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Company and Marketing Strategy: Partnering to Build Customer Relationships
•Chapter 2•PowerPoint slides•Express version
•Instructor name•Course name•School name•Date
Principles of Marketing, Sixth Canadian Edition
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Learning Objectives
• After studying this chapter, you should be able to:– Explain company-wide strategic planning and its four steps– Discuss how to design business portfolios and develop strategies
for growth and downsizing– Assess marketing’s role in strategic
planning and explain how marketers partner with others inside and outside the firm to build profitable customer relationships
– Describe the marketing process and the forces that influence it
– List the marketing management functions, including the elements of a marketing plan
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Strategic Planning
• Strategic planning:– Developing a strategic fit between– organizational goals and capabilities, and– changing marketing opportunities
• Steps in strategic planning:Figure 2.1
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Mission Statements
• Mission statement:– Statement of an organization’s purpose– What it wants to accomplish in the larger environment– Need to be specific, realistic, and motivating
Table 2.1
Company Product-oriented definition Market-oriented definition
M.A.C Cosmetics We make cosmetics We sell lifestyle and self-expression; tolerance of diversity, and a platform for the outrageous
Canadian Tire We sell tools, home improvement items, and automotive parts and accessories
We provide advice and solutions that transform ham-handed people into Mr. and Mrs. Fixits
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BCG Growth-Share Matrix
• Business portfolio• Portfolio analysis• Strategic business
unit (SBU)• Five forces driving
profitability:– Barriers to entry– Power of the
customer– Power of suppliers– Presence of
substitutes– Competitive rivalry
within industry
Figure 2.2
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Strategies for SBU’s
• Porter:– Overall cost leadership– Differentiation– Focus
• Treacy and Wiersema:– Operational excellence– Product leadership– Customer intimacy
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Product-Market Expansion Grid
• Product-market expansion grid:– Portfolio planning tool for identifying company growth
opportunities
Figure 2.3
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Partnering to Build Customer Relationships
• Marketing’s role in strategic planning:– Provides a guiding philosophy– Provide inputs to help identify marketing opportunities and assess
potential for taking advantage of them– Designs strategies for reaching objectives
• Partner relationship management
• Value chain• Value delivery network
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The Marketing Process
• The marketing process:– Analyzing marketing
opportunities– Selecting target markets– Developing the
marketing mix, and– Managing the marketing
effort
• Market segmentation• Target marketing• Market positioning
Figure 2.4
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The Four P’s of the Marketing Mix
• The marketing mix:– Set of controllable,
tactical marketing tools
– Blended to produce the desired response in the target market
Figure 2.5
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The Four P’s Versus C’s
Product
Price
Place
Promotion
Customer solution
Customer cost
Convenience
Communication
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Managing the Marketing Effort
• Four marketing management functions:– Marketing analysis– Marketing planning– Implementation– Control
Figure 2.6
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Contents of a Marketing Plan
• Executive summary• Current marketing situation
– Market description, product review, competition, and distribution
• Threat and opportunity analysis• Objectives and issues• Marketing strategy• Action program• Budgets• Controls
Table 2.2
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The Control Process
• Marketing control• Marketing audit
Figure 2.7
Set goals
What do we want to achieve?
Measureperformance
What is happening?
Evaluateperformance
Why is it happening?
Take correctiveaction
What should we do about it?
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In Conclusion…
• The learning objectives for this chapter were:– Explain company-wide strategic planning and its four steps– Discuss how to design business portfolios and develop
strategies for growth and downsizing– Assess marketing’s role in strategic
planning and explain how marketers partner with others inside and outside the firm to build profitable customer relationships
– Describe the marketing process and the forces that influence it
– List the marketing management functions, including the elements of a marketing plan