Developing Successful Marketing and Corporate Strategies

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Chapter 2

• Developing Successful Marketing and Corporate
  Strategies

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We hire from the half of the college class that
makes the upper half possible.

• Donald L. Ross
• Former President COO
• Enterprise Rent-a-car

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Linking the marketing strategy to the strategic
plan.

• Strategic planning long-term plan dealing with
  the corporate mission primary goals.
• Marketing strategy identifies goals
  objectives and how they will be pursued.
• Sound similar?
• Its the how that makes the difference.
• Lets go back to Mr. Ross.

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We hire from the half of the college class that
makes the upper half possible.

• We want athletes, fraternity types especially
  fraternity presidents and social directors.
  People people.

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Keys to organizational success

• Customer relationships
• Innovation
• Quality
• Efficiency
• To achieve any and all of these you have to plan
  for them they dont just happen!

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Strategic planning at the corporate level

• Establishes a vision what we will be in the
  future
• Establishes a mission who we are and what we do
• Establishes a goal a targeted level of
  performance

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Specific goals can be

• Profits
• Sales revenue
• Market share
• Unit sales
• Quality
• Employee welfare
• Social responsibility

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BCG quantified performance measure PP2-4 Boston
Consulting Group growth-share matrix
20 High 10 Low 0
?
Question mark
Star
A
Market growth rate
D
B
Cash cow
Dog
C
10x High 1x Low 0.1x
Relative market share (share relative to largest
competitor)
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Sometimes this is called a portfolio analysis.
It is a look at all of your products and their
strength in the company.
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The strategic marketing processthe planning
phase

• Situation (SWOT) analysis
• Market product focus
• Marketing program

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1 SWOT

• Strengths what do we do best
• Weaknesses what are the chinks in our armor
• Opportunities where how can we grow
• Threats what will stop us
• S W are internal
• O T are external

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2 Market product focus

• Set new market product goals
• Select target markets
• Find points of difference
• Position the product

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3 Marketing program

• Product strategy
• Price strategy
• Promotion strategy
• Place strategy
• Do these sound familiar?
• See figure 2-7 on page 46.

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The strategic marketing planthe implementation
phase

• Obtain the resources needed to produce and market
  efficiently
• Design a marketing organization
• Develop schedules
• Execute the plan do it!
• Strategy decisions
• Tactical decisions

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The strategic marketing processthe control phase

• Compare actual results to planned goals
• Identify deviations
• Is the planning gap significant
• Act on the deviations
• Exploit the good
• Correct the bad

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A written market plan

• It is a road map of future marketing activities
• Can be used internally
• New product lines
• Expanding market areas
• Can be used externally
• Financing a start up

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Elements of a plan

• Executive summary
• Description of the company
• Strategic focus and plan
• Situation analysis
• Market product focus
• Marketing program
• See figure A-1 on page 54

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Questions?

• For next class, please read Chapter 3, Scanning
  the Marketing Environment