Worksheet (DW2): Developing Strategic Marketing Plans Direction: This discussion worksheet is prepared for students who want to be familiar with the essence of developing strategic marketing plans from the perspective of strategic marketing management process. Section I has a list of topics which are to be discussed in class. For our discussion and your participation score, prepare your answers to all questions in Section I before the class—using your textbook or any other materials such as collected information from Internet—and submit your WORD answer file into D2L dropbox. Materials to Read for In-Class Discussion § Yoon, Kanghyun (2013), Fundamental of Customer-Driven Marketing, Great River Technologies. (Required: Read Chapter 2 and 3) § Kotler, Philip and Gary Armstrong (2008), Principles of Marketing, 13th ed., Pearson: Prentice Hall. (Optional: Read Chapter 2 for Company and Marketing Strategy & Chapter 18 for Creating Competitive Advantage) § Ferrell, O. C. and Michael Hartline (2008), Marketing Strategy, 4th ed., South-Western College Pub. (Optional: Read Chapter 2 for Strategic Marketing Planning) § Porter, Michael E. (1996), “What is Strategy” Harvard Business Review, 74 (6), 61-78. (Optional to read) § Dolan, Robert J. (2000), “Note on Marketing Strategy” Harvard Business School, 1-17. (Optional to read) § Kerin, Roger A. and Robert A. Peterson (2010), “Case: McNeil Museum of Art,” in Strategic Marketing Problems: Cases and Comments, 12th ed., Prentice-Hall. (Optional to read) …….
…. Section I: Important Issues to be Discussed 1. Since companies have limited financial, human, and time resources, it is important to develop right courses of actions which are required to achieve their business and/or marketing goals. In this regard, discuss what it means by strategyand why marketers need to develop an effective business and/or marketing strategy, along with an organization with marketing entrepreneurship. In addition, discuss what kinds of strategies marketers need to develop for an organization in order to achieve various types of business and/or marketing goals. 2. In usual, marketers attempt to develop an effective marketing strategy or strategic marketing plan by following the steps in Strategic Planning Process at the corporate level. Discuss what the essence of the strategic planning process ought to be and identify the relevant steps in the strategic planning process before making an effective strategic marketing plan at the marketing function level. 3. At this time, it is useful to consider various types of marketing and/or business goals at the corporate level as well as at the marketing functional level. Based on your experience or common-sensed intuition, identify different types of business and marketing goals, for instance long-term and short-term goals. In addition, discuss what kinds of business or marketing goals have been implied in the design of any business or product portfolio such as BCG and GE business portfolio matrix. 4. From the perspective of strategic marketing (management) process in Chapter One, discuss how any strategic marketing plan ought to be designed and what kinds of components it should include. Also, discuss what other components you think any successful marketing plan should include in addition to the elements provided in the textbook. This class will provides an example of strategic marketing plan. Introduction to Case Study 5. (Optional) For students who have little past real-life experiences regarding how to solve any troubled marketing situation, case study may provide indirect marketing experiences. Considering this benefit, discuss how to analyze any marketing case for deriving maximum educational outcomes. In this regard, develop any formal framework for further case analysis.