MKTG 1ce PPT Ch02 Revised

LO1 The Nature of Strategic Planning
Understand the
importance of
strategic
marketing and
know a basic
outline for a
marketing plan
Chapter 2 Copyright ©2010 by Nelson Education Ltd.. All rights reserved 1

Strategic Planning
Strategic
Planning The managerial process of
creating and maintaining a fit
between the organization’s
objectives and resources and
evolving market opportunities.
The goal is long-term

profitability and growth.
LO1
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Strategic Marketing Management
What is the organization’s main activity?
How will it reach its goals?
THE ANSWER IS A MARKETING PLAN.
LO1
Strategic Planning
Marketing Plan
A written document that acts as a

guidebook of marketing activities
for the marketing manager.
LO1
Why Write a Marketing Plan?
 Provides a basis for comparison of actual and expected
performance
 Provides clearly stated activities to work toward common

goals
 Serves as a reference for the success of future activities
 Provides an examination of the marketing environment
 Allows entry into the marketplace with awareness
LO1
Business Mission
Marketing
Statement
Plan Objectives
Elements Situation or SWOT

Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product Distribution
Promotion Price
Implementation
LO 1 Evaluation
Control
LO1 REVIEW LEARNING OUTCOME
The Importance of Strategic Marketing
What Strategic Planning
Why Long-term profitability and growth
How Write a marketing plan
http://www.dmusic.com
Online
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LO2 Defining the Business Mission
Develop an
appropriate
business
mission
statement

Defining the Business Mission
 Answers the question,

“What business are we in?”
 Focuses on the market(s)

rather than the good or service
 Strategic Business Units (SBUs)

may also have a mission statement
LO2
Business Mission Statement

Q: What business are we in?
A: Business mission
statement
marketing myopia
Too narrow no direction
Too broad focus on markets
Just right served and benefits
customers seek

Setting Marketing
LO 3
Plan Objectives
Describe the
criteria for
stating good
marketing
objectives

LO3 Marketing Objective
Marketing
Objective
A statement of what is to
be accomplished through
marketing activities.

LO3 Marketing Objectives
 Realistic
 Measurable
 Time specific
 Consistent with and indicating

the priorities of the
organization
“Our objective is to achieve 10
percent dollar market share in
the cat food market within 12
months of product introduction.”

LO4 Conducting a Situation Analysis
Explain the
components of
a situation
analysis

SWOT Analysis
SWOT Analysis Identifying internal

strengths (S)
and weaknesses (W)
and also
examining external
opportunities (O)
and threats (T)
LO4
SWOT Analysis
S Things
Thingsthe
thecompany
companydoes
doeswell.
well.
Internal
W Things
Thingsthe
thecompany
companydoes
doesnot
notdo
do well.
well.
External
O Conditions
Conditionsin
that
thatfavour
inthe
theexternal
externalenvironment
favourstrengths.
strengths.
environment
T
Conditions
Conditionsin inthetheexternal
externalenvironment
environment
that
thatdodo not
not relate
relateto to existing
existingstrengths
LO4 or
or favour
favour areas of
ofcurrent
areasCollege
©South-Western
strengths
Publishingweakness.
current weakness.
Environmental Scanning
Environmental
The collection and
Scanning
interpretation of information
about forces, events, and
relationships in the external
environment that may affect the
future of the organization or the
implementation of the
marketing plan.
LO4
Components of a Situation Analysis
Strengths
ENVIRONMENT
 production costs
INTERNAL
 marketing skills
 financial resources
 image
 technology
Weaknesses
Components of a Situation Analysis
Opportunities
 social
ENVIRONMENT
EXTERNAL
 demographic
 economic
 technological
 political / legal
 competitive
Threats
LO5 Competitive Advantage
Identify
sources
of competitive
advantage

Competitive The set of unique features of a

Advantage company and its products that
are perceived by the target
market as significant and
superior to the competition.

Cost
Cost
Types
Typesof
of Product/Service
Product/Service
Competitive
Competitive Differentiation
Differentiation
Advantage
Advantage
Niche
Niche Strategies
Strategies

LO 7
escribing the Target Market
Discuss target
market
strategies

Marketing Strategy
Marketing
Strategy
The activities of selecting and

describing one or more target
markets and developing and
maintaining a market mix that
will produce mutually satisfying
exchanges with target markets.
LO7
Target Market Strategy
 Segment the market based on groups with

similar characteristics
 Analyze the market based on

attractiveness of market segments
 Select one or more

target markets
LO7
Target Market Strategy
Appeal
Appeal to
to the
the entire
entire market
market
with
with one
one marketing
marketing mix
mix
Concentrate
Concentrate on
on one
one
marketing
marketing segment
segment
Appeal
Appeal to
to multiple
multiple markets
markets
with
with multiple
multiple marketing
marketing mixes
mixes
LO7
Target Market Strategies
Target Market Options
Entire Market Multiple Markets Single Market

LO8 The Marketing Mix
Describe the
elements of the
marketing mix

The Marketing Mix
Marketing Mix
A unique blend of product,

distribution, promotion, and
pricing strategies designed to
produce mutually satisfying
exchanges with a target market.
LO8
Marketing Mix: The “Four Ps”
Price
Promotion
Place
Product
LO8
 The starting point of the

“4 Ps” Product
 Includes
 Products can be…
 Physical unit
 Tangible goods
 Package
 Ideas
 Warranty
 Services
 Service
 Brand
 Image
 Value
LO8
 Product availability
where and when Place
customers want them
 All activities from raw

materials to finished
products
 Ensure products arrive

in usable condition at
designated places when
needed
LO8
 Role is to bring about

exchanges with target Promotion
markets by:
 Informing
 Educating
 Persuading
 Reminding
 Includes integration of:

 Personal selling
http://www.paramount.com
 Advertising http://www.warnerbros.com
 Sales promotion http://www.universalstudios.com
LO8  Public relations Online
 Price is what a buyer

must give up to obtain a Price
product.
 The most flexible of the

“4 Ps”-- quickest to
change
 Competitive weapon
 Price x Units Sold =

Total Revenue
LO8
Elements of the Marketing Mix

Anatomy of an Ad
LO 8
Ads are
Beyond the
types of
promotion Men =
target
market
Clive Owen
[celebrity endorsement]
= promotion strategy?
Moisturizer =
product
Book
Competitive
Market Advantage?
development =
sell anti-aging
cream to
men (not
just women)

Following Up on
LO9 the Marketing Plan
Explain why
implementation,
evaluation, and
control of the
marketing plan
are necessary

Following Up on
the Marketing Plan
 Implementation
 Evaluation
 Control
 Marketing audit is…

 Comprehensive
 Systematic
 Independent
 Periodic http://www.youngbiz.com
LO 9
Online
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Implementation, Evaluation, and Control
Implementation Evaluation
Product
Place
Promotion Objectives met?
Price
Audits
• comprehensive
• systematic
• independent
• periodic
LO10 Effective Strategic Planning
Identify
several
techniques
that help
make
strategic
planning
effective

Techniques for Effective Strategic Planning
Continual Management
Creativity
attention commitment
Effective
Effective
Strategic
Strategic
Planning
Planning

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LO1 The Nature of Strategic Planning

Chapter 2 Copyright ©2010 by Nelson Education Ltd.. All rights reserved 1

The goal is long-term

What is the organization’s main activity?

How will it reach its goals?

THE ANSWER IS A MARKETING PLAN.

A written document that acts as a

 Provides clearly stated activities to work toward common

 Serves as a reference for the success of future activities

 Provides an examination of the marketing environment

 Allows entry into the marketplace with awareness

Elements Situation or SWOT

Why Long-term profitability and growth

How Write a marketing plan

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 Answers the question,

 Focuses on the market(s)

 Strategic Business Units (SBUs)

Business Mission Statement

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 Consistent with and indicating

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SWOT Analysis Identifying internal

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Competitive The set of unique features of a

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The activities of selecting and

 Segment the market based on groups with

 Analyze the market based on

 Select one or more

Entire Market Multiple Markets Single Market

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Chapter 2 Copyright ©2010 by Nelson Education Ltd.. All rights reserved 28

A unique blend of product,

 The starting point of the

 All activities from raw

 Ensure products arrive

 Role is to bring about

 Includes integration of:

 Price is what a buyer

 The most flexible of the

 Price x Units Sold =

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 Marketing audit is…

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Techniques for Effective Strategic Planning

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