Transcript What is Marketing?

Marketing Strategy and
Management
Marketing Strategy and Management
 Introduction
 Strategic Market Planning
 SWOT Analysis
 Mission Statement
 Organizational Goals
 Corporate Strategy
 Marketing Planning
 Marketing Management
Marketing Strategy and Management
 Introduction:
 It is necessary to discuss strategic market planning and
marketing early in the course. A strategic market plan
gives direction to a firm's efforts and better enables it to
understand the dimensions of marketing research,
consumer analysis, and product, distribution,
promotion, and price planning, which will be discussed
in later classes.
Marketing Strategy and Management
 Strategic Market Planning
 A Strategic marketing plan is an outline of the methods and resources
required to achieve organizational goals within a specific target
market(s).
 "Describes the direction [an organization] will pursue within its chosen
environment and guides the allocation of resources and effort" - Peter
Bennett, Dictionary of Marketing Terms, AMA 1988
 Strategic planning requires a general marketing orientation rather than
a narrow functional orientation.
 All functional areas must include marketing and must be coordinated
to reach organizational goals. It is a heirarchal process, from company
wide to marketing specific. (Marketing concept, implemented from top
down.)
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Marketing Strategy and Management
 SWOT Analysis - examines the companies:
 Strengths...Internal
 Weaknesses...Internal
 Opportunities...External
 Threats...External
 By developing a SWOT analysis, a company can
determine what its distinctive competencies are. This
will help determine what the organization should be in
business for, what its mission should be.
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Marketing Strategy and Management
 Lets Do A SWOT Analysis.
 With a partner pick a company and review the
company’s:
 Strengths
 Weaknesses
 Opportunities
 Threats
Marketing Strategy and Management
 Mission Statement:
 The mission or purpose of the company identifies the
nature of the business or the reasons the business
exists.
 "Sell good merchandise at a reasonable profit, treat
your customers like human beings and they will always
come back for more." L.L.Beans
Marketing Strategy and Management
 Organizational goals
 Organizational goals are derived from the mission,
corporate strategy is derived from the organizational
goals.
 Goals must specify the end results that are desired,
that are measurable and within a particular time frame.
Marketing Strategy and Management
 Corporate strategy is concerned with issues such as
diversification, competition, differentiation,
interrelationships between business units and
environmental issues. It attempts to match the
resources of the organization with the opportunities and
risks of the environment (SWOT). Corporate strategy is
also concerned with defining the scope and roles of the
SBU's of the firm so that they are coordinated to reach
the ends desired.
Marketing Strategy and Management
 Corporate Strategy
 Issues include:
 Scope of Business-----What Business you are in??
 Resource deployment----How you are going to use your resources??
 Competitive advantage----What are your competitive advantages??
 Coordination of Production, Marketing, Personnel etc.--- Coordination process??
 Tools for strategic market planning
Marketing Strategy and Management
 Marketing Planning.
 Marketing plans vary by: Duration, Scope and Method of Development,
bottom up/top down
 Objective is to create a Marketing plan. A plan for each marketing strategy
developed.
 Marketing strategy encompasses selecting and analyzing the target
market(s) and creating and maintaining an appropriate marketing mix that
satisfies the target market and company. A Marketing strategy articulates
a plan for the best use of the organizations resources and tactics to meet
its objectives. Do not pursue projects that are outside the companies
objectives or that stretch the companies resources.
Marketing Strategy and Management
Marketing Strategy and Management
 BCG Product Portfolio Management
 Star
 Cash Cow
 Problem Child (Question Marks)
 Dog