Transcript The Marketing Strategy Process

The Marketing Strategy Process
Analysis
External Analysis
Environmental
analysis
Competitive analysis
Market analysis
Customer analysis
Internal Analysis
Performance
analysis
Determinants of
strategic options
Environmental Scanning
Where the market is currently.
Planning
Implementation
Control
S.W.O.T.
Where the organization is currently.
Strategy Identification & Selection
Product market investment options
Functional area strategies
Developing a strategic plan
Execute Strategy
Strategic Marketing
Tactical Marketing
(Marketing Mix 4Ps)
Evaluate Performance & Undertake
Corrective Actions
Summary of the SWOT Analysis
The organization’s competitive
advantage is built from it’s strengths as
a company (marketing plan deliverable
1 & 2).
Barriers to effectively executing the marketing
plan (marketing plan deliverable 1).
A firm’s competitive analysis is rooted in the
threats it faces (marketing plan deliverable 1)
A firms segmentation and branding
strategies are derived from the research in
this area (marketing plan deliverable 2)
A firms marketing strategy is rooted in the
opportunities available to the firm
(marketing plan deliverable 1).
Segmentation
The Total Market = All Customers
Customers to be Targeted
The 3 Question Test for Market Segment
Identification
*You must answer yes to all four questions to have a good segment.
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An effective segment must meet the following criteria.
1. The segment must be measurable.
- Be able to count or obtain a quantitative measurement.
2. The segment must be reachable through promotion and
distribution.
- The segment must be reachable through modern media outlets.
3. It must be consistent with the Strategic Mission of the Firm.
- There must be a demand for the firms product, and the firm must
be able to service the segment after the sale.