Foundations of strategic marketing management ppt @ bec doms

1. Foundations of Strategic Marketing Management

4. The Primary Purpose of Marketing To create long-term and mutually beneficial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts.

8. Defining the Organization’s Business, Mission, and Goals Process One

9. Business Definition By defining a business from a customer or market perspective … an organization is appropriately viewed as: a customer - satisfying endeavor a product-producing or service delivery enterprise. not

15. Identifying and Framing Organizational Growth Opportunities Process Two

18. What must we do? Success Requirements are basic tasks that an organization must perform in a market or industry to compete successfully. If what must be done is inconsistent with what can be done to capitalize on an environmental opportunity, an organizational growth opportunity will fail to materialize. Converting Environmental Opportunities into Organizational Opportunities

19. SWOT Analysis A formal framework for identifying and framing organizational growth opportunities S trengths W eaknesses O pportunities T hreats internal external

21. SWOT Analysis Pose dangers to the welfare of the organization Threats Developments or conditions in the environment that have favorable implications for the organization Opportunities What an organization lacks or does poorly relative to competitors Weakness What the organization is good at doing or a characteristic that gives it an important capability Strength

23. Formulating Product-Market Strategies Process Three

24. Diversification Market Development Market Penetration Product Development Existing products New products Existing markets New markets Product-Market Strategies

27. Licensing Exporting Joint Venture or Strategic Alliance Direct Investment Market Development in the International Arena

30. Market-penetration strategy Market-development strategy Strategy Selection – Sample Decision Tree Estimated profit of $1 million Estimated profit of $4 million Action Response Outcome Aggressive competition Passive competition Aggressive competition Passive competition Estimated profit of $2 million Estimated profit of $3 million

31. The Marketing Mix Customer Channel Strategy Product Strategy Price Strategy Communications Strategy

32. Budgeting Marketing, Financial, and Production Resources Process Four

35. Developing Reformulation and Recovery Strategies Process Five