2. Marketing Strategy And Environment Flashcards Preview

Marketing > 2. Marketing Strategy And Environment > Flashcards

Flashcards in 2. Marketing Strategy And Environment Deck (16):
1

The value delivering process

1. discover the value
2. develop a suitable customer offering
3. deliver the value
4. communicate the value

2

The value delivering process

The value chain - a tool for creating and increasing perceived value

Support activities:
- firm infrastructure
- HR Management
- technology Development
- procurement

Primary activities:
- inbound logistics
- operations
- outbound logistics
- marketing and sales
- service

3

Strategic Management

PLANNING
- corporate, division-, business-, product planning

IMPLEMENTING
- organising leading

CONTROLLING
- measuring result
- diagnosing result
- taking corrective action

4

Corporate and division strategy

Planning activities:
- defining the mission
- defining the business
- assigning resources to each strategic business unit
- assessing growth opportunities

5

1. defining the mission

What is our business
WHO are our customers
What is the value to our customer
What will our business be
What should our business be
-> mission statement

6

2. defining the business

From product/service oriented to market-oriented definitions

Companies should consider their business as a customer satisfying process that delivers expected value and helps customers co-create value

7

3. resource allocation to SBU

Purpose of SBU (strategic business unit)

Develope separate strategies and assign appropriate funding to business that can be managed independently from each other

3 characteristics
- single business or collection of related business that can be planned separately from the rest
- own set of competitors for each SBU
- manager is responsible for planning

8

BCG growth market share mix

Y Achse: market growth
X Achse: relative market share
Dogs
Question marks
Stars
Cash cows

9

4. assessing growth opportunities
Ansoffs product market expansion

Y Achse: currents market
New market

X Achse: current product, new product

Market penetration
Market development
Product/service development
Diversification

10

The planning process

Business mission
External environment
Internal environment (SWOT anal.)
Goal formulation
Strategy formulation
Programme formulation
Implementation
Feedback and control

11

SWOT analysis

Strength
Opportunities
Wellness
Threat

12

Goal formulation

Goals are objectives that are specified w.r.t. magnitude and time. SBU set these goals and „manage by objectives“ MBO

Objectives must be..
Arranged hierarchically
Quantified
Realistic
Consistent

13

Strategy formulation
Porters generic strategies

Y Achse: broad market scope
Narrow market scope

X Achse: uniqueness, cost

Differentiation (quality)
Focus on differentiation
Cost leadership
Focus on costs

14

Programm formulation and implementation, feedback and control

Staff, Shared value
Systems, Strategy, Structure
Skills, Style

15

The marketing plan

Marketing plan is the central instrument for directing and coordinating the market effort

Executive summary and table content
Intro of the firm
Situation analysis
Marketing strategy
Marketing mix strategy
Financial projections
Implementation control

16

Recap

Corporate Level
- Mission
- Vision

Business unit level
- mission
- SWOT
- Goals
- Strategy

Price vs quality
Speed vs innovativeness
Individualization

Customer perceived value