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Part 3 Presented by Mr. Ahmed El Seddawy AASTMT “Market-oriented strategic planning is the managerial process of developing and maintaining a practical fit between the organisation’s objectives, skills and resources and its changing market opportunities”. “The aim of strategic planning is to shape and reshape the company’s businesses and products so that they yield target profits and growth”. Kotler, P. (1997) Marketing management, (9th ed), Upper Saddle River, NJ: Prentice Hall International, p.63 Competition - competitive forces, analysing competitors Monitoring environmental change - managing strategic environmental issues Opportunities - market and sales opportunity analysis Competitive advantage - distinctive capabilities, cost and differentiation strategies, product differentiation strategies Resource reviews Strategic fit - fitting both market opportunities and internal capabilities There are five types of company: 1. those who make things happen 2. those who think they make things happen 3. those who watch things happen 4. those who wonder what happened, and 5. those that did not know that anything had happened Planning is essential It gives a sense of purpose and direction Stops constant fire-fighting Stops panicking Put managers in control marketing strategy is a cycle of integrated actions leading to a sustainable competitive advantage strategic marketing seeks to secure and maintain competitive advantage in order to meet the goals of the organisation it involves consideration of the interaction of three key variables: external environment, organisation goals and strategies E-Marketing Planning and Strategies 1 objectives vision corporate objectives 2 situation review marketing audit SWOT analysis 3 strategies and plans formulate strategies forecasts Strategic Focus what business are we in? what business should we be in? what business should we not be in? identify opportunities target markets product, price, promotion and distribution strategies budgets 4 action Implementation programme control Performance review and evaluation action: products, prices, promotion, distribution An e-marketing strategy needs to be fully integrated into an organisation’s business and marketing strategies and plans Rather than have a separate e-marketing strategy it is important to have an integrated marketing plan with an e-marketing plan as a sub-set of that marketing plan E-marketing strategy as a detailed sub-set of overall marketing planning But also part of the investment for a new web site And part of the investment in upgrading and extending a website Environment-strategy-performance model E Legal-ethical Technology Competition Other factors markets internet SWOT E-marketing plan S P E-business strategy E-marketing strategy E-marketing mix CRM Performance metrics Source: Strauss, El-Ansary & Frost (2006:23) Environmental Influences 1. 2. 3. broad environmental variables: economy, technology, society Industry variables: industry structure, lifecycle, specific technology, structure of competition, strategies and performance market variables: lifecycle, segment structure, demand influences, purchase size and frequency Goals (Objectives) sustainable competitive advantage as a means to sales, market share, profit and other objectives to satisfy stakeholders The Ashridge Mission Model PURPOSE why the company exists STRATEGY competitive position and distinctive competence VALUES what the company believes in STANDARDS AND BEHAVIOURS policies and behaviour patterns underpinning the distinctive competence and value system Factors influencing company marketing strategies Demographic/ economic environment Technical/ physical environment Marketing and sales information system Marketing and sales intermediaries suppliers product Target customer s place price Marketing planning system promotion publics competitors Political/ legal environment Marketing & sales organisation system publics Marketing organisation and implementation system Social/ cultural environment Factors influencing competitive success Environmental factors e.g. rate of technological change nature of competition intensity of competition Organisational factors e.g. size structure culture innovation capability Strategic factors e.g. long-term objectives strategic time horizon product-market strategy Marketing factors e.g. use of market research customer service product quality Managerial factors e.g. communication attitudes leadership style Business Performance Source: after Baker & Hart (1989) Strategies bedrock strategy - to build and sustain capabilities of reputation, know-how, relationships, physical resources then determine strategies to transform these into positional advantage vis a vis competitors must derive strategies for market positioning in the chosen target segments have strategies to deliver continuing customer satisfaction Value creation for customers Organisation capabilities Used to create value for customers Careful assessment of these capabilities what capabilities to build analysis of opportunities choice of opportunities to address Internet website and ecommerce Provide customers with desired benefits Creating value for customers surest way of gaining and keeping competitive advantage is to create better value for customers customer come back for more and a longterm customer relationship develops The internet and development of ecommerce offers great opportunities for creating value for customers value-defining processes [influenced by e-marketing] ◦ market sensing to understand what customers value (what benefits buying) ◦ assess what the organisation creates from a customer perspective ◦ value-developing processes [influenced by e-marketing] ◦ what creates customer value in the value chain? ◦ how can customer value be enhanced through product and service development? ◦ what facilitates and inhibits better product or service delivery Value-delivering processes [influenced by e-marketing] ◦ can the product or service be better delivered? ◦ can it be made available at better times in better locations? Value-maintaining processes [influenced by e-marketing ◦ customer linking, channel bonding, managing brand equity But customer expectations change what customers consider excellent value today will probably be average value tomorrow customers are increasingly demanding this is exacerbated by competitors who see advantage in meeting these higher demands other companies develop product and service enhancements which set new expectation standards change is endemic and built-in to most markets therefore, there is a need to continuously monitor and adapt Potential benefits of an Internet site: Improvement in corporate identity and image Improved customer service Increased visibility among targeted segments Market expansion Online transactions Lower communication costs Source: Sterne (1999) Website generations: 1. First generation: static electronic brochures, supplier broadcasting to many potential and existing customers 2. Second generation: interactive website, with product stock availability, FAQs and pricing information; still supplier driven 3. Third generation: fully interactive website, personalisation and market research information collection Deliberate and emergent strategies Deliberate strategy Unrealised strategy Emergent strategy Realised strategy Source: Baker, M.J. (2000) Marketing strategy and management, (3rd Ed), Basingstoke: Macmillan Unpredictable factors Course plotted Desired objective Predictable factors Source: Baker, M.J. (2000) Marketing strategy and management, (3rd ed), Basingstoke: Macmillan Strategic planning calls for action on: managing the company’s businesses as an investment portfolio (each business has a different profit potential so should allocate resources accordingly) assessing each business by considering the market’s growth rate, the company’s position and fit in that market strategy - each business needs to develop a game plan for achieving its long-run objectives Basic Conditions Supply raw material technology product durability value/weight Demand price elasticity substitutes rate of growth cyclical, seasonal The structure-conductperformance paradigm Market structure number of buyers and sellers product differentiation barriers to entry cost structures vertical integration diversification Conduct pricing behaviour product strategy and advertising research and innovation plant investment legal tactics Performance production and allocative efficiency progress, full employment equity Public Policy taxes and subsidies regulation price controls antitrust information Threat of new entrants Bargaining power of suppliers The industry jockeying for position among current competitors Threat of substitute products or services Porter’s five forces Bargaining power of customers Planning Implementing Controlling corporate planning organising Measuring results division planning business planning product planning E-marketing planning implementing action diagnosing results taking corrective action External environment (opportunities and threats) Business mission SWOT Analysis Goal formulation Strategy formulation Internal environment (strength and weaknesses analysis) Business strategic planning process Programme formulation implementation Feedback and control 1. 2. 3. 4. Objectives: what business do we want to be in? (where do we want to be?) Situation Review: where are we now? Strategies, Tactics and Plans: how do we get there?, how do we exactly get there? Action and Control: doing it and asking did we get there? Business definition Preliminary objectives Environmental situation Opportunities and threats Competitive situation Resources and capabilities Strengths and weaknesses Strategic thinking •identify key issues •develop strategy options Analysis •resolve issues •evaluate options Decisions Analysis of past performance Specification of present strategy •strategy •performance objectives Corporate business planning Internet marketing plan (sub-set of marketing plan) Design website Implement website Control, review, modify Monitor website Source: adapted from Chaffey et al (2000: 124) Baker, M.J. (2000) Marketing strategy and management, (3rd ed), Basingstoke: Macmillan Chaffey, D. (2002) E-business and e-commerce management, Harlow: Financial Times Prentice Hall, Chapter 5: E-Business Strategy and Chapter 8: EMarketing Chaffey, D., Mayer, R., Johnston, K. & Ellis-Chadwick, F. (2003). Internet marketing. (second edition). London: Pearson Education. Chapter 4: Internet Marketing Strategy (third edition 2006) Chaston, I. (2001) E-marketing strategy, London: McGraw-Hill Kotler, P. (1997) Marketing management, (9th edition), Upper Saddle River, NJ: Prentice Hall International Sterne, J. (1999) World wide web marketing (2nd ed), New York: John Wiley Strauss, J. and R. Frost (2001) E-marketing, Upper Saddle River, NJ: Prentice Hall, Chapter 8: The E-Marketing Plan Strauss, J., El-Ansary, A. and R. Frost (2006) E-marketing, (4th ed), Upper Saddle River, NJ: Prentice Hall, Chapter 3: The E-Marketing Plan