Developing Marketing Strategies and Plans Zou Deqiang, Ph. D School of Management, Fudan University March 5. 2008
1 Developing Marketing Strategies and Plans Zou Deqiang, Ph.D. School of Management, Fudan University March 5, 2008
Something to Mention Online resource: ftp: //ftp5 nofeehost com >Username: coopetition, password: 781106 What's the function of the textbook? > Not a toolbox, hardly definite solution Only consensus, non-controversial opinions Our Teaching Assistant Mr Howard ho Exchange student from Hong Kong chinese Univ >email:hayishei@gmail.com O Copy rights reserved, Zou Deqiang
2 2 © Copy rights reserved, Zou Deqiang Something to Mention • Online resource: ftp://ftp5.nofeehost.com ¾Username: coopetition, password: 781106 • What’s the function of the textbook? ¾Not a toolbox, hardly definite solution ¾Only consensus, non-controversial opinions • Our Teaching Assistant ¾ Mr. Howard Ho ¾Exchange student from Hong Kong Chinese Univ. ¾Email: hayishei@gmail.com
Chapter Questions How does marketing affect customer value? How is strategic planning carried out at different levels of the organization? What does a marketing plan include? O Copy rights reserved, Zou Deqiang
3 3 © Copy rights reserved, Zou Deqiang Chapter Questions • How does marketing affect customer value? • How is strategic planning carried out at different levels of the organization? • What does a marketing plan include?
Marketing Strategy Consumer Marketing Behavior Strategy Quantitative Model O Copy rights reserved, Zou Deqiang
4 4 © Copy rights reserved, Zou Deqiang Marketing & Strategy Quantitative Model Consumer Behavior Marketing Strategy
Why Strategy and Plan? Many marketing students fail to show their strategic perspectives with marketing background To make things worse, textbooks often discuss the general use of a marketing plan, but dont explain exactly how to develop an effective plan-yet thats what student marketers really need Wood, Marian Burk(2005), The Marketing Plan Handbook, 2nd ed. Prentice hall Stapleton, John and Michael Thomas(1998), How to Prepare a Marketing Plan, 4th ed, Gower O Copy rights reserved, Zou Deqiang
5 5 © Copy rights reserved, Zou Deqiang Why Strategy and Plan? • Many marketing students fail to show their strategic perspectives with marketing background • To make things worse, textbooks often discuss the general use of a marketing plan, but don’t explain exactly how to develop an effective plan— yet that’s what student marketers really need ¾ Wood, Marian Burk (2005), The Marketing Plan Handbook, 2nd ed., Prentice Hall. ¾ Stapleton, John and Michael Thomas (1998), How to Prepare a Marketing Plan, 4th ed., Gower
Marketing Planning s a structured process leads to a coordinated set of marketing decisions/actions covers a specific period for a specific organization O Copy rights reserved, Zou Deqiang
6 6 © Copy rights reserved, Zou Deqiang • is a structured process • leads to a coordinated set of marketing decisions/actions • covers a specific period for a specific organization Marketing Planning
Marketing plan The internal document that outlines the marketplace situation and describes the marketing strategies/programmes that will support the achievement of business and organizational goals over a specified period 7 O Copy rights reserved, Zou Deqiang
7 7 © Copy rights reserved, Zou Deqiang • The internal document that outlines the marketplace situation and describes the marketing strategies/programmes that will support the achievement of business and organizational goals over a specified period. Marketing plan
Three Levels of Business Planning Strategic planning by top-level corporate management Functional planning by top functional-level management such as the chief marketing officer Operational planning by supervisory managers 8 O Copy rights reserved, Zou Deqiang
8 8 © Copy rights reserved, Zou Deqiang Three Levels of Business Planning • Strategic planning by top-level corporate management • Functional planning by top functional-level management such as the chief marketing officer • Operational planning by supervisory managers
Strategic Planning Managerial decision process that matches firms resources capabilities to its marketing opportunities for long-term growth Top management defines firm's purpose and objectives Example: increase firm's total revenues by 20% over next five years 9 O Copy rights reserved, Zou Deqiang
9 9 © Copy rights reserved, Zou Deqiang Strategic Planning • Managerial decision process that matches firm’s resources & capabilities to its marketing opportunities for long-term growth ¾Top management defines firm’s purpose and objectives ¾Example: increase firm’s total revenues by 20% over next five years
Functional (Tactical) Planning Accomplished by various functional areas of firm Typically includes a broad 5-year plan to support strategic plan and a detailed annual plan Example: to gain 40%of a particular market with three new products during coming year O Copy rights reserved, Zou Deqiang
10 10 © Copy rights reserved, Zou Deqiang Functional (Tactical) Planning • Accomplished by various functional areas of firm • Typically includes a broad 5-year plan to support strategic plan and a detailed annual plan ¾ Example: to gain 40% of a particular market with three new products during coming year