Transcript Ch02 - Effective Marketing, 3e

CHAPTER TWO
Strategy and Ethical Behavior
Objectives
Differentiate marketing strategy & tactics
Discuss corporate, SBU, & operational marketing
planning
Understand organizational missions
Introduce total quality management
Discuss demarketing
Explain market/product matrices
Identify stages of the strategic marketing process
Describe marketing objectives & plans
Introduce positioning
Discuss ethics & social responsibility
Marketing Management:
Key Terms
Process
Goals
&
Objectives
Activities
Effective
&
Efficient
Planning
Executing
Controlling
Marketing Strategy
Objectives
Strategies
What is a Marketing
Strategy?
A Marketing Strategy consists of a plan identifying
what basic goals and objectives will be pursued and
how they will be achieved in the time available. A
strategy entails commitments to certain courses of
action and allocation of the resources necessary to
achieve the identified goals.
Planning: A Framework for
the Future
Envisioning
the future
Establishing goals
and objectives
Designing strategies and
tactics to be implemented
in the future
Levels of Management
in Planning
Corporation
Hotel
Division
Marketing
Research
Airline
Division
Sales
Top
Management
Rent-a-Car
Division
Adv. & Sales
Promotion
Middle
Management
Operational
Management
Planning: A Framework for
the Future
Corporate
plans
Top
management
SBUs
Middle
management
Operational
plans
Operational
management
Top Management: Mission
Statement
Key Questions
What business are we in?
How do we organize our
business?
What are long term
organizational goals?
Key Goals
Provides direction for the
entire direction
Supports a consumeroriented perspective
Includes a statement of
ethical credo
Middle Management: SBUs
A SBU is organized around some meaningful
common element such as….
Industry
Technology
SBU
Customer
need
Target
Market
Market/Product Matrix
MARKETS
OLD/EXISTING
OLD/EXISTING
Market
Penetration
NEW
Market
Development
PRODUCTS
NEW
Product
Diversification
Development
The Strategic Marketing
Process
1. Identify and evaluate opportunities
2. Analyze market segments and select target markets
3. Plan a market position; develop marketing mix strategy
4. Prepare a formal marketing plan
The Strategic Marketing
Process
5. Execute the plan
6. Control efforts and evaluate the results
Stage One: Identifying and
Evaluating Opportunities
Environmental change
Situation analysis
Environmental scanning and
monitoring
S.W.O.T. analysis
Organization &
opportunities matching
Stage Two: Analyzing Market
Segments & Selecting Target
Markets
Market segmentation
Target markets
Stage Three: Market
Positioning and Marketing
Mix strategy
Positioning
Developing marketing mix
Stage Four: Preparing a
Formal Marketing Plan
Stage Five: Executing the
Plan
Stage Six: Controlling
Efforts and Evaluating
Results
Supervision
Benchmarks
Adjustment
Managerial Ethics &
Socially Responsible Behavior
Managerial Ethics &
Socially Responsible Behavior
DoubleCheck
ID & Clarify
Dilemma
Gather
Facts
Act
List All
Options
Decide
Test
Options
Review
Differentiate marketing strategy & tactics
Discuss corporate, SBU, & operational marketing
planning
Understand organizational missions
Introduce total quality management
Discuss demarketing
Explain market/product matrices
Identify stages of the strategic marketing process
Describe marketing objectives & plans
Introduce positioning
Discuss ethics & social responsibility