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Session 3 MG 220 MBA - 23 Aug 10
1. Part 1: Understanding Marketing Management > Corporate and Division Strategic Planning > Business Unit Strategic Planning > Product Planning: The Nature and Contents of a Marketing Plan Class Presentation | Session 3 | 23 Aug 2010
2. Corporate & Division Strategic PlanningActivities Four Planning Activities Defining the Corporate Mission Establishing Strategic Business Units Assigning Resources to each SBU Assessing Growth Opportunities MG 220 Marketing Management 2
3. Corporate & Division Strategic Planning1. Defining the Corporate Mission Peter Drucker’s classic questions What is our business? Who is the customer? What is of value to our customer? What will our business be? What should our business be? MG 220 Marketing Management 3
4. Corporate & Division Strategic Planning1. Defining the Corporate Mission (…contd.) Mission Statements Focus on LIMITED goals Stress company’s major policies & values Define the major competitive spheres: Industry (in which company operates) Products & Applications Competence Market Segment Vertical (channels) Geographical MG 220 Marketing Management 4
5. Corporate & Division Strategic Planning2&3. Defining Business / Establishing SBUs A business is? Customer-satisfying process NOT: Goods-producing process MG 220 Marketing Management 5
6. Corporate & Division Strategic Planning2&3. Defining Business / Establishing SBUs (…contd) A SBU: Single business or collection of related businesses which can be planned from the rest of the company It has its own set of competitors It has a manager who is responsible for strategic planning and profit performance and who controls most of the factors affecting profit MG 220 Marketing Management 6
10. Corporate & Division Strategic Planning4. Assessing Growth Opportunities (…contd) Diversification Growth When good opportunities can be found outside current business New line of business NOT products Downsizing & Divesting Pruning & harvesting current portfolio MG 220 Marketing Management 10
13. Business Unit Strategic PlanningGoal Formulation Setting objectives & MBO Managing by Objectives Goals should have these characteristics They must be arranged hierarchically from the most to least important Objectives should be stated quantitatively whenever possible Goals should be realistic Objectives must be consistent MG 220 Marketing Management 13
14. Business Unit Strategic PlanningStrategic Formulation Goals: What a business wants to achieve Strategy: A game plan for getting there Porter’s Generic Strategies Overall Cost Leadership Differentiation Focus Strategic Alliances Product or Service Alliances (licensing to produce its product) Promotional Alliances (joint promotions) Logistics Alliances Pricing Collaborations (mutual price discounts) MG 220 Marketing Management 14
15. Business Unit Strategic PlanningProgram Formulation & Implementation Great Marketing Strategy can fail: If poorly implemented Strategy is one the seven elements in business practice! (McKinsey) Strategy Structure Systems Style Skills Staff Shared Values MG 220 Marketing Management 15
16. Business Unit Strategic PlanningFeedback & Control Need to track results and monitor new developments Need to continuously examine changing environment and to adopt to new goals and behaviors MG 220 Marketing Management 16
17. Product Planning: Marketing PlanNature Marketing Plan A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives MG 220 Marketing Management 17
19. AssignmentPart 1 of 4 Select a product brand (get it approved) Identify its 4Ps Max. one-page length, hand-written (shall be typed after review) Due: Mon, Aug 30, 2010 MG 220 Marketing Management 19
20. Part 2: Capturing Market Insights > Review and revision of Part 1 with local examples > Gathering Information & Scanning the environment > Key Concepts in complete Chapter 3 will be covered Class Presentation | Session 4 | 26 Aug 2010
