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Marketing Management 3.

Marketing Management 3. Marketing Planning. Strategy vs. Tactics. Strategy : a marketing plan for a period longer than a year (i.e., long-run). Must be consistent, measurable, acceptable, and realistic Stratagus (Greek word) = the art of general (or the art of thinking in general terms)

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Marketing Management 3.

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  1. Marketing Management3. Marketing Planning

  2. Strategy vs. Tactics • Strategy: a marketing plan for a period longer than a year (i.e., long-run). Must be consistent, measurable, acceptable, and realistic • Stratagus (Greek word) = the art of general (or the art of thinking in general terms) • Tactics: marketing plan for a period of a year or less • Focus is on the 4Ps within a given budget and timeframe • Strategic plan handout: • Test: What are the seven major steps of a marketing plan • Details: for your team projects

  3. Generic Strategiesby Michael Porter

  4. Selecting Strategies:Managerial Techniques • Corporate performance objectives (Profits, Sales…) • Portfolio analysis (complex analysis of corporate units) • BCG Matrix • GE Matrix • Ansoff Matrix • SWOT Analysis • PLC (Product Life Cycle) • Gap Analysis (comparing goals vs. actual results) • 80/20 rule: focus on 20% of products / customers that provide about 80% of sales volume and profits

  5. Portfolio Analysis • SBU: Strategic Business Unit, any part of the company that can be managed separately • SBUs are often calleddivisions or departments • In Marketing a product, product line, or a brand may be an SBU • Portfolio Management: management of SBUs according to organizational objectives and the SBU’s contribution to the company’s performance • Ex:investing in selected SBUs vs. eliminating SBUs

  6. BCG: Boston Consulting Group BCG’s Growth-Share Matrix

  7. BCG Matrix • Star: Sony Playstation 2 (trendy products) • Cash Cow: Ivory soap for Procter & Gamble (old, stable brands) • ???: MP3 players (relatively new products) • Dogs: Playboy – the magazine (lossmakers to keep or )

  8. The G.E. Matrix: Indexes of SBU Performance • Market share • Customer knowledge • Customer satisfaction • Cost efficiency • Product quality • Financial strength • Market size • Market growth • Comp. pressure • Price level • Regulation Index of Business Strength Average Strong Weak Green High Green Yellow? Market Attractiveness Index Medium Green Yellow? Red Low Yellow? Red Red

  9. GE Matrix • Green SBU – go ahead and invest in the long-run • Yellow SBU – be cautious, SBU “maintenance” • Red SBU – stop, drive SBU out of market

  10. Ansoff-Matrix or Product-Market Expansion Grid

  11. Ansoff-Matrix Improving the performance of existing businesses • “Do Nothing” if the environment is static (short-run only) • “Withdraw” when there is an irreversible decline in demand or opportunity costs of staying in a market are too high • “Consolidation” means concentration of resources and focusing on existing competitive advantages • “Penetration” means gaining market share

  12. SWOT Analysis SWOT is a universal analytical tool developed by the military: Matching corporate skills and resources with forecasted market opportunities • Strengths: Internal Positives(available skills & competencies) • Weaknesses: Internal Negatives(poor use or lack of skills) • Opportunities: External Positives(evaluating areas where advantages may be gained, ex: add a new product, target new segments) • Threats: External Negatives(evaluating forces that may prevent the company from accomplishing its objectives, ex: competition, regulation, customer preferences)

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