Marketing Strategy

1 Business and Marketing

Strategies

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Marketing orientation

Market Oriented Organization: understands buyers’ needs and wants and effectively combines and directs the skills and resources of the entire organization to provide high levels of satisfaction to its customers.

Marketing includes all the actions of the organization that are aimed at providing customers with superior value.

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Marketing Orientation – Gaining Competitive Advantage

Gaining Competitive advantage – knowing consumer needs and competition.

Lower prices than competitors for the same benefits or/and unique benefits that can offset a higher price.

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Marketing Orientation

Customer Focus: the philosophy of identifying and satisfying customers.

Competitor Intelligence: importance of understanding competition.

Interfunctional coordination: all business functions working together to provide customer value.

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Strategic Marketing Process

1. Marketing Situation Analysis

2. Designing Marketing Strategy

3. Marketing Program Development

4. Implementing and Managing Marketing Strategy.

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The Strategic Marketing Process - Marketing Situation Analysis

Identifies Opportunities Analyzing Markets: People with specific needs to a

product/service Analyzing competition: evaluation of competitors’

strategies, strengths, limitations and plans Segmenting Marketing: The organization can

focus its business capabilities on the requirements of one or more groups of buyers (Homogeneous segments)

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The Strategic Marketing Process - Designing Marketing Strategy

Market Targeting and Positioning Strategy: people or organization to serveSetting of objectives (sales, market share, profits, increasing satisfaction, advertising awareness) Positioning Strategy: combination of products, channels of distribution, price and promotion strategies used to position itself in the target market (marketing mix)

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The Strategic Marketing Process - Designing Marketing Strategy (cont/d)

Marketing Relationship: ensure customer satisfaction through collaboration with the parties involved.

New Product Strategies: developing new products to replace old because of declining sales and profits.

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The Strategic Marketing Process - Marketing program Development

Objective is to achieve favorable positioning while allocating financial, human and production resources to markets and products as effectively and efficiently as possible.

Managing the Marketing Mix is deciding how to blend together the components of the marketing mix. Product/Service StrategyDistribution, Price, and Promotion Strategies.

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The Strategic Marketing Process - Implementing and Managing Marketing Strategy Design of the Marketing organization and

implementation and control of the strategy. Marketing Organization: Deciding on people and allocating work responsibility. Organization Design needs to be evaluated on a regular basis.

Preparing the Marketing Plan (targeting, positioning marketing mix)

Implementation Strategy: who does what, dates and location of implementation

Evaluation and Control: On-going process, making decisions, implementing and evaluating their effectiveness.