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  • The Role of Marketing in Strategic Planning - Lesson 2b

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    strategic plan for marketing

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    Download as ppt, pdf, or txt
    104 views18 pages

    The Role of Marketing in Strategic Planning - Lesson 2b

    Uploaded by

    Anonymous lNV4yt0
    strategic plan for marketing

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 18

    Question mark

    Cash cow

    Dog

    High

    Star

    Low

    Market growth rate

    BCG Growth-Share Matrix

    High

    Low

    Relative market share


    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Developing Growth Strategies

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Diversification Growth
    Concentric diversification strategy
    Horizontal diversification strategy
    Conglomerate diversification strategy

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Integrative Growth
    Backward integration (acquiring a supplier)
    Forward integration (acquiring distributor of
    your product)
    Horizontal integration (acquiring a competitor)

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Business Mission
    SWOT Analysis
    Strengths, Weaknesses, Opportunities,
    Threats

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Internal Environment Analysis
    (Strengths and Weaknesses Analysis)

    External Environmental Analysis


    (Opportunities and Threats Analysis)

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Goal Formulation
    Arrange from most to least important
    State quantitatively
    Measurable and realistic
    Consistent

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Strategy Formulation
    Strategies are the paths to goals
    3 generic types
    Overall cost leadership
    Differentiation
    Focus
    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Strategic Alliances cooperative
    agreements between organizations that
    allow them to benefit from each others
    strengths
    What are some strategic alliances in the
    hospitality and tourism industry?
    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Program formulation
    Formulate programs that support the strategy

    Implementation
    To implement strategy, required resources and
    employee buy-in are necessary

    Feedback and Control


    Track results and monitor new developments
    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Business Strategy Planning


    Unique Challenges of the hotel industry
    complicate the process of strategic planning
    Major chains commonly do not own all
    properties that they manage
    Owners of hotel-resorts often show little
    interest or knowledge of their property (egocapital concept)
    Professional managers often are not trained in
    strategic planning
    Global strategic alliances may further
    complicate the planning process
    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Best Practices
    Howard Schultz brings the European
    coffee experience to America via
    Starbucks
    Focus on growth, new products, new
    retail channels to stave off competition

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Best Practices in Strategic


    Planning
    What did they do?

    The Inn on Biltmore Estates


    Tricon Global Restaurants (Yum Brands)
    Jack in the Box
    The Las Vegas Hilton
    Hyatt Hotels
    Boston Greater Convention and Visitors Bureau

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Key Terms
    Ansoff productmarket expansion grid
    Backward integration
    Competencies scope
    Concentric diversification strategy

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Key Terms
    Conglomerate diversification strategy
    Corporate mission statement
    Forward integration
    Geographic scope

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Key Terms
    Growthshare matrix
    Horizontal diversification strategy
    Horizontal integration
    Industry scope

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Key Terms
    Macroenvironmental forces
    Microenvironmental forces
    Marketing opportunity
    Market-oriented strategic planning

    2006 Pearson Education, Inc.


    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

    Key Terms
    Market-segment scope
    Products and applications
    Strategic alliances
    Strategic business units (SBUs)
    Vertical scope
    2006 Pearson Education, Inc.
    Upper Saddle River, NJ 07458

    Marketing for Hospitality and Tourism, 4th edition


    Kotler, Bowen, and Makens

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