Marketing strategy development examples mcdonalds,tools in marketing research,macro software windows 7,strategic planning nike - Plans On 2016

For this specialty pharma company, we performed a comprehensive market landscape analysis and provided a pain market development strategy. Here I give four examples of the commonly taught penetration, product development, market development, and diversification strategies.
When marketers try to sell the existing product to the existing customers, they engage in penetration strategy. McDonald's introduced salads in their outlets in order to retain its existing customers, many of whom were becoming more health conscious.Salads are exactly opposite of what McDonald's is known for!
Introducing an existing product in different markets is perhaps one of the most used strategies to extract full benefit of a successful product. When marketers introduce a totally new product to a completely new market, they engage in diversification. Youa€™ll be joining the 130,000 Smart Insights members from 80 countries who trust our advice to Plan, Manage and Optimize their marketing. You may have noticed we're fans of using practical models as tools to support marketing strategy development? I think most would agree that models are useful "Mind Tools" to structure thinking and communicate a strategy, but there's a problem. In our free, illustrated guide to 15 classic planning models diagrams we explain what they are and give examples of why and how to apply them in business. In the Essential Models guide we have selected what we see as the classic,most popular models that have stood the test of time and we think are still relevant in todaya€™s era of omnichannel marketing. Please select which you find most useful of the 15 models covered in our guide - you can select more than one or suggest others. Some marketing models are digital focused while others apply equally to digital and traditional forms of communication. This new guide, published in 2016 lists 10 models that can be used by marketing professionals and students for digital audits, planning and strategy.
Since I'm a digital marketer, I have my own views on the relevance of these, indeed in my books I have often included them. So before we wrote the guide I thought it would be nice to share an overview of the relevant models here for anyone passing this way who isn't familiar with them. I think it's right this is at the start of the list since it's still widely used and I think is a simple way to think through how a company markets its products.
Unique Selling Proposition is the concept that brands should make it clear to potential buyers why they are different and better than the competition. This is a simple concept and an essential message to communicate online since the core brand message often isn't clear. This well known, essential MBA model categorises products offered by a business in a portfolio based on their performance rating them as Stars, Cash Cows, Dogs and Question Marks as below.
I find this isn't so applicable in the online marketing world for small and medium businesses - it's more of a Big Business corporate strategy model. This model allows marketers to visualise a branda€™s relative position to competitors in the market place by plotting consumer perceptions of the brand and competitor brands against the attributes that drive purchase. The creation of an engaging online brand is so important to success in digital marketing, it's a pity there aren't more effective branding models. Customer Lifetime Value is the concept used to assess what a customer is worth, based on the present value of future revenue attributed to a customera€™s relationship with a product. A different class of models to others, this is more of calculation model - covered in Chapter 6 of my Internet Marketing Book. Ansoff's model dates back to the 1960s, but I still cover it in the books to show how companies should "think out of the box" with new opportunities for their digital strategies by considering new opportunities for market and product development rather than simply market penetration which misses the opportunities of digital marketing for me.
This model shows the steps a person takes before becoming loyal to a brand as they move through the stages of prospect, customer, client, supporter and advocate. Loyalty models are useful as a way of thinking through the opportunities to generate lifetime value. As an extension of the traditional PEST model, this analysis framework is used to assess the impact of macro-environmental factors on a product or brand - political, economical, social, technological, legal and economic. However, PESTLE is still widely taught and Annmarie Hanlon is a fan so to explain it's value to me and others she has this in-depth post on how to use the PEST or PESTLE model. Yes this one features in my books and I reference a classic 2001 paper by Porter on applying the Five Forces to the Internet. This diffusion innovation model plots the natural path of a product as it moves through the stages of Introduction, Growth, Maturity, Saturation and Decline. This three stage STP process involves analysing which distinct customer groups exist and which segment the product best suits before implementing the communications strategy tailored for the chosen target group. As a model which is focused on delivering relevant products, services and communications to the customer and so generating value for an organisation, this is essential for every marketer to understand and apply in practice.
This acronym stands for Situation, Objectives, Strategy, Tactics, Actions, Control and is a framework used when creating marketing plans. Finally, I wanted to thank the Chartered Institute of MarketingA who prompted the idea for this post when they were celebrating their centenary and they ran voting around different models.
I tell the students to use the 7Ps (or 8 with Principles (ethics etc)) to review the competitors and use the Ps plus capabilities and resources for the internal review. Completely agree about TOWs too – we always recommend that rather than a backwards looking SWOT.


The concept I write about is taken from Bob Lauterborn, professor of advertising at the University of North Carolina. You’ll be joining the 130,000 Smart Insights members from 80 countries who trust our advice to Plan, Manage and Optimize their marketing. Digital marketing strategy is often overlooked as companies focus on the tactics of individual media channels like SEO, Adwords and Email marketing.
This is our selection of the most popular Smart Insights advice on digital marketing strategy followed by our most recent articles which are updated through our "digital marketing strategy essentials" in our weekly enewsletter. This figure from Dave Chaffey's Ebusiness and Ecommerce Management book is recommended as a framework for managing all digital marketing activities.These are the digital marketing strategy issues which we aim to cover on Smart Insights! Also see our recommendations on individual digital marketing tactics like social media marketing strategy. However, regulatory pressures, changing consumer behavior, and negative media coverage forced them to introduce more healthy choices on the menu. A very common example is entering different geographical areas nationally and internationally.
We believe a clear, simple model gives us a framework to assess how we're doing things now compared to our competitors and plan growth strategies for the future.
Over the years, A many models have been developed and some are academic rather than of practical application in the "real world".
But which are the most useful - do take our poll to share which you think are of the most practical use and are valuable in understanding opportunities to grow a business.
In fact, most are included in my Digital Marketing: Strategy, Implementation and Practice book.
CLV is mainly important online for transactional sites and certainly investment decisions like allowable cost per acquisition (CPA) must be taken with future customer purchases and attrition rates considered. The four growth strategies are market penetration, market development, product development and diversification.
I find students tend to review these in-depth at the expense of creating innovative strategies. But, I personally think it has limited practical value - yes we know customers have more bargaining power online. It features in all my books and I know Paul Smith, who created itA well - he's my co-author on Emarketing Excellence.
A It also prompted the idea for a free guide to help explain the value of models for planning.
I am currently writing a MSc Strategic Digital Marketing paper analysing a company’s current strategic digital marketing practice and management.
COM (Competitors, Other (indirect) competitors and Market) is the micro environment – needs constant review as it changes quickly.
CIM senior examiners on Diploma in Digital Marketing, failure of students to use this digital marketing model versus old tried and tested models like PESTLE, Ansoff and even SOSTAC!!, but doesn’t get mentioned here, and seems to be a lack of scholarly articles on it?
It’s so frustrating especially as the course text (Digital Marketing Chaffey, Ellis-Chadwick) has no mention of it either. BCG and Porters are higher-level tools and probably most appropriate in larger organisations.
I learnt this model from the IDM digital diploma, but although I now know it has been used i direct marketing for deca Strategy Innovation vs.
For example, by changing pricing, by adding minor features (new and improved!), changing the packaging (shampoo sachets), or highlighting alternative uses. With its launch Apple targeted a very large customer group, very different from its traditional smaller cult-like following. They're also great for communicating the purpose and reason behind a strategy you are pursuing. Because of this, we've just produced a new guide free for all members on digital marketing models specifically. But it suffers from a push mentality completely out-of-keeping with modern digital marketing approaches of listening to and engaging customers in participation through social median marketing. For example, to do a thorough SWOT analysis one has to do a PESTLE (taught to me as STEEPLE+E) and Porters five forces to fully analyze both macro and micro environment. But I also think SWOT can only identify so much and we need other tools to expand the results. In this commercial, we get to how Cadbury India is pushing for chocolates to be used as small gifts instead of more traditional sweets used during Diwali festival. In my opinion Apple's agreements with music labels gave them their unique positioning rather than the iPod hardware or iTunes.
It gives details on the 10 key digital marketing models, so you get the most relevant marketing models for your business. I also think it under-represents the power of intermediaries like comparison sites and publishers in the online world.
Threats can kill your business and opportunities are the future but if your mind set is internal you look outside with blinkers on.
Steve Jobs and his team put a tremendous effort in creating contracts with music labels and artists. Strategic PlanningViews: 5676 If you are intrigued by the potential of strategy innovation for your company, be aware that you will not get it from your current strategic planning process.


Overall, people may have different preferences, but most useful is kind of pointless since they are inter-connected. Heuristic (discovery-driven)CreativeStrategy innovation requires a creative process, not an analytical one.
It requires people to listen to customers in new ways, design new types of products, and envision strategies for markets that do not currently exist. It is a process that is as disciplined and structured as strategic planning but uses creativity, rather than analysis, as the primary tool. The raw materials for strategy innovation are insights, which are new perceptions and new understandings of value. Insights can come from listening to or observing customers— their words, actions, emotions, and wishes.
Insights can come from listening to industry experts or thought leaders as they explain their understanding of the present and future dynamics of a marketplace. Insights can also come from listening to people who are not entrenched in your industry, company, or culture, as they are in the best position of offering a fresh perspective.The quality of the insights necessary for strategy innovation cannot come from statistics. People with a strong analytical orientation can participate in the strategy innovation process (everyone has the potential for creativity), but they must check their quantitative tools and mind-sets at the door. They can have them back when it comes time to evaluate and quantify the business opportunities developed by the strategy innovation process. However, the process for strategy innovation is a creative one, not an analytical one.Market-CentricStrategy innovation requires a market-centric process, not one that is company-centric. You will recall from high school science class that Copernicus identified the sun as the center of the universe (heliocentric model). Just like people used to believe that the sun and stars revolved around the earth, many of today’s corporate executives believe that their companies are the center of their business universe, and that all other stakeholders (shareholders, suppliers, customers, and employees) revolve around them.
Strategy innovation proposes, instead, that customers and the dynamics of the marketplace are the center of the business universe (market-centric), and that wise companies will consider setting their orbits around them. If customers need call centers to receive the service they need, companies should consider changing their business models to create them.
If Third World markets need household products at lower prices, companies should explore innovative ways of providing them.To be clear on this point, we are not suggesting that companies meet all customer needs or sacrifice sound financial management to fulfill those needs.
Successful strategy innovation requires that a new business opportunity add significant value for both the customer and the company to be worthwhile. Revising plans and updating numbers have a predictability that allows you to schedule strategic planning sessions months in advance. Strategy innovation is a grassroots, discovery (‘‘heuristic’’) process that is dependent on the quality of the insights gained along the way. Sometimes it happens quickly, sometimes it takes many iterations before a breakthrough is achieved. Customer interviews might not reveal new expressions of value in the first month of trying. An examination of future market dynamics may suggest several very different future scenarios that will take a while to sort out and evaluate. The iterative nature of the process means that the imposition of deadlines may affect the quality of the output. That is, a team may be forced to stop exploring because of a deadline, rather than because they have already discovered all the great insights they need. Flexible timing is more accommodating to the heuristic nature of the strategy innovation process.Another difference between traditional strategic planning process and a strategy innovation process is the orientation toward time.
There is a natural tendency in the strategic planning process to start the planning with ‘‘today’’ and then make projections, based on historical trends and today’s statistics, out to ‘‘tomorrow.’’ It is starting with the known and working toward the unknown. It must be able to transcend today’s conditions and imagine what is possible in the future. After identifying potential new business opportunities in the future, the planning works backwards to identify the key strategic milestones to get there. In this way, the more tangible appeal of new growth opportunities acts as a ‘‘future-pull,’’ which will help the company in its decisions on resource allocation.Where traditional strategic planning focuses on building value in current markets, strategy innovation focuses on creating new value in new markets. In the 1960s, Xerox had a near monopoly on the sales and servicing of large copy machines to large businesses.
Their business model consisted of a direct sales force that sold leased, highend equipment, and an extensive service network (profit center) to keep the equipment operating. These means of value-enhancement can help grow revenues while leveraging the company’s current strategy and business model.However, there are also other ways of delivering value to customers.
Using their skills in microelectronics and optics, they developed a copier with a replaceable cartridge, which they sold as the first personal copier. Aimed at small businesses and individuals, these copiers were inexpensive, required little or no maintenance, and could be purchased through existing retail channels. At the same time, it will likely require a company to consider the development of a new business model in order to implement the new strategy.



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