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Copyright 2000 Prentice Hall2-1
Chapter 2
Strategic Planning:
Making Choices in a Dynamic Environment
Copyright 2000 Prentice Hall2-3
Strategic Planning by Top Management
Strategic Planning Matches an Organization’s Resources and Capabilities to its Market
Opportunities for Long-Term Growth and Survival..
Business MissionBusiness Mission
SWOT AnalysisSWOT Analysis
Organizational Goals & ObjectivesOrganizational Goals & Objectives
Business PortfolioBusiness Portfolio
Growth StrategiesGrowth Strategies
Copyright 2000 Prentice Hall2-4
Strategic Planning:Define the Business Mission
What customersshould we serve?
How should wedevelop the firm’s
capabilities?What business
are we in?
What products & benefits can wecreate for ourcustomers?
A Mission
Statement Describes the Organization's
Overall Purpose
Copyright 2000 Prentice Hall2-5
Mission Statement for AT&T
“We aspire to be the most admired and valuable company in the world. Our goal is to enrich our customers’ personal lives and to make their businesses more successful by bringing to market exciting and useful
communications services, building shareowner value in the process.”
(www.att.com/factbook/co_mission.html)
Copyright 2000 Prentice Hall2-6
Strategic Planning:Evaluate the Environment: SWOT Analysis
SWOT Analysis
Assessment of Organization’s Internal &
External Environments
SWOT Analysis
Assessment of Organization’s Internal &
External Environments
External Environment Identify Opportunities & Threats to a Firm From
Consumers, Competitors, the Economy, etc.
External Environment Identify Opportunities & Threats to a Firm From
Consumers, Competitors, the Economy, etc.
Internal EnvironmentIdentify Strengths &
Weaknesses in Firm’s Employees, Technologies,Facilities, Finances, etc.
Internal EnvironmentIdentify Strengths &
Weaknesses in Firm’s Employees, Technologies,Facilities, Finances, etc.
Copyright 2000 Prentice Hall2-7
Strategic Planning:Set Organizational Goals and Objectives
Objectives (Goals) are specific accomplishments or outcomes that an organization hopes to achieve by a specific time.
Direct outgrowth of the mission statement. May relate to:
– revenue/sales, profitability, ROI, or– innovation, customer relations, etc.
Copyright 2000 Prentice Hall2-8
Strategic Planning:Establish the Business Portfolio (Fig. 2.4)
Different Products Owned by a Larger Firm.
Copyright 2000 Prentice Hall2-9
Strategic Planning:Develop Growth Strategies (Fig. 2.5)
Product/ Market Expansion Grid
Copyright 2000 Prentice Hall2-10
Tactical (Marketing) Planning by Middle Management
Tactical Planning Concentrates on Developing Detailed Plans for Strategies and Tactics for the Short Term that Support an Organization’s Long-
Term Strategic Plan.
Evaluate Marketing EnvironmentEvaluate Marketing Environment
Set Marketing ObjectivesSet Marketing Objectives
Develop Marketing StrategiesDevelop Marketing Strategies
Copyright 2000 Prentice Hall2-11
Creating a Competitive Advantage
A competitive advantage is the ability of a firm to outperform the competition, providing customers with a benefit the competition can’t. How?– Step 1. Identify distinctive competency
(firm’s capability superior to that of its direct competition).
– Step 2. Turn a distinctive competency into a differential benefit (one that is important to customers).
Copyright 2000 Prentice Hall2-12
Evaluating the Marketing Environment and Setting Objectives
Evaluating the Marketing EnvironmentEvaluating the Marketing Environment
Setting Marketing ObjectivesSetting Marketing Objectives
Sales ObjectivesSales Objectives
Product-Oriented ObjectivesProduct-Oriented Objectives
Market ObjectivesMarket Objectives
Copyright 2000 Prentice Hall2-13
Developing Marketing Strategies
Selecting a TargetMarket
Selecting a TargetMarketMarketing
Strategies-Activities to Achieve the MarketingObjectives
Marketing Strategies-Activities to Achieve the MarketingObjectives Developing
the Marketing
Mix
Copyright 2000 Prentice Hall2-14
Developing Marketing Mix Programs
Product StrategiesProduct Strategies
Pricing StrategiesPricing Strategies
Promotion StrategiesHow Marketers Communicate Product Benefits and Features to Target Market.
Distribution StrategiesOutlines How, When, and Where the Firm Makes the Product Available to Customers.
Determines What Specific Price a Firm Charges for a Product.
Decisions about Product Design, Packaging, Branding, Positioning, and Features.
Decisions about Product Design, Packaging, Branding, Positioning, and Features.
Copyright 2000 Prentice Hall2-15
Preparing a Marketing Plan
Situation Analysis
Marketing Problems and Opportunities
Marketing Objectives
Control Plans
Marketing Strategies
Marketing Action Plans
Implementation Plans
Contingency Plans
Copyright 2000 Prentice Hall2-16
Implementing the Marketing Plan
Organizing the Marketing Function
Organizing the Marketing Function
Marketing Budgets
• Total amount of money spent on marketing, and• Allocation of money for each activity under the marketer’s control, such as for:
– product development– promotional activities
Marketing Budgets
• Total amount of money spent on marketing, and• Allocation of money for each activity under the marketer’s control, such as for:
– product development– promotional activities
Strategies are Put Into Action on a Day-to-Day Basis Through:Strategies are Put Into Action
on a Day-to-Day Basis Through:
• Functional Structure• Geographic Structure• Product Structure
Copyright 2000 Prentice Hall2-17
Controlling the Marketing Plan
Measuring Actual Performance, Comparing it to Planned Performance, and Making Necessary
Changes in Plans and Implementation.
Trend AnalysisTrend AnalysisTrend AnalysisTrend Analysis Marketing ResearchMarketing ResearchMarketing ResearchMarketing Research
Marketing AuditMarketing AuditMarketing AuditMarketing Audit
Copyright 2000 Prentice Hall2-18
Chapter Summary
Explain the strategic planning process. Tell how firms gain a competitive advantage
and describe the factors that influence marketing objectives.
Describe the steps in the marketing planning process.
Explain the factors involved in the implementation and control of the marketing plan.