A good Strategy is the essential foundation of any plan (as is a Vision for a Strategy) – so it is for Marketing – the cornerstone of any corporate success in competitive markets, and the more competitive the market, the more important it is to get the Strategy right.
‘Mastering Marketing Strategy’ lays the foundations for Strategic thinking for Marketing Managers. It examines the context and foundations of Strategy, the Classes of Strategy that are used by Marketers and how Marketers identify which Strategies they should employ in any given circumstance, and the various tools they use to reach these conclusions.
‘Mastering Marketing Strategy’ forms the core module within the following family
- Profitable Product Management
- Pricing for Results
- Marketing Management for Service Businesses
- Market/ing Research (for Consumer or B2B)
The course can be conducted over three or four full days depending on the depth to which the client wishes to go, and the levels of participation required. We append a three day programme to this outline.
Who should attend:
This course is essential for Marketing and Sales Managers who wish to progress their Marketing Planning activities within the firm. They should either have a first degree with a major in Marketing, or at least 3 years experience managing a Marketing function within their firm. Other Middle (or above – i.e. up to Divisional Director Level) managers in the firm who will benefit from this course are those from:
- Technology Design / R&D
- Human Resources – et al. – who, (ideally) will have already participated in the ‘Principles of Marketing’ course.
The Motive for Managers and Directors to attend is to facilitate a comprehensive analysis of their own part of the business by considering many more factors in their analysis & prognosis such as customer (internal & external) and competition. The adoption of this wider external view will handsomely compliment the normal internal (product & Production orientated) views.
For Marketing Managers (& above) – this course will enable them to either start to think Strategically – and/ or will provide them with the tools to formulate their Marketing Strategies in a more consistent, systematic and ‘Best Practice’ way.
For non Marketing Managers / Directors et.al. – this course will provide powerful insights into the strategies of Marketing via which they will be able to identify the areas where their department / discipline can make its vital contribution to the success of the firm’s Marketing function. AND in addition, the course will enable non Marketing Managers to start to think Strategically about their own part of the Business.
Course Aims and Objectives:
On completion of “Mastering Marketing Strategy” participants will be familiar with, and be able to use the tools of, and (on behalf of their firm, if in a position to do so) will be able to employ the techniques associated with the following factors.
By the conclusion of this course and the reading which goes with it – participants will better understand and be able to professionally employ the following topics in their part of the business.
The process of creating a workable Business Strategy employs two main processes: Analysis – to discover what the business will have to contend with – and – Synthesis – to build a new and winning way to overcome the hurdles and achieve the Business Goals / Visions set.
In the curriculum following we show a tick in the far right boxes to indicate which aspect, Analysis or Synthesis that topic will employ.
Setting course objectives.
- Re-Cap the basics of Marketing:- The 4 classic ways to ↑ profit: EXE: 1. demo this via the use of a P&l..
- The StratoGram re. Effectiveness vs. Efficiency
- Recap Marketing Principles & Practice
- The strategic vs. the tactical
Learn / Revise:
- Understand the 4 internal influences on profitability;
- Demonstrate this via the P&L;
- Roll this out into a StratoGram showing effectiveness vs. efficiency;
- Show how two factors of the 4 promote the use of a Marketing orientation by the firm;
- Re-cap the Marketing Concept;
- Understand the relationship between strategy and tactics;
The relationship Structure & Strategy
- The ‘nested’ context of: Corporate, Business, & Marketing Strategies & Plans; & of Aims, Strategy Mission (& Vision) & Objectives.
- SMART’nes & The cornerstones of effectiveness
- 3 Disciplines of Market Leaders
- The cornerstones of Effectiveness:-
- EXE:2. How effective is your firm.
- The bond linking Structure & strategy;
- Where the business Plan, corporate strategy & Marketing Strategy /plans fit-in and ‘Nest’ together;
- The reason for SMART’nes for Objectives;
- The cornerstones of Effectiveness;
- How effective is your business.
EXE: 3. Syndicate Case – ‘John Deer’
- Present & discuss the answer in workshop
- The Importance of KSF’s & Strategic Vision a’la Komatsu!
- The concept of strategic vision & The Key Factors for success & where they come from.
The Strategic Process – Analysis (pt1),
- EXE: 4. Winning Ways – how would you choose?
- U/standing your Global & Market environment – the G-PLEeST analysis & the O & T – KSF’s..
- EXE: 5. do a G-PLEeST for the course case in current times, & Identify the ‘O’ & ‘T’ KSF’s.
- The way ‘winners’ perceive their business priority’s the important aspects of their business;
- The importance analysing the Business Environment via G-PLEeST;
- What this acronym stands for;
- How to conduct same to identify the Opportunity & the Threat KSF’s.
The Strategic Process – Analysis (pt2),
- O.Q. Who was the competition in the John Deer case? ‘Porter’s 5 Forces’ & Competitor analysis – Analyzing the competitors. The tools for understanding your Competition’s Strengths,
- Weaknesses, Assets & Liabilities, The Price/Value Landscape.
- EXE: 6.How good or bad are the ‘John Deer’ case competition?
- The 5 Forces’ of the Competitive Marketplace;
- The imperative and methods to identify & understand your competition;
- Using the ‘Price Value’ Landscape;
- How to ascertain if they are ‘Good,
- Bad, Quiet or Dangerous’;
- Why the difference between Strengths& Weaknesses vs. Assets & Liabilities is important .
Portfolio Management & the Directional Tools:
- Intro the ‘Gap Analysis’,
- Introduce the ‘R’ Matrix +
- The BCGM, the GE Matrix , the McKinsey variant & their uses.
- The evolution& use of the Product Portfolio management tools;
- The importance of the ‘R’ matrix & how it is used,
- U/stand the Boston Matrix & its current uses,
- Ditto the GE Matrix,
- Ditto the McKinsey Grid, its benefits and how it works.
Introduce the case Willington’s fine papers
- EXE: 7. Start the case Willington’s fine Papers via the use of the McKinsey Grid
- The importance of Product Positioning & segmentation;
- Analysis of the competition
Evaluating Risk: The basics of Forecasting & the Gap Analysis:
- EXE: 8. Case:- Ascot Management Centre – how would you forecast their probable coming year’s sales.
- & how would you read the data supplied?
- The use of the Ansoff grid to evaluate the risk profile of options to close the Gap.
- The principles of forecasting;
- The process of conducting a forecast analysis;
- The different tools hat can be used when viewing / interpreting the data;
- Considerations re extrapolation (back to G-PLEeST);
- The Ansoff Grid and what it can contribute for managing our risks.
New Products & their Strategic implications:
- Product Development, The Product Life Cycle & the Diffusion of Innovation.
- The Implications for New Product Types and classes. The 3 types of Innovation.
- EXE: 9. suggest new markets, positions etc re Willington’s fine papers.
Learn / Revise:
- The 3 classes of Innovation & their implications on the firm’s NPD policy;
- The Product Life Cycle & its attendant issues;
- Managing each phase of the life cycle;
- The Innovation/Technology Adoption
- Curve – implications, ‘Crossing the Chasm’;
- Inside the ‘Tornado’ once across;
Positioning & Segmentation:
- Overview How to do it well & the tools to use;
- Introduce the ‘Levitt Construct’ & the ‘SpiderGram’ (aka Radar Chart).
- EXE: 10. Comparative Positioning using the Price/value landscape & SpiderGram in the Case ‘Ascot Management Centre’.
- The principles of Segmentation & the process of so doing;
- Why segment is different to ‘Sector’;
- Positioning the product (& range) the conventional way via the Levitt construct and: a ‘SpiderGram’.
Offensive Marketing Strategies:
- Types of offensive strategy* The Marketing Strategy Organogramme;
- What types of attack, & what types of defense are possible; Price Wars, action to take to deter, or to prosecute.
- The 22 immutable laws of Marketing & how to use them wisely
- A quick guide to its: benefits, nature
- Types of data & where best to get access to good reliable data.
- Establishing a Competitor Intelligence, Market/Customer Information system.
- Market vs. Marketing research;
- Ad-Hoc vs. Continuous data;
- Market /Customer Information systems;
- The four classes of Market data,
- Secondary vs. Primary Data,
- Qualitative vs. Quantitative Data;
- Briefing a MR agency.