Transcript 2 - University of Oklahoma

http://education-portal.com/academy/lesson/types-of-competitive-advantage-cost-product-niche-sustainable-advantages.html
Sustainable Competitive Advantage
Advantage over the competition that is not easily copied and thus can be
maintained over a long period of time.
Location provides
Awareness and
Convenience
Unique Selling
Proposition
http://education-portal.com/academy/lesson/what-is-swot-situation-analysis-in-marketing.html
Efficiency &
Effective Supply
Chain
Retaining Loyal
Customers
Customer Service
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3 Phases of a
Strategic Plan
The Marketing Plan
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Planning
Implementing
• Define mission/objectives • Identify opportunities
• Evaluate situation
• Implementing mkt mix
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Comstock Images/Almay
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Three Phases of a Strategic Plan
Controlling
• Evaluating performance
• Taking corrective
actions
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Step One: Defining the
Mission and/or Vision
Broad description of an organization’s objectives and
the scope of activities it plans to undertake.
MADD mission statement:
MADD strives to stop drunk driving, support
the victims of this violent crime and prevent
underage drinking.
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Step Two: Conduct a Situation Analysis
Using SWOT (internal and external
environmental Analysis)
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Dominos Pizza SWOT
Step Three: Identifying and Evaluating
Opportunities Using STP
Segmentation
Targeting
Positioning
Courtesy The Hertz Corporation
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http://bevideos.mhhe.com/business/video_library/0077450965/swf/Clip_02.html
Step Four: Implement Marketing Mix
and Allocate Resources
Product
Value Creation
Price
Value Capture
Place
Value Delivery
Promotion Value
Communication
http://education-portal.com/academy/lesson/competitive-advantage-the-importance-of-strategic-marketing.html
Step Five: Evaluate Performance
Using Marketing Metrics -Growth Strategies
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Market Penetration
• Existing marketing
mix
• Existing customers
• In what way is a sale a
Market penetration
strategy?
Ryan McVay/Getty Images
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Market Development
• Current product and services
• New markets
What can a company do to
continue to grow in a
difficult retail
environment?
Frederic J Brown/AFP/Getty Images
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Product Development
Current Markets
New product or service
Current target market
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Diversification
New product or service
New market segment
Photo by Joe Scarnici/WireImage/Getty Images
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Step 5: Evaluate Performance Using Marketing Metrics
Boston Consulting Group Portfolio Matrix
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