Developing Successful
Marketing Strategies
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
Learning Objectives
After reading this chapter, you should be able to:
1.Describe the kinds of organization that exist and the three levels
of strategy in them.
2.Describe how core value, mission, organizational culture,
business, and goals are important in organizations.
3.Explain how organizations set strategic directions and tracks
performance by using marketing dashboards and metrics.
4.Describe the strategic marketing process and its three key
phases: planning, implementation, and evaluation.
5.Explain how the marketing mix elements are blended into a
cohesive marketing program.
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
DEVELOPING SUCCESSFUL MARKETING
STRATEGIES
‣ Canadian Tire: The
Creation and Growth of a
Visionary Organization
‣ Canadian company
‣ Founded in 1927
‣ Current Revenue of more
than $11 Billion Annually
‣ More than 57,000 employees
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
DEVELOPING SUCCESSFUL MARKETING
STRATEGIES
‣ Today’s Organizations
‣ Kinds of Organization
‣ Business firms
‣ Non-profit organizations
‣ What is Strategy?
‣ Long-term course of action designed to deliver a unique customer
experience while achieving organizational goals.
‣ Structure of Today’s Organization
‣ Corporate level
‣ Strategic Business unit level
‣ Functional level
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 1
FIGURE 2-1 The board of directors oversees the three
levels of strategy in organizations: corporate, business unit,
and functional
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 1
STRATEGY IN VISIONARY ORGANIZATIONS
‣ Organizational Foundation: Why does it exist?
‣ Core Values
‣ Mission
‣ Organizational Culture
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 2
FIGURE 2-2 Today’s visionary organization uses key
elements to (1) establish a foundation and (2) set a
direction using (3) its strategies that enable it to develop
and market its offerings successfully
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 2
STRATEGY IN VISIONARY ORGANIZATIONS
‣ Organizational Direction: What will it do?
‣ Business and Business Model
‣ Goals (SMART)
‣
‣
‣
‣
‣
‣
‣
‣
Profit
Sales revenue
Market share
Unit sales
Quality
Customer satisfaction
Employee welfare
Social responsibility
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 2
SETTING STRATEGIC DIRECTIONS
‣ A Look Around: Where Are We Now?
‣ Competencies
‣ Competitive advantage
‣ Quality
‣ Benchmarking
‣ Customers
‣ Competitors
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 3
Growth Strategies: Where do we want to go?
Boston Consulting Group Portfolio Analysis
Growth Strategies: Where do we want to go?
‣ Strategies?
‣
‣
‣
‣
Build (Invest)
Hold
Harvest
Divest
Market Product Analysis
Four Strategies
SETTING STRATEGIC DIRECTION
‣ Tracking Strategic
Performance with
Marketing Dashboards
and Metrics
‣ Car Dashboards and
Marketing Dashboards
‣ Marketing Dashboard
‣ Marketing Metric
‣ Marketing Plan
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 3
THE STRATEGIC
MARKETING PROCESS
‣ Strategic Marketing Process: The Planning Phase
‣ Step 1: Situation (SWOT) Analysis
‣ SWOT analysis (probability and impact)
‣ Step 2: Market-Product Focus and Goal Setting
‣
‣
‣
‣
Set marketing and product goals
Select target markets
Find points of difference
Position the product
‣ Step 3: Marketing Program
‣ Product, Price, Promotion & Place (distribution) strategies
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 4, 5
SWOT Analysis
‣ In this video, it is stated
that a number of people
who create SWOT analyses
stop after identifying each
of the components of SWOTs
and go no further. What is
the next step the video
refers to?
‣ What is the strategist
supposed to do next? Now
that we know there is more
work to do?
FIGURE 2-6 Ben & Jerry’s: A SWOT analysis to get it
growing again in Canada
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 4
FIGURE 2-7 Elements of the marketing
mix that comprise a cohesive marketing program
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 4, 5
THE STRATEGIC
MARKETING PROCESS
‣ Strategic Marketing Process: The Implementation
Phase
‣ Obtaining Resources
‣ Designing the Marketing Organization
‣ Developing Schedules
‣ Executing the Marketing Program
‣ Marketing strategy
‣ Marketing tactics
© 2011 McGraw-Hill Ryerson Ltd. All rights reserved.
LO 5