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Transcript of Strategic Planning
Mission and Vision
The Strategic Planning Process
Situation Analysis & Marketing Plan
Functional Goals & Objectives
The Balanced Performance Scorecard
Strategic Marketing Planning
Explains how the company will get where it wants to be
Sony's Mission and Vision
To create exciting new digital entertainment experiences for consumers by bringing together cutting-edge products with latest generation content and services.
Sony is committed to developing a wide range of innovative products and multimedia services that challenge the way consumers access and enjoy digital entertainment. By ensuring synergy between businesses within the organisation, Sony is constantly striving to create exciting new worlds of entertainment that can be experienced on a variety of different products.
Marketing Mix (Product, Place, Price & Promotion
Position: How are we achieving our goals???
Porter's Five Forces Model
Market size and potential growth
Marketing Plan Contents
Functional Goals and Objectives
All Business functions must support the mission and goals
Functional Objectives should be expressed in clear terms
All functional objectives should be reconsidered for each planning period
Purposes and Significance of the Marketing Plan
Balanced Strategic Planning
Johnson & Johnson Credo
Examples of BSC
In many organizations, marketing does not have a place of importance in the organizational hierarchy. Why do you think this happens? What are the consequences for a firm that gives little importance to marketing relative to other functions?
Defend or Contradict this statement:
Developing Marketing strategy is more important than implementing marketing strategy, because if the strategy is flawed, its implementation does not matter.
What are some of the potential difficulties in approaching strategic planning from a balanced perspective? Isn't financial performance still the most important perspective to take in planning?
Questions for Discussion
Blueprint of the organization’s marketing activities:
--> Goals and objectives
-->“Road map” for strategy implementation
--> Instructions for employees (roles)
--> Specifics regarding the allocation of resources, marketing tasks, responsibilities of individuals, and timing of marketing activities
*Not the same as a business plan*
Explain both present and future situations
Specifies expected outcomes
Describes the specific actions
Communicating the strategy to top executives is paramount!!!
--> Internal, Customer, External
--> Strengths, Weaknesses, Opportunities, Threats
Marketing Plan Contents (cont'd)
Marketing Goals & Objectives
--> Goals: Broad, simple statements --> Objs.: Specific performance targets
--> Target market --> Marketing mix
--> Describes execution of mkt. program
Evaluation and Control
--> Formal/Informal assesments
Customer needs and wants first
Focus on long-term, value-added relationships
Corporate culture that places customers at the top of the organizational hierarchy
Cooperation with suppliers and competitors to serve customers more effectively and efficiently
Customer-Focused Strategic Planning
Traditional planning approaches do not capture value created by the organization's intangible assets (relationships, innovation, etc.)
Balanced Strategic Planning Aligns Four Complementary Perspectives:
Learning and Growth
Clear and concise statement
Related to what the company believes in
Explains the reason(s) why the Company exists