Chapter_02 - Strategic Marketing Planning(week two 1...

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1 (week two)
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2 2 Learning objectives 1. Explain strategic planning 1. Describe the marketing management and planning process 1. Identify the sections of a marketing plan and specify the contents of each section 1. Discuss the development of marketing strategy and its implementation 1. Explain the ways in which marketing organisations control and evaluate their marketing performance
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3 Marketing Process Marketing process is about: Analysing marketing opportunities Selecting target markets Developing marketing mix for those selected markets Managing marketing efforts
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4 The Marketing Process Target Consumers Product Place Price Promotion Marketing Implementation Planning Control Analysis Competitors Marketing Channels Publics Suppliers Demographic- Economic Environment Technological- Natural Environment Political- Legal Environment Social- Cultural Environment
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5 Why Plan? If you don’t know where you’re going If you don’t know where you’re going every road will get you there.” every road will get you there.”
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6 Planning Important for both large and small organisations Encourages systematic thinking Forces tighter objective setting Fosters coordination
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7 Strategic Planning Most organisations operate according to formal plans Managers are often too busy and have no time for planning Planning can help making sense of changing environment – and actually fosters flexibility Melding foresight, analysis and imagination Organisations failing to plan are planning to fail
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8 What is - Strategic Planning? The process of developing and maintaining a strategic fit between the organisation’s goals and capabilities in the light of changing marketing opportunities. It relies on developing a clear: Company mission Objectives Sound Business Portfolio Coordinated Functional Strategies
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9 Core Competencies The skills and abilities that enable the firm to deliver The things that the organisation does best They provide access to a range of markets They contribute to the perceived customer value of the product They are difficult for competitors to initiate Understanding core competencies help determine What industry should I be in? What do I do well and how can I capitalise on it? What limitations do I have to work around?
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10 Strategy Hierarchy 1. Corporate Strategy level 2. Strategic Business Unit (SBU) Level 3. Functional Level of SBU ( eg Marketing Strategy)
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11 The Strategy Hierarchy SBU Strategy SBU Strategy • Business definition • Objectives • Product market portfolio • Competitive strategy • Resource allocation and management Marketing Strategy •Marketing  objectives •Product/markets strategies Corporate  Level Functiona l Level of  SBU Strategic  Business  Unit Level Corporate Strategy
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Chapter_02 - Strategic Marketing Planning(week two 1...

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