MKTG 3Ce

Chapter 3
STRATEGIC PLANNING FOR
COMPETITIVE ADVANTAGE

3-1
 Today’s Class

• Check-in
• Quiz (20 minutes)
• Chapter 3 review
• Personal Branding Assignment Review

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 Strategic Planning

Organization’s
objectives and
resources

Creating and Strategic

maintaining a Planning
fit between
Evolving
market
opportunities

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Strategic Planning

corporate
business

marketing

Complex set of activities that occur at

three levels

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 Strategic Planning

Corporate Corporate
Planning

Business SBU SBU

Individual Individual Individual Individual

businesses businesses businesses businesses
Marketing that are that are that are that are
related related related related

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The Future of Business

https://www.ted.com/talks/philip_evans_how_data_will_transform_business
8
 Strategic Planning

Corporate Corporate
Planning

Business SBU SBU

Individual Individual Individual Individual

businesses businesses businesses businesses
Marketing that are that are that are that are
related related related related

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 Corporate Planning
 Objectives for business and marketing-level
planning that addresses:
• when
• where
• how
• whom
…to compete against…
 “What business are we in?”
 Establishes boundaries for subsequent decisions

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 “What business are we in?”
As a class, answer the questions above for each:
 Tim Horton’s
 Lululemon
 Cirque du Soleil
 Apple
 BMW
 Seneca College

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 Business Planning
Formulate strategies
to enhance the competitiveness
of the businesses
within the Strategic Business Unit (SBU)

 Marketing Myopia = Too Broad

Defining the business by All things to all
the goods and services people with no
offered vs. the benefits focus!
consumers are seeking

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Marketing Planning – 4 P’s

Price

Target
Product Promotion
Market

Place
+ 5= Positioning

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 Strategic vs. Tactical Decision

Strategic Decision
•Wider in scope and long-term in
orientation
Tactical Decision
•Narrower in scope and is short term

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 Strategic vs. Tactical Decision

3 Personal Strategic Decisions?

3 Personal Tactical Decisions?

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Strategic Marketing Plan

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Environmental Scanning - SWOT

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 Environmental Scanning - SWOT
 Objective of a SWOT analysis is to identify the
strategic direction of the firm
 Which collection or portfolio of businesses
should it operate?

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Environmental Scanning – SWOT
https://www.youtube.com/watch?v=I_6AVRGLXGA

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 Environmental Scanning – SWOT
Review this section for next week!
https://www.youtube.com/watch?v=mR9eICQJLXA

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 Competitive Advantage
 The set of unique features of a company and
its products that are perceived by the target
market as significant and superior to the
competition
• cost
• product/service differentiation
• niche strategies

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 Seneca’s Competitive Advantage
 The set of unique features of a company and
its products that are perceived by the target
market as significant and superior to the
competition
1. cost
2. product/service differentiation
3. niche strategies

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Cost Competitive Advantage
Experience
Efficient labour
No-frills goods and
services
Government subsidies

Cost
Competitive
Advantage

Product design
Re-engineering
Production innovations
New methods of service
delivery

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 Product/Service Competitive Advantage

 Example: Custom Oakley

glasseshttp://bit.ly/2Gwx7F9
 What is their competitive advantage?

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 Niche Competitive Advantage
 Selectively serving the needs of ONE segment
that has good growth potential but is not
crucial to the success of the major
competitors
• geographic niche (Seneca clothing)
• product niche (Booster Juice)
• Other examples?

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Building Sustainable Competitive Advantage
 An advantage that
• cannot be copied
• can be sustained
 Sources of tomorrow’s competitive advantages:
• Skills (i.e. customer service, promotions)
• Assets (i.e. patents, technology)
• + speed!

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Copyright © 2016 by Nelson Education Ltd. 3-27
 Setting Marketing Objectives
*REVIEW THIS FOR NEXT WEEK!
 A statement of what is
to be accomplished
Realistic
 S.M.A.R.T. GOALS –
what are they?
 Specific, Measurable,
Achievable, Relevant,
and Time-bound Time
Measurable
 Pick an object in class specific
and set SMART
marketing objectives
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 The Marketing Mix

Product Place
4Ps

Promotion Price
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 Product
 Product offering and product strategy
• package
• warranty
• after-sale service
• brand name
• image
• value

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 Place
 Making the product available where and when
customers want it:
• physical distribution
• storing
• transporting safely

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 Promotion
 To bring about the exchange by informing,
persuading, and reminding
• advertising
• direct marketing
• public relations
• sales promotion
• personal selling
• online marketing

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 Price
 What the buyer must give up in the exchange
• can be an important competitive weapon
• quickest element to change

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Effective Strategic Planning

Continual
attention

Management
Creativity
commitment

Effective
Strategic
Planning

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 Personal Branding Assignment
• Value: 15% of Semester Grade
• Due online by 11:59 pm Tuesday, May 29th

Purpose
• This assignment is designed to provide you with two very
important networking tools that help to communicate your
brand and could very well help you land your next job or
prospective customer.

• The assignment consists of two major parts:

• LinkedIn Profile (10%)
• Business Card (5%)

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1. Create Your LinkedIn Profile (10%). Focus on creating a profile that
validates and showcases what you’ve done so far, and where you’re
heading in the near and far future.
• Name
• Headline
• Location & Industry
• Photo: Really helps to familiarize people with you. However, if you don’t to
include one of your self, use another image or symbol.
• LinkedIn URL: Don’t settle for the one generated by LinkedIn, choose one
that’s easier to type up and remember, e.g. www.linkedin.com/in/jtudos
• Current Position: What you are studying? Include any current work.
• Past Positions: Can be paid or volunteer work.
• Education: Put in your current program and expected graduation date
• Additional Information: certifications, CPR, languages spoken, etc.
• Websites: external links related to your work/interests
• Interests: what you do outside of “formal” work and studying
• Groups: Join at least three (3) groups relevant to your interests.
• Companies: Follow at least 3 organizations relevant to your interests.
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2. Invite your contacts to connect. Make the invitations “personal” by writing
a sentence or two about why you want to connect

3. If you have a portfolio of projects of which you are proud, post them on
LinkedIn. (Make sure you have permission if you worked for an employer!)

4. Ask a teacher or supervisor, for a recommendations. Suggest to them what

to write when you ask them.

5. Once you have at least ten contacts and completed all the above, invite
your professor to connect.

LinkedIn Tips
• Change your update settings to “off” until you are ready to notify your
network. See: http://help.linkedin.com/app/answers/detail/a_id/78
• Create your draft off-line (i.e. Word) then cut and paste.
• Ask a peer to review and make suggestions
• Be sure to personalize the invitations with a short intro
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Business Card (5%) - due online by 11:59 pm Tues May 29th
• So, it’s 2018, why do I need a business card? To succeed, you need
to network face-to-face within all demographics and diverse
networks – and many still exchange business cards!

• Draft your business card with Microsoft Word, Vistaprint, etc.

Include:
– Name
– Title, e.g. Marketing Diploma 2016 (optional)
– Cell number
– e-mail: Make sure it’s professional
– LinkedIn URL
– Extra social media IDs (optional)

Submit a pdf or word doc of your card online with your LinkedIn link.

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 Next Week
• Quiz at beginning of class based on
chapter 3 – SWOT + SMART Marketing Goals
• Review of Chapter 5
• Review of Personal Branding Assignment

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