Strategic Marketing Plan Framework-Adapted
description
Transcript of Strategic Marketing Plan Framework-Adapted
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TADCO MEMRB & Nielsen
TADCO
TADCO
Strategic Marketing Planning
Theoretical Frame work to be used for Developing TADCO Strategic Marketing Plan (2016-2020)
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Plan Deliverables & Enablers
DELIVERABLES:1. Define key target markets in order of priority2. Describe (quantitatively and qualitatively) the value
that is required by each of key target markets3. In each of these key target markets, describe how
your organisation creates this value?ENABLERS:• The relevant senior people in the company must
understand and support the above three points• All of the relevant functions in the company must be
organised in a way that is supportive of delivering the value required by the customer
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The contents of a strategic marketing plan (T+3) (less than 20 pages)
• The purpose statement
• Financial summary• Market overview• SWOT analysis
• Portfolio summary
• Assumptions
• Objectives and strategies
• Budget
© Professor Malcolm McDonald
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The output of the marketing planning process Strategic marketing plan contents
Marketing theory(Structures, frameworks, models)
Mission statement
Financial summary
Issue management
B.C.G. MatrixDirectional policy matrix
McDonald PRODUCTIVITY MATRIXBlake mouton matrix
ForecastingBudgeting
Measurement and review
Marketing planning and marketing theory (structures, frameworks, models etc.)© Copyright, professor Malcolm h.B. McDonald 1987
Downside risk assessment
Market segmentation studiesMarket researchResponse elasticities
Porter matrixAnsoff matrixBcg matrixDirectional policy matrixGap analysis
Key success factors matrixMarket researchMarket segmentation studies
Market overview
Marketing Strategies
Marketing Objectives
Opportunities Threats
Portfolio summary
Assumptions
Resource Requirements
StrengthsWeaknesses
Issues to beAddressed
Market structureMarket trendsKey market segmentsGap analysis
Marketing auditMarket researchMarket segmentation studiesGap analysisProduct life cycle analysisDiffusion of innovationAnsoff matrixForecastingMarket research
ProductPricePromotionPlace
(4 x 4 ps)(Positioning/branding)
Strategic focusProduct mixProduct developmentProduct deletionMarket extensionTarget customer groups
(By product)(By segment)(Overall)(By product)(By segment)(Overall)(By product)(By segment)(Overall)
(By product)(By segment)(Overall)
The marketingPlanning process
Phase 1
Goal setting
Phase 2
Situation review
Phase 3StrategyFormulation
Phase 4ResourceAllocation
And monitoring
Financial theory /Structure
Profitability analysis by products / segmentsComparative analysis of competitor productsExperience curves and cost structures
Cash flows and risk evaluationSensitivity analysis
Integrated financial planning Limiting resource analysis
Sensitivity analysisDecision treesProbability theory
Budgeting and financialplanningZero base budgets
Performance targets / ratiosCost, price, volume (CPV)analysisMarginal and absorption costingActivity base costing
Competitor analysisIndustry/sector analysisRisk evaluationRatio analysis, valuation studiesCost of capitalNPV analysisProject evaluationLife cycle costing
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The Contents of a Strategic Marketing Plan
• Mission or Purpose Statement• Financial Summary
Revenue
Profit
t.0 T+1 T+2 T+5
Products
Mar
kets
Existing New
Ne
wE
xist
ing
1 2
3 4
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Key (revenue and profit growth)
• from productivity• by product for market for existing products from existing markets• from new products in existing markets• from existing products in new markets• from new products in new markets
Plus a few words of commentary
Market Overview/SummaryMarket definitionMarket map showing volume/revenue flows from supplier through toend user, with major decision points highlighted Where appropriate, provide a future market mapInclude commentary/conclusions/implications for the companyAt major decision points, include key segments
The Contents of a Strategic Marketing Plan. Continued
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SWOT Analyses on Key Segments • include pictorial representations of the SWOTs, such as bar charts • highlight major conclusions/issues to be addressed
Portfolio Summaries of the SWOTs • include Directional Policy Matrix (DPM) summaries of:-
- the attractiveness of the segments over the next 3-5 years- the current relative competitive position of your company in
each segment- the planned competitive position of each segment over the
next 3-5 years
Marketing Objectives and Strategies for the next 3-5 years • include objectives (volume, value, market share, profit, as appropriate) for the next 3-5 years for each segment as represented by the planned position of each circle on the DPM • include strategies (the 4XPs) with costs for each objective
Consolidated Budget for the next 3-5 years • this will be a consolidation of all the revenues, costs and profits for the next 3-5 years and should accord with the financial summary provided earlier
The Contents of a Strategic Marketing Plan. Continued
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Definemarkets/segments
Evaluate market/segment attractiveness
Choose markets/segmen
ts
Define objectives
Estimate expected results
Value required
Value delivered
Value received
How value delivered/
communicated
Define markets & understand value
Understand value required
Understand competitor value
positioning
Define price/value proposition
Define marketing strategies
Determine value proposition
Outbound logistics
Operations
Service
Design/implement marketing communication
programmes
Design program Negotiate/ tailor
Initiate dialogue Commit
Exchange information Exchange value
Monitor marcom
programmes
Deliver product/service
Exchange Information
Inbound logistics
R&D
Deliver value
Monitor value
Analysis
Marketing
Plan(s)
Customer
information
Plan
Effectiveness
Communicate value
Overview of marketing map
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Analytical Models to be used for Developing the strategic Marketing Plan
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SBU Mission Statement
A brief statement should be made to cover the following points:
1. Role or contribution of the SBU: e.g. main profit generator
2. Definition of the Business: e.g. the need it satisfied or benefit provided (should not be too specific or too general)
3. Distinctive Competence: A characteristic that applies only to the unit and shared by competitors)
4. Indication for the future: The principal position that SBU strive to move to in future.
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Types of mission statements
•Type I ‘Motherhood’ - usually found inside annual reports. Designed to ‘stroke’ shareholders, otherwise no practical use
•Type II The real thing. A meaningful statement, unique to the organization concerned, which ‘impacts’ on the behavior of the executives at all levels
•Type III This is a ‘purpose’ statement ( or lower level mission statement). It is appropriate at the state/branch/or departmental level of the organization.
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SBU Vision Statement
A brief statement showing the big goal the SBU is striving to achieve during the strategy period
It could be divided in as et of Objectives covering the following:•
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Strategic marketing planning exercise - SWOT analysis
1
2
3
4
5
You Comp A Comp B Comp C Comp D
Total 100
1
2
3
4
5
1. SEGMENT DESCRIPTIONIt should be a specific part of the business and should be very important to the organisation
2. CRITICAL SUCCESS FACTORSIn other words, how do customers choose?
3. WEIGHTING(How importantis each of theseCSFs? Scoreout of 100)
1
2
3
4
5
THREATS
5. OPPORTUNITIES / THREATSWhat are the few things outside your direct control that have had, and will have, an impact on this part of your business?
6. KEY ISSUES THAT NEED TO BE ADDRESSEDWhat are the really key issues from the SWOT that need to be addressed?
OP
PO
RT
UN
ITIE
S
4. STRENGTHS / WEAKNESSES ANALYSISHow would your customers score you and each of your main competitors out of 10 on each of the CSFs?Multiply the score by the weight.
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MarketAttractiveness
KEYPresentposition
Forecastposition in3 years
High Low
Low
High
Invest/Build
Maintain
Manage for Cash
?
ResearchExecMBA
C.S.G.M.Ps
DistanceEducation/
CMR
MANDAS
DirectorsSeminars
C.S.
Full-TimeMBA
Our competitive position /business strength
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Market attractiveness evaluation
This form illustrates a quantitative approach to evaluating market attractiveness. Each factor is score multiplied by the percentage weighting and totaled for the overall score. In this example, an overall score of 7 out of 10 places this mark in the highly attractive category.
1.
2.
3.
4.
5.
6.
Market Size (£ millions)
Volume Growth (Units)
Competitive Intensity
Industry Profitability
Vulnerability
Cyclicality
10³£250
³10%
Low
> 15%
Low
Low
5
£51.250
5.9%
Medium
10.15%
Medium
Medium
0
< £50
< 5%
High
< 10%
High
High
Factor Scoring Criteria
Score
5
10
6
8
3
2.5
Weighting
15
25
10
25
15
10
Total
Ranking
0.75
2.5
0.6
2.0
0.9
0.25
7.0
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Programme guidelines suggested for different positioning on the directional policy matrix
Maintain or increasedominance
Differentiation - lineexpansion
Lead - Aggressivepricing for share
Aggressivemarketing
Broadendistribution
Tight control - go forscale economies
Expand, invest (organicacquisition, joint venture)
Expand - invest
Upgrade managementin key functional areas
Fund growth
Reduce in process -extend credit
Maintain or slightlymilk for earnings
Prune for less successfuldifferentiate for segments
Stabilise prices / raise
Limit
Hold widedistribution pattern
Emphasise cost reductionviz. variable costs
Maximise capacityutilisation
Focus on specificprojects
Maintain, reward efficiency,tighten organisation
Limit fixed investment
Tighten Credit- reduceaccounts receivableincrease inventory turn
Maintain selectivity-segment
Emphasise productquality
Maintain or raise
Maintain selectively
Segment
Tight control
Increase productivitye.g. specialisation
Invest selectively
Allocate key managers
Invest selectively
Reduce
Forego share for profit
Aggressively prune
Raise
Minimise
Gradually withdrawdistribution
Aggressively reducefixed & variable
Free up capacity
None
Cut back organisation
Minimise & divestopportunistically
Aggressively reduce
Invest selectivelyin share
Differentiation - lineexpansion
Aggressive - price forshare
Aggressivemarketing
Limited coverage
Tight - but not at expenseof entrepreneurship
Invest
Invest
Invest
Fund growth
Invest
Products
Market Share
Price
Distribution
Promotion
Cost Control
R & D
Production
Personnel
Investment
Working Capital
Investfor growth
Maintain marketposition, manage
for earnings SelectiveManagefor cash
Opportunisticdevelopment
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Market/segment selection criteria
Business StrengthsBusiness Strengths
Market / segmentattractiveness
Market / segmentattractiveness
- Size- Growth- Profitability- Competitive intensity
- Product Range- Product Efficacy- Service Quality (Including distribution)- Price- Associated Services (e.g. Technical advice)- Reputation / Image
High Low
Low
High
Maintain/manage forsustainedearnings
Invest /Grow
Manage forCash /
Withdraw
SelectivelyInvest
© Professor Malcolm McDonald
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Strategic planning exercise (gap analysis)1 revenue
3 . G A P A N A LY SIS
4 . G A P A N A LY SIS
A N S O F F P R O D U C T /M A R K E T (M A R K E T P E N E T R AT IO N )
A N S O F F P R O D U C T /M A R K E T M AT R IX (N E W P R O D U C T S / N E W M A R K E T S )
(A ) L is t p r in c ip l e p ro d u c ts o n th e h o r iz o n ta l a x is a n d p r in c ip le m a rk e t s o n th e v e r tic a l ax is . In e a c h s m a lle r s q u a re w rit e in c u rre n t s a le s a n d a c h i ev a b le s a l es v a lu e d u r in g th e p l an n in g p e r io d .
(B ) N e x t , p lo t th e m ar k e t p e n e t ra t io n p o s iti o n , p o in t C . T h is p o in t w il l b e t h e a d d i tio n o f a ll th e v a lu e s in th e r ig h t h a n d h a lf o f th e s m a ll b o x e s i n th e A n s o ff M a tr ix . I f th e re is a g ap , p ro ce e d to 4 b e lo w . P le as e n o te , re v e n u e f ro m (1 ) (2 ) (3 ) a n d (4 ) f ro m th e p ro d u c tiv ity b o x s h o u ld b e d e d u c te d f r o m th e m a rk e t p e n e tra tio n to ta l b e fo re p lo tt in g p o in tC .
N e x t, li s t th e v a lu e o f a n y n e w p ro d u c ts y o u m ig h t d e v e lo p w h ic h y o u m ig h t s e ll to e x i st in g m a rk e t s . A lte rn a tiv e ly, o r a s w e l l a s , i f n ec e s s a ry, lis t th e v a lu e o f a n y e x is ti n g p ro d u c t s th a t y o u m ig h t s e ll to n e w m a rk e ts . P lo t th e to ta l v a lu e o f th e s e o n th e G a p A n a ly si s G ra p h a b o v e , p o in t D . I f th e re i s s t ill a g a p p ro c e ed to 5 .
5 . G A P A N A LY SIS(D ivers ification )
6 . G A P A N A LY SIS (C apita l U tilisa tion)
F in a l ly, lis t th e v a lu e o f a n y n e w p ro d u c t s y o u m ig h t d e v e lo p f o r n e w m a rk e ts u n til p o in t E is re a c h e d . (S t ep s 3 , 4 a n d 5 re p re se n t a s a le s g ro w th f o c u s ) .
I f n o n e o f th is g iv e s th e re q u i red r e tu rn o n in v es tm en t c o n s id e r c h an g in g th e a s s e t b as e . T h is c o u ld b e(A ) A cq u is iti o n(B ) J o in t Ve n tu re(S te p 6 re p r es e n ts a c a p i ta l u til is a tio n fo c u s )
1 . O B JE C T IV E(A ) S ta r t b y p lo tt in g th e s a l e s p o s it io n y o u w is h to a c h ie v e a t th e e n d o f th e p l an n in g p e r io d , p o in t E .(B ) N e x t p lo t th e fo re c a s t re v e n u e p o s iti o n , p o in t A
2 . G A P A N A LY SIS (P rod uctiv ity )A re th e r e a n y a c tio n s y o u c an ta k e to c lo s e th e g a p u n d e r th e fo llo w in g h e a d in g s ? P lo t th e to ta l v a lu e o f t h e s e o n th e G a p A n a ly si s G ra p h o n th e le f t, p o in t B . (T h e s e re p re s e n t c a s h an d m a rg in fo cu s ) . N o w p ro c e ed to 3 b e lo w .
M arke t 1
E (O bjec tive)
D (N ew Produc ts/M arke ts )
C (M arke t Pene tra tion)
B (Productiv ity )
A (Forecast)
B ette r P roduct M ix (1 )
B ette r Sa les C alls (4 )
C harge For D elive ries
B ette r C ustom er M ix (2 )
Increase P rice
M ore Sales C alls (3 )
R educe D iscounts
Tota l
R evenueProductiv ity (N B : N ot a llfac to rs are m utually exc lusive)
R ev /Vol.
t + 0 t + 1 t + 2 t + 3 (budge t)
M arke t 1
M arke t 10
P roduct 1
Product 1
P roduct 1
0
Product 2
P roduct 2
Product 1
1
Product 3
Product 3
P roduct 1
2
E tc .E tc.
E tc.
M arke t 3M arke t 3
M arke t 12
M arke t 2 M arke t 2
M arke t 11
Ec t.
A :\m m 5\s pex e rc1 .cd r
Ect.
Ec t.
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Strategic planning exercise (gap analysis)2 profit
3 . G A P A N A LY SIS
4 . G A P A N A LY SIS
A N S O F F P R O D U C T /M A R K E T (M A R K E T P E N E T R AT IO N )
A N S O F F P R O D U C T /M A R K E T M AT R IX (N E W P R O D U C T S / N E W M A R K E T S )
(A ) L is t p r in c ip l e p ro d u c ts o n th e h o r iz o n ta l a x is a n d p r in c ip le m a rk e t s o n th e v e r tic a l ax is . In e a c h s m a lle r s q u a re w rit e in c u rre n t p ro f it a n d a c h ie v a b le p ro f i t v a lu e d u r in g t h e p la n n in g p e r io d .
(B ) N e x t , p lo t th e m ar k e t p e n e t ra t io n p o s iti o n , p o in t C . T h is p o in t w il l b e t h e a d d i tio n o f a ll th e v a lu e s in th e r ig h t h a n d h a lf o f th e s m a ll b o x e s i n th e A n s o ff M a tr ix . I f th e re is a g ap , p ro ce e d to 4 b e lo w .
N e x t, li s t th e v a lu e o f a n y n e w p ro d u c ts y o u m ig h t d e v e lo p w h ic h y o u m ig h t s e ll to e x i st in g m a rk e t s . A lte rn a tiv e ly, o r a s w e l l a s , i f n ec e s s a ry, lis t th e v a lu e o f a n y e x is ti n g p ro d u c t s th a t y o u m ig h t s e ll to n e w m a rk e ts . P lo t th e to ta l v a lu e o f th e s e o n th e G a p A n a ly si s G ra p h a b o v e , p o in t D . I f th e re i s s t ill a g a p p ro c e ed to 5 .
5 . G A P A N A LY SIS(D ivers ifica tion )
6 . G A P A N A LY SIS (C apita l U tilisa tion)
F in a l ly, lis t t h e p ro f it v a lu e o f a n y n e w p ro d u c ts y o u m ig h t d ev e lo p fo r n e w m a rk e t s u n t il p o in t E is re a c h ed . (S te p s 3 , 4 a n d 5 re p r es e n t a s a le s g r o w th fo c u s) .
I f n o n e o f th is g iv e s th e re q u i red r e tu rn o n in v es tm en t c o n s id e r c h an g in g th e a s s e t b as e . T h is c o u ld b e(A ) A cq u is iti o n(B ) J o in t Ve n tu re(S te p 6 re p r es e n ts a c a p i ta l u til is a tio n fo c u s )
1 . O B JE C T IV E(A ) S ta r t b y p lo t tin g th e p ro f it p o s i tio n y o u w is h t o a ch ie v e a t th e e n d o f th e p l an n in g p e r io d , p o in t E .(B ) N e x t p lo t th e fo re c a s t p ro f i t p o s i tio n , p o in t A
2 . G A P A N A LY SIS (P rod uctiv ity )A re th e r e a n y a c tio n s y o u c an ta k e to c lo s e th e g a p u n d e r th e fo llo w in g h e a d in g s ? P lo t t h e to ta l p ro f it v a lu e o f th e s e o n th e G a p A n a ly si s G ra p h o n th e le f t, p o in t B . (T h e s e re p re s e n t c a s h an d m a rg in fo cu s ) . N o w p ro c e ed to 3 b e lo w .
M arke t 1
E (O bjec tive)
D (N ew Produc ts/M arke ts )
C (M arke t Pene tra tion)
B (P roductiv ity )
A (Forecast)
B ette r P roduct M ix
B ette r Sa les C alls
C harge For D elive ries
B ette r C ustom er M ix
Increase P rice
R educe D eb tor D ays
M ore Sales C alls
R educe D iscounts
C ost R eduction
O thers (S pec ify )
Tota l
P ro fitP roductiv ity (N B : N ot a llfac to rs are m utually exc lusive)
R ev /Vol.
t + 0 t + 1 t + 2 t + 3 (budge t)
M arke t 1
M arke t 10
P roduct 1
Product 1
P roduct 1
0
Product 2
P roduct 2
Product 1
1
Product 3
Product 3
P roduct 1
2
E tc .E tc.
E tc.
M arke t 3M arke t 3
M arke t 12
M arke t 2 M arke t 2
M arke t 11
Ec t.Ec t.
Ec t.
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Marketing Strategies for achieving Plan Objectives
Profit improvement
Productivity improvement Sales growth
Productdevelopment
Marketdevelopment
Marketpenetration
Changeasset base
Existingassets
Costreduction
Improveasset
utilisation(experience
andefficiency)
Increaseprice /reduce
discounts
Improveproduct /sales mix(margins)
Newmarkets
Existingmarkets
Convertnon-users
Newsegments
Takecompetitors’customers
Increaseusage
Growth focusCash and margin focus
Investment• Innovation• Diversification
Divestment• Redevelopment of capital resources
Capital Utilisation focus
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The route to Sustainable Competitive Advantage (SCA)
Differentiation HighPrice
HighVolume
Sales Revenue
Low BusinessRisk
Low FinancialRisk
PositiveNPV SCA
Economiesof Scale
LearningCurve
High CashFlows
GearingInterest CoverWorking Capital RatioOperational Leverage
Financial
OperationsLowerCosts
Source: From Sri Srikanthan, Cranfield School of Management
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There are only three ways to create value
• Reduce costs
• Buy profitable (or sell unprofitable) business
• Create long-term demand from consumers
• Done to death
• Limited opportunities
• The only sustainable future
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Five Genuine Business Differentiators
• We take the long view– We are not tied to short term targets , we are committed to our
client’s long life value.• Our structure
– Our business structure and processes are designed to deliver the top quality, service, and speed expected by our clients . We further makes all our capabilities and technical readily accessible by our clients.
• Contracts & on time delivery– We engage with our clients using flexible contracts that meets
client’s long term timeframes.• Customer Satisfaction
– We manage our customers relations in away that eliminate complaints and ensure satisfaction.
• Products:– We deliver products that meets client’s specifications and
guarantees delivery of the desired the value.–
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Mass media
- objectives
- message strategy
- media strategy
Direct mail
- objectives
- strategy
Telephone
- objectives
- strategy
Personal contact
- objectives
- strategy
Electronic
- objectives
- strategy
PlaceDistribution
Strategy
e.g test drive,demonstration,5 senses
Integrated marketingcommunications plan
Channel/Medium Choice
Other
- PR
- POS
- etc
Define marketing strategy for promotion
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Quality and share both drive profitability
3827
20
25 2013
2114
7
High 60% 25% LowLow
High
40%
-1%
Relative Market Share
Relative ProductQuality
ROI (%)
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Strategy Period proforma income Statement
Performance ( Mn SAR)
Base year 2015
2016 2017 2018 2019 2020
Sales Revenue
COGS
GM
G&A Exp
Mkting Exp
R&D
Net Profit
NPM %
ROA %
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Potato Market Growth Rate During Strategy Period
Performance ( Mn SAR)
Base year 2015
2016 2017 2018 2019 2020
Total Market Growth %
• Potato Sales %• Market Share %
• Customer Retention%• New Customers%• Dissatisfied Customers%
Relative Product Quality+/-Relative Service Quality+/-
R. New Products Sales+/-
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Onion Market Growth Rate During Strategy Period
Performance ( Mn SAR)
Base year 2015
2016 2017 2018 2019 2020
Total Market Growth %
• Onion Sales %• Market Share %
• Customer Retention%• New Customers%• Dissatisfied Customers%
Relative Product Quality+/-Relative Service Quality+/-
R. New Products Sales+/-
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Product X Market Growth Rate During Strategy Period
Performance ( Mn SAR)
Base year 2015
2016 2017 2018 2019 2020
Total Market Growth %
• Onion Sales %• Market Share %
• Customer Retention%• New Customers%• Dissatisfied Customers%
Relative Product Quality+/-Relative Service Quality+/-
R. New Products Sales+/-
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How TADCO Should Respond to Market & Customer’s Needs?
Product/Service
Customers
Processes
ProfessionalMarketing People
(UnderstandingMarket Needs)
(Creativity)
(Core Value) (Efficiency)
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Key Elements of World Class Marketing
1. A deep understanding of the market place2. Correct needs-based segmentation and
prioritisation3. Segment-specific propositions4. Powerful differentiation, positioning and branding5. Effective strategic marketing planning processes6. Long-term integrated marketing strategies7. A deep understanding of the needs of major
customers8. Market/customer-driven organisation structures9. Professionally-qualified marketing people10. Institutionalised creativity and innovation
Source: Professor Malcolm McDonald ©
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Are you getting these essential deliverables from your strategic marketing plan?
Score out of 10Market structure and segmentation• Is there a clear and unambiguous definition of the market we are
interested in serving?• Is it clearly mapped, showing product/service flows, volumes/values in
total, our shares and critical conclusions for our organisation?• Are the segments clearly described and quantified? These must be
groups of customers with the same or similar needs, not sectors.• Are the real needs of these segments properly quantified with the relative
importance of these needs clearly identified?Differentiation• Is there a clear and quantified analysis of how well our company satisfies
these needs compared to competitors?• Are the opportunities and threats clearly identified by segment?
© Professor Malcolm McDonald
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Detailed checklist of essential deliverablesfrom a strategic marketing plan
Score out of 10Scope· Are all the segments classified according to their relative potential for growth
in profits over the next three years and according to our company’s relative competitive position in each?
· Are the objectives consistent with their position in the portfolio? (volume, value, market share, profit)
· Are the strategies (including products, services and solutions) consistent with the objectives?
· Are the measurement metrics proposed relevant to the objectives and strategies?
· Are the key issues for action for all departments clearly spelled out as key issues to be addressed?
Value capture· Do the objectives and strategies add up to the profit goals required by our
company?· Does the budget follow on logically and clearly from all the above,
or is it merely an add on?
© Professor Malcolm McDonald
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