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Company and Marketing Strategy: Partnering to Build Customer Relationship …
Company and Marketing Strategy: Partnering to Build Customer Relationship
Strategic Planning
Sets the stage for the rest of the planning in the firm.
* 4 steps
Defining the company mission
Setting company objectives and goals
Designing the business portfolio
Palnning marketing and other functional stragtegies
* Market-Oriented Mission
Be market oriented
Fit the market environment
Be based on distinctive competencies
Be motivating
Objectives and Goals
The company's mission needs to be turned into detailed supporting objectives for each level of management
Marketing strategies and programs must be developed to support these marketing objectives
Business objectives
Build profitable customer relationships
Invaest in research
Improve profits
Marketing objectives
Increase market share
Create local partnerships
Increase promotion
Business Portfolio
Two steps
Analysing its current business portfolio and deciding which businesses should receive more, less or no investment
Shaping the future portfolio by developing strategies for growth and downsizing
Analyzing the Current Business Portfolio
Strategic business unit (SBU) is a unit of the company that has a separate mission and objectives
The attractiveness of its various SBUs and decide how much support each deserves
Portfolio Analysis
Two important dimensions
The strength of the SBU's position in that market or industry
The attractiveness of the SBU's market or industry
The BCG Growth-Share Matrix
Star
: High-growth High-share business
Good performance
Cash Cows
: Low-growth, High-share-business
Low attractiveness yet the business is still strong
Dogs
: Low-growth, Low-share business
No longer relevant
Question Marks
: Low-share-business, High-growth markets
Phased out or put more invst
Problems with Matrix Approaches
Difficulty in defining SBUs and measuring market share and growth
Time consuming
Expensive
Focus on current businesses, not future planning
Develop Growth Strategies
Marketing must identify,evaluate and select gowth opportunities and lay down strategies for capturing them
Market Penetration
: Increasing sales to current market segment without changing the product
Market Development
: Identifies and develops new market segments for current product
Product Development
: Offers new or modified products to existing market segments
Diversification
: Starting up or acquiring businesses outside the company's current products and markets
Downsizing
The reduction of the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company's overall strategy
Planning Marketing
Work closely with partners in other company deartments to form an effective value chain that serves the customer
Partner effectively with other companies in the marketing system to form a competitively superior value delivery network
Value Chain
Partnering with other company departments
Each company department can be thought of as a link in the company's value chain
Value Delivery Netwrok
Made up of the company, suppliers, distributors and ultimately customers who partner with each other to improve performance of the entire system
Marketing Strategies
The company hopes to achieve profitable relationships
Market Segmentation
Group of consumer who respond in a similar way to a given set of marketing efforts
Target Marketing
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter
Market Differentiation & Positioning
Differentiation
Developing the market offering to create superior customer value
Positoning
The arranging for a product o occupy a clear place to competing products in the minds of the target consumer
