Marketing & Strategy
Chapter 2
Strategic Planning
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What is it?
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“The managerial process of creating and
maintaining a fit between organizational
objectives and resources, and the evolving
market opportunities”
Why is it important?
Strategic Planning & Marketing

Planning

Market planning

Market plan
Mission
Statement
Situation
Analysis
Objectives
Marketing
Strategy
The Strategic Planning Process
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Define the Business’ Mission
Conduct a Situation Analysis
Establish Marketing Plan Objectives
Determine Competitive Advantage
Evaluate Strategic Alternatives
Describe Target Market
Adjust Marketing Mix
Follow-up
Define the Business’ Mission

Mission statement

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What does it do?
Examples:

Profit v. Nonprofit companies
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Three organization levels
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Corporate
Business unit
Functional
Mission Statements
“To bring inspiration
and innovation to
every athlete in the
world. .”
“to organize the
world's information
and make it universally
accessible and useful.”
“We save people
money so they can live
better.”
“To inspire and nurture
the human spirit – one
person, one cup and
one neighborhood at a
time.”
“To refresh the
world...to inspire
moments of optimism
and happiness...to
create value and make
a difference.”
Conduct a Situation Analysis


Environmental
Scanning
Strengths
Weaknesses
Opportunities
Threats
SWOT Analysis
Establish Marketing Plan Objectives

What are you wanting to accomplish?
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Marketing objectives
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Realistic
Measurable
Time specific
Benchmarked
Determine Competitive Advantage
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Competitive Advantages
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Three basic types

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Cost leadership
Differentiation
Niche
Sustainable competitive advantage
Evaluate Strategic Alternatives

Market-Product
Analysis

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Market penetration
Product development
Market development
Diversification
Source:
www.hunt4freebies.com
Evaluate Strategic Alternatives

?
BCG Analysis

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Two dimensions
Four classifications

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Cash Cows
Stars
Question marks
Dogs
Source: www.clker.com
Evaluate Strategic Alternatives
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Four strategies
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Build
Hold
Harvest
Divest
Source: http://www. cocacolasabco.com
Source: http://www.designfloat.com
Describe Target Market

Market Strategy

How can we segment?
Adjust Marketing Mix

Product

Price

Place

Promotion
Following Up

Implementation

Evaluation

Control