Pf3e PPT ch02

Pride/Ferrell
Foundations of
Marketing
Third Edition
Chapter 2:
Planning Marketing
Strategies
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2–1
Part 1
Strategic Marketing and Its Environment
Chapter 2
Planning Marketing Strategies
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Copyright © Houghton Mifflin Company. All rights reserved. 2–2
Objectives
1. Describe the strategic planning process.

2. Explain how organizational resources and opportunities
affect the planning process.
3. Understand the role of the mission statement in
strategic planning.
4. Examine corporate, business-unit, and marketing
strategies.
5. Understand the process of creating the marketing plan.
6. Describe the marketing implementation process and the
major approaches to marketing implementation.
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Outline
1. Understanding the Strategic Planning Process

2. Assessing Organizational Resources and Oppo
rtunities
3. Establishing an Organizational Mission and Go
als
4. Developing Corporate, Business-Unit, and Mar
keting Strategies
5. Creating the Marketing Plan
6. Implementing Marketing Strategies
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Key Terms
benchmarking external custom marketing strate
ers gy
market-growth/ sustainable com
market-share m petitive advanta
centralized orga intended strateg atrix mission stateme ge
nization y nt
competitive adv internal custom marketing contr performance sta SWOT analysis
antage ers ol process ndard
core competenc internal marketi marketing imple realized strateg TQM

ies ng mentation y
corporate marketing
market SBU
strategy objective
decentralized market strategic
marketing plan
organization opportunity planning
marketing strategic
empowerment market share
planning windows
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1. STRATEGIC PLANNING PROCESS
The process of
establishing an
organizational mission
and formulating goals,
corporate strategy,
marketing objectives,
marketing strategy,
and a marketing plan
© Used By Permission.
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Components of Strategic Planning
Figure 2.1 KeyTer

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Marketing Strategy
A plan of action for

identifying and
analyzing a target
market and
developing a
marketing mix to meet
the needs of that
market
 Marketing Plan
© Used By Permission. KeyTer

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Effective Marketing Strategy
 Reflects overall direction of organization

 Coordinated with firm’s functional areas
 Contributes to achievement of:
• Marketing objectives
• Organizational goals
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2. ASSESSING ORGANIZATIONAL RESOURCES
AND OPPORTUNITIES
Assessing financial and human

resources
 Capabilities vs. changes
 Marketing and financial affect
Goodwill, reputation and brand
as resources
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Core Competencies
Things a firm does

extremely well, which
sometimes give it an
advantage over its
competition
BIC maintains its core

competency in stationary
products, lighters, and
shavers
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Market Opportunity
A combination of circumstances and timing

that permits an organization to take action
to reach a particular target market.
 Real estate is all about Market Opportunity

 Explore www.realtor.com
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Strategic Windows
Temporary periods of optimal fit between the

key requirements of a market and the particular
capabilities of a firm competing in the market.
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Competitive Advantage
The result of a
company’s
matching a core
competency
(superior skill or
resources) to
opportunities in
the marketplace
© Used By Permission. KeyTer

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SWOT Analysis
An assessment of the organization’s strengths,

weaknesses, opportunities, and threats
Figure 2.2
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3. ESTABLISHING AN ORGANIZATIONAL
MISSION AND GOALS
Mission Statement Answers:

 Who are our customers?
 What is our core competency?
Corporate Identity
 Unique Symbols
 Personalities
 Philosophies
Celestial Seasonings complete

mission statement
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Marketing Objective
A statement of what is to be accomplished

through marketing activities to match strengths
to opportunities, or to provide for the conversion
of weaknesses to strengths
 Should be stated in clear, simple terms
 Should be accurately measurable
 Should specify a time frame for accomplishment
 Should be consistent with business-unit and
corporate strategy
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Promotional Elements at Jordan’s Furniture
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4. DEVELOPING CORPORATE, BUSINESS-UNIT,
AND MARKETING STRATEGIES
Figure 2.4 KeyTer

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Corporate Strategy
A strategy that
determines the means
for utilizing resources
in the various
functional areas to
reach the
organization’s goals
Page 34
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Corporate Strategy Development
Influencing Issues
 Corporate culture
 Competition
 Differentiation
 Diversification
 Interrelationships
among business units
 Environment concerns
and social issues
Accenture's corporate strategy is geared

toward helping companies become high
performance businesses © Used By Permission.
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Business-Unit Strategy
Strategic
Business Unit
(SBU)
 A division, product
line, or other profit
center within a
parent company
Band-Aid is a strategic business

unit of Johnson & Johnson
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Market
A group of individuals and/or organizations

that have needs for products in a product
class and have the ability, willingness, and
authority to purchase those products
 Market Share
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Market-Growth/Market-Share Matrix
Figure 2.5
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Marketing Strategy
Components of
marketing strategy
 Target Market
Selection
 Creating the
Marketing Mix
 Sustainable
Competitive
Advantage
Page 35
Dyson targets homeowners with
its high-tech vacuum cleaners.
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Components of Marketing Mix
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5. CREATING THE MARKETING PLAN
Marketing Planning
 The process of
assessing
opportunities and
resources,
determining
objectives, defining
strategies, and
establishing
guidelines for
implementation and
control of the
marketing program
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Components of the Marketing Plan
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6. IMPLEMENTING MARKETING STRATEGIES
The process of putting marketing strategies into

action
 Intended Strategy
 Realized Strategy
Intended Realized
Implementation
Strategy Strategy
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Approaches to Marketing Implementation
Customers
 External customers
 Internal customers
Internal Marketing
 External Customers
 Internal Customers
Total Quality Management
 Benchmarking
 Empowerment
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TQM Example
Xerox Quality
Improvement
Processes
Produced a
Faster Color
Printer
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Organizing Marketing Activities
Alternatives for Organizing

the Marketing Unit
Centralized
Marketing Product Geographic Customer
or
Functions Groups Regions Types
Decentralized
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The Marketing Control Process
Figure 2.7
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After reviewing this chapter you should:
Be able to describe the strategic planning process.

Know how organizational resources and opportunities
affect the planning process.
Understand the role of the mission statement in
strategic planning.
Be familiar with corporate, business-unit, and marketing
strategies.
Understand the process of creating a marketing plan.
Be able to describe the marketing implementation
process and the major approaches to marketing
implementation.
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Pride/Ferrell

1. Describe the strategic planning process.

1. Understanding the Strategic Planning Process

core competenc internal marketi marketing imple realized strateg TQM

Figure 2.1 KeyTer

A plan of action for

© Used By Permission. KeyTer

 Reflects overall direction of organization

Assessing financial and human

Things a firm does

BIC maintains its core

A combination of circumstances and timing

 Real estate is all about Market Opportunity

Temporary periods of optimal fit between the

© Used By Permission. KeyTer

An assessment of the organization’s strengths,

Mission Statement Answers:

Celestial Seasonings complete

A statement of what is to be accomplished

Figure 2.4 KeyTer

Accenture's corporate strategy is geared

Band-Aid is a strategic business

A group of individuals and/or organizations

The process of putting marketing strategies into

Alternatives for Organizing

Be able to describe the strategic planning process.

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