Strategic Planning and the Marketing Process

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Strategic Planning and the Marketing Process
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• Unless we change our direction we are likely to
  end up where we are headed.
• -ANCIENT CHINESE WISDOM

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Planning Benefits

• Encourages thinking ahead systematically
• Sharpens objectives
• Results in better coordination
• Suggests clear performance standards

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STRATEGIC PLANNING

• The process of developing and maintaining a
  strategic fit between the organizations goals
  and capabilities and its changing marketing
  opportunities.

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• Strategic planning involves
• Defining a clear company mission
• Setting company objectives
• Design (evaluate) business portfolio
• Developing/Coordinating functional strategies

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Mission Statements

• Addresses the questions
• What is the purpose of our business?
• Why do we (or should we) exist?
• Who is the customer?

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Characteristics of Good Mission Statements

• Market oriented
• Think NEEDS/WANTS, not products
• Marketing myopia
• Realistic
• Clear and focused (specific)
• Based on sustainable distinctive competencies
  which bestow differential advantages to
  organization

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Characteristics of Good Mission Statements
(contd)

• Should fit the marketing environment
• Motivating
• Future oriented
• Above ALL else, useful and memorable

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A Short Mission Statement Checklist

• Mission statements should identify
• 1. Customer groups to be served (general target
  markets)
• 2. Needs/wants to meet
• 3. General technologies to be employed to meet
  customer needs

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How Should Mission Statements be Constructed?

• Examine ORGANIZATION (culture, desires, history,
  current mission statement, programs,
  characteristics)
• Examine EXTERNAL ENVIRONMENT (current and
  potential customers, publics, competition,
  environmental factors)
• MATCH the 2 to identify SWOT

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OBJECTIVES

• Objectives for Organization and Organizational
  Units should be
• Consistent with mission of organization
• Based on clear understanding of characteristics
  and environment
• Stated in QUANTITATIVE terms only if appropriate

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Marketing Strategy Marketing Mix

• Segment Markets
• Select Target Markets
• Seek those where you can develop sustainable
  competitive advantages
• Select Market Position
• Position versus positioning
• Develop the Marketing Mix
• Product?customer solution Price?customer cost
  Place?convenience Promotion?communication