Chapter 15 Marketing Strategy Implementation and Control

Transcription

1 Chapter 15 Marketing Strategy Implementation and Control The marketing plan Implementing the plan Strategic evaluation and control Performance criteria and information needs Performance assessment and action 1 MAR608 The Marketing Plan How the marketing plan guides implementation Contents of the marketing plan Managing the planning process 2 MAR608 1

2 Marketing Strategy Overview MARKET TARGET(S) OBJECTIVES PROGRAM POSITIONING STRATEGY 3 MAR608 Marketing Planning Relationships MARKETING STRATEGY Annual Marketing Plan Implementation Evaluation Revision i Annual Marketing Plan 4 MAR608 2

3 Contents of the Marketing Plan I Introduction II Marketing Position III The Product IV Marketplace Overview V The Competition VI Marketing Data VII Strategy by Market Segment VIII Advertising IX Public Relations X Summary 5 MAR608 Dimensions of Marketing Planning Analytical Dimension Techniques Procedures Systems Planning Models Marketing Planning Behavioral Dimension Managerial perceptions Participation Strategic assumptions Consistency Organizational Dimension Structure Information Culture 6 MAR608 3

4 Implementing the Plan Implementation process Improving implementation Internal marketing A comprehensive approach to improving implementation Internal strategy-structure Fit Developing a market orientation The role of external organization 7 MAR608 The Implementation Activities to be implemented How implementation will be done Responsibility for implementation Time and location of implementation 8 MAR608 4

5 Internal Marketing Strategy Plan Internal Marketing Program External Marketing Program Internal Marketing External Marketing Program: Program Targeted at key Targeted at key groups in the customers, segments company, alliance and niches, and other partner companies, external influencers and other influencers 9 MAR608 Comprehensive Approach to Improving Implementation Financial Measures Learning and Innovation Measures BALANCED SCORECARD MANAGEMENT CONTROL SYSTEM Customer Measures Internal Business Measures 10 MAR608 5

6 Factors Affecting the Implementation of Business and Marketing Strategies External environment Corporate strategy SBU s strategy Corporate-SBU relationship SBU s organization structure; interfunctional coordination processes R & D Manufacturing Finance Marketing policies and strategies SBU s performance Marketing plans for individual product-market entries Source: Harper W. Boyd, Jr., and Orville C. Walker, Jr., Marketing Management (Burr Ridge, IL: Richard D. Irwin, 1990), MAR608 Strategic Evaluation and Control Customer relationship management (CRM) Overview of evaluation activities The strategic marketing audit 12 MAR608 6

7 Data Mining and CRM Victoria s Secret - Data mining to improve inventory decisions Music company - People over 62 buy rap music Wal-Mart - Data mining so each store adapts merchandizing to local preferences AT&T - CRM data to identify profitability of individual customer and adapt service levels 13 MAR608 Evaluation Activities Solve Specific Problems Find New Opportunities or Avoid Threats Keep Performance on Target 14 MAR608 7

8 Strategic Marketing Evaluation and Control Conduct strategic marketing audit Select performance criteria, measures, and metrics Obtain and analyze information Assess performance and take necessary action 15 MAR608 Strategic Marketing Audit Corporate Mission and Objectives Business Composition and Strategies Marketing Strategy (for each planning unit) Marketing Program Activities Implementation and Management 16 MAR608 8

9 Performance Criteria and Information Needs Selecting performance criteria i and measures Marketing metrics Obtain and analyze information 17 MAR608 Marketing Metrics External market metrics Financial measures Brand equity Sales value/volume Marketing investment Profit Relative satisfaction Commitment Relative perceived quality Relative price Availability Internal Market metrics Innovation health and employee alignment and commitment Strategy Culture Outcomes Source: Tim Ambler, Marketing and the Bottom-Line, 2 nd ed., Hemel Hempstead: Prentice-Hall, MAR608 9

10 Performance Assessment and Action / Interpreting Performance measurement results Opportunities and performance gaps Determining normal and abnormal variability Deciding what actions to take Review Question What are the dimensions of the marketing planning process and what are the steps to implement the plan? 19 MAR608 10