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Marketing (Fach) / Marketing Planning - Analysis (Lektion)

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• paradigm shift marketing theory transactional -> relationship approach relationship approach: mutual, repeated gainbuild and retain long-term relationshipssatisfying loyal customers
• marketing definition = the process of identifying and satisfying customers needs in a competitive superior manner in order to achieve the organization's objectives cross-functional - no standalone function!
• 4 main reasons why marketing planning has become so important 1. + global competition (less barriers, enhanced communication) 2. multinational conglomerates grow - global competition in domestic markets 3. some economies foster entrepreneurial and free market values 4. continual technological rise - new sources of competition
• marketing planning vs marketing plan marketing planning =is the structured process: - Situational analysis- development of objectives, strategy, programmes- measuring marketing plan =is the outcome of the marketing planning- generally for 1 Year and should be ready a few month before for good implementation- most common: annual revision with a three-year focus- alter plan due to the measurements!
• benefits of the marketing planning process why to have a marketing plan (4) Consistency:marketing planning has to be consistent with overall objectives and with former planningsthus it prevents the tendency to put all effort in the "here and now" Responsibility:Clear responsibilities, clear objectives, clear measurements - collectively predetermined criteria Communication:Those implementing also know the overall objectives and context of each of the detailed activities Commitment:the plan is agreed by those who implement it and those who offer the resourcesthis stimulates a group commitment and better decision-making
• marketing planning need marketing planning guides need: Clearly defined business mission guides:R&DNPD (new product development)sales forceachievable sales targetsdevelop a sustainable competitive advantage
• Stages developing a marketing plan (8) success?? YES NO? what to do? 1. Mission, corporate goals, and objectivesDefine business in terms of the benefits the company provides to its customers, rather that what it produces 2. Assessing the current internal and external situationshould be matched against each other 3. SWOT analysisIdentifying key issues that drive performance 4. Segmentation, targeting, and positioningdividing the market into segments 5. Strategic marketing planportfolio analysis of market attractiveness and competitive advantage- > strategic marketing plan and performance objectives 6. Tactical marketing plandevelop marketing mix on the base of marketing strategy and objectives 7. Marketing budgetappropriate resource allocation due to objectives and strategy 8. Implementation and performance evaluationmarket share, revenue, profitability YES: prepare for next year's marketing planNO: performance gap - adjust marketing plan!!!!
• Step 1: Mission (Corporate Goals, Objectives) typical questions definiton 4 characteristics typical mission questions:- What is your business?- Who is your customer?- What do consumers value?- What should your business be?alert: continuously raise and answer those questions! Definition:broadly defined, enduring statement of purpose that distinguishes a company from others of its typepurpose = clear business definition and clear sense of direction  - clear mission statement focuses on what customers by not what the company is selling- more marketing-orientated- create 'corporate identity'- goals and specified objectives derived from the mission  4 characteristics for an effective mission statement:- based on a solid comprehension of the business and its vision- based upon a deep personal conviction and motivation of the founder or leader  Google = organize all the worlds information and make it accessible- strategic intent of winning = create a sense of common and shared purpose - be enabling. Mission statement = framework for managers in which they decide their actions
• Step 2 (develop marketing plan) Assessing the current internal and external situation three typical questions 3 shaping forces Basic questions- where are we now? - how did we get here?- where are we heading to? froces that shape:- market attractiveness- competitive postition- present performance basis for competitiveness = internal resources, capabilities and competencies these should be matched in SWOT-analysis (step 3)
• Step 3 (developing marketing plan) = SWOT analysis 4 actions aim problems - = evaluate strategic position of the company- strength & weaknesses --- match--- opportunities & threats           (current)                                                 (future)- seek 'strategic window'  where key market-requirements and particular competencies fit together- firms can do this for each SBU- "know yourself and your company" - strength and weaknesses Definitions:strength = competencies and competitivenessweakness = weak to reap opportunities and/or less effective or efficient than competitors- > all 4 P's, personnel, finance, etc.opportunities = a favorable external factor or trend that the company may be able to exploit to its advantagethreats = hostile external aspects that could injure the organization suggested actions (4) - match strength and opportunities- convert weaknesses into strength- convert threats to opportunities- minimize, if not avoid, weaknesses and threats AIM:Isolate what will be important to the future of the organizationwhat does subsequent marketing planning need to address? Problems:compile lists rather than thinkno clear prioritization: eg = weak opportunities balance strong threats
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• Step 4 - marketing planning segmentation targeting positioning segmentation = form groups targeting = choose segment(s) positioning = formulate a competitively distinctive place for your product in customer's minds
• step 5 strategic marketing plan levels of objectives marketing objectives measurements example strategic marketing plan = describes how marketing objectives will be achievedwith the basic marketing mix tool = the 4P's product, place, price, promotion different levels of objectives- overall company's objectives- marketing objectives - objectives for pricing distribution advertising etc- marketing objectives = match between product and market - what product/service will be in what position on what marketmeasure =sales volume, money volume, money value, market share, percentage of penetration of distribution outlets (mainly based on financial measurements)example:'to enter the market X with the product Y and capture 15% of the market by value within the first three years'
• the 4 P's The right timing is essential and should appear in any plan!Doing the right thing at the wrong time is effectless 1. Products - good and services combination the enterprise offers- developing, repositioning, relaunching, scrapping old ones- adding new features and benefits- balancing product portfolios- changing design or packaging 2. price - amount of money customer has to pay to obtain product- skimming or penetrating- different prices for different segments- how to match competitive pricing 3. promotion - communicate benefits and persuade target customers- specify advertising platform and media- decide public relations brief- organizing a sales force 4. Place - make the product available- choosing the channel- deciding levels of customer service
• step 6 tactical marketing plan put the strategic marketing plan into effect - overall strategies -> specific tactics- more specific tactical marketing strategies are needed for each key performance issue- detailed plans and programmes  explains explicitly what  programmes and activities will take place over a period of time  usually a year plan may cover all of the 4P's, but the focus varies with the focal companya product-oriented company will focus plans for the 4 P's around each of its products
• Step 7: marketing plan Marketing Budget transitional step between planning and implementing project the cost of every activity and hand out one comprehensive document powerful tool: Relationship between desired results and available toolshelps managers to make adequate choices
• Step 8 marketing planning why when 5 steps - determine effectiveness of implemented plan by metrics!- compare projections against performance daily, weekly, monthly, quarterly, yearly -> where to make adjustments to keep or get on the right path ANALYZE YOUR IMPLEMENTATION1. set objectives2. set standards for measurement3. measure 4. diagnose 5. take corrective actions if necessary
• 3 main marketing planning approaches in terms of involvement of the whole company 1. Top-down developmenttop management sets goals and plansquick decision-making, slow implementation (staff needs to learn about the plan) 2. bottom-up planningvarious units create their own goals that then will be approved by top management+ creativity but problems for coordination 3. goals-down-plans-up planningmost common approach (at least in sophisticated companies)various units create their plans to meet the set goals
• assessing the internal marketing situation - overview internal strength and weaknesses macro external forces (4) important views (2) major sources of competitive advantage (2) internal mission and visionwho are we and where are we heading to?clear mission = invisible guiding hand for employees internal strength and weaknesses = resources, company or brand image, employee capabilities, available technology internal vs external the 6 macro-environmental forces = social, demographic, economic, technological, political and legal, competitive matching strength and weaknesses - two important views:- market orientation view MOV- resource based view RBV market-driven vs market-driving major sources of competitive advantage:value and costdrivers!
• Market Orientation View (MOV) Definition (3) From a customers viewpoint = organization-wide generation, dissemination, and responsiveness to market intelligence 1. DEVELOPING (generation)one or more departments engaged in activities geared toward developing and understanding the customers current and future needs and the affecting factors 2. SHARING (dissemination)sharing this understanding across departments 3. ACTING (responsiveness to market intelligence)various departments engaging in activities designed to meet customer needs
• Resourced Based View (RBV) - emphasis on historically developed resources and capabilities for competitive positioning - seeks long-term fit between requirements of the market and the organization's abilities - resource profile must continuously be developed - to continue to compete (not static!) - opportunities are seized where the organization has an existing or potential vantage - complex blend of all stakeholders expectation:  shareholders, owners, managers, employees, customers, suppliers  MOV - customers come over all
• RBV stages roots of competition A - E (chart) important resources A. superior performance- customer equity B. sustainable competitive advantage- excellent value to customers- 3+1 Tests C. core competencies D. capabilities                              individual      group       corporatestrategic functionaloperationalstrategic:      p. 27!!!functional:operational:individual:group:corporate: E. resources tangible - land- access to financial markets- plants and machines- databases intangible - organizational (culture, vision, and values)- informational (customer and competitor intelligence)- relational ( strategic alliances, relationships with customers)- intellectual ( expertise, formulas and discoveries) important resources: technical resources (quick development) financial standing (flexbility, agility) managerial skills (experience, good decisions, motivation) organization (the very structure: No conflicts, No responsobility without authority, long-term perspective information system - up to the minute communication etc.
• types of resources and capabilities (5) technical resources financial standing managerial skills organization - the very structure (flexible etc) information systems (up-to-the minute, etc.)
• tangible and intangible resources tangible = physical or financial value intangible = two categoriesa) assets (what the firm has)copyrights, held-in-secret-technology = intellectual propertiesb) skills (what the firm does)
• capabilities (RBV) 3x3                            individual          group          companystrategic functional operational strategic = strategy (development and implementation)dominant logic or guiding, ability to learn, ability of managers of implementing strategy functional = execution of functional tasksmarketing capabilities, financial management capabilities, operations management capabilities operational = undertaking individual line tasks operating machinery, application of information system, completion of order processing individual = analyze critically and assess a given situation (all employees!) group = work together constructively corporate-level = eg internalize learning - critical info is not held by individuals
• core competencies definition 3 tests and one extra future changes further tips Definition = underlying skills, technologies, and competencies that can be combined in different ways to create the next generation of products and services 3 tests suggested by Prahalad and Hamel (1990) 1. difficult for competitors to copy 2. potential access to a wide variety of markets 3. significant contribution to customer satisfaction and benefit + extra test (if now competence is not a core competence)combined with other competencies -> essential uniquenesswhat would happen if we did not have the competence? Prahalad and Hamel: identify, cultivate and exploit core competencies! Future - drives major corporate changes- emerge of a network of strategic alliances - each partner brings core competencies- demeger and sale of non-core activities and brands- organizational changes away from SBUs to a new strategic architecture Further tips:- activities are not competencies  eg quality products or marketing strength are attributes, not competencies  hondas core competence are small engines- avoid laundry lists - just a hand full competencies!- achieve management consensus- leverage core competencies- share core competencies with other organizations - collaboration
• Market-driven vs. market-driving market-driven = MOV (market orientation view) - passivemarket structure and behavior are specifiedlearn understand respond- adaptation to customers- Predict future technological needs and customer preferences- respond to market structure- permanent benchmarking- duplication market-driving = RBV (resourced based view) - proactivemarket structure and behavior can be formedchanging the composition and/or roles of players in a market- induce change and alterations in market and consumers- be at the cutting edge of customer needs- shape, pioneer, forecast market development- identify sustainable internal and external competencies
• Major sources of competitive advantage (2) the competitive triangle Value and Costs = 'perceived value' (compared to price)higher perceived value and/or lower relative costs'value' should be seen relative to the costs value for customers: direct and indirectdirect = create value for the customer as soon as they are employes high technology, better service, meaningful brand differentiation, ready availabilityindirect = effective cost control systems - only add value if applied to the price charged to the customer value of resource must be assessed relative to the resources of competitorsit must serve to distinguish the product see: the competitive triangle „The more value customers perceive in a market offering relative to competing offerings, and the lower the costs in producing the value relative to competing producers, the higher the relative performance of the focal company A, compared to competitor B. Hence firms producing offerings with a higher perceived value and/or lower relative costs than competing firms are said to have a competitive advantage in that market. This can be illustrated by the ‘competitive triangle’. There is no one-dimensional measure of competitive advantage, and perceived value (compared to the price) and relative costs have to be assessed simultaneously. Given this two-dimensional nature of competitive advantage it will not always be clear which of the two companies will have a competitive advantage over the other. While the relationship between perceived value, relative costs and performance is rather intricate, we can retain the basic statement that these two variables are the cornerstone of competitive advantage.“
• Cost drivers (for products and services) (6) 1. economies of scalemore efficiently or differently in volumecheaper and better quality (less waste), raw materials etc. 2. learning and experience curveincreased efficiency+ experience - costsBoston Consulting Group - surveyeach time experience doubled - (-)15-20% of costs 3. outsourcingeg labor to third-world countries 4. linkages and Interrelationshipsexternal: Just in Time manufacturing and supplyingsafe money - but higher switching costsinternal: Interrelations with other SBUs - share experiences + economies of scale 5. timing 6. location and governmental factors
• Cost drivers (for products and services) (6) 1. economies of scalemore efficiently or differently in volumecheaper and better quality (less waste), raw materials etc. 2. learning and experience curveincreased efficiency+ experience - costsBoston Consulting Group - surveyeach time experience doubled - (-)15-20% of costs 3. outsourcingeg labor to third-world countries 4. linkages and Interrelationshipsexternal: Just in Time manufacturing and supplyingsafe money - but higher switching costsinternal: Interrelations with other SBUs - share experiences + economies of scale 5. timingfirst movers often profit from prime location, cheap material, technological leadershipsecond movers often profit from exploiting newer technology  6. location and governmental factorslocation: distribution, assembly, material & energy costsgovernment regulations (constraints or grants and interest-free loans)
• Value drivers (competitive advantage) (8) 1. product differentiation (more features)core product, expected offer, augmented offer, potential offer 2. product quality (longer lifetime, superior design)quality & service!quality = after-purchase experience 3. service= purchase experienceadded value 4. Packaging 5. brandingimpossible to copyreducing the risk of the unfamiliareverything is changing so fast = brand provides perceived orientation assets 6. price differentiation (lower prices, better credit terms)the more differentiation - the greater the chances for premium pricing 7. creating customer relationshipscreating customer value and building profitable customer relationshipsuse JIT create switching costs 8. time-based competitiongaining advantage by being faster than the competitionlow cost variety and fast response time (eg Japanese cars in US market)= customer focused strategy faster in:- responding to market changes- developing new products- distribution- service
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• packaging 5 main functions each can be used as a basis for differentiation 1. protect to esure quality 2. store the product appropiately - extend shelf life 3. facilitate use - applicator etc 4. create an image of the product - design, illustration etc 5. promote through eye catching, unusual colors shapes etc
• product differentiation 4 levels 1. core offer =different way of satisfying the same need usually by a change in technology or innovation 2. expected offer =additional benefits normally provided with the core offerwarranties, packages, service 3. augmented offer =not normally provided features 4. potential offer =anything that could be added in the future highly competitive market = continuous migration of  product between the levels
• assessing the external marketing situation - overall 3 levels 1. focal company (internal) 2. industry level/value net (external)relations with players in the industry value net 3. macro level (external)PEST-Analysis + analyzing buying behaviorB2B and B2C
• PEST Anlaysis traditionally 4 main macro forces 1. Political and legal factors 2. economic factors 3. Socio-cultural factors 4. technological factors
• political, legal and economic factors (pest analysis) political = laws, government agencies, pressure groups - influence or limitate - today more economic & political independence in trade! - economy growth cycles - political tool to higher and lower interest rates  -> psychological  effect  eg housing market - direct (income) and indirect (purchases) taxation  shifts demand (Tobacco and alcohol) - employment cycles - political leaning (right left middle) politics will have a huge impact - predict changes!!!
• political, legal and economic factors (pest analysis) (6) politics will have a huge impact - predict changes!!! today more economic & political independence in trade! pressure groupspolitical = laws, government agencies, pressure groups - influence or limitate economy growth cycles political tool: higher and lower interest rates-> psychological  effect (eg housing market) taxationdirect (income) and indirect (purchases) taxationshifts demand (Tobacco and alcohol) employment cycles political leaning (right left middle) EURO expendation (+ countries) - affects of legislation on EU countries+ competition for good market - less restrains for competitors (free market)inconsistency across Europe eg tobacco and alcoholself-regulation within European law borders
• Socio-demographic and cultural environment (pest analysis) 3 key factors demographic factors= human population in terms of size, density, location, age, gender, race, occupation, etc. Future markets: the grey generationby 2050 nearly 1/3 of total population - they own about 3/4 of the financial assets!!but 95% of the advertisement is for under 50s! Generation X youth markethostile to traditional advertisement and conventional product offers multi-ethnic europe is becoming increasingly multi-ethnic social factors increasingly demanding customers environmental pressure (greenpeace) very important for company reputation! example - Barby and the age compression cultural factors basic values, preferences, perceptions, behavior high context vs. low context cultures Hofstede's IBM survey - 4 dimensions in which cultures differ
• Hofstedes 4 (+1) cultural dimensions IBM survey 1970 - 40 countries learning these for each country HR professionals can understand different cultures and act appropiately 1. Power distanceIs inequity accepted? 2. Uncertainty Avoidancetend not to break rules, even if necessary 3. Individualismown interests ahead of others? 4. Masculinity (goal orientation)aggressive and materialistic 5. Long-term orientationfuture present or past orientation? Also very important: Religion impact!!!foundation of peoples understanding of the worldReligion affects: perceptions of development, quality of life, appropriate standards of exchange, and competition Example - McDonald's entering the French market! mega success
• Technological factors (Pest analysis) most dramatical force growing and developing exponentially microprocessor -> post-industrial age now new: little, implanted transmitters to track (linked to smartphones)
• Relationship to players in the industry value net (4) typically established with: suppliers customers complimentors/partners competitors all differently handled!
• Relationships with suppliers 3 major strategic issues 3 major strategic issues make or buy an item? in-house or outsourceoutsourcing has increased dramatically development of an appropriate relationshiplean vs agile supply techniques managing of supplier base (size and relationships between suppliers)low involvement vs high involvement approach
• relationships with suppliers high-involvement low-involvement low-involvement playoff suppliers against each other change to cheaper/better supplier loose ties high-involvement + efficiency & effectiveness by deep and trustful relationships reduce long-term costs reduce lead times in product development  reduce total costs in R&D
• high involvement approach supplier relationship 2 main supply techniques lean supply technique  eliminate waste in all areas of the business (shop floor to manufacturing process) eg Toyota agile supply techniques reducing the time it takes for a supply chain to deliver a good service to the end customer Aimed to supply chains that serve volatile demand patterns eg Smart Car -> both show that collaboration can be effective in reducing costs and increasing product funtionality
• two key factors against high-involvement relationship with suppliers 4 power structures supplier-buyer 2 Key factors makes not sense in all areasassets have to be higher than costs of such a relationship not all supplier want to collaborate 4 Power structures: buyer dominance interdependence independence supplier dominance
• two key factors against high-involvement relationship with suppliers 4 power structures supplier-buyer 2 Key factors makes not sense in all areasassets have to be higher than costs of such a relationship not all supplier want to collaborate 4 Power structures: buyer dominance interdependence independence supplier dominance Most companies nowadays treat their suppliers as partnerseg Wallmart
• relationships with suppliers high-involvement low-involvement low-involvement playoff suppliers against each other change to cheaper/better supplier loose ties = arm's length management (only necessary info for order and delivery) high-involvement + efficiency & effectiveness by deep and trustful relationships reduce long-term costs reduce lead times in product development  reduce total costs in R&D = collaborative management
• relationship with customers 2 approaches relationship approach exchange relationship= buyer and seller are partnersmutual orientation towards each other mutual dependency and interaction network approach relationships are interconnected markets can be analyzed and described as one or more networks marketing should start at the relationship leveltreat customers as valued partners to establish their needs and develop their loyalty
• Relationships with Partners/Complementors why example each partner has a strategic resource that the other needs eg one produces the other markets the productcompany A produces for company Bcompany B helps company A enter a new market
• Relationships with competitors 5 types of interaction competition type depends on symmetry between competitors 5 Types: conflict - destroying the opposing competition - goal orientated, even if it destroys competitor co-existence - no notice collusion - avoid active competition cooperation - strong alliances resource exchange alliances between some competitors can make competitor even more competitive example Zara 20 seasons a year!!
• small and big companies competition big companies: more money small companies:less administrationlower costsmore flexible different strategical needs!!!

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