Strategy

By now you have already gone through assessing the factors that affect you firm- from the general environment (PESTEL) to the market forces (5 Forces) to the firm level (SWOT, VCA, Competitive Advantage).

You have found out how your industry works, discovered what the industry is comprised of, learned of the level of competition within the market where you operate. You have also profiled your customer base- who buys your products, where are they from, when are they buying, why are they buying, and to some extent, why are they buying your competitor's products instead. More importantly, you have also identified the need that your product/service/company aims to satisfy. This is what you are trying to offer to the market. It is what you are trying to sell.

You have also dissected your firm's inner systems, and found out where you are best at and where you need to improve in order to survive.

Then you set your objectives or goals for the next 3 years. The goals are consistent with your company mission-vision and core values.

You are now ready to embark on the next chapters of your paper, in fact, the heart and soul of a marketing plan- the marketing strategy.

First, the definition: a marketing strategy is a game plan to reach target markets and the enumeration of value propositions that will be offered based on analysis of the best market opportunities (Kotler).

Here is an example of target segments and corresponding features/benefits for each segment (Kotler):

There are in fact several marketing strategies that you can employ. Your choice would be dependent on what you want to accomplish (objectives), what you are capable of doing (competitive advantage).

You may use the following frameworks to choose the most appropriate strategy.

1. The Product/Market Opportunity Mix

2. Segment-Target-Position

3.  Market Positioning

For detailed discussions, read your textbook: Part 4 and Part 5.

Then proceed with specific strategies for each of the 4Ps in your marketing mix: Product, Price, Place (Channel/Distribution), and Promotion.

Next up: Implementation.

Your Scorecard

Here are your group scores for your midterm exam:

These are low scores, alright but don't get discouraged. Remember that your papers are works-in-progress. You can still get a good final grade if you do things right.

Midterm Madness

We have crossed the half-mark of the semester. In two weeks, you will be presenting your Strategic Marketing Management Paper to CBE Faculty for critiquing.

As I have previously emphasized, reading your textbook will certainly help you catch up with the lost class time. I do really hope that you are reading your reference book.

Your midterm papers are way below my expectations. To be honest, most of the papers that were turned in are not 3rd year college level outputs. I'm sorry to tell you this but I think it is time to step up. I can see your potential to excel, or at least to submit a respectable output but I think most of you are not yet into this class. Papers like this one need time, effort, and a lot of brain work. There are 7-9 people in your group, use  that to your advantage. More importantly, as what Steve Jobs said above, puso, kelangan may puso!

I shall be posting your scores soon. Meanwhile, you may check your Google Doc to see my comments. Some of you have seen it already, and has started asking questions. Let's get the ball rolling.

Here are my general observations on your submitted documents:

1. Many of you don't write in prose. This is an academic paper, so it is expected of you to discuss each of the assertions that you made. Do not write in bullets. You need to explain and expound. Use bullets, graphs and tables only to emphasize or to summarize an idea.
2. Be intellectually honest. Many of you do not cite your sources. It is not a point against you if your data comes from others as long as you use footnotes or end notes. Make original analysis from the data you have.
3. Use recent data, 2010-2013 are most helpful. Remember, you should be spotting a trend here for your market and industry. Data from 10 years ago is not as helpful as recent ones, especially if a recent one is available.
4. The Analysis of External Environment should be looking at current forces or factors that may affect your firm/industry. External means outside of the firm. Focus on the things, events, trends that are currently happening or will happen in the near future. Your analysis of external environment will help you predict the future. A correct prediction of the future scenario will help you come up with a more appropriate and responsive strategy. You should be able to identify your correct industry and get to know the factors that affect the firm: buyer power, supplier power, barriers to entry, power of substitutes, and extent of industry rivalry. To be able to do all these, you must know the size and characteristics of the industry where your firm belongs, the competitors, and the customers.
5. The Analysis of Internal Environment on the other hand looks at the present capability of the firm- on what is INTERNAL to the company. Look at the company's tangible and intangible assets, evaluate each one and identify whether it is a strength or a weakness. Look at the company's value chain- how they transform inputs into outputs- and what activities are supporting this transformation. Identify their strong and weak spots. Having done both SWOT and VCA, you may proceed with finding the competitive advantage of the firm.

Your papers will be rated based on what you have submitted so far. But I expect you to continue working on revising, improving, and adding more substance to these sections of your paper. On our next meeting, we will be discussing the rest of the sections moving towards submitting a draft document that is ready for presentation to the panel.

See you on Saturday!

PS. Please rename your Google docs using this protocol: Mark106-<section> <Company Name>

Countdown to Midterm Paper Deadline

Hi folks,

I don't want to scare you but at the rate things are going, here is something to serve as a reminder.


It is coming and it is real. Again, the Analysis of Macro and Micro-Environment paper is your midterm exam.

To date, no group has added me to their Google Document. This is a collaborative work and I intend to rate you based on your contribution to the total output. I would also like to track your progress, and be able to provide feedback immediately.

Let's get this done. I can only help you if you'd allow me.

Cheers!