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Marketing chapter 2
 

Marketing chapter 2

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    Marketing chapter 2 Marketing chapter 2 Presentation Transcript

    • Chapter 2 : COMPANY AND MARKETING STRATEGY : PARTNERING TO BUILD CUSTOMER RELATIONSHIPS
    • Strategic planning : Process of developing and maintaining strategic fit between the organization’s goal and capabilities
    • Planning marketing and other function strategies Designing business portfolio Setting company objective and goal Defining company mission Corporate Level Business Unit, Product, and market strategies …………….………………………
    • Mission statement:  statement of the organization purpose.  market oriented and defined in terms of satisfying basic customer needs. should be meaningful and specific yet motivating.
    • Business Objectives - To build profitable customer relationships - Investing heavily in research - Heavy investment must funded the improved profit Marketing Objectives - Increase market share - Increase product availability and promotion
    • Business Portfolio - Collection of businesses and product that make up the company. - Is the one that best fits the company strengths and weaknesses to opportunities in the environment. Portfolio Analysis - Process by which management evaluates the products and businesses that make up the company.
    • Business portfolio involve two steps: 1. Analyzing the current business portfolio. 2. Developing strategies for growth and downsizing
    •  Difficult to define SBUs and measure market share and grows  time-consuming  Costly to implement  Focus on classifying current business, provide little advise for future planning.
    • Market penetration Market development Product development Diversification
    • Product / market expansion grid : a portfolio- planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification. Market penetration : company growth by increasing sales of current products to current market segments without changing the product. Market development: Company growth by identifying and developing new market segments' for current company products. Product development: Company growth by offering modified or new products to current market segments. Diversification : Company growth through starting up or acquiring businesses outside the company’s products and markets.
    • i. Partnering with Other Company Departments. ii. Partnering with Others in the Marketing System
    •  Value Chain : The series of internal departments that carry out value-creating activities to design, produce, market, deliver and support a firm’s products.  Value delivery Network : The network made up of the company, its suppliers, its distributors and ultimately, Its customers who partner with each other to improve the performance of the entire system.
    • ● The marketing logic by which the company hopes to create customer value and achieve profitable customer relationship. ● The company designs an integrated marketing mix made up of factors under its control such as product, price, place and promotion.
    • ● To succeed in today’s competitive marketplace, companies must first understand customer needs and wants. ● The process involves :  Market segmentation  Market targeting  Differentiation  Positioning
    • MARKET SEGMENTATION  Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and might require separate products or marketing programs  Market segment :  a group of consumers who respond in a similar way to a given set of marketing efforts.
    •  Market targeting :  The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.  Positioning :  Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.  Differentiation :  Actually differentiating the market offering to create superior customer value.
    • • Marketing mix :  the set of tactical marketing tools that the firm blends to produce the response it wants in the target market.  product – the goods and services combination the company offers to the target market.  Price – the amount of money customers must pay to obtain the product.  Place – company activities that make the product available to target customers.  Promotion – activities that communicate the merits of the product and persuade target customers to buy it.
    • MANAGING MARKETING : Analysis,Planning,Implementat ion & Control
    • Use SWOT Analysis. S = strengths W = weaknesses O = opportunities T = threats
    • Marketing Strategies Specifict strategies for target markets,positioning,the marketing mix and marketing expenditures levels. Marketing Budgets Outlines that used to control monitor progress,measure return on marketing investment and take corrective action.
    • Is the process turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives. Marketing planning addresses the what and why the marketing activities,implementation addresses the who,where,when and how.
    • Design marketing organizatios that can carry out marketing strategies and plans. Example ; Chief marketing officers(CMO) position : head up the company marketing operations & represent marketing on the top management team.
    •  Functional Organization  Handle different marketing activities by specialities a sale manager,advertising manager,marketing research manager,customer services manager & new product manager.  Geographic Organization  Sales and marketing people assigned to specifics country,regions and districts.
    • Product Management Organization Manager of PMO develops and implements a complete strategy and marketing program for a specific product or brand.
    • Market / Customer Management Organization Market managers are responsible for developing marketing strategies and plans for specifics market or customers
    •  Measuring & evaluating the results of marketing strategies and plans and taking corrective action to ensures that the objectives are achieved.  Operating Control  Checking ongoing performance against the annual plan and taking corrective action when necessary.  Strategic Control  Looking at wheter the company’s basic strategies are well matched to its opportunity.