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Strategic Marketing Overview Macro View and Strategic Direction

Macro Environment Market Analysis Competitors

Marketing Planning Process


MISSION SITUATION ANALYSIS OBJECTIVES and POSITIONING STRATEGIES & TACTICS
1. Generic/ Growth Strategies
2. Marketing Mix: (Products & Services; Price; Place;
Promotion)

BUDGET EXECUTION & CONTROL


Source: Rothschild (1992)

EVALUATION

Chance favors the prepared mind.

- Louis Pasteur

Strategic Marketing Planning

Everest Mountain Climbing


You better have a good map and know how to read it You better understand weather patterns and know what you can handle You better know your team well, their capabilities and limitations

Strategic analysis of the external marketing environment

Market information and intelligence


Strategic analysis of the internal marketing environment

Determine a Strategic best fit based on the conclusions from the above

You need the right equipment for the job and you need to know how to use it.
The plan of attack better have all of this in mind.
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University of Gloucestershire Business School

Macro Environment economy, technology, culture, legislation,


politics, infrastructure

Competitive or Operating Environment customers

intermediaries, suppliers, existing and potential competitors, employees, media, administrators, interest groups.

Operational or Internal Environment


Corporate policy, competitive strategy, management systems, resources & capabilities

Management Decision Makers

University of Gloucestershire Business School

Source; West, Ford and Ibrahim (2006)

Marketing Audit / Planning


External Analysis
Customers Competitors Markets PEST Suppliers Intermediaries

Organisational mission, goals and corporate objectives

Internal Analysis
Performance:
- market; financial; processes; culture Resources, capabilities and competencies Brand and product portfolio

Marketing objectives Marketing Strategy


Achieving a superior competitive position within a defined market Products to offer Market segments to target Market positioning Competitive position tactics Relationship strategies

Opportunities and Threats

Strengths and Weaknesses

Adapted from Flynn (1999), Dibb et al. (2006) & Drummond and Ensor, (2001), West et al. (2006)

Marketing programmes
Marketing mix tactics (7Ps or 4Ps)
Generating strategic options: Portfolio models (E.g. BCG, GE) ANSOFF Strategies for leaders, challengers, etc 9

Implementation, Monitoring and Control


Schedules and budgets

Strategic Decisions
Where to compete

External
Analysis
Identification
Trends/future events Threats/opportunities Strategic uncertainties

How to compete

Analysis
Information-need areas Scenario analysis
Figure 3.1
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Performance improvements?

What will the future demand?

Competitive technological developments? Financial capacity of industry?

You cant just ask customers what they want and then try to give that to them. By the time you get it built, theyll want something new.
David Aaker, Damien McLoughlin, Strategic Market Management European Edition, 0470059869, Copyright 2007 John Wiley & Sons Ltd

- Steve Jobs
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2009, Cravens & Piercy

Threat of New Entrants

Determines industry profitability/attractiveness

Power of Suppliers

Competitive Rivalry

Power of Buyers

Adapted from Porter (1980)

Threat of Substitutes

http://youtu.be/mYF2_FBCvXw
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The nature of competition in an industry is the combined outcome of competitive pressures generated by:
The move of rivals battling for market share The entry of new rivals seeking market share Efforts of firms outside the industry to convince buyers to switch to their substitute products The push by suppliers to charge more for their input The push by buyers to pay less for products

The five forces model defines the structure and competition in an industry in a way that reveal:
What forces are driving changes within an industry The relative strength of each fundamental force Which fundamental force shape strategic conduct The strategic moves that rivals are likely to make

Components of the marketing mix and marketing environment


Technological forces

Political forces Product / Brand positioning Product People

Regulatory forces Target market selection

Price

Buyer/ Distribution Consumer (place)

Promotion Legal forces Differential advantage / Competitive edge Differential advantage/ Competitive edge Economic and competitive forces

Societal / Green forces

Source: Dibb et al
University of Gloucestershire Business School

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Interest rates Inflation rates Savings, investment, and credit Unemployment

Demographics Lifestyle Attitudes Consumerism Educational levels

Population growth Population age mix Ethnic markets

Educational groups Household patterns Geographical shifts

Reading TV Watching Spending time with family Going to movies Fishing

Computer activities Gardening Renting movies Walking Exercise Listening to music

Sources of raw materials Energy supply costs Green issues

Pace of change Government & industrial R&D expenditure PLC Opportunities for innovation

Political stability Pressure groups Trade union power

Legislative structures Anti-trust laws Trade policies

What major trends are discussed? Do you think any / all of this remains true as this video was shot in November 2010 Does this information ring true for your country as it was made in the US? What does it mean to us as marketers?

https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society _2701

A market exists only when there are buyers with needs who have the ability to purchase goods and services and products are available to satisfy the needs.
Markets are comprised of groups of people who have the ability and willingness to buy something because they have a need (value requirement for it).

2009, Cravens & Piercy

Price pressure caused by overcapacity and the lack of product differentiation


Buyer sophistication and knowledge

Substitute products or technologies


Saturation No growth sources Customer disinterest
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Risks of High-Growth Market

Competitive Risk Overcrowding Superior competitive entry Market Changes New technology Disappointing growth
David Aaker, Damien McLoughlin, Strategic Market Management European Edition, 0470059869, Copyright 2007 John Wiley & Sons Ltd

Firm Limitations Resource constraints Distribution unavailable

Price instability
Figure 5.5
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Alternative Growth Strategies


Present Products
I. Growth in existing product-markets

New Products
II. Product development Add product features, product refinement Expand product line Develop a new generation product Develop new products for the same market IV. Diversification involving new products & new markets Related Unrelated

Present Markets

Increase market share increase product usage


- frequency used - quantity used - new applications for current users

III. Market development

New Markets

Expand geographically Target new segments

V. Vertical integration strategies

Vertical Integration
Source: Aaker (1992: 241)

Forward integration Backward integration


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Strategic Groups
Pursue similar competitive strategies Have similar characteristics Have similar assets and competencies

David Aaker, Damien McLoughlin, Strategic Market Management European Edition, 0470059869, Copyright 2007 John Wiley & Sons Ltd 28

Potential Competitors
Market expansion Product expansion Backward integration Forward integration The export assets or competencies Retaliatory or defensive strategies

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Understanding the Competitors


Size, Growth & Profitability Image and Positioning

Objectives and Commitment

Strengths and Weaknesses


Exit Barrriers

Competitor Actions

Current and Past Strategies

Organisation and Culture


Cost Structure
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Figure 4.3

Figure 4.3

Strategic analysis must take place on many levels to capture the multitude of interactive dynamics effecting a company. Numerous tools and models are available to assist in the data collection and analysis process. Ultimately, strategic marketing managers must decide a strategic best fit, between external opportunities and internal strengths while working around external threats and internal weaknesses. Every plan must be continually monitored and adapted as the environment changes.
31 University of Gloucestershire Business School