marketing chapter 2
Post on 14-Sep-2014
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marketingTRANSCRIPT
Chapter 2 :COMPANY AND MARKETING STRATEGY :
PARTNERING TO BUILD CUSTOMER RELATIONSHIPS
COMPANYWIDE STRATEGIC PLANNING:
DEFINING MARKETING’S ROLE
Strategic planning : Process of developing and maintaining strategic fit between the organization’s goal and capabilities
STEP IN STRATEGIC PLANNING
Planning marketing and other function
strategies
Designing
business portfolio
Setting compan
y objective and goal
Defining company mission
Corporate Level
Business Unit,
Product, and market
strategies……
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i. DEFINING A MARKET-ORIENTED MISSION
Mission statement:
statement of the organization purpose. market oriented and defined in terms of satisfying basic customer needs.should be meaningful and specific yet motivating.
II. SETTING COMPANY OBJECTIVE AND GOALS
Business Objectives- To build profitable customer relationships- Investing heavily in research- Heavy investment must funded the improved profit
Marketing Objectives- Increase market share- Increase product availability and promotion
III. DESIGNING THE BUSINESS PORTFOLIO
Business Portfolio- Collection of businesses and product that make up
the company.- Is the one that best fits the company strengths and
weaknesses to opportunities in the environment.
Portfolio Analysis- Process by which management evaluates the
products and businesses that make up the company.
CONT…
Business portfolio involve two steps:
1. Analyzing the current business portfolio.
2. Developing strategies for growth and downsizing
BOSTON CONSULTING GROUP APPROACH
PROBLEM WITH MATRIX APPROACH
Difficult to define SBUs and measure market share and grows
time-consuming Costly to implement Focus on classifying current business, provide
little advise for future planning.
PRODUCT / MARKET EXPANSION GRID
Market penetration
Market developmen
t
Product development Diversification
Product / market expansion grid : a portfolio- planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification.
Market penetration : company growth by increasing sales of current products to current market segments without changing the product.
Market development: Company growth by identifying and developing new market segments' for current company products.
Product development: Company growth by offering modified or new products to current market segments.
Diversification : Company growth through starting up or acquiring businesses outside the company’s products and markets.
PLANNING MARKETING: PARTNERING TO BUILD CUSTOMER RELATIONSHIP
i. Partnering with Other Company Departments.
ii. Partnering with Others in the Marketing System
Value Chain : The series of internal departments that carry out value-creating activities to design, produce, market, deliver and support a firm’s products.
Value delivery Network : The network made up of the company, its suppliers, its distributors and ultimately, Its customers who partner with each other to improve the performance of the entire system.
MARKETING STRATEGY AND THE MARKETING MIX
● The marketing logic by which the company hopes to create customer value and achieve profitable customer relationship.
● The company designs an integrated marketing mix made up of factors under its control such as product, price, place and promotion.
CUSTOMER-DRIVEN MARKETING STRATEGY
● To succeed in today’s competitive marketplace, companies must first understand customer needs and wants.
● The process involves : Market segmentation Market targeting Differentiation Positioning
MARKET SEGMENTATION
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and might require separate products or marketing programs
Market segment : a group of consumers who respond in a similar way to a given set of marketing efforts.
Market targeting : The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
Positioning : Arranging for a product to occupy a clear, distinctiveand desirable place relative to competing products in the minds of target consumers.
Differentiation : Actually differentiating the market offering to create superior customer value.
DEVELOPING AN INTEGRATED MARKETING MIX
• Marketing mix : the set of tactical marketing tools that the firm blends to produce the response it wants in the target market.
product – the goods and services combination the company offers to the target market. Price – the amount of money customers must pay to obtain the product. Place – company activities that make the product available to target customers. Promotion – activities that communicate the merits of the product and persuade target customers to buy it.
MANAGING THE MARKET EFFORTMANAGING MARKETING :
Analysis,Planning,Implementation & Control
MARKETING ANALYSIS
Use SWOT Analysis. S = strengths W = weaknesses O = opportunities T = threats
MARKETING PLANNING
Marketing StrategiesSpecifict strategies for target markets,positioning,the marketing mix and marketing expenditures levels.
Marketing BudgetsOutlines that used to control monitor progress,measure return on marketing investment and take corrective action.
MARKETING IMPLEMENTATION
Is the process turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.
Marketing planning addresses the what and why the marketing activities,implementation addresses the who,where,when and how.
MARKETING DEPARTMENT ORGANIZATION
Design marketing organizatios that can carry out marketing strategies and plans.
Example ;Chief marketing officers(CMO)
position : head up the company marketing operations & represent marketing on the top management team.
WAYS OF MARKETING DEPARTMENT
Functional Organization
Handle different marketing activities by specialities a sale manager,advertising manager,marketing research manager,customer services manager & new product manager.
Geographic Organization
Sales and marketing people assigned to specifics country,regions and districts.
Product Management Organization
Manager of PMO develops and implements a complete strategy and marketing program for a specific product or brand.
Market / Customer Management Organization
Market managers are responsible for developing marketing strategies and plans for specifics market or customers
MARKETING CONTROL Measuring & evaluating the results of marketing
strategies and plans and taking corrective action to ensures that the objectives are achieved.
Operating Control Checking ongoing performance against the
annual plan and taking corrective action when necessary.
Strategic Control Looking at wheter the company’s basic
strategies are well matched to its opportunity.
MEASURING & MANAGING RETURN ON MARKETING INVESTMENT
THE END…..
THANK YOU