marketing strategy objectives positioning. benefits of strategy
TRANSCRIPT
Marketing Strategy
Objectives
Positioning
Benefits of Strategy
Components of Strategy
Statement of objectives
Selection of strategic alternative(s)Selection of customer targets
Choice of competitor targets
Statement of core strategyDescription of supporting marketing mix
Description of supporting functional programs
Establish generaldirection of strategy
Positioning
Implementstrategy
Marketing Goals
• Desired general accomplishments stated in vague terms.
• Indicate the direction the firm is attempting to move and the set of priorities it will use in evaluating alternatives and making decisions.
• Should be attainable and realistic.
• Should be internally consistent.
• Should be comprehensive and help to clarify the roles of all parties in the organization.
• Should involve some degree of uncertainty.
Examples of Goals
• To have the largest, best-trained sales force in the industry.
• Having the best recognized and most effective advertising campaign in the industry.
Marketing Objectives
• Provide specific and quantitative benchmarks that can be used to gauge progress toward the achievement of the marketing goals for which they are developed.
• Should be attainable with a reasonable degree of effort.
• May be either continuous or discontinuous, depending on the degree to which they depart from present objectives.– Continuous: current objectives are similar
to those in previous planning period.– Discontinuous: establish new objective or
significantly elevate the level of performance on a given outcome factor
• Should specify the time frame for their completion.
• Usually related to sales revenues, market share, profitability, or cash flow
Examples of Objectives
• The marketing department will be responsible for having 40% of customers listing this financial institution as their primary financial institution within one year.
• The sales department will increase sales 18% during the next 2 years.
Strategic Alternatives: Growth
• Market development strategies– Attract non-users– Enter new markets
Attracting non-users
Enter new markets
• Market penetration strategies– Increase purchase rate of existing
customers– Attract competitors’ customers
Increasing purchase rate
Attracting competitors’ customers
Strategic Alternatives: Profitability
Strategic Alternatives: Cash Flow
Positioning
Differentiation
Core value proposition
Genericproduct
Expectedproduct
Augmentedproduct
Potentialproduct
Primaryneeds
Articulatedneeds
Excitingneeds