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Partnering to Build Customer Relationships

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Company and Marketing Strategy: Partnering to Build Customer Relationships

Company and Marketing Strategy: Partnering to Build Customer Relationships

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  • Very helpful to prepare some teaching notes to under non-biz student.
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  • 1. Company and Marketing Strategy: Partnering to Build Customer Relationships Chapter 2
  • 2. Learning Goals
    • Explain strategic planning
    • Describe business portfolios and growth strategies
    • Detail marketing’s role in strategic planning
    • Describe elements of customer-driven marketing strategy
    • List the marketing management functions
  • 3.
    • Disney has grown via diversification.
    • Originally known for films, animation, theme parks.
    • Satisfying the customer is everyone’s job.
    Case Study Disney –What are its challenges?
    • Discussion Questions
    • Has Disney grown too large?
    • Will consumers accept new Disney businesses?
  • 4. What is Strategic Planning?
    • Strategic Planning Defined:
      • The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
    Goal 1: Explain strategic planning
  • 5. Marketing Management
    • A mission statement asks..
      • What is our business?
      • Who is the customer?
      • What do consumers value?
      • What should our business be?
    • A mission statement should be:
      • An “invisible hand”
      • Neither too narrow nor too broad
      • Fitting of market environment
      • Based on distinctive competencies
      • Motivating
    Market-Oriented Mission Goal 1: Explain strategic planning
  • 6. The Business Portfolio
    • A business portfolio is the collection of businesses and products that make up the company
    • Business portfolio planning involves two steps:
      • Analyzing the current business portfolio
      • Shaping the future portfolio by developing strategies
    Goal 2: Describe business portfolios and growth strategies
  • 7. Marketing Management
    • Build
      • Increase market share
      • Works well for question marks
    • Hold
      • Preserve market share
      • Good for cash cow
    • Harvest
      • Increases short-term cash flow
      • Good for weak cash cows, question marks and dogs
    • Divest
      • Sell or liquidate
      • Good for dogs and question marks
    Analyzing the Current Business Portfolio Goal 2: Describe business portfolios and growth strategies
  • 8. Marketing’s Role in Strategic Planning
    • Provide a guiding philosophy
    • Identify attractive opportunities
    • Design effective strategies
    • Build strong value chains
    • Form superior value delivery networks
    Goal 3: Detail marketing's role in strategic planning
  • 9.
      • Customers grouped by:
        • Geographic
        • Demographic
        • Psychographic
        • Behavioral
      • Market segment is a groups of consumers who respond in similar ways to marketing efforts.
    Marketing Strategy
    • Market Segmentation
    • Target marketing
    • Market Positioning
    Strategy Goal 4: Describe elements of customer-driven strategy
  • 10.
      • Evaluation of each segment’s attractiveness
      • Selection of segments with greatest long-term profitability
      • A company can choose one or several segments to target
    Marketing Strategy Strategy Goal 4: Describe elements of customer-driven strategy
    • Market Segmentation
    • Target marketing
    • Market Positioning
  • 11.
      • The place the product occupies in the consumer’s mind
      • Products are positioned relative to competing products
      • Marketers look for clear, distinctive and desirable place in positioning
    Marketing Strategy Strategy Goal 4: Describe elements of customer-driven strategy
    • Market Segmentation
    • Target marketing
    • Market Positioning
  • 12. Marketing Mix
    • The marketing mix includes controllable and tactical marketing tools knows as the 4P’s
    • The 4P’s include
        • Product
        • Place
        • Promotion
        • Price
    Goal 4: Describe elements of customer-driven strategy
  • 13.
      • Finding opportunities
      • Avoiding threats
      • Understanding strengths
      • Analyzing weaknesses
    Managing the Marketing Effort Goal 5: List the marketing management functions
    • Analysis
    • Planning
    • Implementation
    • Control
    Marketing Functions
  • 14.
      • Marketing plans include:
        • Executive summary
        • Analysis of current situation
        • Objectives
        • Targets and positioning
        • Marketing mix
        • Budget
        • Controls
    Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions
    • Analysis
    • Planning
    • Implementation
    • Control
  • 15.
      • Plans are turned into action with day-to-day activities
      • Good implementation is a challenge
    Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions
    • Analysis
    • Planning
    • Implementation
    • Control
  • 16.
      • Evaluation of the results of marketing strategies
      • Checks for differences between goals and performance
    Managing the Marketing Effort Goal 5: List the marketing management functions Marketing Functions
    • Analysis
    • Planning
    • Implementation
    • Control
  • 17. Measuring Effectiveness
    • Return on marketing (marketing ROI)
      • The net return from a marketing investment divided by the costs of the investments
    Goal 5: List the marketing management functions