Marketing Strategy Planning

Transcription

1 For use only with Perreault/annon/Mcarthy or Perreault/Mcarthy texts McGraw-Hill ompanies, Inc. McGraw-Hill/Irwin HAPTER TWO Strategy Planning When we finish this lecture you should 1. Understand what a marketing manager does. Dumping 2. Know what marketing strategy planning is Phony and list why prices it will be the focus of the book. 3. Wheeler-Lea Understand target marketing. Amendment 4. Be familiar with the four Ps in a marketing mix. fixing 5. Robinson-Patman Know the difference Act between a marketing strategy, discrimination a marketing plan, and a marketing program. 6. Understand what customer equity is and why marketing strategy planners seek to increase it McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin When we finish this lecture you should The Management Job in 7. Be familiar with the text s framework for marketing strategy planning and why it Dumping involves a process of narrowing down from Phony broad list opportunities prices to the most attractive Wheeler-Lea marketing strategy. 8. Amendment Know four broad types of marketing opportunities fixing that help in identifying new Robinson-Patman strategies. Act 9. Understand discrimination why strategies for opportunities in international markets should be considered. ontrol Plan(s) and Program Planning Whole-ompany Strategic Management Planning Implement Plan(s) and Program 2005 McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin What is Strategy Planning? (Exhibit 2-2) Selecting a -Oriented Strategy Is Target (Exhibit 2-3) The marketing mix ion-oriented manager sees everyone as basically similar and practices mass marketing -oriented manager sees everyone as different and practices target marketing Handout 2-1

2 An Application of Target Developing Mixes for Target s (Exhibit 2-4) Place The Element of the Mix The Place Element of the Mix (Exhibit 2-6) Examples of hannels of Distribution harles Schwab Toyota Sara Lee Nestle Wholesaler Wholesaler Wholesaler Retailer Retailer Retailer onsumer The Element of the Mix The Element of the Mix Personal Selling Sales Telling and Selling the ustomer Advertising Publicity of Other s In the Line ompetition and Substitutes Sensitivity ost and Demand Pricing Objectives Setting Legal Environment Flexibility hanges Over the Life ycle Discounts and Allowances Geographic Pricing Terms Handout 2-2

3 Interactive Exercise: Mix All Four Ps ontribute to the Whole Place Place Selection of Target Understanding the Target Leads to Good Strategies! 2008 McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin hecking your knowledge hecking your knowledge General Motors is considering increasing the length of its bumper-tobumper warranty on new vehicles from 3 years to 5 years. The marketing mix variable being considered here is: A. product. B. personnel.. place. D. promotion. E. price. A television network is trying to generate interest in a new television show in advance of its premiere. The network sends out press releases and makes the star of the new show available for guest appearances on TV and radio talk shows. The marketing mix variable involved here is: A. product. B. personnel.. place. D. promotion. E. price. The Plan Guides Implementation and ontrol hecking your knowledge Target + Mix = Strategy + Time- Related Details = Plan + Other Plans = A Firm s Program An entrepreneurial teenager decides to start a new dog-walking business aimed at dog owners who have to leave their pets at home alone during regular working hours. The teenage develops a thorough description of the people in her target market and their needs. She then comes up with a general outline of the services she will offer, some price ranges, the geographic area she will serve, and some lowcost promotion ideas. What has she developed so far? A. A marketing program B. A marketing plan. A SWOT analysis D. A marketing strategy E. Differentiation and segmentation Handout 2-3

4 hecking your knowledge ustomer Equity (Exhibit 2-9) A large consumer products company markets several different lines of products, with many individual products in each line. Each product has its own marketing plan. The company president wants to bring together all of the different marketing plans into a single integrated document that can become part of the company s strategic plan. It appears that the company president needs a: Business enters market time A. marketing super-plan. B. marketing program.. marketing strategy. D. operational plan. E. mass-marketing approach. urrent ustomers firm New ustomers As ustomer Equity Grows, so do Earnings! The Importance of Strategy Planning reative Strategy Planning Needed for Survival Strategy Decisions Usually Determine Success and Failure Death-wish marketing Best-practices marketing Timex had captured a large market share Low price, dependability, good ads, unconventional channels Stiff competition arose New product refinements (Well below (Below 68% (Average Program) (Above (Well above 2% 14% 14% 2% Failure Poor Fair Good Exceptional What Are Attractive Opportunities? The Importance of Good Research Breakthrough Opportunities Avoid Hit-or-Miss ompetitive Advantage 2008 McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin Handout 2-4

5 Strategy Planning Process Highlights Opportunities (Exhibit 2-11) Interactive Exercise: Strategy Present markets Present products penetration New products New markets Diversification 2008 McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin hecking your knowledge Penetration A large metropolitan university has an established summer-school program that offers a wide variety of classes to its current students. To expand enrollment, the school started promoting its summer school to students who live in the area and are home for the summer, even though they attend other universities during the regular school year. This effort is an example of: offee so good You just can t wait. A. market penetration. B. market.. product. D. diversification. E. a breakthrough opportunity. hecking your knowledge Development An electronics superstore sends a special coupon to its current customers offering them a special discount for purchases made during an upcoming week that occurs during a traditionally slow sales period. This is an example of: A. market penetration. B. market.. product. D. diversification. E. a breakthrough opportunity Handout 2-5

6 Development International Opportunities Should Be onsidered Smaller World Early Start ompetitive Advantage Better Trends? 2008 McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin Global ompetitive Advantage You now 1. Understand what a marketing manager does. Dumping 2. Know what marketing strategy planning is Phony and list why prices it will be the focus of the book. 3. Wheeler-Lea Understand target marketing. Amendment 4. Are familiar with the four Ps in a marketing mix. fixing 5. Robinson-Patman Know the difference Act between a marketing strategy, discrimination a marketing plan, and a marketing program. 6. Understand what customer equity is and why marketing strategy planners seek to increase it McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin You now Key Terms 7. Be familiar with the text s framework for marketing strategy planning and why it Dumping involves a process of narrowing down from Phony broad list opportunities prices to the most attractive Wheeler-Lea marketing strategy. 8. Amendment Know four broad types of marketing opportunities fixing that help in identifying new Robinson-Patman strategies. Act 9. Understand discrimination why strategies for opportunities in international markets should be considered McGraw-Hill ompanies, Inc., McGraw-Hill/Irwin management process Strategic (management) planning strategy Target market mix Target marketing Mass marketing hannel of distribution Personal selling ustomer service Mass selling Advertising Publicity Sales promotion plan Implementation Operational decisions program ustomer equity Breakthrough opportunities Handout 2-6

7 Key Terms ompetitive advantage Differentiation S.W.O.T. analysis penetration Diversification Handout 2-7