Download Chapter 2 - Bauer College of Business

Chapter
2
Developing
Marketing
Strategies and
Plans
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The value delivery process
CHOOSING THE VALUE
PROVIDING THE VALUE
COMMUNICATING THE VALUE
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The Value chain
• A tool for identifying ways to create more
customer value
– Every firm is a synthesis of activities
performed to design, produce, market, deliver,
and support its product
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THE VALUE CHAIN
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Core competencies
• A source of competitive advantage
• Applications in a wide variety of markets
• Difficult for competitors to imitate
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Central role of strategic planning
• Managing the businesses as an
investment portfolio
• Assessing the market’s growth rate and
the company’s position in that market
• Establishing a strategy
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Marketing plan
• The central instrument for directing and
coordinating the marketing effort
– Strategic
– Tactical
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Marketing Plan Contents
 Executive summary
 Table of contents
 Situation analysis
 Marketing strategy
 Marketing tactics
 Financial projections
 Implementation controls
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Figure 2.1
Strategic Planning, Implementation,
and Control Processes
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Corporate and division strategic
planning
• Defining the corporate mission
• Establishing strategic business units
• Assigning resources to each strategic
business unit
• Assessing growth opportunities
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Defining the
corporate mission
•
•
•
•
•
What is our business?
Who is the customer?
What is of value to the customer?
What will our business be?
What should our business be?
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Establishing Strategic Business
Units
• A single business or collection of related
businesses
• Has its own set of competitors
• Has a leader responsible for strategic
planning and profitability
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Assessing growth opportunities
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INTENSIVE GROWTH STRATEGIES
ANSOFF’S PRODUCT-MARKET EXPANSION GRID
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Figure 2.4
The Business Unit
Strategic-planning Process
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SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
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Strategic formulation:
Porter’s Generic Strategies
OVERALL COST LEADERSHIP
DIFFERENTIATION
FOCUS
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