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Marketing Strategy MKTG 3219

Marketing Strategy MKTG 3219. Spring 2004 UNC Charlotte Dr. L. E. Swayne. Things to Know. Chapter 1: Strategic Marketing Planning. Mission and Vision Goals and Objectives Strategy Strategic Thinking Marketing Plan SBU and SSU. Mission Statement. Broadly defined purpose Enduring

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Marketing Strategy MKTG 3219

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  1. Marketing StrategyMKTG 3219 Spring 2004UNC Charlotte Dr. L. E. Swayne

  2. Things to Know . . . Chapter 1:Strategic Marketing Planning • Mission and Vision • Goals and Objectives • Strategy • Strategic Thinking • Marketing Plan • SBU and SSU

  3. Mission Statement • Broadly defined purpose • Enduring • Highlights uniqueness of the organization • Identifies scope of operations

  4. Mission statements . . . • Target customers and markets • Indicate principle services • Specify geographic domain • Identify organizational philosophy • Illustrate desired self image • Specify desired public image

  5. Vision Statement • Hope for what the organization is to become • Importance of visionary leader • Inspiring • About excellence • Empower employees

  6. Values • Guiding principles of an organization • What the organization stands for • Must be lived, not just lip service • Examples: team work, innovation, quality improvement, customer focus, others?

  7. Strategic Goals Key performance areas • Critical success factors • Those things that must be done for the organization to achieve its mission and realize its vision

  8. Objectives • Specific and attainable • Measurable • What’s to be accomplished? • Time frame • Target market • Hierarchically consistent

  9. Strategy • Behavior of an organization • A plan

  10. Types of Strategies • Expansion strategies • Diversification • Vertical integration • Market development • Product development • Penetration

  11. Types of Strategies (Cont’d) • Contraction strategies • Divestiture • Liquidation • Harvesting • Retrenchment

  12. Types of Strategies (Cont’d) • Maintenance of scope strategies • Enhancement • Status quo

  13. Types of Strategies (Cont’d) • Purchase • Cooperation • Internal development

  14. Types of Strategies (Cont’d) • Market-wide - Cost leadership - Differentiation • Market Segment - Focus/cost leadership - Focus/differentiation

  15. Combination Strategies • Across SBUs or SSUs for large organizations • No one strategy may be sufficient

  16. The Marketing Plan • Executive Summary - Synopsis - Major aspects of the marketing plan • Situation and environmental analysis - Internal (Organizational) Environment - Customer Environment - External Environment - Competitive Environment

  17. The Marketing Plan (Cont’d) • SWOT Analysis - Strengths, weaknesses - Opportunities, threats • Marketing Goals and objectives - Marketing goals - Marketing objectives • Marketing strategies - Primary target market and marketing mix - Secondary target market and marketing mix

  18. The Marketing Plan (Cont’d) • Marketing Implementation - Structural issues - Tactical marketing activities • Evaluation and control

  19. Strategic Thinking • Leader’s orientation • Future • visionary

  20. Benefits of Strategic Thinking • Ties organization together with common purpose • Encourages future orientation • Externally oriented • Endorses change

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