Business strategy planning-- Marketing strategic plan
Marketing manager must understand well the goals and business unit strategic plan. Guided by its mission and objectives, business unit strategy should become an important reference for planning marketing strategies as other functional plans. Top management must answer the following questions:
1. On what basis the assessment of the unit's business strategy?
2. What strategies will be used and financial resources which is provided to implement the strategy?
3. Does the unit's business strategy is managed for the purpose of cash flows, growth or income?
4. what is management desired expectations: sales, market share, profit contribution, or any other aspect?
There are many strategy planning options of corporate development that can be done, the option is certainly require the support resources that can optimally be used to run the development. A number of development options can be explained as follows:
Core Business
Serving a market product with a product line that can provide competitive advantage, because of specialization, but with the risk depending on the one need of consumers. Expansion is often carried out to the market of other products to reduce risk
New markets for existing products
The expansion of the market with similar products reduce the risk of dependence on one market segment using the skills and techniques of production owned.
New products for existing markets
To reduce dependence on one type of product in a market that already exists.
Unrelated to core business
This strategy is done by adding new products and new market areas through internal development or acquisition of businesses unrelated to its core business. These strategies generally have a high risk and expensive.
Concentration
Doing the widest breadth of market development with one product or more focus to serve a particular market with a product that already exists.
Marketing manager must understand well the goals and business unit strategic plan. Guided by its mission and objectives, business unit strategy should become an important reference for planning marketing strategies as other functional plans. Top management must answer the following questions:
1. On what basis the assessment of the unit's business strategy?
2. What strategies will be used and financial resources which is provided to implement the strategy?
3. Does the unit's business strategy is managed for the purpose of cash flows, growth or income?
4. what is management desired expectations: sales, market share, profit contribution, or any other aspect?
There are many strategy planning options of corporate development that can be done, the option is certainly require the support resources that can optimally be used to run the development. A number of development options can be explained as follows:
Core Business
Serving a market product with a product line that can provide competitive advantage, because of specialization, but with the risk depending on the one need of consumers. Expansion is often carried out to the market of other products to reduce risk
New markets for existing products
The expansion of the market with similar products reduce the risk of dependence on one market segment using the skills and techniques of production owned.
New products for existing markets
To reduce dependence on one type of product in a market that already exists.
Unrelated to core business
This strategy is done by adding new products and new market areas through internal development or acquisition of businesses unrelated to its core business. These strategies generally have a high risk and expensive.
Concentration
Doing the widest breadth of market development with one product or more focus to serve a particular market with a product that already exists.
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