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Similaire à Strategic planing for competitive advantage (20)
Strategic planing for competitive advantage
- 1. Strategic Planning for
Competitive Advantage
2
chapter
Prepared by
Deborah Baker
Texas Christian University
©2002 South-Western
Chapter 2 Version 6e 1
- 2. Learning Objectives
1. Understand the importance of strategic
marketing and know a basic outline for a
marketing plan.
2 2. Develop an appropriate business mission
statement.
chapter
3. Describe the criteria for stating good
marketing objectives.
©2002 South-Western
Chapter 2 Version 6e 2
- 4. Learning Objectives (continued)
8. Describe elements of the marketing mix.
9. Explain why implementation, evaluation, and
control of the marketing plan are
2 necessary.
chapter
10. Identify several techniques that help make
strategic planning possible.
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Learning Objective
Understand the importance of
strategic marketing and know
a basic outline for a marketing plan.
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Strategic Planning
The managerial process of
creating and maintaining a
fit between the
organization’s objectives
and resources and evolving
market opportunities.
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Strategic Planning
N
G RU TY
LON ABILI
FIT OWTH
EVOLVING PRO GR
D
MARKET AN
OPPORUNITIES
RESOURCES
&
OBJECTIVES
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Strategic Marketing Planning
What is the organization’s main activity?
How will it reach its goals?
The Marketing Plan
The Marketing Plan
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Planning
The process of anticipating
future events and
determining strategies to
achieve organizational
objectives in the future.
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The Marketing Plan
A written document that
acts as a guidebook of
marketing activities for the
marketing manager.
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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
Pla ng
success of future activities
keti
n
Mar
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Marketing Plan Elements
Business Mission
Statement
Objectives
Situation or
SWOT Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product Distribution
Promotion Price
Implementation
©2002 South-Western
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Control
- 13. 2
Learning Objective
Develop an appropriate
business mission statement.
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Defining the Business Mission
Answers the question:
What business are we in and
where are we going?
Focuses on the market(s) rather than
the good or service
Strategic Business Units may also
have a mission statement
©2002 South-Western
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PepsiCo’s Mission Statement
“PepsiCo’s overall mission is to increase the value of our
shareholders’ investment. We do this through sales
growth, cost controls and wise investment of resources.
We believe our commercial success depends upon
offering quality and value to our consumers and
customers; providing products that are safe, wholesome,
economically efficient and environmentally sound; and
providing a fair return to our investors while adhering to
the highest standards of integrity.”
http:www.pepsico.com
©2002 South-Western
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Strategic Business Units (SBUs)
Characteristics
Characteristics
1. A distinct mission and specific target market
2. Control over their resources
3. Their own competitors
4. Plans independent of other SBUs
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Learning Objective
Describe the criteria for stating
good marketing objectives.
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Marketing Objective
A statement of what is to be
accomplished through
marketing activities.
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Marketing Objectives
Marketing Objectives Must Be:
Realistic
“Our objective is to
increase market
Measurable share by 40% and to
obtain customer
Time specific satisfaction ratings
of at least 90% in
2001.”
Consistent with
Organization’s Priorities
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Marketing Plan Objectives
Communicate marketing
management philosophies
Provide direction
Serve as motivators
Clarify thinking
Provide basis for control
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Learning Objective
Explain the components
of a situation analysis.
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SWOT Analysis
Identifying
internal strengths (S)
and weaknesses (W)
and also examining
external opportunities (O) and
threats (T)
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SWOT Analysis
S Things the company does well.
Things the company does well.
Internal
W Things the company does not do well.
Things the company does not do well.
O Conditions in the external environment
Conditions in the external environment
that favor strengths.
that favor strengths.
External
Conditions in the external environment
T
Conditions in the external environment
that do not relate to existing strengths
that do not relate to existing strengths
or favor areas of current weakness.
or favor areas of Publishing weakness.
©South-Western College current
©2002 South-Western
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SWOT Analysis
Strengths and Weaknesses
Strengths and Weaknesses
INTERNAL
INTERNAL
Production Costs
Marketing Skills
Employee Capabilities
Financial Resources
Available Technology
Company/Brand Image
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SWOT Analysis
Opportunities and Threats
Opportunities and Threats
EXTERNAL
EXTERNAL
Social Technological
Demographic Political/Legal
Economic Competitive
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Environmental Scanning
Collection and interpretation of
information about forces,
events and relationships in the
external environment that may
affect the future of the
organization or the marketing
plan implementation.
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Environmental Scanning
Examination of macroenvironmental forces
Social
Demographic
Economic
Technological
Political / Legal
Competitive
Helps identify market
opportunities
Provides guidelines for
design of marketing strategy
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Learning Objective
Identify sources of
competitive advantage
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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 Advantage
Cost
Cost
Types of
Types of
Competitive
Competitive Product/Service
Product/Service
Advantage
Advantage Differentiation
Differentiation
Niche Strategies
Niche Strategies
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Cost Leadership
Obtain inexpensive raw materials
Create efficient operations
Design products for manufacture
Control overhead costs
Avoid marginal customers
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Cost Competitive Advantage
Being the low-cost competitor
in an industry while
maintaining satisfactory
profit margins.
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Sources of Cost Reduction
Experience Curves
Experience Curves Product Design
Product Design
Efficient Labor
Efficient Labor Reengineering
Reengineering
No-frills Products
No-frills Products Production Innovations
Production Innovations
Government Subsidies
Government Subsidies New Delivery Methods
New Delivery Methods
©2002 South-Western
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Competitive Advantage
Advantage achieved when a
firm provides something that
is unique and valuable to
buyers beyond simply
offering a lower price
than the competition.
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Common Differential Advantages
Brand names
Strong dealer network
Product reliability
Image
Service
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- 36. Sources of Differential 5
Competitive Advantage
Value impressions Augmented products
Features of a Features of a
product that product that are
signal value not expected by
the customer
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Competitive Advantage
Advantage achieved when a
firm seeks to target and
effectively serve a small
segment of the market.
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Niche Competitive Advantage
Used by small companies with
limited resources
May be used in a limited geographic
market
Product line may be focused on a
specific product line
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- 39. Sustainable 5
Competitive Advantage
A differential advantage
that cannot be copied
by the competition.
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Competitive Advantage
Patents
Patents
Copyrights
Copyrights
Locations
Locations
Equipment
Equipment
Technology
Technology
Organization’s
Organization’s
Skills and Assets Customer Service
Customer Service
Skills and Assets
Promotion
Promotion
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- 41. Strategic Windows 5
The limited period during which the “fit”
between
the key requirements
of a market and the
particular competencies
of a firm are at an optimum.
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Learning Objective
Identify strategic alternatives
and describe tools used
to help select alternatives.
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Strategic Windows
Market
Market Increase market share among
Penetration
Penetration existing customers
Market
Market Attract new customers to
Development
Development existing products
Product
Product Create new products for
Development
Development present markets
Diversification Introduce new products
Diversification
into new markets
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Strategic Alternatives
Market
Market Increase market share among
Increase market share among
Penetration
Penetration existing customers.
existing customers.
Market
Market Attract new customers
Attract new customers
Development
Development to existing products
to existing products
Product
Product Create new products
Create new products
Development
Development for present markets
for present markets
Introduce new products
Introduce new products
Diversification
Diversification into new markets.
into new markets.
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Strategic Opportunity Matrix
Present Product New Product
Present Market Product
Market
Penetration Development
New Market Diversification
Market Development
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Selecting a Strategic Alternative
Common Tools Philosophy
Profitability
Portfolio Matrix
$ Market Share
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Tools for allocating resources
among products or strategic
business units on the basis of
relative market share and market
growth rate.
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BCG Portfolio Matrix
MARKET SHARE DOMINANCE
MARKET GROWTH RATE
HIGH LOW
HIGH
?
$
LOW
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BCG Portfolio Matrix
MARKET SHARE DOMINANCE
HIGH LOW
High growth
High growth Low market share
Market leaders
HIGH LOW
Need cash
MARKET GROWTH RAT Require cash Poor profit margins
$ Low growth Low growth
High market share Low market share
High cash flow Minimal cash flow
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Portfolio Matrix Example
MARKET SHARE DOMINANCE
HIGH LOW
Notebook Palmtop
Computer (PROBLEM
(STAR) CHILD)
HIGH LOW
MARKET GROWTH RAT
Personal Mainframe
Computer Computer
(CASH COW) (DOG)
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Strategies for Resource Allocation
Provide financial resources if SBU
Build
Build (Problem Child) has potential to be a Star.
Preserve market share if SBU is a successful
Hold
Hold Cash Cow. Use cash flow for other SBUs.
Increase short-term cash return.
Harvest
Harvest Appropriate for all SBUs except Stars.
Get rid of SBUs with low shares in
Divest
Divest low-growth markets.
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Market Attractiveness Matrix
Tool for allocating resources
among strategic business units
on the basis of market
attractiveness and firm’s
positioning.
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Market Attractiveness Matrix (GE)
BUSINESS POSITON
STRONG MEDIUM WEAK
MARKET ATTRACTIVENESS
HIGH
High Attractiveness
Medium Attractiveness
MEDIUM
Low Attractiveness
LOW
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Market Attractiveness
Attributes of an
Attractive Market
High profitability
Rapid growth
Lack of government regulation
Insensitivity to price increase
Lack of competition
Availability of technology
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Learning Objective
Discuss target market strategies.
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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.
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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
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Target Market Strategy
Develop a marketing mix that will produce
satisfying exchanges with target markets
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Learning Objective
Describe elements of the marketing mix.
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The Marketing Mix
A unique blend of product,
distribution, promotion, and
pricing strategies designed to
produce mutually satisfying
exchanges with a target
market.
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Marketing Mix: The “Four Ps”
Price
Price
Promotion
Promotion
Place
Place
Product
Product
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Product Strategies
The starting point of
the “4 Ps”
Product
Product
Includes physical unit,
package, warranty,
service, brand, image,
and value
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Distribution (Place) Strategies
Product availability
where and when
Place
Place customers want them.
Involves all activities
from raw materials to
finished products
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Promotion Strategies
Role is to bring about
exchanges with target
Promotion
Promotion markets
Includes integration of
personal selling,
advertising, sales
promotion, and public
relations
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Pricing Strategies
The most flexible of
the “4 Ps”
Price
Price
Price X Units Sold =
Total Revenue
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Learning Objective
Explain why implementation, evaluation,
and control of the
marketing plan are necessary.
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Following Up the Marketing Plan
Implementation
Evaluation
Control
Marketing Audit
Comprehensive
Systematic
Independent
Periodic
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The Marketing Audit
A thorough, systematic,
periodic evaluation of the
goals, strategies, structure,
and performance of the
marketing organization.
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Learning Objective
Identify several techniques that help
make strategic planning effective.
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Effective Strategic Planning
Ongoing
Ongoing
Process
Process
Requirements
Requirements Creativity
Creativity
Management
Management
Support
Support
©2002 South-Western
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