This chapter discusses developing marketing strategies and plans. It covers characteristics of successful marketing companies, including selecting target markets with advantages, being customer-focused, having good cross-department collaboration, and incentivizing long-term loyalty. It also discusses omni-channel marketing, creating customer value through value exploration, creation, and delivery. Marketing plans are described as the central instrument for directing marketing efforts at both strategic and tactical levels. Large organizations are said to develop marketing plans at the company, strategic business unit, and brand levels.

1. BMGT 411: Chapter 2
Developing Marketing Strategies and Plans

2. BMGT 411: Chapter 2
✤ Characteristics of a Great Marketing Company:
✤ Selects superior target markets in which it
enjoys advantages
✤ All employees are customer focused
✤ Good working relationship across departments
✤ Incentives designed to lead to the right
behaviors (Long Term Loyalty)
✤ Continuously build and tracks customer loyalty

3. Marketing Leadership: Standing Apart from the
Competition and Connecting with Customers

4. Marketing Leadership: Standing Apart from the
Competition and Connecting with Customers

5. Your Great Marketing Companies
• Who are they?
• What do they excel in marketing
leadership matrix?
• Where are they on par with
competitors on the index?

6. Marketing in an Omni-Channel Environment
Need
Recognition
Identify
Products
Needs can be
impulse needs or
created needs!
!
Customers enter the
market !
• A customer’s
phone breaks!
!
Marketers can create
this need through
brand marketing!
• Launch of a new
phone!
!
Marketers focus on
creating trigger
events - to create
this!
!
!
!
!
Get Info
About
Products
Evaluate
Products
Evoked= all brand and
products come to mind
!
Consideration= the
ones you consider to
buy
!
Omni-Channel
Marketing Becoming
crucial at this stage
Purchase
Product
Use Product
Post
Purchase
Evaluation
If Perceived Value >
Price a customer is
more likely to
purchase
!
Internal and External
Price References
Used
Customer Experience
key in this stage.
!
Satisfaction=
!
Perceived Performance
- Expectations
!
Satisfaction = Repeat
Purchases

7. BGMT 411: Chapter 2
✤ Creating Customer Value
✤ Value Exploration: How a company identifies new value opportunities
✤ Ex. Netflix Streaming Video
✤ Value Creation: How a company efficiently creates more promising new value
offering
✤ Ford Sync System
✤ Value Delivery: How a company uses it’s capabilities and infrastructure to
deliver new offerings more efficiently

9. BGMT 411: Chapter 2
✤ Marketing Plan: The central instrument for directing and coordinating the
marketing effort, operating at both strategic and tactical levels
✤ Strategic Marketing Plan: Often developed during annual plan, includes
research, position, and strategies for growth - PowerPoint
✤ Tactical Marketing Plan: Outlines specific marketing tactics and timing

10. Tactical Marketing Plan
Example

11. BMGT 411: Chapter 2
✤ Contents of a Strategic Marketing Plan (Note for Project)
✤ Executive Summary
✤ Situational Analysis - Including SWOT, Sales Trends, Internal Data, what is
going on today
✤ Marketing Strategy - Mission, Marketing Objective, Financial Objectives
✤ Financial Projections
✤ Tactical Plan Overview
✤ Measurement

12. Strategic Business
Units

13. BMGT 411: Chapter 2
✤ Marketing Plan Development: Large Organizations
✤ Begins at the Company Level - Profit drivers identified and Focus Strategic
Business Units Identified
✤ Marketing Plans Allocated by SBU
✤ SBU Distributes Funds by Brand
✤ Each Brand Develops Marketing Plans to Meet Brand, SBU, and Company
Goals

14. Assessing Growth
Opportunitie$

15. BMGT 411: Chapter 2
✤ SWOT Analysis: The overall evaluation of a companies strength’s, weaknesses,
opportunities, and threats
✤ Internal
✤ Strengths: What is your key strength’s? What should you focus on?
✤ Weaknesses: What are some area’s that could improve? Could you make
customers believe these are strengths?
✤ External
✤ Opportunities: Changes in the economy, population growth, competitor
closing
✤ Threats: Changes in the environment that may risk your products growth

16. BMGT 411: Chapter 2
✤ Michael Korrs
✤ Whole Foods
✤ Apple
✤ Ford
✤ Target
✤ Chipotle
✤ Coors Light
✤ Point Park University

17. BMGT 411: Chapter 2
✤ How to measure marketing plan performance:
1. Sales Analysis: STS Sales, YOY Sales, YTD Sales
2. Market Share Analysis: Increases in share vs key competition based on
Nielsen data or other 3rd party data
3. Marketing Expense to Sales Analysis: Often used in declining brands to
maintain sales with a lower marketing expense
4. Financial Analysis: Profit Margin, ROMI or Return on Marketing
Investment

18. BMGT 411: Chapter
2
What do you think will be the key
metrics to measure success for
the AltheteTrax Project?