mktg 1ce ppt ch02 revised

8/8/2019 Mktg 1ce Ppt Ch02 Revised

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

Understand the

importance of

strategicmarketing and

know a basic

outline for amarketing plan

The Nature of Strategic PlanningThe Nature of Strategic PlanningLO1


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

LO1

Strategic Planning

The managerial process of

creating and maintaining a fit

between the organizations

objectives and resources and

evolving market opportunities.

The goal is long-termprofitability and growth.

Strategic

Planning


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LO1

Strategic Marketing Management

What is the organizations main activity?

How will it reach its goals?

THE ANSWER IS A MARKETING PLAN.


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LO1

Strategic Planning

A written document that acts as a

guidebook of marketing activities

for the marketing manager.

Marketing Plan


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Chapter 2 Copyright by Nelson Education Ltd. All rights reserved.22 2 2

LO1

Why Write a Marketing Plan?

Provides a basis for comparison of actual and expectedperformance

Provides clearly stated activities to work toward commongoals

Serves as a reference for the success of future activities

Provides an examination of the marketing environment

Allows entry into the marketplace with awareness


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Chapter 2 Copyright by Nelson Education Ltd. All rights reserved.22 2 2

LO1

Marketing

PlanElements

Marketing Strategy

Product Distribution

Price

Marketing Mix

Business MissionStatement

Objectives

Situation or SWOTAnalysis

Target MarketStrategy

Implementation

Evaluation

Control

Promotion


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Chapter 2 Copyright by Nelson Education Ltd. All rights reserved22 2 2

REVIEW LEARNING OUTCOMELO1

The Importance of Strategic Marketing

WhatWhat

WhyWhy

HowHow

Strategic PlanningStrategic Planning

Long-term profitability and growthLong-term profitability and growth

Write a marketing planWrite a marketing plan

Online

http://www.dmusic.com
http://www.dmusic.com/http://www.dmusic.com/


8/41Chapter 2 Copyright 2010 by Nelson Education Ltd.. All rights reserved 8

Develop an

appropriatebusiness

mission

statement

Defining the Business MissionDefining the Business MissionLO2


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LO2

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


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Chapter 2 Copyright 2010 by Nelson Education Ltd. All rights reserved 10


Business Mission Statement

Q: What business are we in?

A: Business missionstatement

Too narrowToo broadJust right

marketing myopiano directionfocus on marketsserved and benefitscustomers seek



Describe the

criteria forstating good

marketingobjectives

Setting MarketingSetting Marketing

Plan ObjectivesPlan ObjectivesLO3


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Marketing ObjectiveLO3

A statement of what is to

be accomplished through

marketing activities.

Marketing

Objective


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Marketing ObjectivesLO3

Realistic

Measurable

Time specific

Consistent with and indicatingthe priorities of theorganization

Our objective is to achieve 10percent dollar market share inthe cat food market within 12

months of product introduction.



Explain thecomponents of

a situation

analysis

Conducting a Situation AnalysisConducting a Situation AnalysisLO4


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LO4

SWOT Analysis

South-Western College Publishing

SS

WW

OO

TT

Things the company does well.Things the company does well.

Things the company does not do well.Things the company does not do well.

Conditions in the external environmentthat favour strengths.

Conditions in the external environmentthat favour strengths.

Conditions in the external environmentthat do not relate to existing strengthsor favour areas of current weakness.

Conditions in the external environmentthat do not relate to existing strengthsor favour areas of current weakness.

InternalInternal

ExternalExternal


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LO4

Environmental Scanning

The collection and

interpretation of information

about forces, events, and

relationships in the external

environment that may affect the

future of the organization or theimplementation of the

marketing plan.

Environmental

Scanning


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Components of a Situation Analysis

production costs

marketing skills

financial resources

image technology

Strengths

Weaknesses

IN

TERNA

L

IN

TE

RNA

L

ENVI

RONMEN T

ENVI R

ON

MENT


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Components of a Situation Analysis

social demographic

economic

technological

political / legal

competitive

Opportunities

Threats

EX

TE

RNAL

EXTERNA

L

ENVI R

ONMEN T

ENVIRON

MENT



Identifysources

of competitive

advantage

Competitive AdvantageCompetitive Advantage

LO5


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Competitive AdvantageLO5

Competitive

Advantage

The set of unique features of a

company and its products that

are perceived by the target

market as significant and

superior to the competition.


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Competitive AdvantageLO5

Niche StrategiesNiche Strategies

CostCost

Product/ServiceDifferentiation

Product/ServiceDifferentiation

Types ofTypes ofCompetitiveCompetitiveAdvantageAdvantage

Types ofTypes ofCompetitiveCompetitiveAdvantageAdvantage



Discuss targetmarket

strategies

escribing the Target Marketscribing the Target MarketLO7


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Marketing Strategy

LO7

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.

Marketing

Strategy


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Target Market Strategy

LO7

Segment the market based on groups with

similar characteristics

Analyze the market based on

attractiveness of market segments

Select one or moretarget markets


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Target Market Strategy

LO7

Appeal to the entire market

with one marketing mix

Appeal to the entire market

with one marketing mix

Concentrate on one

marketing segment

Concentrate on one

marketing segment

Appeal to multiple markets

with multiple marketing mixes

Appeal to multiple markets

with multiple marketing mixes


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Target Market Strategies

Entire Market Multiple Markets Single Market

Target Market Options


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Describe theelements of the

marketing mix

The Marketing MixThe Marketing MixLO8


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The Marketing Mix

LO8

A unique blend of product,

distribution, promotion, and

pricing strategies designed to

produce mutually satisfying

exchanges with a target market.

Marketing Mix


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Marketing Mix: The Four Ps

LO8

Price

Promotion

Place

Product


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LO8

The starting point of the

4 Ps

Includes

Physical unit

Package

Warranty

Service

Brand Image

Value

Product

Products can be Tangible goods

Ideas

Services


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LO8

Product availability

where and when

customers want them

All activities from rawmaterials to finished

products

Ensure products arrive

in usable condition atdesignated places when

needed

Place


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LO8

Promotion

Online

http://www.paramount.com

http://www.warnerbros.com

http://www.universalstudios.com

Role is to bring about

exchanges with target

markets by:

Informing

Educating

Persuading

Reminding

Includes integration of:

Personal selling

Advertising

Sales promotion

Public relations
http://www.paramount.com/http://www.warnerbros.com/http://www.universalstudios.com/http://www.universalstudios.com/http://www.warnerbros.com/http://www.paramount.com/


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LO8

Price Price is what a buyer

must give up to obtain a

product.

The most flexible of the4 Ps-- quickest to

change

Competitive weapon

Price x Units Sold =

Total Revenue


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Elements of the Marketing Mix


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LO8

Be

yon

d

th

e

Boo

k

Anatomy of an Ad

Marketdevelopment =

sell anti-agingcream tomen (notjust women)

Ads are

types ofpromotion

CompetitiveAdvantage?

Men =

target

market

Moisturizer =product

Clive Owen

[celebrity endorsement]

= promotion strategy?


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Explain why

implementation,evaluation, and

control of the

marketing plan

are necessary

Following Up onFollowing Up on

the Marketing Planthe Marketing PlanLO

9


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

Following Up on

the Marketing Plan

LO9

Implementation

Evaluation

Control

Marketing audit is

Comprehensive

Systematic Independent

Periodic http://www.youngbiz.com

Online
http://www.youngbiz.com/http://www.youngbiz.com/


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Implementation, Evaluation, and Control

ProductPlacePromotionPrice

Objectives met?

Implementation Evaluation

Audits comprehensive systematic independent periodic


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Identify

several

techniquesthat help

make

strategic

planning

effective

Effective Strategic PlanningEffective Strategic Planning

LO10


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Techniques for Effective Strategic Planning

EffectiveStrategicPlanning

EffectiveStrategicPlanning

Continualattention Creativity Managementcommitment

mktg 1ce ppt ch02 revised

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