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Build Strategy Stephen Lawrence and Frank Moyes Graduate School of Business University of Colorado Boulder, CO 80309-0419
Building Strategy Outline Marketing Plan Advertising and Promotion Strategy Sales Strategy Operations Strategy Development Strategy
BUILD STRATEGY Marketing Strategy Target Customer Benefits Positioning Differentiation Operations Strategy Add Value Development Strategy Steps to Accomplish Drivers to the Financial Plan Income StatementBalance Sheet Cash Flow
Marketing Plan Advertising Strategy How will we advertise and promote our product or service? How will we communicate with our customers? Advertising? Public relations? Personal selling? Printed materials? Other means of promotion? Why will this be strategy be effective in reaching our target customer?
Marketing Plan Sales Strategy How will orders be taken? Personal selling? Online purchasing? TV infomercials? Direct mail? 800 telephone? Who will do the selling? An internal sales force? Manufacturer's reps? Telephone solicitors? How will we recruit, train, and compensate our sales force? How will we support our sales effort? Internal staff Service operations
Operations Plan Operations Strategy How will we use operations to add value for customers in our target market? How we add value to our customers with operations? Quality Flexibility Timeliness Price Which dimensions will we stress and which will we de-emphasize? What comparative advantages do we have with our operational design?
Development Plan Development Strategy What work remains to launch our company and our products? What factors need to come together to make our concept work? What are we doing to bring them together? What are the risks to the successful implementation of our development plans? Technological risks Cost risks Competitive risks How will you mitigate these risks?
Differentiation Road Map Brand CommunicationsFeatures Trademark Packaging Delivery Bundling Augmented Benefits Quality Warranty Tangible Benefits Color Installation Size Time of sale Core Benefits Style Service Options After sales Timeliness Special terms What’s it for? Customize Usergroups Design help Example: What’s it do? Morton Salt
Morton Salt Core Benefit Tangible Benefit Iodize, pourability, granual size, color flavor, packaging, organic, sea salt Augmented Flavor enhancer, preservative, health Delivery (restaurant, road dept.), healthy recipes Communication “When it rains it pours” (girl with umbrella)