Description
strategic management covers topics like strategy compenents, corporate strategy, business strategy and marketing strategy
Key Components of Corporate, Business and Marketing Strategies
Strategy Component ----------------------------------------Scope Corporate Strategy Business Strategy Marketing strategy ------------------------------ ----------------------------------------------------------Corporate DomainBusiness Domain“Which business shall Target market def we be in?” “Which product- markets Product line, width, shall we be in? Branding policies within this business or ind. Corporate dev. strategies Business Dev. Strategy Prod-mkt dev plan Line extension plan product elimination plan Conglomerate diversification e.g. expansion in unrelated business, Vertical integration Acquisition, disinvestments policies concentric, diversification (new customers for existing products or new products for existing customers)
depth
Goals & Objectives Over all across business Depends on Corp goals depends on corp./business goals Revenue growth Objectives aggregated objectives of specific product, mkt Profitability across prod.-mkts entry, sales, mkt. share, cont margin ROI, Earning per share. sales growth. customer satisfaction new product- market growth profits, ROI, cash flow Strengthen basis of competitive advantage Allocation of Resources of a mktg planAcross businesses among product, mkts across components
Across functions shared elements of maktg mix, product-mkt by multipal businesses entry e.g. R&D, MIS Source Of Competitive Primarily through superior through effective product positioning Advantage corporate financial, HR, R&D superiority of a component of mktg mix Better org. processes or for a specific product- market synergies relative competitors across all industries industry in which firm operates
across functional depts. within the business unit
Primarily through competitive strategy relative to competitors business units competencies relative to competitors in its
Source of synergy resources, image competencies, or activities market entries
Shared resources
Shared resources
shared marketing e.g .favorable customer across product-
technologies,or functional
competencies across or functional competencies businesses within the firm within an industry
across products-markets
doc_233895150.doc
strategic management covers topics like strategy compenents, corporate strategy, business strategy and marketing strategy
Key Components of Corporate, Business and Marketing Strategies
Strategy Component ----------------------------------------Scope Corporate Strategy Business Strategy Marketing strategy ------------------------------ ----------------------------------------------------------Corporate DomainBusiness Domain“Which business shall Target market def we be in?” “Which product- markets Product line, width, shall we be in? Branding policies within this business or ind. Corporate dev. strategies Business Dev. Strategy Prod-mkt dev plan Line extension plan product elimination plan Conglomerate diversification e.g. expansion in unrelated business, Vertical integration Acquisition, disinvestments policies concentric, diversification (new customers for existing products or new products for existing customers)
depth
Goals & Objectives Over all across business Depends on Corp goals depends on corp./business goals Revenue growth Objectives aggregated objectives of specific product, mkt Profitability across prod.-mkts entry, sales, mkt. share, cont margin ROI, Earning per share. sales growth. customer satisfaction new product- market growth profits, ROI, cash flow Strengthen basis of competitive advantage Allocation of Resources of a mktg planAcross businesses among product, mkts across components
Across functions shared elements of maktg mix, product-mkt by multipal businesses entry e.g. R&D, MIS Source Of Competitive Primarily through superior through effective product positioning Advantage corporate financial, HR, R&D superiority of a component of mktg mix Better org. processes or for a specific product- market synergies relative competitors across all industries industry in which firm operates
across functional depts. within the business unit
Primarily through competitive strategy relative to competitors business units competencies relative to competitors in its
Source of synergy resources, image competencies, or activities market entries
Shared resources
Shared resources
shared marketing e.g .favorable customer across product-
technologies,or functional
competencies across or functional competencies businesses within the firm within an industry
across products-markets
doc_233895150.doc