LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 22, YOU SHOULD BE ABLE TO:
Explain how marketing managers allocate their limited resources.
Describe Porter’s generic business strategies and synergy analysis planning frameworks.
Explain what makes an effective marketing plan.
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Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.LEARNING OBJECTIVES (LO)AFTER READING CHAPTER 22, YOU SHOULD BE ABLE TO:LO 22-1Explain how marketing managers allocate their limited resources.LO 22-3Explain what makes an effective marketing plan.LO 22-2Describe Porter’s generic business strategies and synergy analysis planning frameworks.22-*LEARNING OBJECTIVES (LO)AFTER READING CHAPTER 22, YOU SHOULD BE ABLE TO:LO 22-4Use a time-based agenda and an action item list to conduct a meeting.LO 22-5Describe an organization’s marketing department and the role of a product manager.LO 22-6Explain the use of marketing ROI, metrics, and dashboards in evaluating marketing programs.22-*WARM DELIGHTS FOR TODAY’SON-THE-GO CONSUMERSBreaking the Rules at “Big G”Cereal Industry Facts of LifeWarm DelightsWarm Delights MinisExpenseSuccess RateMarket Decline22-*WARM DELIGHTS FOR TODAY’SON-THE-GO CONSUMERSCreative Initiatives at Big GHealthy SnacksHigh-Fiber, Low Calorie CerealsSingle-Portion EntreesBreakfast DrinkHigh-Protein YogurtFiberOne22-*MARKETING BASICS: DOING WHAT WORKSAND ALLOCATING RESOURCESFINDING AND USING WHAT REALLY WORKSLO 22-1StrategyExecutionCultureMarketspaceSmucker’s22-*MARKETING BASICS: DOING WHAT WORKSAND ALLOCATING RESOURCESUSING SALES RESPONSE FUNCTIONSLO 22-1Sales Response FunctionAn Example of Resource AllocationMaximizing Incremental Revenue Minus Incremental CostYear 1Year 422-*FIGURE 22-1 A sales response function shows the impact on sales at various levels of marketing effort on annual sales revenue 22-*MARKETING BASICS: DOING WHAT WORKSAND ALLOCATING RESOURCESUSING SALES RESPONSE FUNCTIONSLO 22-1Allocating Marketing Resources in PracticeRevenuesShare Points—Need Estimates of:Market ShareCannibalizationGross Margin22-*FIGURE 22-2 The actions in the strategic marketing process are supported and directed by detailed reports, studies, and memos 22-*MARKETING BASICS: DOING WHAT WORKSAND ALLOCATING RESOURCESUSING SALES RESPONSE FUNCTIONSLO 22-1Resource Allocation and the Strategic Marketing ProcessOutput Reports22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSUSING MARKETING METRICS IN PLANNINGLO 22-1Innovation Metrics“If You Don’t Where You’re Going, Any Road Will Get You There.”Input MetricsOutput Metrics22-*FIGURE 22-A Metric ranked No. 1 by respondents from organizations using more than three innovation metrics22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSTHE VARIETY OF MARKETING PLANSLO 22-1Annual Marketing PlansLong-Range Marketing Plans22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING FRAMEWORKSLO 22-2Cost Leadership StrategyPorter’s Generic Business StrategiesDifferentiation StrategyCost Focus StrategyDifferentiation Focus Strategy22-*FIGURE 22-3 Porter’s four generic business strategies involve combinations of competitive scope and costs vs. product differentiation22-*Campbell’s and IKEAWhich generic business strategy does each use?LO 22-222-*General Mills and ChobaniWhich generic business strategy does each use?LO 22-222-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSSYNERGY ANALYSISLO 22-2Synergy AnalysisMarketing SynergyR&D-ManufacturingSynergy22-*MARKETING MATTERSA Test of Your Skills: Where are the Synergies?LO 22-21. Where are the marketing synergies?2. Where are the R&D-manufacturing synergies?3. What is the ideal market-product grid for a merger?22-*FIGURE 22-4 Market-product grids show alternative strategies for a lawnmower manufacturer22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSSYNERGY ANALYSISLO 22-2Market SpecializationMarket-Product ConcentrationProduct SpecializationSelective SpecializationFull Coverage22-*FIGURE 22-5 The ideal merger for Great States to obtain full market-product coverage22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING AND STRATEGY LESSONSLO 22-3Guidelines for an EffectiveMarketing PlanHave Complete and Feasible PlansSet Measurable, Achievable GoalsUse a Base of Facts and AssumptionsUse Simple, but Clear and Specific Plans22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING AND STRATEGY LESSONSLO 22-3Guidelines for an EffectiveMarketing PlanMake Plans Controllable and FlexibleFind the Right Person to ImplementWork Toward Concensus-Building22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING AND STRATEGY LESSONSLO 22-3Marketing Planning & Strategy ProblemsToo Much Time and Effort onCollecting Data and Writing PlansLine Operating Managers Have NoOwnership in Implementing PlansPlans Based on Poor AssumptionsPlanners Lost Sight of Customer Needs22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING AND STRATEGY LESSONSLO 22-3Big G Strategies to Find SynergiesReaching NewGlobal MarketsNew Product Ideasfrom Anyone, Anywhere Around the World22-*THE PLANNING PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING PLANNING AND STRATEGY LESSONSLO 22-3Balancing Value and Values in PlanningValue-Based PlanningValue-Driven StrategiesDisruptive Innovation andLong-Range Marketing Plans22-*MARKETING MATTERSAsk Disruptive Questions toAchieve Disruptive InnovationsLO 22-31. Ask “What Is” Questions2. Ask “What Caused” Questions3. Ask “Why” and “Why Not” Questions4. Ask “What If” Questions22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIS PLANNING OR IMPLEMENTATION THE PROBLEM?LO 22-3The ImplementationThe Plan and StrategyBothPoorExcellent22-*FIGURE 22-B Results of good and bad marketing planning and implementation22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSEMPHASIZE MARKETING IMPLEMENTATIONLO 22-3Move Some Planning Activities From Planners to Line ManagersBuild Trust and Autonomy among Managers and EmployeesMake the Planners Responsible for Carrying Out the Plans22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-3Take Action and Avoid Paralysis by Analysis“Do It, Fix It,Try It” Approach“Bias for Action”F-35 Lightning II22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-3Surface Problems with Open CommunicationGet Help—Don’t Keep Problems to Yourself Seek Solutions from Anyone Surface Problems Immediately22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-3Communicate Goals and the Means to Achieve ThemProgram Champion Toyota Stresses Genchi GenbutsuHave a Responsible Program Champion Willing to Act22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-3Reward Success but Don’t Punish Failure“Failure Leads to the Next Great Thing”22-*MARKETING MATTERSFrom Dragons and Cows toClash of Clans and Hay DayLO 22-322-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-4Schedule Precise Tasks, Responsibilities, and DeadlinesTime-Based Agenda22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSIMPROVING MARKETING PROGRAM IMPLEMENTATIONLO 22-4Schedule Precise Tasks, Responsibilities, and DeadlinesAction Item ListProgram SchedulesGantt Chart 22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSORGANIZING FOR MARKETINGLO 22-5The Evolving Role of the CMOUnderstand Global Consumer SegmentsUnderstand Multichannel MarketingHas High Job Turnover22-*FIGURE 22-6 The organization of a strategic business unit in a typical consumer packaged goods firm shows two product/brand groups22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSORGANIZING FOR MARKETINGLO 22-5Line vs. Staff and Divisional GroupingsLine PositionsStaff Positions22-*THE IMPLEMENTATION PHASE OFTHE STRATEGIC MARKETING PROCESSORGANIZING FOR MARKETINGLO 22-5Line vs. Staff and Divisional GroupingsGeographicalGroupingsProduct LineGroupingsFunctionalGroupingsMarket-BasedGroupingsMatrixOrganizationCategoryManagerRole of the Product/Brand Manager22-*FIGURE 22-C Entities in which the product or brand group works with22-*THE EVALUATION PHASE OFTHE STRATEGIC MARKETING PROCESSTHE MARKETING EVALUATION PROCESSLO 22-6Identifying Deviations From GoalsActual Results Exceed GoalsActual Results Fall Short of GoalsActing on Deviations From GoalsManagement by Exception22-*FIGURE 22-7 The evaluation phase of the strategic marketing process ties results and actions to goals using metrics and dashboards22-*THE EVALUATION PHASE OFTHE STRATEGIC MARKETING PROCESSTHE MARKETING EVALUATION PROCESSLO 22-6Numbers Can HideWhat’s Really Happening“Hiring a Milkshake” and Digging Beneath the NumbersWith Services, MeasuringResults That Lead to ActionsBecomes More Intangible22-*THE EVALUATION PHASE OFTHE STRATEGIC MARKETING PROCESSMARKETING ROI, METRICS, AND DASHBOARDSLO 22-6Marketing ROIMarketing MetricsMarketing Dashboards22-*THE EVALUATION PHASE OFTHE STRATEGIC MARKETING PROCESSMETRICS AND DASHBOARDS AT GENERAL MILLSLO 22-6The Distribution Challengefor Warm Delights MinisThe Findings for Warm Delights MinisThe Actions for Warm Delights Minis22-*FIGURE 22-8 The marketing dashboard for the distribution channels for General Mills’ Warm Delights Minis22-*FIGURE 22-8A The marketing dashboard for General Mills’ Warm Delights Minis: Monthly Dollar Sales by Channel22-*FIGURE 22-8B The marketing dashboard for General Mills’ Warm Delights Minis: Channel Stores Carrying Warm Delights Minis22-*FIGURE 22-8C The marketing dashboard for General Mills’ Warm Delights Minis: November/December Sales by Channel22-*FIGURE 22-8D The marketing dashboard for General Mills’ Warm Delights Minis: Average Number of Flavors Carried by Channel22-*GENERAL MILLS WARM DELIGHTS: INDULGENT, DELICIOUS, AND GOOEY!VIDEO CASE 2222-*