Appunti di Advanced strategic marketing

Basic market structure: introduce the marketing plan

Understanding key concepts

 What is a sub-brand?

 What is a marketing plan? How different from a strategic plan?

 What are the two primary parts of the marketing plan?

 What are the four parts of a situation analysis?

 What is the marketing program?

 Does the marketing plan include a budget?

 Can you change the marketing outline? Why or why not?

 Should you use full sentences and paragraphs?

 Should you divide up the work and paste together?

 Do you use a Works Cited and citations?

 What are the 5 key rules to avoid plagiarism?

 What is the pledge to write on each report?

Category analysis

 What is the first piece of research you will do?

 What is the second?

 What 4 websites are helpful?

 Where do exhibits go in the report? Are they important?

 What is the maximum length of the report?

 Who should proofread the report?

 What are the 3 parts and what does each discuss?

Exercise 1: Strategic vs. tactical marketing (4 C’s, STP, 4 P’s)

• Market size, growth, share, competitive roles
• Product Life Cycle
• Value delivery network
• Competitive advantage
• Category concentration

Strategy vs. tactics and the marketing plan (p. 9-10)

In your own words: What is strategic marketing? What is tactical marketing? Which one comes first? Why?

4 P’s: strategic or tactical? Another name for 4 P’s?

4 C’s: strategic or tactical? Another name for 4 C’s?

What does STP stand for?

Tactical vs. strategic: an overview

Most people think of marketing as the Marketing Mix. But, these are just the marketing tactics we use. We think of these as the Four ?. These tactics are based on lots of research, analysis, and critical, creative thinking. This marketing “homework” is the essential job of strategic marketing. Strategic marketing is mostly thinking, while tactical marketing is more the doing part of marketing (specific actions taken).

Strategic marketing specifically

Strategic marketing includes two parts. The first is the Four C’s, which together make up the situation analysis for a company’s brand. This is an assessment of the Category the brand competes in, its Competitors, its Customers, and its own strengths, weaknesses, opportunities, and threats as a Company (SWOT):

• Category Analysis
• Competitive Analysis
• Customer Analysis
• Company Analysis (SWOT)

The second part of strategic marketing is the process of STP, which builds on everything learned in the situation analysis. STP stands for Segmentation, Targeting, and Positioning:

• Segmenting or dividing the market into distinct groups of customers
• Targeting or choosing one or more groups of customers that your brand will serve
• Positioning your brand with a product identity that will appeal to your chosen customer target in some unique way

The marketing plan

Marketers go through the steps of first doing a situation analysis and then STP and, based on this strategic marketing homework, develop a marketing mix of specific tactics to implement in the marketplace for their brand. These can be combined into a “roadmap” that describes how a good marketer does marketing. It also can be used as a brief outline for developing a marketing plan for a brand. See page 10 in CMB.

Part of developing a strategy or executing a tactic?

Situation Analysis, STP or Marketing Mix?

• Research size and growth trend in Mintel to determine future sales potential. Research recent innovations on competitor
• Use a coupon to get consumers to try your new product.
• Analyze TV commercials of competitors to understand differences among brands.
• Shoot and run a new TV commercial for your product.
• Research government regulations to determine how much oversight there is.
• Hire a Washington lobbyist to advocate for your company’s best interests (PR).
• Use a store audit to research and analyze unit pricing for the major competitors.
• Give a slotting fee to retailers to get them to slot your product in their stores.
• Research competitor prices and decide if your product should be high or low priced.
• Choose a price point of $1.99 per pound for your product.
• Test and analyze competitor products to see which ones are superior and how.
• Make changes in your product like removing a preservative, adding real meat.
• Research consumers and decide which ones your product should target.
• Think about how your new product can stand out from its competitors—how it will be different—and decide on a specific identity for the product.

Basic marketing math & competitive roles (p.11-32)

Formula for market size = ? Can be the size of a segment, a category or overall industry. Measured in units or dollars

Formula for future sales (future market size)?

Formula for market share = ? Can be brand share or company share of a category or industry. Measured in units or dollars. Always expressed as a percent. Change in market share is always expressed as a percentage point change (pp)

Formula for market growth or decline = ? Measured in units or dollars. Always expressed as percent. Can be used to forecast future sales.

Formulas

• Current Market Size = Sales of All Brands of All Companies
• Future Sales = Current Sales + (CS x growth rate)
• Brand Share = Brand Sales / Total Market Sales X 100
• Change in share is simple subtraction and is percentage point change, NOT a percent change
• Market Growth Rate = Change / Start X 100

Competitive roles: Leader/Challenger/Follower/Nicher (p. 12)

• The Market Leader is #1 in market share. In cola, this is which company?
• The Market Challenger is the company that is trying to challenge the leader through innovation and spending. Their market share is usually close to the leader, but not necessarily. In cola, this is which company?
• The Market Follower is the “lazy one” of the industry or category. This comp