Michael Porter Michael Porter has proposed three generic strategies that provide a good starting point for strategic thinking: Overall cost leadership. Overall cost leadership. Differentiation. Differentiation. Focus. Focus. Strategic Alliances Strategic Alliances Companies is an example Companies is an example of the strategic formulation of the strategic formulation Many strategic alliances take the form of marketing alliances. These fall into four major categories. Product or service alliances. Promotional alliances. Logistics alliances. Pricing collaborations.
Developing Marketing Strategies & Plans Chapter Two The Contents of the The Contents of the Marketing Plan Marketing Plan 1) Executive Executive summary and table summary and table of contents of contents . . It is a brief summary of the main goals and recommendations. A table of contents that outlines the rest of the plan.
Developing Marketing Strategies & Plans Chapter Two 2) Situation Analysis 2) Situation Analysis Data on sales, costs, the market, competitors, various forces in the macro environment. How is the market defined? How big is it? How fast is it growing? What are the relevant trends affecting the market? What is the product offering and what are the critical issues facing the company? Historical information can be included to provide context. All this information is used to carry out a SWOT (strengths, weaknesses, opportunities, threats) analysis.
Developing Marketing Strategies & Plans Chapter Two 3) Marketing Strategy 3) Marketing Strategy Includes the mission and marketing and financial objectives. Groups and needs that the market offerings are intended to satisfy. The product line's competitive positioning, which will inform the "game plan" to accomplish the plan's objectives. All this is done with inputs from other organizational areas, such as purchasing, manufacturing and sales.
Developing Marketing Strategies & Plans Chapter Two 4) Financial projections 4) Financial projections Sales forecast, expense forecast, break-even analysis. On the revenue side; the projections show the forecasted sales by month and product category. On the expense side,; the projections show the (costs of marketing, broken down into finer categories). The break-even analysis simply shows how many units must be sold monthly to offset the monthly fixed costs and average it variable costs.
Developing Marketing Strategies & Plans Chapter Two 5) Implementation Controls 5) Implementation Controls It spells out the goals and budget for each month or quarter. Management can review each periods results and take corrective action as needed. Management should take a number of different internal and external measures to assess progress and suggest possible modifications.
- Spring '13
- Marketing, Marketing and Customer Value