Download 2. MKT Strategy and Planning

chapter
two
developing
marketing strategies
and a marketing plan
McGraw-Hill/Irwin
Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Developing Marketing Strategies
and a Marketing Plan
LEARNING OBJECTIVES
LO1
LO2
LO3
LO4
Define a marketing strategy.
Describe the elements of a marketing plan.
Analyze a marketing situation using SWOT analyses.
Describe how a firm chooses which consumer group(s)
to pursue with its marketing efforts.
LO5 Outline the implementation of the marketing mix as a
means to increase customer value.
LO6 Summarize portfolio analysis and its use to evaluate
marketing performance.
LO7 Describe how firms grow their business.
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Sustainable Competitive Advantage
2-3
The Marketing Plan
2-4
Planning
Getty Images/Digital Vision
Comstock Images/Almay
Ryan McVay/Getty Images
Three Phases of a Strategic Plan
Implementing
Controlling
2-5
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.
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Step Two: Conduct a
Situation Analysis Using SWOT
2-7
Step Three: Identifying and Evaluating
Opportunities Using STP
Segmentation
Targeting
Positioning
Courtesy The Hertz Corporation
2-8
Step Four: Implement Marketing Mix
and Allocate Resources
Product
Value Creation
Price
Value Capture
Place
Value Delivery
Promotion
Value
Communication
Courtesy Bel Brands USA
2-9
Product and Value Creation
• Successful products
and services are those
that customers
perceive as valuable
enough to buy.
Courtesy Amazoncom
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Price and Value Capture
• Price must allow for
customers to perceive
good value for the
product they receive.
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Place and Value Delivery
• The product must be
readily accessible
• Why is this retailer
growing?
Courtesy Sephora USA, Inc
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Promotion and Value Communication
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©Lars A Niki
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Television
Radio
Magazines
Sales force
New Media
McGraw-Hill Companies, Inc/Gary He, photographer
The McGraw-Hill Companies, Inc/Jill Braaten, photographer
The McGraw-Hill Companies, Inc/John Flournoy, photographer
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Step Five: Evaluate Performance
Using Marketing Metrics
P&G Website
2-14
Growth Strategies
Market Penetration
• Existing marketing
mix
• Existing customers
• In what way is a sale a
Market penetration
strategy?
Ryan McVay/Getty Images
2-15
Growth Strategies
Market Development Strategy
What can a company do to
continue to grow in a
difficult retail
environment?
Frederic J Brown/AFP/Getty Images
2-16
Growth Strategies
Product Development
New product or service
Current target market
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MTV Networks, a division of Viacom International Inc.
2-17
Growth Strategies
Diversification
New product or service
New market segment
Photo by Joe Scarnici/WireImage/Getty Images
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