalstrategies

,Planning,marketing

and otherfunctionalstrategies

Definingthe

companymission

Definingthe

companymission

Settingcompanyobjectivesand goals

Settingcompanyobjectivesand goals

Designingthe

business portfolio

Designingthe

business portfolio



5

Strategic Planning

Corporate Strategic Planning

( )Strategic Business Unit SBU

Business Unit Strategy

Functional Strategy



6

Strategic Planning:Mission Statement

• Mission Statement–Purpose

– ’Guides people s efforts– Understand values

– Ethical behaviour



7

Strategic Planning:Mission Statement Criteria Market-oriented

Realistic

Specific

Appropriate for the environment

Based on competencies Motivating



8

Designing the Business Portfolio The Big Picture

Analyzingthe

current portfolio

Plancross-

functionalstrategies

Developgrowth

strategies

:B u sin e ss Po rtfo lio T h e co lle ctio n

o f b u sin e sse s a n d p ro d u cts th a t

com p rise th e com p a n y



9

Designing the Business Portfolio:Analyzing the Current Portfolio Portfolio analysis: A tool that management

uses to identify and evaluate the variousbusinesses that make up the company

Identify key businesses

Assess attractiveness of each business BCG Approach one option

Determine appropriate support level



10

Designing the Business Portfolio: The BCG Growth-Share Matrix

Low

? ? ?? ? ?

Low

High

High

Ma

rketg

rowth

rate

Relative market

share

Star

Cashcow

Question mark

Dog



11

Designing the Business Portfolio:

Analyzing the Current Portfolio

Problems with Matrix Approaches Difficult and time consuming

Costly to implement

Difficult to define SBUs

Focus is on current business over future

Overemphasis on market share and growth

Today, strategic planning is decentralized



12

Designing the Business Portfolio:Developing Growth Strategies

4. Diversification4. Diversification2. Marketdevelopment

2. Marketdevelopment

3. Productdevelopment

3. Productdevelopment

Existing products

New products

Existingmarkets

Newmarkets

1. Market penetration



13

Designing the Business Portfolio:Developing Growth Strategies Competitive position may be a determinant of

strategy Involves competitive analysis

Market-leaders

Market-nichers

Market-challengers

Market-followers



14

Designing the Business Portfolio:Developing Growth Strategies Achieving competitive advantage

Overall cost leadership

Differentiation

Focus



15

Designing the Business Portfolio:Developing Growth Strategies Gain leadership positions by delivering superior

value to customers Operational excellence

Product leadership

Customer intimacy

Clear chosen strategy leads to success

Middle-of-the-road strategies do worst



16

Designing the Business Portfolio:Developing Growth Strategies Customer relationship marketing

Creating, maintaining, and enhancing strongrelationships with customers and otherstakeholders

Losing a customer means losing them for LIFE!

!



17

Designing the Business Portfolio:Customer Value

Total Customer Value Customer

DeliveredValueTotal Customer

Value



18

Designing the Business Portfolio:Customer Satisfaction Depends on product’s actual performance

relative to buyer’s expectations

Different degrees of satisfaction

Based on expectations

Past buying experiences Word of mouth

Marketing information



19

Designing the Business Portfolio:Developing Growth Strategies Loyalty and retention are related to customer

satisfaction

Growing “share of customer”

Build loyalty through:

Financial benefits Club marketing programs

Social benefits

Add structural ties



20

Designing the Business Portfolio:Planning Functional Strategies

• ’Marketing s Role– Guiding philosophy is

the marketing concept

– Identify opportunities– Evaluate potential

– Develop unit marketingstrategies



21

Designing the Business Portfolio:Planning Functional Strategies

• Collaboration Between Functions

– Marketing provides

customer perspective– All functions critical

to satisfaction

– Inherent conflict between functions



22

The Marketing Process

TargetConsum

ers

Product

Place Price

Promotion

M a r k e

t i n g

I m p l e m

e n t a t i o

n

M a r k e t i n g

P l a n n i n g

M a r k e t i n g

C o n t r o l

M a r k e t i n

g

A n a l y s i s

Competitors

MarketingChannels

PublicsSuppliers

Technological-natural

environment

Political-legal

environment

Social-cultural

environment

Demographic-economicenvironment



23

Target Consumers

Market PositioningMarket Positioning

Market Segmentation

Market TargetingMarket Targeting



24

Target Consumers:Market Segmentation

• Group ofconsumers

• With a similarresponse

• To a given set of marketing

stimuli



25

Target Consumers:Market Targeting

• Evaluating each’segment s

attractiveness

• Selecting one or more segments to

enter

• Single or multiple

segment strategy



26

Target Consumers:Market Positioning

• :Product occupies– ’Position in consumer s

mind

–Clear

–Distinct

– Desirable relative tocompetition

• Establishes competitive

advantage



27

The Marketing Mix

Targetconsumer

s

Targetconsumer

s

PromotionPromotion PlacePlace

ProductProduct PricePrice



28

Managing the Marketing Effort

P L A N N I N G

S t r a t e g i c

P l a n s

M a r k e t i n g P l a n s

P L A N N I N G

S t r a t e g i c

P l a n s

M a r k e t i n g P l a n s

I M P L E M E N T A T I O N

C a r r y O u t P l a n s

I M P L E M E N T A T I O N

C a r r y O u t P l a n s

A n a l y s i s A n a l y s i s

CONTROLMeasure Results

Evaluate Results

CorrectiveAction



29

Marketing Plan Contents

• E xe cu tiv e su m m a ry

• C u rre n t m a rke tin g situ a tio n

• A n a ly sis o f o p p o rtu n itie s a n dth re a ts

• O b je ctiv e s a n d issu e s

• M a rke tin g stra te g y• A ctio n p ro g ra m s

•B u d g e ts

•C o n tro ls



30

Marketing Implementation

People

Organizationstructure

Decision andReward systems

Fit with company culture



31

Marketing Department Organization

• B y m a rke tin g fu n ctio n p e rfo rm e d

• B y g e o g ra p h ic a re a s cov e re d

• B y p ro d u ct o r b ra n d re sp o n sib ility

• B y m a rke ts se rv e d

• M u ltip le a p p ro a ch e s fo r la rg e

com p a n ie s



32

Marketing Control

S e t G o a l s S e t G o a l s

M e a s u r e P e r f o r m a n c e M e a s u r e P e r f o r m a n c e

E v a l u a t e

P e r f o r m a n c e E v a l u a t e P e r f o r m a n c e

T a k e C o r r e c t i v e A c t i o n T a k e C o r r e c t i v e

A c t i o n



33

Session Review Why is strategic planning important?

How do businesses achieve competitiveadvantage?

Explain relationship marketing

What are functional planning strategies? Explain the marketing process

List the marketing management functions

mraketing planning

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