Winning Markets Through Strategic Planning, Implementation, and Control
- 1. Chapter 4 Winning Markets Through Strategic Planning, Implementation, and Control PowerPoint by Karen E. James Louisiana State University - Shreveport
- 2. Objectives Understand how strategic planning is carried out at the corporate, division, and business unit levels. Learn the major steps in the marketing process.
- 3. Objectives Learn what type of content a marketing plan includes. Understand how companies can effectively manage the marketing process.
- 4. Nature of Strategic Planning Strategic planning requires actions in three key areas Strategic planning takes place at the corporate, division, business unit and product levels Marketing plans operate at strategic and tactical levels
- 5. Corporate and Division Strategic Planning Planning activities include: Defining the Corporate Mission Establishing Strategic Business Units (SBUs), and Assigning Resources to SBUs Planning New Businesses, Downsizing Older Businesses
- 6. Corporate and Division Strategic Planning Industry scope Products and applications scope Competence scope Vertical scope Market-segment scope Geographical scope Mission statements define the company’s major competitive scopes:
- 7. Corporate and Division Strategic Planning Strategic Business Units share three characteristics: Single business or collection of businesses which can be managed separately Has own set of competitors Has manager responsible for strategic planning and profits
- 8. Corporate and Division Strategic Planning SBUs are treated as investment portfolios. Resources are allocated by: The BCG Growth-Share Matrix Stars Cash Cows Question Marks Dogs The General Electric Market-Attractiveness Model
- 9. Corporate and Division Strategic Planning Planning New Businesses and Downsizing Old Businesses Involves taking advantage of one or more of the following: Intensive growth Integrative growth Diversification growth Harvesting or divesting old businesses
- 10. Business Strategic Planning Business Mission SWOT Analysis: Internal SWOT Analysis: External Goal Formulation Strategy Formulation Program Formulation Implementation Feedback and Control Planning Involves Eight Steps:
- 11. Strategic Business Planning SWOT Analysis Opportunities and threats stemming from the external environment Internal strengths and weaknesses Monitoring key forces for trends For each trend, conduct an MOA - Marketing Opportunity Analysis
- 12. Strategic Business Planning SWOT Analysis Opportunities and threats stemming from the external environment Internal strengths and weaknesses Brand awareness, image, reputation Distribution, pricing, customer loyalty, product benefits Finance, R&D, manufacturing
- 13. Business Strategic Planning Effective goals should be formulated so that they are: Arranged hierarchically from broader to more specific objectives Stated in quantitative terms Realistic Consistent with each other and the company mission
- 14. Business Strategic Planning Strategy dictates the game plan for achieving goals. Porter’s generic strategies offer a starting point for strategic thinking: Overall cost leadership Differentiation Focus
- 15. Business Strategic Planning Program formulation and implementation involves: Developing supporting programs Estimating implementation costs Carefully managing the details so great strategy isn’t ruined by poor implementation Feedback and control is crucial
- 16. The Marketing Process Two Views of the Value Delivery Process: Traditional physical process sequence Make the product . . . Sell the product Value creation and delivery sequence Choose the value . . . Provide the value . . . Communicate the value
- 17. The Marketing Process Steps in the Marketing Process: Analyzing market opportunities Developing marketing strategies Planning marketing programs Managing the marketing effort
- 18. The Marketing Process Executive summary and TOC Current situation Opportunity and issue analysis Objectives Marketing strategy Action programs Financial projections Controls Marketing Plan Contents
- 19. Managing The Marketing Process Marketing Departments can be organized by: Function Geographic area Products or brands Customers or markets Corporate divisions Global aspects
- 20. Managing The Marketing Process Building a Companywide Marketing Orientation Requires: Commitment from top management Training programs; employee empowerment Recognitions and rewards programs Modern marketing planning system Process-outcome focus
- 21. Managing The Marketing Process Injecting more creativity into the organization can be beneficial Successfully implementing programs requires four sets of skills: Diagnostic skills Identification of company level Implementation skills Evaluation skills
- 22. Managing The Marketing Process Types of Control Annual plan Profitability Efficiency Strategic Responsibility of top and middle management Examines whether planned results are achieved
- 23. Managing The Marketing Process Five tools are used to evaluate annual plan performance: Sales analysis Market-share analysis Marketing expense-to-sales analysis Financial analysis Market-based scorecard analysis
- 24. Managing The Marketing Process Types of Control Annual plan Profitability Efficiency Strategic Responsibility of marketing controller Examines where the company is making and losing money
- 25. Managing The Marketing Process Types of Control Annual plan Profitability Efficiency Strategic Responsibility of line & staff and / or marketing controller Evaluates and attempts to improve spending efficiency of marketing expenditures
- 26. Managing The Marketing Process Types of Control Annual plan Profitability Efficiency Strategic Responsibility of top management and marketing auditor Examines whether company is pursuing its best opportunities
- 27. Managing The Marketing Process Strategic controls should be conducted periodically via: Marketing-effectiveness reviews Marketing audits Additional reviews to consider: Marketing excellence review Ethical and social responsibility review