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Strategic Planning

Strategic

Strategic planning

planning isis defined

defined

as:

as:

The

The process

process of

of developing

developing and

and

maintaining aa strategic

maintaining

strategic fit

fit

between the

between

the organization’s

organization’s goals

goals

and capabilities

and

capabilities and

and itsits changing

changing

marketing opportunities.”

marketing

opportunities.”

Strategic Planning

Planning

Planning activities

activities occur

occur at

at the

the

business unit,

business

unit, product,

product, and

and

market levels,

market

levels, and

and include:

include:

Defining

Defining the

the purpose

purpose and

and mission

mission

Setting

Setting objectives

objectives and

and goals

goals

Designing

Designing the

the business

business portfolio

portfolio

Developing

Developing detailed

detailed marketing

marketing

and departmental

and

departmental plans

plans

Strategic Planning

Mission

Mission statements

statements should

should

.. ..

..

serve

serve asas aa guide

guide for

for what

what the

the

organization

organization wants

wants toto accomplish.

accomplish.

bebe “market-oriented”

market-oriented rather

rather than

than

“product-oriented”.

“product-oriented”.

bebe neither

neither too

too narrow,

too broad.

broad.

narrow, nor

nor too

fit

fit with

with the

the market

market environment.

environment.

bebe motivating.

motivating.

Strategic Planning

Mission

Mission statements

statements guide

guide

the development

the

development of

of

objectives and

objectives

and goals.

goals.

Objectives

Objectives are

are developed

developed at

at

each level

each

level inin the

the organization

organization

hierarchy.

hierarchy.

Strategies

Strategies are

are developed

developed toto

accomplish these

accomplish

these objectives.

objectives.

Strategic Planning

Business

Business portfolio:

portfolio:

“the collection

“the

collection of

of businesses

businesses

and products

and

products that

that make

make upup

the

the company.”

company.”

Designing

Designing the

the business

business portfolio

portfolio

isis aa key

key element

element of

of the

the strategic

strategic

planning

planning process.

process.

Strategic Planning • Identify Identify strategic strategic Portfolio Portfolio business business units units (SBUs) (SBUs) Design
Strategic Planning
• Identify
Identify strategic
strategic
Portfolio
Portfolio
business
business units
units (SBUs)
(SBUs)
Design
Design
• Assess
Assess each
each SBU:
SBU:
• Step
Step 1:
1:
 The
The BCG
BCG growth-
growth-
Analyze
Analyze the
the
share
share matrix
matrix
classifies
classifies SBUs
SBUs into
into
current
current business
business
one
one of
of four
four
portfolio
portfolio
categories
categories using
using the:
the:
 Market
Market growth
growth rate
rate
• Step
Step 2:
2:
 SBU’s
SBU’s relative
relative
Shape
Shape the
the future
future
market
market share
share within
within
business
business portfolio
portfolio
the
the market.
market.
Strategic Planning BCG BCG Growth-Share Growth-Share Matrix Matrix High High Question Question Market Market Stars Stars
Strategic Planning
BCG
BCG Growth-Share
Growth-Share Matrix
Matrix
High
High
Question
Question
Market
Market
Stars
Stars -- Hold
Hold
Marks
Marks -- Build
Build
Growth
Growth
Low
Low
Cash
Cash
Dogs
Dogs –– Divest
Divest
Market
Market
Cows
Cows --
Growth
Growth
Harvest
Harvest
High
High Relative
Relative
Low
Low Relative
Relative
Market
Market Share
Share
Market
Market Share
Share
Strategic Planning • Determine Determine the the Portfolio Portfolio future future role role of of each
Strategic Planning
• Determine
Determine the
the
Portfolio
Portfolio
future
future role
role of
of each
each
Design
Design
SBU
SBU and
and choose
choose the
the
• Step
Step 1:
1:
appropriate
appropriate
resource
resource allocation
Analyze
allocation
Analyze the
the
strategy:
strategy:
current
current business
business
 Build Build
portfolio
portfolio
 Hold Hold
• Step
Step 2:
2:
 Harvest Harvest
Shape
Shape the
the future
future
 Divest Divest
business
business portfolio
portfolio
• SBUs
SBUs change
change
positions
positions over
over time
time
2- 8

Strategic Planning

Matrix

Matrix approaches

approaches toto formal

formal

planning share

planning

share many

many problems:

problems:

Difficult,

Difficult, time-consuming,

time-consuming, and

and

costly toto implement.

costly

implement.

Focus

Focus only

only onon current

current businesses.

businesses.

TToooo strongly

strongly emphasize

emphasize market

market

share growth

share

growth or

or growth

growth via

via

diversification.

diversification.

2- 10

Strategic Planning

Designing

Designing the

the business

business portfolio

portfolio

also involves:

also

involves:

Developing

Developing strategies

strategies for

for growth

growth

byby identifying,

identifying, evaluating,

evaluating, and

and

selecting promising

selecting

promising new

new market

market

opportunities.

opportunities.

Product/market

Product/market expansion

expansion grid

grid

Developing

Developing strategies

strategies for

for

downsizing the

downsizing

the business

business portfolio.

portfolio.

Strategic Planning Product/Market Product/Market Expansion Expansion Grid Grid Existing Existing Products Products New New Products Products
Strategic Planning
Product/Market
Product/Market Expansion
Expansion
Grid
Grid
Existing
Existing Products
Products New
New Products
Products
Existing
Existing
Market
Market
Product
Product
Markets
Markets
Penetration
Penetration
Development
Development
New
New
Market
Market
Diversificatio
Diversificatio
Markets
Markets
Development
Development
nn

Product/Market

Product/Market

Expansion Grid

Expansion

Grid

Market Market development development

New market

New

market segments

segments for

for current

current products

products

Product Product development development

Offering

Offering modified

modified or

or new

new products

products

Market Market Penetration Penetration

Increasing

Increasing sales

sales without

without any

any change

change

Diversification Diversification

Starting

Starting or

or acquiring

acquiring new

new products

products

Downsizing Downsizing

Reducing

Reducing the

the business

business portfolio

portfolio

Marketing strategy and the marketing mix

Marketing

Marketing Strategy:

Strategy:

The

The marketing

marketing logic

logic byby which

which the

the business

business

unit hopes

unit

hopes toto create

create customer

customer value

value and

and

achieve profitable

achieve

profitable customer

customer relationship.

relationship.

Marketing

Marketing Mix

Mix

Product

Product

Price

Price

Promotion

Promotion

place

place

Customer driven marketing strategy

Market Market Segmentation Segmentation

Market

Market TTargeting/

argeting/ TTarget

arget market

market

Positioning Positioning

Market Market Differentiation Differentiation

Marketing Analysis

Research Research

Data Data gathering gathering

SWOT SWOT Analysis Analysis

Strengths

Strengths

Weaknesses

Weaknesses

Opportunities

Opportunities

Threats

Threats

2- 17

Marketing Planning and Implementation

What

What the

the company

company wants

wants toto dodo and

and

how.

how.

Deciding

Deciding onon strategies

strategies onon how

how toto

achieve itsits objectives

achieve

objectives

Turning

Turning plans

plans into

into actions

actions

Marketing Control

Evaluating

Evaluating the

the performance

performance of

of the

the

marketing plan.

marketing

plan.

TTaking

aking action

action accordingly

accordingly