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Figure 2-1 Steps in Strategic Planning Copyright 2007, Prentice-Hall, Inc. 2-1 The Mission Statement • A statement of the organization’s purpose. – What it wants to accomplish in the larger environment. • Should be market oriented and defined in terms of customer needs. Copyright 2007, Prentice-Hall, Inc. 2-2 Let’s Talk! The mission statement now In 2002 Microsoft’s reads, "At Microsoft, we mission was "To work to help people and empower people businesses throughout the through great world realize their full software -- any potential.” time, any place, Evaluate and on any Microsoft’s new mission against device.” the criteria previously discussed. How does it fare? Copyright 2007, Prentice-Hall, Inc. 2-3 Marketing in Action Strategic Business Units The Symrise company creates ingredients used in flavors, fragrances, and cosmetics. The Flavors Division is structured into SBUs which are responsible for developing the product categories shown at left. http://www.symrise.com Copyright 2007, Prentice-Hall, Inc. 2-4 Figure 2-2 The BCG Growth-Share Matrix Copyright 2007, Prentice-Hall, Inc. 2-5 Figure 2-3 The Product/Market Expansion Grid Copyright 2007, Prentice-Hall, Inc. 2-6 Figure 2-4 Managing Marketing Strategy and the Marketing Mix Copyright 2007, Prentice-Hall, Inc. 2-7 Marketing in Action Target Marketing Jones Soda caters to its niche of 12- to 24-yearolds who “appreciate the brand’s wacky and irrelevant attitude”. Loyal consumers help design product flavors, colors, labels, and brand names. Visit the Web site to learn more. http://www.jonessoda.com Copyright 2007, Prentice-Hall, Inc. 2-8 Marketing in Action Positioning Promoting attributes, benefits, usage situations, or users can help to establish a product’s position in the consumer’s mind. How is the Gelstat Migraine medicine being positioned? Is this ad effective? Copyright 2007, Prentice-Hall, Inc. 2-9 Figure 2-5 The Four “Ps” of the Marketing Mix Copyright 2007, Prentice-Hall, Inc. 2-10 Let’s Talk! Select either ultimate consumers or businesses as your target market. Explain each element of Visa’s marketing mix – product, price, place, and promotion – in the context of marketing Visa towards your selected target market. Copyright 2007, Prentice-Hall, Inc. 2-11 Figure 2-6 Marketing Analysis, Implementation, Planning, and Control Copyright 2007, Prentice-Hall, Inc. 2-12 Figure 2-7 SWOT Analysis Copyright 2007, Prentice-Hall, Inc. 2-13 Let’s Talk! Under what circumstances does it make sense to structure the marketing department by combining a product management organizational system with a customer organizational system? Offer an example of a specific manufacturer for which you feel this would be appropriate. Copyright 2007, Prentice-Hall, Inc. 2-14 Figure 2-8 Return on Marketing Copyright 2007, Prentice-Hall, Inc. 2-15