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Follow this simple step-by-step playbook to develop a corporate marketing strategy
that supports your company’s values and vision.
MARKETING STRATEGY
Playbook & Toolkit
Table of Contents MARKETING STRATEGY
Introduction 04
Conclusion 25
Framework 03
About This Playbook 26
Corporate Values 07
09Vision
12Assess Current Situation
16Objectives
18Create/Refine Strategy
23Budget & Measurement
STAGE
STAGE
STAGE
STAGE
STAGE
STAGE
1
2
3
4
5
6
Business Strategy
Metrics Dashboard
Vision Statement
Worksheet
Key Marketing
Metrics Dashboard
Marketing Business
Alignment Tool
STEP Industry
Analysis Tool
Marketing Budget
Template
Marketing Strategy
Scorecard
Product
Development Strategy
Product Marketing
Plan
Balanced Scorecard
Strategy Map
Core Competencies
Assessment
Core Values
Worksheet
MARKETING STRATREGY
Framework
Leverage the framework below to quickly empower
your organization’s marketing stratregy.
Click the buttons below to access all related
training, tools, templates, and other resources.
SWOT Analysis
Template
Brand Assessment
Tool
Market Requirements
Document
Balanced Scorecard
Strategy Map
CRM Program Metrics
Dashboard
Competitor Analysis
Template
Partnerships
& Channels
Marketing
Communications Plan
Brand Strategy
Scorecard
OBJECTIVES4 STRATEGY5VISION2 ASSESSMENT3 MEASURE61 VALUES
4MARKETING STRATEGY
Corporate
Values
Vision Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 3 4 5 6
Introduction
What Is the Purpose of This Playbook?
To help you develop a Corporate Marketing Strategy that:
Is aligned with corporate values and vision
Provides the foundation for product planning and marketing
Drives the Marketing Communications process and plan
CORPORATE MARKETING STRATEGY
MARKETING COMMUNICATIONS PLAN
PRODUCT A
MARKETING PLAN
PRODUCT B
MARKETING PLAN
How to Use This Consulting Playbook
This playbook consists of six stages, each with a description, steps,
and action items. Action items include using our premium tools and
templates. Our intention with this playbook is to help you:
Identify the foundation of any marketing strategy: your
corporate values and vision
Analyze and assess your current situation: competitive-
ness, products, industry, and other forces
Plan and use the classic marketing mix to craft a strategy to
drive your firm’s success in its chosen markets
5MARKETING STRATEGY
What is a Marketing Strategy?
Marketing strategies are often called marketing plans or marketing
communications plans. Demand Metric believes the marketing
strategy is separate and unique. The marketing strategy should
ideally flow from corporate strategy and is heavily influenced by
corporate values and vision.
To use a metaphor, the corporate strategy is a book with the
marketing strategy as one of the most prominent chapters.
Other chapters in the book might be:
Operations strategy
Finance strategy
Human Resources strategy
Development strategy
Scope of the Marketing Strategy
This playbook helps you develop a corporate marketing strategy,
aligned with corporate strategy and vision, to guide your marketing
efforts toward a specific set of outcomes.
Your marketing strategy then enables you to craft specific, detailed
plans in these areas that will put your strategy into action.
Demand Metric has separate playbooks to help you create:
S TA R T L E A R N I N GV I E W R E S O U R C E
Product Marketing Plan
Marketing Communications Plan
S TA R T L E A R N I N GV I E W R E S O U R C E
Corporate
Values
Vision Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 3 4 5 6
Introduction
6MARKETING STRATEGY
Outputs from This Playbook:
Stage 1 - Corporate Values
Stage 4 - Objectives
Core Values Worksheet
Marketing Objectives Scorecard
Stage 2 - Vision
Stage 5 - Create/Refine Strategy
Vision Statement Worksheet, Business Alignment and
Core Competencies
Market Requirements, Product Marketing Plans, Product
Development Plans, Marketing Communications Plan
Stage 3 - Assess Current Situation
Stage 6 - Budget & Measurement
SWOT Analysis, Brand Assessment, PEST Analysis,
Competitor Analysis
Consolidated Budget, Marketing Strategy Dashboard
Corporate
Values
Vision Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 3 4 5 6
Introduction
Corporate Values
STAGE 1
MARKETING STRATEGY
The place to begin any strategic planning process is with corporate values. Every firm has a set of core
values that are usually put in place when a company is founded. Often these values are well-articulated,
documented, and fully-integrated into the firm’s culture. Even if a firm’s values aren’t documented, they
exist and will require identification as part of this process.
During this stage, you’ll examine your core values to understand how they should influence the
development of your marketing strategy.
STEP 1: Review “Core Values” Case Study
STEP 2: Examine Your Core Values
8MARKETING STRATEGY
Deliver WOW through service
Embrace and drive change
Create fun and a little weirdness
Be adventurous, creative and open-minded
Pursue growth and learning
Build open and honest relationships through
communication
Build a positive team and family spirit
Do more with less
Be passionate and determined
Be humble
Introduction
Corporate
Values
1
Core values can shape the culture and character of the
company by providing a strong sense of identity
Core values can provide a thread of continuity that can hold
the organization together in the face of change
Review “Core Values” Case Study Examine Your Core Values
STEP 1 STEP 2
Action Item
A firm’s core values should exert the strongest influence on
its culture and how it manages its brand.
Zappos provides an excellent example of a company that
integrates its core values with its operations and marketing
strategy. Those values are:
Use the Core Values Worksheet to identify each of your
firm’s core values. Determine how they can and should
influence marketing strategy development to ensure your
strategy is in alignment with core values.
Having a strong set of Core Values is important because:
V I E W R E S O U R C EV I E W R E S O U R C E
Vision Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
2 3 4 5 6
VISION
STAGE 2
A firm’s vision is shaped by its core values and ideally is articulated and embodied by its leader. All
functions within the firm are optimized for achieving the vision. The vision represents a preferred
future destination, and the strategy you develop is the map to help get you there.
Some fundamental truths about vision: A firm’s leader owns and casts the vision. Vision is not
just a set of words, but the actions that support it. Without a meaningful, well-articulated vision,
a firm cannot achieve its greatest success
STEP 1: Identify Your Business
STEP 2: Connect Vision and Marketing
STEP 3: Align Marketing with Business
STEP 4: Identify Core Competencies
MARKETING STRATEGY
10MARKETING STRATEGY
Introduction
2
Vision
What business are we in?
What markets does our vision direct us to serve?
What opportunities exist within these markets that we are
uniquely qualified to exploit?
Identify Your Business Connect Vision and Marketing
STEP 1 STEP 2
Action Item Action Item
How is your firm positioned? For example, when asked
what business Harley Davidson is in, most people respond,
“motorcycles.” A Harley Davidson executive, however, gave
this answer:
Use the Vision Statement Worksheet to summarize your
company’s vision. Consider the vision to understand its impli-
cations on marketing strategy.
To complete this step, determine how to answer the following ques-
tions in light of your vision:
V I E W R E S O U R C E
“What we sell is the ability for a
43-year-old accountant to dress in black
leather, ride through small towns and
have people be afraid of him.”
Resist the temptation of providing the “easy” answer to this
question. Focus on the answer that positions your company
uniquelybasedonitscorecompetencies(Step4ofthisStage)
and reveals the value your firm provides to its customers.
For example, Zappos CEO Tony Hsieh speaks about his vision for
service excellence when he says “customer service shouldn’t just
be a department, it should be the whole company.”
Corporate
Values
Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
1 3 4 5 6
11MARKETING STRATEGY
STEP 3 STEP 4
If alignment between marketing and the business is effec-
tive, the culture will facilitate the success of your marketing
strategy.
If marketing and the business are misaligned, cultural
barriers will impair marketing’s ability to execute a marketing
strategy, no matter how brilliant it is.
Strategic Planning & Governance
Customer Relationship Management
Demand Generation
Performance Measurement
Market Intelligence & Research
Sales
Organizational Development
Human Resources
Systems & Technology
Product Development
Align Marketing with Business Identify Core Competencies
Action Item Action Item
Use the Marketing Business Alignment Tool to assess the
marketing organization’s alignment with the business. Focus
on improving alignment between marketing and the busi-
ness in the areas of the assessment.
Use the Core Competencies Assessment to identify your
firm’s core competencies.
Firms that have culturally embraced their vision typically have great
business unit alignment:
Core values shape your firm’s vision. Pursuit of the vision creates
core competencies. This assessment will have you review and rate
your firm’s competencies in the areas of:
V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E
Introduction
2
Vision
Corporate
Values
Assess Current
Situation
Objectives Create/Refine
Strategy
Budget &
Measurement
1 3 4 5 6
Assess Current Situation
STAGE 3
This stage is diagnostic and involves detailed research and analysis, during which you will
consider: your company, your brand, your customers, your industry and your competitors.
STEP 1: Current Company Status
STEP 2: Company Strengths & Weaknesses
STEP 3: Current Brand Status
STEP 4: Current Customer Status
STEP 5: Current Industry Status
STEP 6: Current Competitive Situation
MARKETING STRATEGY
13MARKETING STRATEGY
Revenue
Growth rate
Profit/loss
It is honest
It is broad in focus
It considers multiple time horizons
It is built on perceptions from several individuals or groups
in the firm
Current Company Status Company Strengths & Weaknesses
STEP 1 STEP 2
Action Item Action Item
Use our Business Strategy Metrics Dashboard to develop,
track, and analyze key performance metrics for your firm.
Use the SWOT Analysis Template to assess your firm’s
internal strengths, weaknesses, opportunities, and threats.
Choose metrics that have meaning for your company, not just
the marketing function. Some examples are:
An effective SWOT analysis has the following characteristics
Introduction
Assess Current
Situation
3
V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C E
Cost per sale
Revenue per employee
Headcount
Review enough data to determine trends for each metric. Which
trends does your marketing strategy need to help or exploit?
Additional Resource – The GAP Analysis Tool will lead you
through a deeper, functional assessment.
Corporate
Values
Vision Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 4 5 6
14MARKETING STRATEGY
Ensuring there is a brand plan that integrates with your
marketing strategy
Leveraging your brand effectively throughout the firm
Total customer accounts
New accounts
Key accounts
Retention
Revenue or profit per customer
Current Brand Status Current Customer Status
STEP 3 STEP 4
Action Item Action Item
Use the Brand Assessment Tool to perform an in-depth
analysis of your brand. Conduct this assessment regardless
of whether Brand Equity is a strength based on your SWOT
analysis.
Even if you do not use a CRM system to manage customer
relationships, use the CRM Program Metrics Dashboard to
develop, track, and analyze key customer metrics.
This assessment will help in a later stage of this playbook by: Here are some customer metrics you may wish to include in your
dashboard/assessment:
V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E
Introduction
Assess Current
Situation
3Corporate
Values
Vision Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 4 5 6
15MARKETING STRATEGY
How well prepared are you for the forces of change affecting
your industry?
Which strategies and tactics should you avoid because they
are destined to fail for reasons beyond your control?
This tool looks at your competitive playing field at the corpo-
rate level.
We recommend deferring the product analysis to the Product
Marketing Plan process.
However, if you need to conduct an assessment of competitive
products immediately, use the Competitive Analysis Tool.
Current Industry Status Current Competitive Situation
STEP 5 STEP 6
Action Item Action Item
Use the STEP Industry Analysis Tool (also referred to as
PEST) to analyze your industry from social, technological,
economic, and political perspectives.
Use the Competitor Analysis Template to assess the
competitive playing field in your industry.
The STEP analysis considers the following:
V I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C EV I E W R E S O U R C E
The scope of the SWOT analysis completed in Step 2 is the
state of your business.
Introduction
Assess Current
Situation
3Corporate
Values
Vision Objectives Create/Refine
Strategy
Budget &
Measurement
1 2 4 5 6
Objectives
STAGE 4
To this point, you’ve done in-depth research and analysis in preparation for setting objectives and
developing your Marketing Strategy. In this Stage, you’ll determine what you want to accomplish –
your objectives. In the next Stage, you’ll determine how to accomplish these objectives. You’ll use
the insights you’ve gained from the first three Stages of this playbook to guide your efforts.
In this Stage, you will deal with two sets of objectives:
STEP 1: Business Objectives
STEP 2: Marketing Objectives
MARKETING STRATEGY
17MARKETING STRATEGY
Introduction
Objectives
4
Maximize profit
Grow market share
Increase shareholder value
Business Objectives Marketing Objectives
STEP 1 STEP 2
Action Item Action Item
Ensure your understanding of your firm’s business objec-
tives. If your firm’s business objectives are unknown or
undocumented, use the Balanced Scorecard Strategy Map
to identify and document them.
Determine what you want to accomplish with the Marketing
Strategy you are developing. Use the Marketing Strategy
Scorecard to document these objectives.
In some cases, business objectives and marketing objectives are
one and the same. Typically, marketing objectives are a subset
of business objectives, contain more detail and are more refined.
Examples of common business objectives are:
Examples of how business objectives can drive marketing objec-
tives are provided below:
V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E
Corporate
Values
Vision Assess Current
Situation
Create/Refine
Strategy
Budget &
Measurement
1 2 3 5 6
Business Objective Marketing Objective
Maximize profits
Increase market penetration of current
products in current markets
Improve customer retention
Grow market share Develop new markets for existing products
Create/Refine Strategy
STAGE 5
In this Stage, you will articulate coherent actions that achieve your objectives – your strategy –
in each of the following areas: markets, products, communications, infrastructure.
STEP 1: Markets and Products
STEP 2: Market Plan
STEP 3: Products
STEP 4: Brand Strategy
STEP 5: Partnerships & Alliances
STEP 6: Communications
STEP 7: Infrastructure
MARKETING STRATEGY
19MARKETING STRATEGY
Introduction
Create/Refine
Strategy
5
Market penetration: lowest risk
Product development: moderate risk
Market development: moderate risk
Product diversification: highest risk
What is your market share?
Who is the market leader?
How accessible are these new markets?
What size is the market potential?
Do these markets know you have solutions that can solve
problems they are having?
Markets and Products Market Plan
STEP 1 STEP 2
Action Item Action Item
Based on the assessment of your situation completed in
Stage 3 and your objectives from Stage 4, determine which
markets to pursue and with which products.
Use the Market Requirements Document to analyze
opportunity in your chosen market(s).
Consider the risk for each of these strategies: For current markets, consider:
For new markets, consider:
Market
Penetration
Product
Development
Market
Development
Product
Diversification
Current
Current
New
NewProducts
Markets
V I E W R E S O U R C E
Corporate
Values
Vision Assess Current
Situation
Objectives Budget &
Measurement
1 2 3 4 6
20MARKETING STRATEGY
STEP 3 STEP 4
Brand Strategy
Brand Alignment
Brand Communication
Brand Execution
Products Brand Strategy
Action Item Action Item
Put a product strategy in place to support the choice you
made in Step 1 of this Stage.
If your strategy calls for using current products, use the Product
Marketing Plan to develop a marketing plan for them.
If your strategy calls for developing new products, use the Product
Development Strategy to develop market-driven solutions.
Review the results of the Brand Assessment you completed in
Step 3. Include in your Marketing Strategy a plan to implement the
recommendations from this assessment.
The Brand Assessment recommendations fall into these categories:
Use the Brand Strategy Scorecard to  document your
branding objectives, initiatives, measures, and targets.
S TA R T L E A R N I N GV I E W R E S O U R C E
S TA R T L E A R N I N GV I E W R E S O U R C E
V I E W R E S O U R C EV I E W R E S O U R C E
Introduction
Create/Refine
Strategy
5Corporate
Values
Vision Assess Current
Situation
Objectives Budget &
Measurement
1 2 3 4 6
21MARKETING STRATEGY
STEP 5 STEP 6
What are the goals of your partnering strategy?
How effective are your current partnerships and how do you
measure this?
What gaps exist in your current line-up of partners?
What can your partners do that you cannot?
Partnerships & Alliances Communications
Action Item Action Item
Visit the Partnerships & Channels section of our website for
a full set of tools and resources to help evaluate, measure
and manage your partnerships and partnering strategy.
Develop a Marketing Communications Plan to support this
strategy and the Product Marketing plans you created in
Step 3 of this Stage.
Your Marketing Communications Plan will provide detail on:
What needs communicating
Who needs to receive the communication (Internal and
External audiences)
Which communications channels to use
When the communications need to occur
Determine whether you have the right set of partnerships and alli-
ances in place to support your strategy. Ask yourself the following
questions:
V I E W W E B S I T E
Introduction
Create/Refine
Strategy
5Corporate
Values
Vision Assess Current
Situation
Objectives Budget &
Measurement
1 2 3 4 6
22MARKETING STRATEGY
STEP 6 (cont.) STEP 7
Events
Public Relations
Advertising
Technology (Examples: CRM or Marketing Automation
systems)
Processes (Examples: Sales or Lead Nurturing processes)
People (Examples: Staffing, performance reviews, hiring,
job descriptions or leadership development)
Communications Infrastructure
Action Item Action Item
In the classic 4 P’s of Marketing – Product, Price, Place
and Promotion – the Marketing Communications Plan is
primarily concerned with Promotion.
Identify the infrastructure requirements to support this
marketing strategy.
The Marketing Communications Plan is often quite detailed and
includes all communications through all channels such as:
These requirements often fall into one of the following areas (click
links to see related resources):
V I E W R E S O U R C ES TA R T L E A R N I N GV I E W R E S O U R C E V I E W W E B S I T E
Social Media
Web and Online
Helpful Hint – Use the MarCom Plan Playbook to help you
outline your communications strategy.
Introduction
Create/Refine
Strategy
5Corporate
Values
Vision Assess Current
Situation
Objectives Budget &
Measurement
1 2 3 4 6
Budget & Measurement
STAGE 6
With the major elements of your Marketing Strategy in place as a result of Stages 1-5, you will finish this
process by considering the budget and how you will measure your strategy’s results. In this Stage, you
will make sure you have a consolidated, comprehensive view of the budget required to support this
strategy, and ensure that the right metrics and tracking mechanisms are in place.
STEP 1: Consolidate Your Budget
STEP 2: Fine Tune your Dashboard
MARKETING STRATEGY
24MARKETING STRATEGY
Introduction
Budget &
Measurement
6
Product Marketing Plan budget(s)
Marketing Communications Plan budget
Marketing Strategy budget items not included in the above,
such as Infrastructure (Stage 5, Step 7)
Ensure that the measurement systems are in place to track
progress toward these objectives
Consider other measurements you should add to ensure
your strategy is effective
Consolidate Your Budget Fine Tune your Dashboard
STEP 1 STEP 2
Action Item Action Item
Review the Balanced Scorecard Strategy Map from Stage 4,
Step 1 and the Marketing Strategy Scorecard from Stage 4,
Step 2. Make any necessary changes to your Balanced Score-
card Strategy Map to include the appropriate elements of this
Marketing Strategy. Finally, use the Key Marketing Metrics
Dashboard to define, track, and report on key metrics.
Your marketing strategy budget will include:
Carefully review the metrics and systems for capturing them:
The Product Marketing Plans (Stage 5, Step 3) and the
Marketing Communications Plan (Stage 5, Step 6) both include
budgetstosupportthem.UseourMarketingBudgetTemplate
to consolidate individual budgets into one master budget.
V I E W R E S O U R C EV I E W R E S O U R C E
V I E W R E S O U R C EV I E W R E S O U R C E
Corporate
Values
Vision Assess Current
Situation
Objectives Create/Refine
Strategy
1 2 3 4 5
Conclusion
At the end of any business process, it’s always a good idea to review it
and identify areas for improvement.
Demand Metric has the tools and expertise to help you build an effective
Marketing Strategy Plan
Create or audit your marketing strategy plans
Assist with using any of the tools referenced in this playbook
Provide hands-on marketing assistance to accelerate achieving your
marketing department’s goals.
To learn more, contact Demand Metric: info@demandmetric.com
MARKETING STRATEGY
“However beautiful the strategy, you should occasionally look at the results.”
SIR WINSTON CHURCHILL
About This Playbook
MARKETING STRATEGY
Demand Metric is a marketing research and advisory
firm serving a membership community of over 106,000
marketing professionals and consultants in 75 countries.
Offering consulting playbooks, advisory services, and
500+ premium marketing tools and templates, Demand
Metric resources and expertise help the marketing
community plan more efficiently and effectively, answer
the difficult questions about their work with authority and
conviction, and complete marketing projects more quickly
and with greater confidence — thus boosting the respect
of the marketing team and making it easier to justify
resources the team needs to succeed.
To learn more about Demand Metric, please visit
www.demandmetric.com
© Demand Metric Research Corporation.
All Rights Reserved.
www.demandmetric.com
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Marketing Strategy Playbook

  • 1. Follow this simple step-by-step playbook to develop a corporate marketing strategy that supports your company’s values and vision. MARKETING STRATEGY Playbook & Toolkit
  • 2. Table of Contents MARKETING STRATEGY Introduction 04 Conclusion 25 Framework 03 About This Playbook 26 Corporate Values 07 09Vision 12Assess Current Situation 16Objectives 18Create/Refine Strategy 23Budget & Measurement STAGE STAGE STAGE STAGE STAGE STAGE 1 2 3 4 5 6
  • 3. Business Strategy Metrics Dashboard Vision Statement Worksheet Key Marketing Metrics Dashboard Marketing Business Alignment Tool STEP Industry Analysis Tool Marketing Budget Template Marketing Strategy Scorecard Product Development Strategy Product Marketing Plan Balanced Scorecard Strategy Map Core Competencies Assessment Core Values Worksheet MARKETING STRATREGY Framework Leverage the framework below to quickly empower your organization’s marketing stratregy. Click the buttons below to access all related training, tools, templates, and other resources. SWOT Analysis Template Brand Assessment Tool Market Requirements Document Balanced Scorecard Strategy Map CRM Program Metrics Dashboard Competitor Analysis Template Partnerships & Channels Marketing Communications Plan Brand Strategy Scorecard OBJECTIVES4 STRATEGY5VISION2 ASSESSMENT3 MEASURE61 VALUES
  • 4. 4MARKETING STRATEGY Corporate Values Vision Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 1 2 3 4 5 6 Introduction What Is the Purpose of This Playbook? To help you develop a Corporate Marketing Strategy that: Is aligned with corporate values and vision Provides the foundation for product planning and marketing Drives the Marketing Communications process and plan CORPORATE MARKETING STRATEGY MARKETING COMMUNICATIONS PLAN PRODUCT A MARKETING PLAN PRODUCT B MARKETING PLAN How to Use This Consulting Playbook This playbook consists of six stages, each with a description, steps, and action items. Action items include using our premium tools and templates. Our intention with this playbook is to help you: Identify the foundation of any marketing strategy: your corporate values and vision Analyze and assess your current situation: competitive- ness, products, industry, and other forces Plan and use the classic marketing mix to craft a strategy to drive your firm’s success in its chosen markets
  • 5. 5MARKETING STRATEGY What is a Marketing Strategy? Marketing strategies are often called marketing plans or marketing communications plans. Demand Metric believes the marketing strategy is separate and unique. The marketing strategy should ideally flow from corporate strategy and is heavily influenced by corporate values and vision. To use a metaphor, the corporate strategy is a book with the marketing strategy as one of the most prominent chapters. Other chapters in the book might be: Operations strategy Finance strategy Human Resources strategy Development strategy Scope of the Marketing Strategy This playbook helps you develop a corporate marketing strategy, aligned with corporate strategy and vision, to guide your marketing efforts toward a specific set of outcomes. Your marketing strategy then enables you to craft specific, detailed plans in these areas that will put your strategy into action. Demand Metric has separate playbooks to help you create: S TA R T L E A R N I N GV I E W R E S O U R C E Product Marketing Plan Marketing Communications Plan S TA R T L E A R N I N GV I E W R E S O U R C E Corporate Values Vision Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 1 2 3 4 5 6 Introduction
  • 6. 6MARKETING STRATEGY Outputs from This Playbook: Stage 1 - Corporate Values Stage 4 - Objectives Core Values Worksheet Marketing Objectives Scorecard Stage 2 - Vision Stage 5 - Create/Refine Strategy Vision Statement Worksheet, Business Alignment and Core Competencies Market Requirements, Product Marketing Plans, Product Development Plans, Marketing Communications Plan Stage 3 - Assess Current Situation Stage 6 - Budget & Measurement SWOT Analysis, Brand Assessment, PEST Analysis, Competitor Analysis Consolidated Budget, Marketing Strategy Dashboard Corporate Values Vision Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 1 2 3 4 5 6 Introduction
  • 7. Corporate Values STAGE 1 MARKETING STRATEGY The place to begin any strategic planning process is with corporate values. Every firm has a set of core values that are usually put in place when a company is founded. Often these values are well-articulated, documented, and fully-integrated into the firm’s culture. Even if a firm’s values aren’t documented, they exist and will require identification as part of this process. During this stage, you’ll examine your core values to understand how they should influence the development of your marketing strategy. STEP 1: Review “Core Values” Case Study STEP 2: Examine Your Core Values
  • 8. 8MARKETING STRATEGY Deliver WOW through service Embrace and drive change Create fun and a little weirdness Be adventurous, creative and open-minded Pursue growth and learning Build open and honest relationships through communication Build a positive team and family spirit Do more with less Be passionate and determined Be humble Introduction Corporate Values 1 Core values can shape the culture and character of the company by providing a strong sense of identity Core values can provide a thread of continuity that can hold the organization together in the face of change Review “Core Values” Case Study Examine Your Core Values STEP 1 STEP 2 Action Item A firm’s core values should exert the strongest influence on its culture and how it manages its brand. Zappos provides an excellent example of a company that integrates its core values with its operations and marketing strategy. Those values are: Use the Core Values Worksheet to identify each of your firm’s core values. Determine how they can and should influence marketing strategy development to ensure your strategy is in alignment with core values. Having a strong set of Core Values is important because: V I E W R E S O U R C EV I E W R E S O U R C E Vision Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 2 3 4 5 6
  • 9. VISION STAGE 2 A firm’s vision is shaped by its core values and ideally is articulated and embodied by its leader. All functions within the firm are optimized for achieving the vision. The vision represents a preferred future destination, and the strategy you develop is the map to help get you there. Some fundamental truths about vision: A firm’s leader owns and casts the vision. Vision is not just a set of words, but the actions that support it. Without a meaningful, well-articulated vision, a firm cannot achieve its greatest success STEP 1: Identify Your Business STEP 2: Connect Vision and Marketing STEP 3: Align Marketing with Business STEP 4: Identify Core Competencies MARKETING STRATEGY
  • 10. 10MARKETING STRATEGY Introduction 2 Vision What business are we in? What markets does our vision direct us to serve? What opportunities exist within these markets that we are uniquely qualified to exploit? Identify Your Business Connect Vision and Marketing STEP 1 STEP 2 Action Item Action Item How is your firm positioned? For example, when asked what business Harley Davidson is in, most people respond, “motorcycles.” A Harley Davidson executive, however, gave this answer: Use the Vision Statement Worksheet to summarize your company’s vision. Consider the vision to understand its impli- cations on marketing strategy. To complete this step, determine how to answer the following ques- tions in light of your vision: V I E W R E S O U R C E “What we sell is the ability for a 43-year-old accountant to dress in black leather, ride through small towns and have people be afraid of him.” Resist the temptation of providing the “easy” answer to this question. Focus on the answer that positions your company uniquelybasedonitscorecompetencies(Step4ofthisStage) and reveals the value your firm provides to its customers. For example, Zappos CEO Tony Hsieh speaks about his vision for service excellence when he says “customer service shouldn’t just be a department, it should be the whole company.” Corporate Values Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 1 3 4 5 6
  • 11. 11MARKETING STRATEGY STEP 3 STEP 4 If alignment between marketing and the business is effec- tive, the culture will facilitate the success of your marketing strategy. If marketing and the business are misaligned, cultural barriers will impair marketing’s ability to execute a marketing strategy, no matter how brilliant it is. Strategic Planning & Governance Customer Relationship Management Demand Generation Performance Measurement Market Intelligence & Research Sales Organizational Development Human Resources Systems & Technology Product Development Align Marketing with Business Identify Core Competencies Action Item Action Item Use the Marketing Business Alignment Tool to assess the marketing organization’s alignment with the business. Focus on improving alignment between marketing and the busi- ness in the areas of the assessment. Use the Core Competencies Assessment to identify your firm’s core competencies. Firms that have culturally embraced their vision typically have great business unit alignment: Core values shape your firm’s vision. Pursuit of the vision creates core competencies. This assessment will have you review and rate your firm’s competencies in the areas of: V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E Introduction 2 Vision Corporate Values Assess Current Situation Objectives Create/Refine Strategy Budget & Measurement 1 3 4 5 6
  • 12. Assess Current Situation STAGE 3 This stage is diagnostic and involves detailed research and analysis, during which you will consider: your company, your brand, your customers, your industry and your competitors. STEP 1: Current Company Status STEP 2: Company Strengths & Weaknesses STEP 3: Current Brand Status STEP 4: Current Customer Status STEP 5: Current Industry Status STEP 6: Current Competitive Situation MARKETING STRATEGY
  • 13. 13MARKETING STRATEGY Revenue Growth rate Profit/loss It is honest It is broad in focus It considers multiple time horizons It is built on perceptions from several individuals or groups in the firm Current Company Status Company Strengths & Weaknesses STEP 1 STEP 2 Action Item Action Item Use our Business Strategy Metrics Dashboard to develop, track, and analyze key performance metrics for your firm. Use the SWOT Analysis Template to assess your firm’s internal strengths, weaknesses, opportunities, and threats. Choose metrics that have meaning for your company, not just the marketing function. Some examples are: An effective SWOT analysis has the following characteristics Introduction Assess Current Situation 3 V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C E Cost per sale Revenue per employee Headcount Review enough data to determine trends for each metric. Which trends does your marketing strategy need to help or exploit? Additional Resource – The GAP Analysis Tool will lead you through a deeper, functional assessment. Corporate Values Vision Objectives Create/Refine Strategy Budget & Measurement 1 2 4 5 6
  • 14. 14MARKETING STRATEGY Ensuring there is a brand plan that integrates with your marketing strategy Leveraging your brand effectively throughout the firm Total customer accounts New accounts Key accounts Retention Revenue or profit per customer Current Brand Status Current Customer Status STEP 3 STEP 4 Action Item Action Item Use the Brand Assessment Tool to perform an in-depth analysis of your brand. Conduct this assessment regardless of whether Brand Equity is a strength based on your SWOT analysis. Even if you do not use a CRM system to manage customer relationships, use the CRM Program Metrics Dashboard to develop, track, and analyze key customer metrics. This assessment will help in a later stage of this playbook by: Here are some customer metrics you may wish to include in your dashboard/assessment: V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E Introduction Assess Current Situation 3Corporate Values Vision Objectives Create/Refine Strategy Budget & Measurement 1 2 4 5 6
  • 15. 15MARKETING STRATEGY How well prepared are you for the forces of change affecting your industry? Which strategies and tactics should you avoid because they are destined to fail for reasons beyond your control? This tool looks at your competitive playing field at the corpo- rate level. We recommend deferring the product analysis to the Product Marketing Plan process. However, if you need to conduct an assessment of competitive products immediately, use the Competitive Analysis Tool. Current Industry Status Current Competitive Situation STEP 5 STEP 6 Action Item Action Item Use the STEP Industry Analysis Tool (also referred to as PEST) to analyze your industry from social, technological, economic, and political perspectives. Use the Competitor Analysis Template to assess the competitive playing field in your industry. The STEP analysis considers the following: V I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C EV I E W R E S O U R C E The scope of the SWOT analysis completed in Step 2 is the state of your business. Introduction Assess Current Situation 3Corporate Values Vision Objectives Create/Refine Strategy Budget & Measurement 1 2 4 5 6
  • 16. Objectives STAGE 4 To this point, you’ve done in-depth research and analysis in preparation for setting objectives and developing your Marketing Strategy. In this Stage, you’ll determine what you want to accomplish – your objectives. In the next Stage, you’ll determine how to accomplish these objectives. You’ll use the insights you’ve gained from the first three Stages of this playbook to guide your efforts. In this Stage, you will deal with two sets of objectives: STEP 1: Business Objectives STEP 2: Marketing Objectives MARKETING STRATEGY
  • 17. 17MARKETING STRATEGY Introduction Objectives 4 Maximize profit Grow market share Increase shareholder value Business Objectives Marketing Objectives STEP 1 STEP 2 Action Item Action Item Ensure your understanding of your firm’s business objec- tives. If your firm’s business objectives are unknown or undocumented, use the Balanced Scorecard Strategy Map to identify and document them. Determine what you want to accomplish with the Marketing Strategy you are developing. Use the Marketing Strategy Scorecard to document these objectives. In some cases, business objectives and marketing objectives are one and the same. Typically, marketing objectives are a subset of business objectives, contain more detail and are more refined. Examples of common business objectives are: Examples of how business objectives can drive marketing objec- tives are provided below: V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E Corporate Values Vision Assess Current Situation Create/Refine Strategy Budget & Measurement 1 2 3 5 6 Business Objective Marketing Objective Maximize profits Increase market penetration of current products in current markets Improve customer retention Grow market share Develop new markets for existing products
  • 18. Create/Refine Strategy STAGE 5 In this Stage, you will articulate coherent actions that achieve your objectives – your strategy – in each of the following areas: markets, products, communications, infrastructure. STEP 1: Markets and Products STEP 2: Market Plan STEP 3: Products STEP 4: Brand Strategy STEP 5: Partnerships & Alliances STEP 6: Communications STEP 7: Infrastructure MARKETING STRATEGY
  • 19. 19MARKETING STRATEGY Introduction Create/Refine Strategy 5 Market penetration: lowest risk Product development: moderate risk Market development: moderate risk Product diversification: highest risk What is your market share? Who is the market leader? How accessible are these new markets? What size is the market potential? Do these markets know you have solutions that can solve problems they are having? Markets and Products Market Plan STEP 1 STEP 2 Action Item Action Item Based on the assessment of your situation completed in Stage 3 and your objectives from Stage 4, determine which markets to pursue and with which products. Use the Market Requirements Document to analyze opportunity in your chosen market(s). Consider the risk for each of these strategies: For current markets, consider: For new markets, consider: Market Penetration Product Development Market Development Product Diversification Current Current New NewProducts Markets V I E W R E S O U R C E Corporate Values Vision Assess Current Situation Objectives Budget & Measurement 1 2 3 4 6
  • 20. 20MARKETING STRATEGY STEP 3 STEP 4 Brand Strategy Brand Alignment Brand Communication Brand Execution Products Brand Strategy Action Item Action Item Put a product strategy in place to support the choice you made in Step 1 of this Stage. If your strategy calls for using current products, use the Product Marketing Plan to develop a marketing plan for them. If your strategy calls for developing new products, use the Product Development Strategy to develop market-driven solutions. Review the results of the Brand Assessment you completed in Step 3. Include in your Marketing Strategy a plan to implement the recommendations from this assessment. The Brand Assessment recommendations fall into these categories: Use the Brand Strategy Scorecard to  document your branding objectives, initiatives, measures, and targets. S TA R T L E A R N I N GV I E W R E S O U R C E S TA R T L E A R N I N GV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E Introduction Create/Refine Strategy 5Corporate Values Vision Assess Current Situation Objectives Budget & Measurement 1 2 3 4 6
  • 21. 21MARKETING STRATEGY STEP 5 STEP 6 What are the goals of your partnering strategy? How effective are your current partnerships and how do you measure this? What gaps exist in your current line-up of partners? What can your partners do that you cannot? Partnerships & Alliances Communications Action Item Action Item Visit the Partnerships & Channels section of our website for a full set of tools and resources to help evaluate, measure and manage your partnerships and partnering strategy. Develop a Marketing Communications Plan to support this strategy and the Product Marketing plans you created in Step 3 of this Stage. Your Marketing Communications Plan will provide detail on: What needs communicating Who needs to receive the communication (Internal and External audiences) Which communications channels to use When the communications need to occur Determine whether you have the right set of partnerships and alli- ances in place to support your strategy. Ask yourself the following questions: V I E W W E B S I T E Introduction Create/Refine Strategy 5Corporate Values Vision Assess Current Situation Objectives Budget & Measurement 1 2 3 4 6
  • 22. 22MARKETING STRATEGY STEP 6 (cont.) STEP 7 Events Public Relations Advertising Technology (Examples: CRM or Marketing Automation systems) Processes (Examples: Sales or Lead Nurturing processes) People (Examples: Staffing, performance reviews, hiring, job descriptions or leadership development) Communications Infrastructure Action Item Action Item In the classic 4 P’s of Marketing – Product, Price, Place and Promotion – the Marketing Communications Plan is primarily concerned with Promotion. Identify the infrastructure requirements to support this marketing strategy. The Marketing Communications Plan is often quite detailed and includes all communications through all channels such as: These requirements often fall into one of the following areas (click links to see related resources): V I E W R E S O U R C ES TA R T L E A R N I N GV I E W R E S O U R C E V I E W W E B S I T E Social Media Web and Online Helpful Hint – Use the MarCom Plan Playbook to help you outline your communications strategy. Introduction Create/Refine Strategy 5Corporate Values Vision Assess Current Situation Objectives Budget & Measurement 1 2 3 4 6
  • 23. Budget & Measurement STAGE 6 With the major elements of your Marketing Strategy in place as a result of Stages 1-5, you will finish this process by considering the budget and how you will measure your strategy’s results. In this Stage, you will make sure you have a consolidated, comprehensive view of the budget required to support this strategy, and ensure that the right metrics and tracking mechanisms are in place. STEP 1: Consolidate Your Budget STEP 2: Fine Tune your Dashboard MARKETING STRATEGY
  • 24. 24MARKETING STRATEGY Introduction Budget & Measurement 6 Product Marketing Plan budget(s) Marketing Communications Plan budget Marketing Strategy budget items not included in the above, such as Infrastructure (Stage 5, Step 7) Ensure that the measurement systems are in place to track progress toward these objectives Consider other measurements you should add to ensure your strategy is effective Consolidate Your Budget Fine Tune your Dashboard STEP 1 STEP 2 Action Item Action Item Review the Balanced Scorecard Strategy Map from Stage 4, Step 1 and the Marketing Strategy Scorecard from Stage 4, Step 2. Make any necessary changes to your Balanced Score- card Strategy Map to include the appropriate elements of this Marketing Strategy. Finally, use the Key Marketing Metrics Dashboard to define, track, and report on key metrics. Your marketing strategy budget will include: Carefully review the metrics and systems for capturing them: The Product Marketing Plans (Stage 5, Step 3) and the Marketing Communications Plan (Stage 5, Step 6) both include budgetstosupportthem.UseourMarketingBudgetTemplate to consolidate individual budgets into one master budget. V I E W R E S O U R C EV I E W R E S O U R C E V I E W R E S O U R C EV I E W R E S O U R C E Corporate Values Vision Assess Current Situation Objectives Create/Refine Strategy 1 2 3 4 5
  • 25. Conclusion At the end of any business process, it’s always a good idea to review it and identify areas for improvement. Demand Metric has the tools and expertise to help you build an effective Marketing Strategy Plan Create or audit your marketing strategy plans Assist with using any of the tools referenced in this playbook Provide hands-on marketing assistance to accelerate achieving your marketing department’s goals. To learn more, contact Demand Metric: info@demandmetric.com MARKETING STRATEGY “However beautiful the strategy, you should occasionally look at the results.” SIR WINSTON CHURCHILL
  • 26. About This Playbook MARKETING STRATEGY Demand Metric is a marketing research and advisory firm serving a membership community of over 106,000 marketing professionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com
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