Marketing Planning and Practice
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Week5TutorialStrategicmodels1.pptxMarketing Planning and Practice UMKDQD-15-2 Week 5 Tutorial
Presented by
MPP Teaching Team
w/c 8 March 2021
Plan for Today’s Tutorial
From objectives to strategy
Strategic models
Segmentation, targeting and positioning
Opportunity for any questions arising from your research to date
The Assignment Brief
Objectives to Strategy
Objective: To increase sales
Strategy:
Market Penetration – more marketing activity
Market Development – target a new market segment (demographic) or geographic area
Product Development – introduce a new/modified product
Diversification - horizontal
Objectives to Strategy
IKEA is a good example of Market Development – same product to different markets.
Apple is a good example of Product Development by releasing new iPhones each year.
Diversification
Related diversification (horizontal)– related to company’s existing product
Unrelated diversification – e.g. Samsung televisions, phones, fridges, insurance, hotels
Vertical diversification – backwards or forwards in the supply/value chain (e.g. taking over a distributor).
Ansoff Matrix
The webinar outlines the Ansoff matrix as a useful tool to help guide the strategic direction for the organisation
Links products and markets
Strategy is all about giving direction for the brand/organisation
Ansoff, I. (1957). Strategies for Diversification. Harvard Business Review.
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Other Strategic Models?
Boston Consulting Grid.
Portfolio model – categorises differing performance of an organisation’s group of brands
Positioning relative to competitors
Perceptual/positioning maps
Product/Industry Life Cycle
Key stages of introduction, growth, maturity, decline
Help to understand how to achieve competitive advantage
Dogs: These are products with low growth or market share.
Question marks or Problem Child: Products in high growth markets with low market share.
Stars: Products in high growth markets with high market share.
Cash cows: Products in low growth markets with high market share
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Segmentation, Targeting and Positioning
STP is (usually) a distinct part of a marketing plan, usually in the strategy section
Can be complex (and takes up valuable word count!)
So…
No STP is required to be identified for the marketing plan
You may wish to highlight typical users/consumers in the insight analysis though
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Next Week
We will be covering the tactics section of your plan
The marketing mix / 7Ps
This is clearly another key section of your plan so we will be exploring this in the lecture, tutorial and webinar
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Any Questions?
