Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 7 views

    Topic 2 Company Marketing Strategy

    Uploaded by

    Janize Lee
    This document discusses company marketing strategy and planning. It begins by defining marketing and the marketing mix of product, price, place, and promotion. It then discusses strategic planning, including defining the company mission and goals. The document outlines analyzing a company's current business portfolio using tools like the BCG Matrix and developing growth strategies using Ansoff's Matrix. Finally, it discusses planning functional marketing strategies including analysis, planning, implementation, and control.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd

    Topic 2 Company Marketing Strategy

    Uploaded by

    Janize Lee
    7 views28 pages
    This document discusses company marketing strategy and planning. It begins by defining marketing and the marketing mix of product, price, place, and promotion. It then discusses strategic planning, including defining the company mission and goals. The document outlines analyzing a company's current business portfolio using tools like the BCG Matrix and developing growth strategies using Ansoff's Matrix. Finally, it discusses planning functional marketing strategies including analysis, planning, implementation, and control.

    Original Description:

    Original Title

    Topic 2 Company Marketing Strategy.ppt

    Copyright

    © © All Rights Reserved

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses company marketing strategy and planning. It begins by defining marketing and the marketing mix of product, price, place, and promotion. It then discusses strategic planning, including defining the company mission and goals. The document outlines analyzing a company's current business portfolio using tools like the BCG Matrix and developing growth strategies using Ansoff's Matrix. Finally, it discusses planning functional marketing strategies including analysis, planning, implementation, and control.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    7 views28 pages

    Topic 2 Company Marketing Strategy

    Uploaded by

    Janize Lee
    This document discusses company marketing strategy and planning. It begins by defining marketing and the marketing mix of product, price, place, and promotion. It then discusses strategic planning, including defining the company mission and goals. The document outlines analyzing a company's current business portfolio using tools like the BCG Matrix and developing growth strategies using Ansoff's Matrix. Finally, it discusses planning functional marketing strategies including analysis, planning, implementation, and control.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 28

    2

    Topic 2 Company Marketing


    Strategy
    Marketing Management

     The art and science of choosing target markets and


    building profitable relationships with them.

    Questions to ask:
    1. What customers will we serve?
    What is our target market?
    2. How can we best serve these customers?
    What is our value proposition?
    The Marketing Mix

    Product Price

    Customer
    Needs

    Promotion Distribution
    Company View: Marketing Mix
     Product - anything that is offered to consumers for
    use
    - decisions about quality, features, design,
    packaging, product

     Price - methods of setting justifiable and profitable


    prices.
    - discount methods, adjustment to prices,
    payment terms
     Promotion - communication link between buyer and
    sellers.
    - advertising, personal selling, sales
    promotion,
    publicity

     Place - distribution strategies, modes of


    transportation, ware housing, inventory control,
    marketing channels, distribution network
    Customer’s View: Marketing Mix
     Cost
     Convenience
     Communication
     Value
    Strategic Planning
     Strategic Planning is the
    Process of Developing and Maintaining a Strategic Fit Between
    the Organization’s Goals and Capabilities and Its Changing
    Marketing Opportunities.

    Strategy
     The process of determining long term direction of the
    company.
    Steps in Strategic Planning
    Figure 2.1
    Strategy

    Vision

    Mission

    Objectives and Goals


    Define The Company’s Mission
     Mission Statement – current and future directions (job scope)
    raison d'être

    Management need to ask basic questions:


    1. Who is our customer
    2. What is our business value?

    Mission statement
    - must clearly state the organization’s purpose and what it wants to
    accomplish in the larger environment
    - Must be market oriented based on distinctive competencies
    motivating and realistic.
    Raison D'être
     Must not be too broad or narrow
     A scope of product
     Market segmentation
     Geographical scope
     competency
    Set Company Goals and Objectives
     Objectives must be SMART

    S – Specific
    M – Measurable
    A – Achievable
    R – Realistic
    T – Timely
    Conglomerate
     Involve in many types of business

    Parent Co.

    Consumer
    Entertainment F and B Electronic
    Goals
    Designing the Business Portfolio
     The business portfolio is the collection of businesses and
    products that make up the company.

     The company must:


     analyze its current business portfolio or Strategic Business Units
    (SBUs),
     decide which SBUs should receive more, less, or no investment,
     develop growth strategies for growth or downsizing.
    Portfolio Analysis

     An evaluation of the products and business making up the


    company.

     Resources are directed to more profitable businesses and


    weaker ones are phased down or dropped.
    Strategic Business Unit (SBU)

     A unit of the company that has a separate mission and


    objectives and that can be planned independently from
    other company businesses.

     Can be a company division, a product line within a


    division, or sometimes a single product or brand.
    Analyze Current Portfolio (BCG Strategy)

    Relative Market Share


    High Low
    Stars Question Marks
    ?
    • High growth & share • Low share SBUs in high growth
    High
    Market Growth Rate

    • May need heavy markets


    • Require cash to hold
    investment to grow market share
    • Eventually, growth will slow • Build into Stars or phase out

    Cash Cows Dogs


    • Low growth & share
    Low

    • Low growth, high share • Generate cash to sustain self


    • Established, successful • Do not promise to be cash
    SBU’s sources
    • Produce cash
    The BCG Growth-Share Matrix
    Comparison of Business Portfolios
    Develop Growth Strategies (Ansoff Matrix)

    PRODUCT
    Existing New

    Market Product
    Existing
    MARKET

    Penetration Development

    Market
    New Diversification
    Development
    Example

    Starbucks Coffee
    Growth at Starbucks
    Product/Market Expansion Grid
    Based on Starbucks
     Market Penetration: make more sales to current customers
    without changing products.
     How? Add new stores in current market areas; improve
    advertising, prices, menu, service.
     Market Development: identify and develop new markets for
    current products.
     How? Review new demographic (seniors/ethnic consumers) or
    geographic (Asian, European, Australian, & South American)
    markets.
    Product/Market Expansion Grid
    Based on Starbucks
     Product Development: offering modified or new products
    to current markets.
     How? Add food offerings, sell coffee in supermarkets, co-brand
    products.
     Diversification: start up or buy businesses outside current
    products and markets.
     How? Making and selling CDs, testing restaurant concepts, or
    branding casual clothing.

    Prepared by Beh Y.S., BA(Hons), M.Sc, 2009, updated (1) 2012


    Plan Functional Strategies
     Strategic plan lays the foundation for more detailed
    planning.

    Marketing Analysis

    Marketing Planning

    Marketing Implementation

    Marketing Control
    Marketing Analysis
     Complete analysis of the company’s situation
     SWOT analysis to identify problems and opportunities
    Marketing Planning
     Marketing strategies, the marketing plan comprises of:

    1. Executive summary
    2. Current marketing situation
    3. Threats and opportunity analysis
    4. Objectives and issues
    5. Marketing strategy
    6. Action programs
    7. Budgets
    8. Controls
    Marketing Implementation
     Turns marketing strategies into marketing actions

    Marketing Control
     Evaluating the results of marketing strategies and plans
    and taking corrective actions

    You might also like