McGrawHill/Irwin

Copyright2010byTheMcGrawHillCompanies,Inc.Allrightsreserved.

DEVELOPING MARKETING STRATEGIES

AND A MARKETING PLAN
LEARNING OBJECTIVES

How does a firm set up a marketing plan?

How are SWOT analyses used to analyze the

marketing situation?

How does a firm choose what group(s) of people to

pursue with its marketing efforts?

How does the implementation of the marketing mix

increase customer value?

How can firms grow their businesses?

2-2

Dunkin Donuts versus Starbucks

Dunkin Donuts Commer

cial
2-3

Sustainable Competitive
Advantage

2-4

Which of the following is likely to be source

of a sustainable competitive advantage?
A.

Supply Chain Efficiency

B.

Brand Name

C.

Customer Satisfaction

D.

Patented Technology

E.

All Of The Above

2-5

Customer Excellence

Retaining loyal
customers
Customer
service

Virgin Atlantic Website

2-6

Operational Excellence

Efficient
operations

Excellent
supply
chain
manageme
nt.

2-7

New Balance
Can America Compete?

2-8

Product Excellence

2-9

Locational Excellence

How does Rachael

Ray as a
spokesperson tie
into locational
excellence?

2-10

Check Yourself

1.

2.

What are the various components

of a marketing strategy?
List the four macro strategies that
can help a firm develop a
sustainable competitive advantage.

2-11

The Marketing Plan

2-12

Vince works as a waiter at many business functions. GRIPO insurance

company has just had their annual meeting and left behind copies of their
marketing plan. Vince opens a copy of the plan. Which of the following would
Vince NOT expect to find in GRIPOs marketing plan?

A.

A situation analysis

B.

Opportunities for the firm

C.

Perceived threats to the firm

D.

Marketing objectives

E.

Sales representatives rsums

2-13

Three Phases of a Strategic Plan

Planning

Implementi
ng

Controlling

2-14

Step One: Defining the Mission

and/or Vision

MADD mission statement:

MADD strives to stop drunk driving,
support the victims of this violent crime
and prevent underage drinking.

2-15

MADD Promotion

2-16

Step Two: Conduct a Situation

Analysis Using SWOT

2-17

When conducting a SWOT analysis, a company

will assess all of the following EXCEPT:
A.

Strengths

B.

Threats

C.

Weaknesses

D.

Opportunities

E.

Strategies

2-18

Step Three: Identifying and

Evaluating Opportunities Using STP

2-19

Disney:
Segmentation, Targeting, Positioning
Magic Kingdom Pleasure Island

Families w/younger kids

Singles and Couples

Epcot

Adults, families w/older kids

2-20

Power of the Internet

Building Brand
evangelists online

Real Beauty campaign

Dove evolution viral

video

Dove Real Beauty Comm

ercial
2-21

Step Four: Implement Marketing

Mix and Allocate Resources

2-22

Price and Value Capture

2-23

Place and Value Delivery

The product must

be readily
accessible

Why is this retailer

growing?

2-24

Promotion and Value

Communication

Television
Radio
Magazines
Sales force
New Media

2-25

Step Five: Evaluate Performance

and Make Adjustments

P&G Websit
e
2-26

Brian is reviewing the performance of his franchised clothing store. Being

a franchise he has access to comparative data from other stores. Brian will
likely look at all of the following types of data EXCEPT:

A.

Sales

B.

Gross margin

C.

Number of customers

D.

Coupon redemption

E.

Regulatory

2-27

Check Yourself

1.

2.

3.

What are the five steps in creating

a marketing plan?
What tool helps a marketer
conduct a situation analysis?
What is STP?

2-28

Growth Strategies

2-29

Which of the following is NOT one of the four major

growth strategies marketers typically pursue?
A.

Market penetration

B.

Market development

C.

Customer detention

D.

Diversification

E.

Product development

2-30

Market Penetration

Existing marketing mix

Existing customers

In what way is a sale a

Market penetration
strategy?

Cartier Webs
ite
2-31

Market Development Strategy

What can a company do
to continue to grow in
a difficult retail
environment?

2-32

Product Development
Disney Fairy Tale
Weddings

2-33

Game On Clash of the Video

Games

2-34

Diversification
FedEx acquires
Kinkos

2-35

Check Yourself

1.

2.

3.

What are the four growth

strategies?
What type of strategy is growing
the business from existing
customers?
Which strategy is the riskiest?

2-36

Scenario Planning

2-37

Check Yourself

1.

2.

Identify the steps of the scenario

planning process
How is scenario planning used in a
firm?

2-38

Glossary
Customer excellence is achieved when a
firm develops value-based strategies for
retaining loyal customers and provides
outstanding customer service.

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2-39

Glossary
A diversification strategy introduces a
new product or service to a market
segment that currently is not served.

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2-40

Glossary
Locational excellence occurs by having a
good physical location and Internet
presence.

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2-41

Glossary
A market development strategy
employs the existing marketing offering
to reach new market segments, whether
domestic or international.

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2-42

Glossary
A market penetration strategy employs
the existing marketing mix and focuses
the firms efforts on existing customers.

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2-43

Glossary
A marketing plan is a written document
composed of an analysis of the current
marketing situation, opportunities and
threats for the firm, marketing objectives
and strategy specified in terms of the four
Ps, action programs, and projected or
pro-forma income (and other financial)
statements.
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2-44

Glossary
A mission statement is a broad
description of a firms objectives and the
scope of activities it plans to undertake.

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2-45

Glossary
Operational excellence is achieved
through efficient operations and excellent
supply chain and human resource
management.

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2-46

Glossary
A product development strategy offers
a new product or service to a firms
current target market.

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2-47

Glossary
Product excellence occurs by having
products with high perceived value and
effective branding and positioning.

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2-48

Glossary
Scenario planning integrates information
obtained as part of the situation and
opportunity analysis steps of the
marketing plan to better understand the
potential performance outcomes
associated with different marketing mix
applications.

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2-49

Glossary
A situation analysis uses a SWOT
analysis that assesses both the internal
environment with regard to its Strengths
and Weaknesses and the external
environment in terms of its Opportunities
and Threats.

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2-50

Glossary
STP stands for segmentation, targeting,
and positioning, and is used to identify
and evaluate opportunities for increasing
sales and profits.

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2-51

Glossary
A sustainable competitive advantage is
an advantage over the competition that is
not easily copied, and thus can be
maintained over a long period of time.

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2-52