2. Strategic Determining the primary objectives then adopting courses of action Long term plans Top management involved Tactical Specific activities Shorter term – quarterly or semi annually Middle management Operational Daily and weekly plans Supervisors Strategic vs. Tactical Planning
3. Implementing planning activities devoted to achieving marketing objectives Establishes the basis for any marketing strategy Marketing Planning
4. Begins at the corporate level with the Mission Statement Mission is the reason for being in business Determine Organizational Objectives Example: 12% increase in sales by 2014 Assessing Organizational Resources & Evaluate Risks and Opportunities SWOT Analysis Strategic Window Steps in the Marketing Process
5. The idea that the first company to offer a product in a marketplace will be the long-term market winner. Second Mover Strategy They observe first movers, and improve on them 1st Mover Strategy
6. Target Market The group of people toward whom the firm decides to direct its marketing efforts, goods, and services How does a company satisfy their target market? Elements of a Marketing Strategy
7. Marketing Mix Variables Product Strategy The good, service or idea The package design, brand name, warranties First mover Strategy Distribution Strategy Modes of transportation, selection of marketing channel Technology has opened new channels of distribution
8. Marketing Mix Variables Promotional Strategy Messages through salespeople, ads, or other promotions Must match the target market Pricing Strategy Setting profitable and justifiable prices Subject to public scrutiny
Editor's Notes
Strategies used by Target on pages 32-33 (14th ed.)
1st Mover – apple I-tunes2nd Mover – Target watches Wal-Mart
Critical Thinking ExerciseDiscuss and then record ‘Strategic’ vs. ‘Tactical’ Plans Define and record the ‘Target Market’ for SCCCDiscuss and record three strategic and then three tactical plans for SCCC
