Agenda

1
Agenda

• Questions on Article Review?
• gustafsm_at_msoe.edu
• people.msoe.edu/gustafsm/powerpoints
• people.msoe.edu/gustafsm/articles
• Marketing Insights?
• Lecture/Questions on Chapter 4
• Sample Marketing Plan (pp. 115-118)
• Divide into groups
• Topic selection

2
Winning Markets through Market-Oriented Strategic
Planning

• Marty Gustafson
• EM 670S
• March 19, 2003

3
Strategic Planning

• Strategic Marketing Plan (What)
• Target markets
• Value proposition
• Tactical Marketing Plan (How)
• Product features, promotions, pricing, sales
  channels
• Marketing Plan (Buy-in)
• Coordination with the other departments

4
Mission Statement

• Marketing wants the mission statement to reflect
  the customers view point
• Have some element of value to the customer defined

5
Business Unit Organization

• Marketing wants the business to be viewed as a
  customer-satisfying process, not a
  goods-producing process

6
What type of strategy?

• How fast is the overall market growing?
• What is your market share?
• What are the competitive pressures?
• What is your profit margin?

• Intensive Growth
• Integrative Growth
• Diversification Growth
• Downsizing

7
Intensive Growth
8
Getting Ready to Plan (SWOT)

• OT analysis
• Look at the external environment for new market
  opportunities
• Analyze the market opportunities for potential
  success
• Is there a defined target market?
• Can the market be sold/delivered to economically?
• Do we have the resources to do it?
• Can we do it better than someone else?
• Will we make money?
• SW analysis
• Look at the internal environment

9
Strategic Thinking

• Overall Cost Leadership
• Lowest prices to win a large market share
• Less marketing needed
• Differentiation
• Performance or Quality to a large market
• Focus
• Narrow market segment and pursue either cost
  leadership or differentiation
• Can we use alliances to help?

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Elements of the Plan
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The Plan

• Executive Summary and Table of Contents
• Current Market Situation
• Opportunities and Issues (SWOT)
• Objectives (volume, market share)
• Marketing Strategy
• Target market
• Competitive positioning
• Marketing Programs
• Financial Projections
• Metrics

12
Marketing Audit

• Executive Summary and Table of Contents
• Current Market Situation
• Review the industry and customers
• Opportunities and Issues (SWOT)
• Objectives (volume, market share)
• Check into annual reports or industry
  associations
• Marketing Strategy
• Do they have the right product mix?
• Do they need to introduce something new (product,
  service, pricing strategy, sales channel)?
• Recommend a Marketing Program
• Financial Projections (if possible)