Marketing chapter 2
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  • 1. Chapter 2 : COMPANY AND MARKETING STRATEGY : PARTNERING TO BUILD CUSTOMER RELATIONSHIPS
  • 2. Strategic planning : Process of developing and maintaining strategic fit between the organization’s goal and capabilities
  • 3. 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 …………….………………………
  • 4. 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.
  • 5. 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
  • 6. 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.
  • 7. Business portfolio involve two steps: 1. Analyzing the current business portfolio. 2. Developing strategies for growth and downsizing
  • 8.  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.
  • 9. Market penetration Market development Product development Diversification
  • 10. 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.
  • 11. i. Partnering with Other Company Departments. ii. Partnering with Others in the Marketing System
  • 12.  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.
  • 13. ● 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.
  • 14. ● To succeed in today’s competitive marketplace, companies must first understand customer needs and wants. ● The process involves :  Market segmentation  Market targeting  Differentiation  Positioning
  • 15. 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.
  • 16.  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.
  • 17. • 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.
  • 18. MANAGING MARKETING : Analysis,Planning,Implementat ion & Control
  • 19. Use SWOT Analysis. S = strengths W = weaknesses O = opportunities T = threats
  • 20. 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.
  • 21. 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.
  • 22. 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.
  • 23.  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.
  • 24. Product Management Organization Manager of PMO develops and implements a complete strategy and marketing program for a specific product or brand.
  • 25. Market / Customer Management Organization Market managers are responsible for developing marketing strategies and plans for specifics market or customers
  • 26.  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.