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The Strategic Marketing Process

The Strategic Marketing Process

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The Strategic Marketing Process

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  1. The Strategic Marketing Process

  2. Four market-product strategies: Alternative ways to expand marketing opportunities, using Coca-Cola Company products as examples

  3. SWOTInternal Management Marketing Manufacturing Research & Dev. Finance Product Mix PersonnelExternal Economy Competition Consumer Trends Technology Industry/ Market Legal/Regulatory Channels

  4. STRATEGIC PLANNING TOOLS(O’s &T’s) Opportunities: a) How Attractive? b) Do we have the right business strength? Threats: a) How serious? b) How probable?

  5. SWOT ANATOMYSelected FactorsA. Internal

  6. SWOT ANATOMYSelected FactorsB. External

  7. Generic Marketing Strategies for Increasing a Firm’s Profits Present Markets, present products (market penetration) Increase Revenues Present markets, new products (product development) New markets, present products (market development) Goal Increase Profits New markets, new products (diversification) Decrease Expenses Scale or experience curve economies through larger unit volume Non-scale economies

  8. Three Generic Growth Strategies • I. Intensive • MP • MD • PD • II. Integrative • Backward • Forward • Horizontal • III. Diversification • Concentric • Horizontal • Conglomerate

  9. GE MULTIFACTOR MATRIX • Market Attractiveness • Market Size • Growth Rate • Profit Margins • Number of Competitors and Their Strength • Technological Conditions • Seasonality and Cyclicality • Business Strength • Market Share • Marketing Enterprise • R&D Skills • Manufacturing Efficiency • Quality of Products • New Product Planning • Unit Costs

  10. Profit Impact of Marketing Strategy (PIMS) • DATA: • 3,000+ SBUs from 450+ member business firms contributing 100+ data items – characteristics of market environment, competitor’s environment, strategies used by SBUs. • Best Predictors of ROI and Cash Flow • Market Share • Industry Growth Rate • PLC Position • Ratio of Marketing Expenses to Sales

  11. 1. Market Penetration How? >Greater Usage >Competitor’s Competition >Noncustomers Tactics? >Lower Prices >Expanded Distribution >Greater Promotion When Effective? >Growth Market • 2. Market Development How? > New Locations >New Channels >New Customers International Markets >Exporting >Licensing >Joint Ventures >Direct Investment >Strategic Alliance

  12. 3. Product Development How? >Product Innovation (Augmentation) >Product Line Extension Success Factors >Sufficient Market Size >Firm’s Resources >Cannabalism >Competitive Response >Significant Point Of Difference • 4. Diversification Risky!!! Failures: > Anheuser-Busch >Eagle Snacks >Rohr and Grumman >Coca Cola >IBM >Holiday Inn