The Using of Strategic Planning Developed SBU Planning And Company Can Get Ups And Down Because Everything is Uncertain Also then We Can Develop Product Market Expansion As like Product Development, Market Development Moreover Can Partner With Company And Others Company Like Brand Alliance And Do Analysis of Swot Analysis
Chapter # 2 Strategic Planning Strategic Planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. Companies usually prepare annual plans, long-range plans,s and SBU.
Steps in Strategic Planning Business Unit & All corporate headquarters undertake four planning activities:
- Defining the corporate mission.
- Establishing the Strategic Business Unit(SBU).
- Assign resources to each SBU.
- Assessing Growth Opportunities.
A mission statement is an “invisible hand” that guides the people of the organization. The mission should be: – Specific – Realistic – Fit with the market environment – Based on distinctive competencies – Motivating mission Product-oriented Mission Statement: the product or service it deals in, reflecting the nature of the business. VS Market-oriented Mission Statement: satisfying needs, from the perspective of the customers of the market. AIUB, mission“they are willing to try to provide computer-based higher standard education.
Vision Statement – “WHAT do we want to BECOME?” Vision answers the basic question, Vision is trying to fulfill a mission. Setting objective and goal Designing the Business Portfolio The company must: Must need to do analyze Strategic Business Units (SBUs) decide which SBUs should receive more, less, or no investment develop growth strategies for adding new products or characteristics of SBU are,
1. It is a collection of related businesses.
2. It will have competitors
Responsible for Strategic Planning Profitability Efficiency Analyzing SBU (strategic business units, or SBUs) is made up of company Assess various SBUs Decide how much support each SBU deserves Companywide Strategic Planning And Marketing Role Assign Resource Every company wants to earn more profit, invest in profitable businesses and divest less profitable or weaker businesses. but for this, they need to identify or evaluate each of their SBUs. SBU is to assign appropriate funds and set goals. After reviewing the SBU is to build, hold, harvest, and divest. For analyzing the SBU one important approach is (BCG) Approach.
Using this approach all company all its SBU to move Growth-Share Matrix.
High growth & share Profit potential Have to invest heavy investment to grow.
Low growth, high share Established, successful SBUs Produce cash.
Question Marks? High growth, low share From question mark company can go star if they invest more and do accurate marketing.
have Low growth & share Low-profit potential
Market Penetration: A strategy for that increased sales of the present product in a current market segment not to change the products.
How? Need to add visit customers to visit more, improving advertisement, pricing, service, or store. Example: COSCO is operating in the same Bangladeshi market with an unchanged or undifferentiated market.
try to focus on new market segments for current company products.
The strategy tries to focus on current products outside of the markets. New products for new Markets.
How Startup or buy new Developing Strategies for Growth and Downsizing
Is the reduction of the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company’s overall strategy help with CRM of working closely with partners in other company departments to form an effective value chain that serves the customer, as well as partnering value-delivery network. To provide superior value to the customers, each value stick should tidily bundle together: Primary activities Support activities Partnering with Others in the Marketing System Value try to deliver a network of the company, supplier, distributor ultimately customers who Value delivery network can be formed and worked through Horizontal Integration (AIUB, NSU, BRAC) Vertical Integration (AIUB, SQUARE, Unilever, BAT) Through market segmentation, targeting, and positioning, the company decides
This process involves three steps:
Customer-Centered Marketing Strategy
is trying to divide the market into dynamic groups to evaluate distinct needs, characteristics, or behavior. Customer-Centered Marketing Strategy Market Segment is a group of consumers who respond in a similar way to a given set of marketing efforts. Target Marketing It means that need to target each and every market to get positioning.
Customer-Centered Marketing Strategy – Marketers can position their offerings by using different variables like products, services, personnel, channel, and image, etc) Developing the Marketing Mix Price.
Marketing Strategy And Mix Developing the Marketing Mix Place (distribution) is the company trying to make products available to target customers at their convenience Promotion Activities that doing via advertisement and get enriching pop-up notifications to customers. The Four P of Marketing Mix Developing the Marketing Mix The 4 Ps concept takes the seller’s point of view, not the buyer’s view. 4 Ps 4Cs Product þ Customer Solution Price þ Customer Cost Place þ Convenience Promotion þ Communication Marketing Analysis All market have strength, weakness, opportunity, and threat.
So marketers need to analyze all issues to develop and sell the product more. Marketing Analysis The analysis is the complete analysis of the company’s situation in a SWOT analysis that evaluates the company’s: