Developing Marketing Strategies and a Marketing Plan
1. MARKETING ?
“MARKETING IS THE ACTIVITY,
SET OF INSTITUTIONS, AND
PROCESSES FOR CREATING,
CAPTURING, COMMUNICATING,
DELIVERING, AND EXCHANGING
OFFERINGS THAT HAVE VALUE FOR
COSTUMERS, CLIENTS, PARTNERS,
AND SOCIETY AT LARGE.”
So what exactly is
3. WHAT IS A MARKETING STRATEGY ?
A marketing strategy identifies:
1.) A firm’s target markets
2.) A related marketing mix (the four P’s)
3.) The bases on the firms plans to build a sustainable competitive advantage
4. SUSTAINABLE COMPETITIVE ADVANTAGE
“A Sustainable Competitive Advantage, is an advantage over the competition
that is not easily copied and can be maintained over a long period of time.”
5. THE FOUR P’S
1.) Customer Excellence
2.) Operational Excellence
3.) Product Excellence
4.) Locational Excellence
6. BREAKING DOWN THE FOUR P’S
1.) Customer Excellence: “Focuses on retaining loyal customers and excellent
customer service”
7. BREAKING DOWN THE FOUR P’S
2.) Operational Excellence: “Achieved through efficient operations and excellent
supply chain and human resource management.”
8. BREAKING DOWN THE FOUR P’S
3.) Product Excellence: “ Having products with high perceived value and
effective branding and positioning.”
9. BREAKING DOWN THE FOUR P’S
4.) Locational Excellence: “ Having a good physical location and internet
presence.”
10. THE MARKETING PLAN
“Effective marketing doesn’t just happen”
“ A Marketing Plan is a written document composed of an analysis of the current marketing
situation, opportunities and threats for the firm, marketing objectives, and strategy specified
in terms of the four P’s, action programs, and projected or pro forma income (and other
financial statements)
Three phases of the Marketing Plan:
1.) Planning
2.) Implementation
3.) Control