Movies – entertainment Cars – transportation Cosmetics - hope
Scope – industry, product and applications,competence,market segment,vertical,geographical
Marketing Process & Strategic Marketing Planning II Module BBA
Marketing Process Model Understanding the market place and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior values Build profitable relationships and create customer delight Capture value from customers to create profits and customer equity
It is the managerial process that helps to develop a strategic and viable fit between the firm’s objectives, skills, resources with the market opportunities available. It helps the firm deliver its targeted profits and growth through its businesses and products.
Differentiate the products in some way in order to compete successfully.
A differentiation strategy is appropriate where the target customer segment is not price-sensitive, the market is competitive or saturated, customers have very specific needs which are possibly under-served, and the firm has unique resources and capabilities which enable it to satisfy these needs in ways that are difficult to copy.
The firm can choose to compete in the mass market (like Wal-Mart) with a broad scope, or in a defined, focused market segment with a narrow scope
The firm typically looks to gain a competitive advantage through product innovation and/or brand marketing rather than efficiency. A focused strategy should target market segments that are less vulnerable to substitutes or where a competition is weakest to earn above-average return on investment.
The contents and structure of the marketing plan
It consists of people , equipment and procedures to gather , sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers
Marketing Information System Process Analysis Planning Implementation Control Marketing Environment Target Markets Marketing Channels Competitors Publics Macro environment Forces Assessing Information Needs Distributing & Using Information Marketing Information System Internal database Marketing Intelligence Marketing Research Information analysis Marketing Managers and other info users Developing Needed Information