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This is a PowerPoint deck on how to conduct effective Strategic Marketing and Sales Planning. It is based on the Systems Thinking Approach, one of the most comprehensive and holistic approaches in the market to strategic planning in all areas. The purpose of this presentation are:
1. To gain a common set of principles and knowledge about the similarities and differences between marketing and sales functions, and how they are integrated with corporate strategy.
2. To learn a structure to design, build, implement, and sustain a Strategic Marketing and Sales Plan.
3. To learn the tactics, tips, and techniques to successfully implement this plan and keep it up to date year after year.
4. To discover the benefits of, and identify your positioning in, the marketplace in order to focus your sales and marketing efforts.
5. To review the traditional and 21st Century aspects of the 4 Ps, including e-commerce.
6. To understand different approaches to marketing and sales success.
7. To identify and examine all aspects of the major issues facing professionals in sales and marketing.
8. To acquire a complete toolkit of powerful and practical sales and marketing strategies.
9. To achieve marketing and sales success.
Consists of 160 PPT slides
Organizational Structure Running A Successful Business
Strategic Marketing and Sales Planning
1. Copyright 2014 Haines Centre for Strategic Management
STRATEGIC MARKETING AND SALES PLANNING
2. Copyright 2014 Haines Centre for Strategic Management
PURPOSES OF THIS PRESENTATION
Purposes:
1. To gain a common set of principles and knowledge about the similarities and
differences between marketing and sales functions, and how they are
integrated with corporate strategy.
2. To provide a structure to design, build, implement, and sustain a Strategic
Marketing and Sales Plan.
3. To provide the tactics, tips, and techniques to successfully implement this
plan and keep it up to date year after year.
4. To discover the benefits of, and identify your positioning in, the marketplace
in order to focus your sales and marketing efforts.
5. To review the traditional and 21st Century aspects of the 4 Ps, including e-
commerce.
6. To understand different approaches to marketing and sales success.
7. To identify and examine all aspects of the major issues facing those of us in
sales and marketing.
8. To implement a complete toolkit of powerful and practical sales and marketing
strategies.
9. To achieve marketing and sales success.
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3. Copyright 2014 Haines Centre for Strategic Management
SALES AND MARKETING
RELATIONSHIP
Remember:
Marketing, sales and customer service (conception, delivery, and support)
are part of an integrated process for delivering customer value by creating
the best experience possible for the customer.
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4. Copyright 2014 Haines Centre for Strategic Management
UNARTICULATED NEEDS
Figure out what the customer needs but doesn't know they need
Example: Nobody (except Steve Jobs) knew they had a need for the iPad/tablet
Break a paradigm.
Anticipate the future.
Consider new applications for existing products and services.
Don't let the word "impossible" stifle creative thinking.
Make it simpler, faster, easier, and more complete.
What might be the next fad in every category you can think of?
Look at technology trends and anticipate social trends
Would a customer ask for a compact disc in the 1970s or ask for better
records?
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5. Copyright 2014 Haines Centre for Strategic Management
STRATEGIC MARKETING AND SALES PLAN
Each organization in this world (public and private), needs a "Strategic Marketing and
Sales Plan". It should be derived from the organization's overall Strategic Plan and used
as a primary source document , leading the effort to establish yearly/annual marketing
and sales strategies, action plans, and budgets.
A Strategic Marketing and Sales Plan is the most important
thing you can do to generate revenue, crystallize your thinking
about who you are, and build your brand.
Critical Issue
Before you implement any Marketing and Sales plan...
Be sure the organization can deliver what you sell.
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6. Copyright 2014 Haines Centre for Strategic Management
THE MARKETPLACE
The Market
Description of products and services
Size, trends, seasonality, region, distribution, pricing, geography, etc.
Broad environmental effects, changes in consumer behavior, technology
changes, the economy, government, etc.
The Competition
Sales and share trends
Strengths and weaknesses across marketing mix
Corporate philosophy/strategy
Stage in product life-cycle
Spending support
Potential entrants from your industry or others
Substitutes
1 OF 2
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7. Copyright 2014 Haines Centre for Strategic Management
WHAT IS MARKETING?
Marketing's fundamental function is not to influence the customer
to do what suits the interest of the firm, but rather to find an
effective and efficient means of making your business do what suits
the interests of customers.
Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, and services to
create exchanges that satisfy individual and organizational
objectives.
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8. Copyright 2014 Haines Centre for Strategic Management
FOUR MOST IMPORTANT QUESTIONS
IN
MARKETING!
The Next Three Questions:
The Current State
4. What business are we in now?
5. Who are our customers and competitors now?
6. What are customers buying now?
B
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9. Copyright 2014 Haines Centre for Strategic Management
PART II:
OVERVIEW
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10. Copyright 2014 Haines Centre for Strategic Management
STRATEGIC MARKETING AND SALES
PLANNING PROCESS:
Plan to Plan: First: 1 day - then begin the planning process
Environmental Scanning - Duration 1 day
Conduct Environmental Scan - agree on the future of the
marketplace/industry. Environmental Scanning is ongoing at every step,
and is done more formally each quarter throughout the year.
Create Your Own Marketplace Future Position - Duration: 2 days
Conduct Review of Corporate Strategic Plan.
Refine or develop your future vision of the marketplace, mission, values
and unique marketplace positioning and differentiation in draft form.
Develop Key Stakeholder Parallel Process/feedback.
Feedback Loop/Goals - Duration: 1 day
Develop measurable Key Success Measures (KSMs - long term strategic
goals): market share goals, product goals, positioning goals,
breadth/depth goals, business development goals,
marketplace/product/customer profitability goals.
E
Phase
B
Phase
A
Phase
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11. Copyright 2014 Haines Centre for Strategic Management
STANDARD STRATEGIC MARKETING
AND SALES PLANNING DOCUMENT
9. Key Success Measures (long-term Strategic Marketing and Sales
goals)— share goals, product goals, positioning goals,
breadth/depth goals, business development goals, and
marketplace/product/customer profitability goals.
B
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12. Copyright 2014 Haines Centre for Strategic Management
KEY ELEMENTS OF MARKETING PLANS
1. A company must be good at strategic and tactical marketing, as well as administrative
marketing and cyber marketing in today's marketplace, to be a winner.
2. The ability to prepare and execute high value marketing and sales plans with clear, well
defined strategies and actions plans is crucial. Targeted marketing plans are typically
developed within an overall strategic marketing plan for every:
brand
product category
new product
market segment
geographical market
valued customer
3. This varies depending on the size of the company, the breadth of the market, products,
and service. There should be both annual and longer term action plans for each
strategy. All of these plans should be synchronized, not written independently of each
other.
4. Marketing plans should be as simple and to the point as possible. They should include
the costs to carry out the plan and revenues generated by the plan, along with the
strategies and action plans.
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13. Copyright 2014 Haines Centre for Strategic Management
MARKETING PLAN TEST QUESTIONS:
1. Does the plan list some exciting new opportunities? Has it also
considered major threats?
2. Is the plan clear in defining target market segments?
3. Will the customers in each target market segment see our product
or service as superior?
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14. Copyright 2014 Haines Centre for Strategic Management
FIVE BASIC STEPS TO EFFECTIVE
MARKETING
Marketing Opportunity
An area of identified, articulated or unarticulated
buyer need or interest in which there is a high
probability that a company can perform profitably
by satisfying that need.
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15. Copyright 2014 Haines Centre for Strategic Management
GUIDELINES FOR STRATEGIC
MARKETING AND SALES PLANNING
10. Have Strategic Marketing and Sales Plans endorsed by the entire
Senior Management Team.
11. At the end, once the plan is finished, conduct a large group plan
review (one half-day meeting) with all management, supervisory
(from all departments), and sales and marketing personnel
involved in the Strategic Marketing and Sales Plan.
12. Set up a follow-up review, evaluation and assessment by the
marketing and sales planning team on a regular basis.
13. Continue strategic assistance and coaching for the Senior
Executive Team by the person with overall management
responsibility for the marketing and sales plan, and by a master
external facilitator/coach. This is essential because most
management team members are not marketing experts. Do not
get too far out in front of them.
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16. Copyright 2014 Haines Centre for Strategic Management
GETTING STARTED:
EDUCATE, ORGANIZE AND TAILOR"
Task #
1. Executive Briefing on business planning
2. Guidelines for planning set
3. Personal readiness/past experiences and effectiveness in strategic
marketing and sales planning
4. Barriers and issues resolved
5. 'Strategic Issues List' developed
6. Environmental Scanning conducted for marketing and sales
7. Marketing and Sales “Staff Support Team” needed
8. Marketing and Sales planning team membership selected
9. Identification of Key Stakeholders
10. Key Stakeholder involvement/communications
11. Marketing and Sales planning link (to budgets and corporate plan)
(YOUR PROCESS OF STRATEGIC MARKETING
AND SALES PLANNING)
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17. Copyright 2014 Haines Centre for Strategic Management
Two key Questions:
1. Who is on your Strategic Marketing and Sales Planning Team?
2. How to participate, and encourage the involvement of others who want
to provide input into these decisions, whose support, innovation, and
buy-in are important?
ORGANIZING AND PLAN-TO-PLAN
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STRATEGIC MARKETING AND SALES
PLANNING “STAFF SUPPORT TEAM”
Position/Functions Typical Tasks/
Expertise
Name
(List Staff Support Team
Names)
Question: Which of these staff support functions are
needed for successful Planning and Implementation?
1. Marketing
(various functions)
2. Sales
3. Services
4. Manufacturing/Oper-
ations/Engineering
• Strategic Marketing and Sales Plan
• Market Research
• Current State Assessment
• Budgeting
• Sales/Customer Input
• Front Line Current State
• Customer's Agent
• Implementation
• Service Issues
• Customer Input
• Follow-through
• Product Issues
• Delivery Support
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19. Copyright 2014 Haines Centre for Strategic Management
22 COMMON MISTAKES IN A STRATEGIC
MARKETING AND SALES MANAGEMENT SYSTEM
Which of these mistakes are you making? Score this H–M–L (H = yes, all/most
of the time; M = yes, at times we do; L = no, we don't make this mistake)
______ 12. Failing to define and implement the organization structure needed for success in an
accurate and meaningful way.
______ 13. Not setting concrete, clear annual plans.
______ 14. Neglecting to benchmark yourself against the competition and other best-in-class
organizations.
______ 15. Seeing the Strategic Marketing and Sales planning document as an end in itself.
______ 16. Having confusing terminology and language.
______ 17. Trying to facilitate the process yourself.
______ 18. Failing to have data-based discussions and decision making.
______ 19. Failing to monitor the environment as an ongoing process.
______ 20. Not getting resource commitments for implementation.
______ 21. Not "walking the talk"; lack of internal/external alignment.
______ 22. Seeing Marketing and Sales as departments instead of an organization-wide
endeavor.
Total # of H _______; M _______ ; L _______.
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20. Copyright 2014 Haines Centre for Strategic Management
GOAL #1: STRATEGIC MARKETING
AND SALES PLANNING
Develop a Strategic Marketing and Sales Plan
(Steps #2-7)
Plans are Nothing.
Planning is Everything.
— Dwight D. Eisenhower
A decision without an allocation of resources is not a
decision... A Marketing and Sales Plan without the
organizational buy-in, resources, and support to
implement it is not an effective plan.
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21. Copyright 2014 Haines Centre for Strategic Management
CLARIFYING THE
MARKETING DEPARTMENT'S MISSION
1. What business should we be in?
2. Why do we exist? What is our basic purpose? For stakeholders? For
society?
3. Who are our principal customers, clients, or users?
4. What do our customers want from us?
5. What is unique or distinctive about our organization in the marketplace?
6. Does this distinctiveness give us a competitive business advantage/edge?
Why or why not?
7. What are our principal products and services, present and future?
8. What are our principal market segments, present and desired in the future?
9. What are our principal outlets or distribution channels, present and desired
in the future?
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22. Copyright 2014 Haines Centre for Strategic Management
POSITIONING FOCUS
Dominate a narrow focus:
Service businesses fear that standing for one thing will limit their firm’s
appeal. It doesn’t work that way, because of the Halo Effect.
We tend to think that attractive people are smarter, friendlier, more
honest, and more reliable than less attractive people. We associate one
positive thing— attractiveness—with many other good things.
Similarly , prospects who see you in a positive light in one area will
think of you positively in many other areas.
Your position is how you are perceived by prospects.
Your positioning statement expresses how you wish to be perceived.
Establish a position to leverage into other markets, services,
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23. Copyright 2014 Haines Centre for Strategic Management
PRICE DIFFERENTIATION
A study reported in The Harvard Business Review in 1980 is still
relevant today. Companies that stressed differentiation were
compared with companies that competed on cost. In every measure
that mattered—in return on equity, return on capital, and average
annual revenue growth rate—the differentiators beat the price
warriors every time.
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24. Copyright 2014 Haines Centre for Strategic Management
DIFFERENTIATION
2. Cause some confusion
In some industries, pricing can be quite complicated. Consider telephone
rates. When MCI introduced its “Friends and Families” rate plan, its market
share started to climb at the expense of AT&T. Things got even more
confusing when Sprint got into the act. AT&T fought back with ads that
suggested that the discounts were not as big when the small print was
read. Suddenly, no one could understand which company’s prices were
lower. When the dust settled, it was AT&T that came out on top. People
figure “Why bother? Let’s stay with AT&T”. When the market is confused,
the leader wins.
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25. Copyright 2014 Haines Centre for Strategic Management
SPEED AND RESPONSIVENESS
Why? Because speed kills the competition.
What's new is a realization that time is an awful lot of money - far more than
most executives understand.
If you come up against one of the fast corporations and you are not prepared,
you are history.
Guidelines for Speeding Up
Start from scratch
Wipe out unnecessary approvals
Worship the schedule
Utilize trained teams
Use process analysis
Put speed in the culture
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26. Copyright 2014 Haines Centre for Strategic Management
BUILDING A BRAND
By building a brand you can spend less time and money to get more
business.
Word of mouth for a branded service spreads easier and farther
because the name is remembered as the story is passed along.
People perceive less risk with a brand name.
Brands offer a shortcut to busy people who have no time to compare
products before making a decision.
Brand identity is created by promises made and delivered. The
customer's actual experience ultimately creates the identity.
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27. Copyright 2014 Haines Centre for Strategic Management
TIPS - POSITIONING MESSAGES
• People are essentially interested in themselves, so the message
should focus on what you will do for the prospect.
• People cannot pay attention to two messages at once. Say just one
thing, and then say it over and over again.
• Focus on meeting your market’s very first need: Give it one good
reason.
• To get your point across, use the power of stories. Stories can help
you to overcome the stereotypes about your particular service.
• Get rid of the hype and the puffy adjectives in your letters;
document the value you add, and communicate it.
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28. Copyright 2014 Haines Centre for Strategic Management
ANALYZING YOUR IDEAL FUTURE
SUMMARY
Instructions: Answer the following questions and discuss as an entire
Strategic Marketing and Sales Planning Team.
1. What will the industry and the market look like 5 to 7 years from now?
2. What will a successful company in our business look like?
3. Who are likely to be the key industry and market players?
4. Who will be the typical consumer or client in 5 to 7 years
5. What will be the forces driving the market in 5 to 7 years?
6. Are any of these projections possible within your current
Positioning/Driving Force(s) and specific competencies, or do they seem
beyond your reach?
7. What is the level of risk you are willing to take?
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29. Copyright 2014 Haines Centre for Strategic Management
MEASURES OF SERVICE
The American consumer measures service in a retail store by the following ten
standards:
1. The employees show that they want to be at work.
2. A salesperson is available to offer genuine suggestions.
3. The store is clean.
4. Store signage makes the store easy to shop.
5. The salesperson is knowledgeable.
6. The store’s return policy makes customers feel that the retailer truly
wants to satisfy them.
7. The store guarantee has no exceptions.
8. The store has wide aisles.
9. The salesperson is a well-dressed professional.
10. The store has a 30-day complete satisfaction guarantee.
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30. Copyright 2014 Haines Centre for Strategic Management
STRATEGIC MARKET RESEARCH
“FROM DATA/FEELINGS TO TRENDS/INTELLIGENCE
TO BETTER DECISION MAKING”
(AND WORLD-CLASS STAR ( ) RESULTS)
Creating
Customer
Value
C = Choice
R = Responsiveness S = Service
T = Total
Cost
Q = Quality
Strategic
Market
Research
Product Design/Development
Marketing
Sales
Manufacturing
Shipping/Distribution
Service
Customer-Focused Culture
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31. Copyright 2014 Haines Centre for Strategic Management
SURVEYING AND RESEARCH
Oral Surveys
Allow you to clarify your questions and ask people to explain their
answers.
Create better understanding of how people really feel from the tone of
their voices.
Must be designed to account for tone, attitude, and feel of an interview.
Can easily irritate the participant solicited.
Must be performed by well-trained experts and carefully monitored by
company personnel every step of the way.
Must be executed by people with accents and mannerisms comfortable
to the target audience.
Must be simple, concise, and short.
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32. Copyright 2014 Haines Centre for Strategic Management
THINK DUMB, THINK DIFFERENTLY
Don’t just think better. Think different.
Desired Product – Rather than creating what the market needs or wants,
create what it would love to have.
e.g., Don't sell light beer to overweight people, sell it to people who want to drink
more beer as Miller did originally.
Pork - the other white meat.
Purdue created a quality image for chicken and commanded a premium price.This document is a partial preview. Full document download can be found on Flevy:
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33. Copyright 2014 Haines Centre for Strategic Management
MARKET FACTS
Business Development/Emerging Markets
1. Who are our present customers? _________________________________
________________________________________________________________
2. Who are our potential customers? ________________________________
________________________________________________________________
3. Who are our best prospects? ____________________________________
________________________________________________________________
4. What trends are influencing those prospects? ______________________
________________________________________________________________
5. What opinions do those prospects hold? ___________________________
________________________________________________________________
6. What likes and preferences do those prospects have? _______________
________________________________________________________________
7. What gripes and dislikes do those prospects have? _________________
________________________________________________________________
8. Why will they buy our product, if they do? __________________________
________________________________________________________________
9. Where will they buy our product, if they do? ________________________
________________________________________________________________
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MARKET FACTS
Our Image
30. What do our customers say about us? ___________________________________
_______________________________________________________________________
31. What do former customers say about us? ________________________________
_______________________________________________________________________
32. What do prospects say about us? _______________________________________
_______________________________________________________________________
The Marketplace
33. What is the total spent by our target market segment(s) on management consulting
services in an average year? ______________________________________________
_______________________________________________________________________
34. How much of that total volume do we have? ______________________________
_______________________________________________________________________
35. What are the market share trends in each of our target market segments? _____
_______________________________________________________________________
36. What is our potential share? ___________________________________________
_______________________________________________________________________
37. With which market segments do opportunities exist?_______________________
_______________________________________________________________________
38. What causes growth in our type of business? _____________________________
_______________________________________________________________________
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35. Copyright 2014 Haines Centre for Strategic Management
SEGMENTATION
Mass Customization
1. The trend today is to customize to fit each individual's desires - for
example, you can customize a pager with features that exactly fit your
needs.
2. Try to give each customer exactly what he or she wants and needs.
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36. Copyright 2014 Haines Centre for Strategic Management
ASSESSING WHICH COMPANY DEPARTMENTS
ARE CUSTOMER – MINDED
R & D
They spend time meeting customers and listening to their problems.
They welcome the involvement of marketing, manufacturing, and other departments in each
new project.
They benchmark competitor's products and seek ‘best of class’ solutions.
They solicit customer reactions and suggestions as the project progresses.
They continuously improve and refine the product on the basis of market feedback.
Purchasing
They proactively search for the best suppliers rather than choose from those who solicit
their business.
They build long-term relationships with fewer but more reliable high-quality suppliers.
They don’t compromise quality for price savings.
Manufacturing
They invite customers to visit and tour their plants.
They visit customer plants to see how customers use the company’s products.
They willingly work overtime when it is important to meet promised delivery schedules.
They continuously search for ways to produce goods faster and/or at a lower cost.
They continuously improve product quality, aiming for zero defects.
They meet customer requirements for ‘customization’ where this can be done profitably.
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37. Copyright 2014 Haines Centre for Strategic Management
ASSESSING WHICH COMPANY DEPARTMENTS
ARE CUSTOMER – MINDED
Public Relations
They disseminate favorable news about the company and they ‘damage control’
unfavorable news.
They act as internal customer and public advocate for better company policies
and practices.
Other Customer Contact Personnel
They are competent, courteous, cheerful, credible, reliable, and responsive. Rate
your company: Add the total number of statements answered ‘YES’ and divide
by 32. This is your percentage score.
100 - 95% = excellent
94 - 85% = good
84 - 75% = air
below 75% = poor
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38. Copyright 2014 Haines Centre for Strategic Management
HOW TO IDENTIFY PROBLEMS
3. Look for any obstacle standing in the way of achieving a marketing goal...
such as:
Materials shortages
Product quality
Production limitations
Competitor dominance
Pricing factors
Foreign competition
Inability to reach decision makers
Low market awareness
Customer dissatisfaction
Lack of clear-cut product benefits or advantages (customer fulfillment)
Capacity
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39. Copyright 2014 Haines Centre for Strategic Management
GROWTH SHARE MATRIX
1. STARS
Objective: Hold dominant share and/or build share
Gain a large proportion of new users
Price reductions, product improvements, increased efficiency, better
market coverge
Self sufficient cash flow
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40. Copyright 2014 Haines Centre for Strategic Management
GROWTH SHARE MATRIX
4. DOGS
Objective: Near cash cow - use CC approach to boost
Those with no hope:
Abandonment
Divestment
Harvesting
Focusing
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41. Copyright 2014 Haines Centre for Strategic Management
PRODUCT/MARKET CERTAINTY
MATRIX “Z MODEL”
Markets
(Customer
Segments)
Products (or Product Lines)
90
%
Very High
Certainty
New, but
Related
Existing
Existing
New and
Unrelated
New, but
Related
New and
Unrelated
Very Low
Certainty
60
%
20
%
40
%
60
%
30
%
20
%
10
%
30
%
1. New Products/same customers = 60% success rate.
2. New products/new customers = serious problems with any success.
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42. Copyright 2014 Haines Centre for Strategic Management
CREATING MARKET OPPORTUNITY
1. Providing something in short supply - This is the easiest method.
Customers do not need to be convinced to buy it and they will pay
high prices.
2. Supply an existing product or service - A company can do this in a
new or superior way once the company understands how the
product or service can be improved.
3. Supply a new product or service - This is the most challenging area
because customers usually cannot express a need for a product
that has not been invented yet (unarticulated needs).
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43. Copyright 2014 Haines Centre for Strategic Management
HOW TO DEFINE YOUR AUDIENCE/CUSTOMER
Completing the following form will help you identify the primary and secondary
audiences for your products or service:
Audience characteristic
Primary
Secondary
Industry
Size of organization ($)
Geographic area
Purchaser title
Client (end user) title
Buying influences
Usage rate
Loyalty status
Current supplier
Readiness
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44. Copyright 2014 Haines Centre for Strategic Management
PRODUCT STRATEGY
Branding
national brand vs. private label vs. dual label
preferred vendor strategies
packaging
Ease of Use
industry part numbers versus co-op numbers versus supplier's
numbers
cross reference
catalog needs
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45. Copyright 2014 Haines Centre for Strategic Management
PRODUCT DEVELOPMENT COMMITTEE (PDC)
_____ 8. Is there a clear set of product development steps, accountability, authority,
milestones, and reporting procedures? Are these clearly understood and
utilized? Comments:
_____ 9. Are product development timetables realistic and adhered to? Comments:
_____ 10. Is there a cross-functional team effort and shared goals across the
organization for product development? Comments:
_____ 11. Are people open and honest about issues and results during product
development? Comments:
_____ 12. Is there department/senior management accountability and rewards for
product development efforts and support? Comments:
_____ 13. Summarize your Mission and needed changes in your PDC:
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46. Copyright 2014 Haines Centre for Strategic Management
DISCUSSION ON NEW PRODUCT/
SERVICE/OPPORTUNITIES
II. Criteria for Decision-Making
Sample List: Which ones fit your new product
criteria: (________________________________):
Yes/No
____ 1. Mission fit
____ 2. Core Values fit
____ 3. ROI
____ 4. Counter cyclical
____ 5. Synergy with vendors/partners
____ 6. Vertical/horizontal integration
____ 7. Size/impact is material
____ 8. Fit with today's Core Competencies
____ 9. Can achieve a competitive business advantage
____ 10. Cope with or eliminate our threats and weaknesses
____ 11. Increase short-term revenues (and profits)
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47. Copyright 2014 Haines Centre for Strategic Management
POSSIBLE PRICING OBJECTIVES
Pricing
Objectives
Profit
Oriented
Sales
Oriented
Status
Quo
Target
Return
Growth in
Market Share
Maximize
Profits
Dollar or Unit Sales
Growth
Meeting
Competition
Nonprice
Competition
Question: Which
of these are
your pricing
objectives?
Question: Which of these are your pricing objectives?
Do you agree/disagree as a planning team?
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48. Copyright 2014 Haines Centre for Strategic Management
COMPETING AGAINST PRICE
Three tried and true methods a market leader can use to fight back against a
price attack:
1. Do something special
The leader can go to its biggest customers and make a unique offer. Nike
went to Foot Locker with Tuned Air, a $130 running shoe that it makes
exclusively for the big shoe retailer. The result: Footlocker has ordered
more than a million pairs, and expects to sell $200 million worth.
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49. Copyright 2014 Haines Centre for Strategic Management
PRICING STRATEGY
Supply influences are the result of three basic factors:
Pricing objectives
Cost considerations in pricing
Product considerations
• perishability
• distinctiveness
• life cycle
Environmental influences are those which you cannot control:
Competition
Government regulations
Prevailing business climate
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50. Copyright 2014 Haines Centre for Strategic Management
TWO MAJOR APPROACHES TO PRICING
Cost oriented
Market oriented
In practice, most opt for a combination of the two
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51. Copyright 2014 Haines Centre for Strategic Management
DIFFERENT PROMOTIONAL TOOLS
Advertising
Sales promotion
Public relations
Sales force
Direct marketing
e-marketing
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52. Copyright 2014 Haines Centre for Strategic Management
PRIORITIES/WORKLOAD CHALLENGE
“All Things to All People”
While constructing alternative visions of the future can be helpful, it
can also carry a price. Says Harvard Business School's Michael Porter:
“If you try to be flexible and be ready for everything, you could end up
raising your costs and not being good at anything.” Managers
ultimately have to make choices, as Grove and his colleagues learned
the hard way at Intel. Says he: “I'd rather have all my eggs in one
basket and spend my time worrying about whether that's the right
basket, than try to put one egg in every basket. Because then you have
no upside.”
—Adapted from Ronald HenkoffThis document is a partial preview. Full document download can be found on Flevy:
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53. Copyright 2014 Haines Centre for Strategic Management
HOW TO BUILD A RELATIONSHIP
From two years of research conducted by the Centre for Strategic Management, in
which more than 2000 corporate CEOs were surveyed, a business "relationship" was
defined as having the following components (in order of the frequency each was
mentioned).
Trust - your client or prospect needs to know that you are who you say you are, that
you'll do what you say you'll do, and that your conversations with them will remain
confidential.
Mutual Respect - each person in the relationship must honor the abilities and
aspirations of the other.
Commitment - within legal, moral, and ethical bounds, you must be prepared to do
anything necessary to help a client or prospect achieve success.
Confidence - your client or prospect must have a comfort level with your
professionalism and your expertise, and have faith in your ability to solve problems and
meet challenges.
Guidance - be a mentor, counselor, advisor, and teacher to your client or prospect...with
their success as the ultimate goal.
Endurance - meaningful relationships last a lifetime.
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54. Copyright 2014 Haines Centre for Strategic Management
KEEPING CLIENTS
• A service is many times arbitrarily chosen based on other-than-cost
benefits – who you know and how well you know them counts
heavily.
• Earn trust.
• Under -promise and over-deliver.
• Be truly concerned with your client's and customer's personal and
business success.
• Succeed together with your customers and clients - no win/lose.
• Celebrate your client's and customer's successes with them.
- Alan R. Caron
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