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1、Marketing Strategy FormulationStrategic QuestionsWhich markets should we be in?What does our organisation have that will give it a competitive edge?Do we have the resources, skills and assets within the organisation to deliver the objectives?Where do we want to be in five, or even twenty years time?
2、What will our competitors be doing in three or five years time?Can we assume that our current modus operandi will be good enough for the future?Where do we start?Situation AnalysisUnderstanding and modelling the current situationThe synthesis of diverse informationDealing with inconsistencies in dat
3、aUnderstanding the priority, relevance of informationUnderstanding what strategic problems a firm is faced withMarket, Industry and Competitor analysisCustomer segments and behavioural analysesCompany position analysisand S.W.O.TProduct range and performance analysisPESTStrategic AnalysisGeneric Str
4、ategy (Porter)Growth Strategy (Ansoff)Strategic options ObjectivesObjective 1Objective 2Objective 3The Marketing AuditEnvironmental/Market/Industry and Competitor AnalysisE.g.:PEST5-ForcesPositioningCompetitor typesMarket Attractiveness/Business Strengths & Critical Success FactorsCompetitor Analysi
5、s (Kotler, 2000)Who are the competitors?Market share?Historical sales turnover?Past & current strategies?Strengths & Weaknesses (capabilities)?What do they do, how do they do it and where do they do it?Competitor Analysis (Drummond et al., 2008)Assets and skills (capabilities)Scope of operationBread
6、th of the product rangeChoice of distribution channelRelative product qualityBrand imageSource: http:/ be a Simple ConsiderationOr Strategic GroupsSometimes difficult to identify direct competitorsStrategic group framework used to identify direct competitorsA strategic group constitutes a group of f
7、irms that:Pursue a similar strategyHave similar characteristicsHave similar resources and competencesStrategic Groups (A Convenient Example?)Car SizeCostSmallMediumLargeBudgetMid MarketExpensiveFiat PandaVW FoxFord KAFord FocusVauxhall AstraVW GolfAudi A6Jaguar XFBMW 5 Series Pursue a similar strate
8、gy Have similar characteristics Have similar resources and competences. and Universities?Russell Group:CardiffCambridgeLiverpoolManchesterOxfordPost-94:BathDurhamLancasterYorkAlliance:BournemouthLiverpool John MooresManchester MetropolitanPlymouthMillion+:BoltonLeeds MetropolitanUCLanThe UK HE Marke
9、t Pursue a similar strategy Have similar characteristics Have similar resources and competences. Strategic Group Construction?Research-Led Teaching Focus:CardiffCambridgeLiverpoolManchesterOxfordVocational Focus:JCBMcDonaldsTescoPractical Teaching Focus:Liverpool John MooresManchester MetropolitanUC
10、LanU/G BA/BSc Teaching ProvisionFlexible Delivery Focus:Open University Online/PressPalgrave PublishingPearson Publishing Pursue a similar strategy Have similar characteristics Have similar resources and competencesMarket Definition is the Starting PointWhat market are we in?Who Are Our Competitors?
11、Who Are Our Competitors?Manchester: Who Are Our Competitors?Market Attractiveness and *Internal CapabilityHow do we start to work with these constructs in practice?*Business StrengthsMarket AttractivenessThere is a Range of Possible ChoicesShell Directional Policy MatrixGeneral Electric MatrixDirect
12、ional Policy MatrixThematic VariationsAnalysis: Market AttractivenessHow does the market need to look to be attractive to your organisation?What factors may be important?Marketsize, growth, segmentation, seasonalityCompetitorsnumbers, size, capacity use, aggressionCost economiesscale, experienceEnvi
13、ronmentpolitical, economic, socio-culturalTechnologyvolatility, maturity, complexity, patentsProfitsize, growthEntry & Exit barriersMarket Attractiveness FactorsUoM Market Attractiveness Exercise: Undergraduate Teaching Market1Key Market SuccessFactors (or Critical SFs)DemandCreativity WelcomedInves
14、tmentCollaborative Potential2RelativeImportanceto Firm(Share 10 Points)521 2 3Factor Rating for us inthis Market(Score 1 to 10)5 6 4 6 4Factor Scores(2x3)25 12 4 12 Market Attractiveness Score = 53%Business Strengths/Organisational CapabilitiesWhat business strengths do you need to succeed in the ma
15、rket sector?What factors may be important?Business Strength FactorsMarket shareBusiness sizeImageMarginsTechnologyChannel IntegrationCostsPricesQualityRangeServiceChannel FlexibilityInnovationMarket knowledgeUser loyaltyBusiness Strengths: University of Manchester1Strengths NeededTo Succeed InMarket
16、Research ExcellenceTeaching InnovationFinancial StabilityImage2RelativeImportanceTo Success(Share 10 Points)621 1 3Firms Strengths(Scale 1 to 10)777 6 4Factor Scores(2x3) 42 14 7 6 Market Attractiveness Score = 53% Business Position Score = 69% Served MarketsBusiness Strength (100% to 0%)HighMediumL
17、owHighMediumLowMarket Attractiveness(0% to 100%)StrengthenStrengthenPositionPositionBuildBuildPositionPositionBuild,Build,or define nicheor define nicheHoldHoldPositionPositionManage ForManage ForProfitProfitHarvestHarvestDivestDivestManage ForManage ForProfitProfitHarvestHarvest0%0%100%Potential Ma
18、rketsBusiness Strength (100% to 0%)HighMediumLowHighMediumLowMarket Attractiveness(0% to 100%)Enter AsPriorityEnter & BuildPositionBuild, Specialize Or IgnoreEnter IfWorth ItIgnoreIgnoreIgnoreIgnoreIgnore0%0%100%*e.g. Business Strengths Needed to SucceedImportanceWeighting/10Self-ScoreStrengthSelf-S
19、coreStrengthSelf-ScoreStrength?SainsburysTescoAldi%Competitor Assessment (e.g. *Grocery Retailing)Note: Weighting x Self-Score = StrengthPerceptual Mapping (Positioning)Customer/Organisational perceptions of organisations /brands/etc.Based on two axes that represent key attributesPosition competitor
20、sIdentify problemsIdentify opportunitiesHow can we use our assessment to position ourselves?Positioning Theory & Porters Generic StrategiesDifferentiationCost LeadershipFocusProtonKiaMercedesBMWAudiLamborghiniFerrariSkodaCitroeni.e. You dont want to be stuck in the middle!Toyota and/orLexus?Position
21、ing Theory & Porters Generic StrategiesDifferentiationCost LeadershipFocusi.e. You dont want to be stuck in the middle!AldiTescoWaitrosePorters concept of competitive advantage: Alternative views1.The adoption of common production, quality, marketing and management philosophies by industry competito
22、rs can mean that effective differentiation or absolute cost leadership is rarely achieved2.In addition how many managers are not concerned with controlling costs? Therefore differentiation strategies also need a cost focus3.It is possible to follow a hybrid strategy aiming to offer added value and l
23、ower cost (e.g. Skoda, perhaps?) 4.The two strategies, cost leadership and differentiation are not mutually exclusive.The reality of modern business is that many successful organisations are happily stuck in the middle, largely depending on how we are defining the marketPositioning Theory & Porters
24、Generic StrategiesDifferentiationCost LeadershipFocusAudi A1Audi A6Audi Q7Audi S3Audi A3?Audi R8Selective Snapshot of Audis UK Consumer Vehicle RangeMarket, Industry and Competitor analysisCustomer segments and behavioural analysesCompany position analysisProduct range and performance analysisPESTSt
25、rategic AnalysisGeneric Strategy (Porter)Growth Strategy (Ansoff)Strategic optionsObjectivesObjective 1Objective 2Objective 3Market, Industry and Competitor analysisCustomer segments and behavioural analysesCompany position analysisand S.W.O.TProduct range and performance analysisPESTStrategic AnalysisGeneric Strategy (Porter)Growth Strategy (Ansoff)Strategic optionsObjectivesObjective 1Objective 2Objective 3
