Marketing Management
Workflows help to deliver superior solutions for marketing strategy &
product marketing applications
Create project & process templates – implement marketing program
Customize the scope & process step
Refine best practices based on previous experience
Co-ordinate product launches among many internal organizations
Collaborate on the creation of strategy documents & plans
Attach reference materials & project specific documents
Deliver the knowledge & tools
Definition of Strategic Planning
It is the managerial process of developing and monitoring & maintaining a
viable fit between the organizations objectives, skills and resources & its
changing opportunities.
The aim of strategic planning is to shape the companies business, products,
services and messages so that they achieve targeted profits & growth.
Why Strategic Planning
In any organizations Strategic Planning is concerned
With the long term interests of the firm.
The growth of organization.
With the environment.
With basket of business the firm should have.
With the capabilities needed to face uncertainties.
3 Main areas of Strategic Planning
1. Corporate level Strategic Planning
2. Business level Strategic Planning
3. Marketing Strategic Planning
Corporate level Strategic Planning
Defining the corporate mission
Defining the Business
Environmental scanning
Internal appraisal of the firm
Setting the corporate objectives
Formulating the corporate strategy
1. Defining the corporate mission
To define the mission, company should consider the questions posed by the
management. – Guru Peter Drucker
The mission statement of an organization directs entire planning & guides
objectives.
Characteristics of Mission statement
a) Statement must focus on limited number of goal
b) Statement should stress the major policies & the values the
company wants to honor.
c) Mission should define the major competitive scopes within which the
company will operate.
2. Defining the Business
Defining the business correctly is the pre requisite for the selecting the right
opportunities and directing the firm to the correct path & also difficult to
set the corporate objectives in a proper manner, for formulating the strategy
itself proper definition of business is required.
Business Definition means – it is an elaboration of the business arena it will play
in. it prescribes the boundaries of the firms business.
The mission statement of an organization directs entire planning & guides
objectives.
Purpose of defining Business.
• Business definition helps the organizations planning by putting it on the
right track.
• It provides the blue print for product market strategy.
Characteristics of a good business definition
• It must be related to the function of the product.
• It must encompass in its fold as many related areas or functions as
possible.
• It must be wide enough to enter into new opportunities.
• It must also be related to basis strengths & weaknesses of the organization.
BCG (Boston consulting group) Model or Growth Share Matrix Model
• The size of the circles depends on the rupee volume of each business.
• Horizontal axis is represented by a relative market share.
• Vertical axis indicates annual growth rate of the market in which the
business operates.
Type Growth Market Share Investment
Stars
(Medium Risk)
High growth
Markets
Market Leader Need lot of investment
Question Mark
(High Risk)
High growth
Markets
Low market share More investment is required
on plant, equipment &
personnel
Cash Cows Falling growth
rate
Unit enjoys the
economies of scale &
higher profit margins.
Not much investment is
required
Dogs Low growth
markets
Weak Market share
Workflows help to deliver superior solutions for marketing strategy &
product marketing applications
Create project & process templates – implement marketing program
Customize the scope & process step
Refine best practices based on previous experience
Co-ordinate product launches among many internal organizations
Collaborate on the creation of strategy documents & plans
Attach reference materials & project specific documents
Deliver the knowledge & tools
Definition of Strategic Planning
It is the managerial process of developing and monitoring & maintaining a
viable fit between the organizations objectives, skills and resources & its
changing opportunities.
The aim of strategic planning is to shape the companies business, products,
services and messages so that they achieve targeted profits & growth.
Why Strategic Planning
In any organizations Strategic Planning is concerned
With the long term interests of the firm.
The growth of organization.
With the environment.
With basket of business the firm should have.
With the capabilities needed to face uncertainties.
3 Main areas of Strategic Planning
1. Corporate level Strategic Planning
2. Business level Strategic Planning
3. Marketing Strategic Planning
Corporate level Strategic Planning
Defining the corporate mission
Defining the Business
Environmental scanning
Internal appraisal of the firm
Setting the corporate objectives
Formulating the corporate strategy
1. Defining the corporate mission
To define the mission, company should consider the questions posed by the
management. – Guru Peter Drucker
The mission statement of an organization directs entire planning & guides
objectives.
Characteristics of Mission statement
a) Statement must focus on limited number of goal
b) Statement should stress the major policies & the values the
company wants to honor.
c) Mission should define the major competitive scopes within which the
company will operate.
2. Defining the Business
Defining the business correctly is the pre requisite for the selecting the right
opportunities and directing the firm to the correct path & also difficult to
set the corporate objectives in a proper manner, for formulating the strategy
itself proper definition of business is required.
Business Definition means – it is an elaboration of the business arena it will play
in. it prescribes the boundaries of the firms business.
The mission statement of an organization directs entire planning & guides
objectives.
Purpose of defining Business.
• Business definition helps the organizations planning by putting it on the
right track.
• It provides the blue print for product market strategy.
Characteristics of a good business definition
• It must be related to the function of the product.
• It must encompass in its fold as many related areas or functions as
possible.
• It must be wide enough to enter into new opportunities.
• It must also be related to basis strengths & weaknesses of the organization.
BCG (Boston consulting group) Model or Growth Share Matrix Model
• The size of the circles depends on the rupee volume of each business.
• Horizontal axis is represented by a relative market share.
• Vertical axis indicates annual growth rate of the market in which the
business operates.
Type Growth Market Share Investment
Stars
(Medium Risk)
High growth
Markets
Market Leader Need lot of investment
Question Mark
(High Risk)
High growth
Markets
Low market share More investment is required
on plant, equipment &
personnel
Cash Cows Falling growth
rate
Unit enjoys the
economies of scale &
higher profit margins.
Not much investment is
required
Dogs Low growth
markets
Weak Market share
1 comment:
The BCG Growth-Share Matrix is an effective analytical tool in product management and brand marketing. I found a lot of information about The BCG Growth-Share Matrix at http://www.coursework4you.co.uk/bcg.htm.
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