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Lt1--CorpStragPlanning

Lt1--CorpStragPlanning

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Published by: Ashish Kalra on Dec 02, 2011
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05/03/2012

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Corporate Strategic Planning

Asia-Pacific Marketing Federation Certified Professional Marketer
Copyright Marketing Institute of Singapore

Outline

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Introduction Meaning & Role of Strategic Planning Corporate Mission Strategic Business Units (SBU) Marketing Audit

Strategic Planning …is the managerial process of developing and maintaining a strategic fit between the organization's objectives and resources and its changing market opportunities. Org Objectives Strategic Fit Resources Changing Environment .

The Role of Strategy Corporate Mission & Objectives Strategy: •Corporate •Business •Functional Operating Plans .

and your victory will be complete. Know the terrain.” .Sun Tze on Strategy  “Know your enemy. and your victory will not be threatened. know the weather. know yourself.

” John Scully .Strategic Marketing “Marketing Strategy is a series of integrated actions leading to a sustainable competitive advantage.

Corporate Mission  Broad purposes of the organization  General criteria for assessing the long- term organizational effectiveness  Driven by heritage & environment  Mission statements are increasingly being developed at the SBU level as well .

aiming to provide services of the highest quality at reasonable prices for customers and a profit for the company .Examples of Corporate Mission SINGAPORE AIRLINES is engaged in air transportation and related businesses. It operates world-wide as the flag carrier of the Republic of Singapore.

by treating employees in ways that create extraordinary customer service and shareholder value .Examples of Corporate Mission (cont’d) MARRIOTT’S Mission Statement: We are committed to being the best lodging and food service company in the world.

Corporate Culture  The most abstract level of managerial thinking  How do you define culture?  What is the significance of culture to an organization?  How does marketing affect culture in the organization? .

10% growth in the next two years  Not quantified and not limited to a time period  E. increasing the return on shareholders’ equity .g.Corporate Objectives & Goals  An objective is a long-range purpose  A goal is a measurable objective of the business  Attainable at some specific future date through planned actions  E.g.

What is a Strategic Business Unit? (SBU)  A set of products or product lines  With clear independence from other products or product lines  for which a business or marketing strategy should be designed .

6th Ed. Marketing Planning & Strategy.Characteristics of a viable SBU  Unique business mission  Definable set of competitors  Integrative planning done independently  Responsible for resource management in all areas  Large enough but not so large as to become bureaucratic (Source: Subhash Jain.) .

Organizational Marketing Levels Hofer and Schendel suggested that organizations develop strategies at three structural levels:  Corporate level—(corporate marketing)  SBU level—(Strategic Marketing)  Product/Market level—(Functional Marketing) .

Marketing at the SBU Level— Strategic Marketing  Strategic Marketing requires  Strategic Marketing Detailed understanding of market needs. and Proactive use of competitive intelligence at the corporate as well as SBU’s levels Focuses on what the firm do best at the SBU level To secure and maintain a sustainable competitive advantage .

don’t compete.” Philip Kotler  “If you don’t have a competitive advantage. GE .What is Competitive Advantage?  “Competitive advantage is a company’s ability to perform in one or more ways that competitors cannot or will not match.” Jack Welch.

Other Characteristics of Competitive Advantage  Substantiality  Is it substantial enough to make a difference?  Sustainability  Can it be neutralized by competitors quickly?  Ability to be leveraged into visible business attributes that will influence customers (Source: Strategic Marketing Management. Aakers) .

Loyalty. Superior resources.  Sources of advantages Profit  Superior skills & knowledge. Market Share.Seeking Competitive Advantages  Positions of advantage  Superior customer value  Lower relative total cost  Performance advantages  Customer satisfaction. Superior business process .

PEST  Where to compete  How to compete  When to compete  Customers. Competitors & the Corporation Strategic Marketing Decisions .Key Elements of Marketing Strategy Formulation  The strategic 3 Cs   Environment analysis -.

A Viable Marketing Strategy  Must have a clearly defined market  Must have a good match between corporate strengths and market needs  Must have significant positive differentiation in the key success factors of the business .

 External Analysis—customers. Weaknesses. capability etc. decide on future options .Situation Analysis  Internal Analysis—company. market definition. industry structure  SWOT Analysis & Threats  Strengths. Opportunities  Identify & prioritize major problems and opportunities: selection of key issues  Based on the firm’s core competencies.

systematic. and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance” Philip Kotler . and periodic examination of a company’s—or business unit’s—marketing environment. strategies.Marketing Audit “Marketing audit is a comprehensive. independent. objectives.

Characteristics of Marketing Audit  Comprehensive  Must cover all marketing areas  Systematic  Sequential diagnostic steps  Independent  Internal & external auditors  Periodic  Performed at regular intervals .

Marketing Audit Procedure  Marketing environment audit  Marketing strategy audit  Marketing organization audit  Marketing system audit  Marketing productivity audit  Marketing function audit  Marketing excellence review  Ethical and social responsibility review .

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