Marketing Strategy and Management

Marketing Strategy and Management Introduction Strategic Market Planning SWOT Analysis Mission Statement Organizational Goals Corporate Strategy Marketing Planning Marketing Management

Marketing Strategy and Management Introduction: It is necessary to discuss strategic market planning and marketing early in the course. A strategic market plan gives direction to a firm's efforts and better enables it to understand the dimensions of marketing research, consumer analysis, and product, distribution, promotion, and price planning, which will be discussed in later classes.

Marketing Strategy and Management Strategic Market Planning A Strategic marketing plan is an outline of the methods and resources required to achieve organizational goals within a specific target market(s). "Describes the direction [an organization] will pursue within its chosen environment and guides the allocation of resources and effort" - Peter Bennett, Dictionary of Marketing Terms, AMA 1988 Strategic planning requires a general marketing orientation rather than a narrow functional orientation. All functional areas must include marketing and must be coordinated to reach organizational goals. It is a heirarchal process, from company wide to marketing specific. (Marketing concept, implemented from top down.)  

Marketing Strategy and Management SWOT Analysis - examines the companies: Strengths...Internal Weaknesses...Internal Opportunities...External Threats...External By developing a SWOT analysis, a company can determine what its distinctive competencies are. This will help determine what the organization should be in business for, what its mission should be.  

Marketing Strategy and Management Lets Do A SWOT Analysis. With a partner pick a company and review the company’s: Strengths Weaknesses Opportunities Threats

Marketing Strategy and Management Mission Statement: The mission or purpose of the company identifies the nature of the business or the reasons the business exists. "Sell good merchandise at a reasonable profit, treat your customers like human beings and they will always come back for more." L.L.Beans

Marketing Strategy and Management Organizational goals Organizational goals are derived from the mission, corporate strategy is derived from the organizational goals. Goals must specify the end results that are desired, that are measurable and within a particular time frame.

Marketing Strategy and Management Corporate strategy is concerned with issues such as diversification, competition, differentiation, interrelationships between business units and environmental issues. It attempts to match the resources of the organization with the opportunities and risks of the environment (SWOT). Corporate strategy is also concerned with defining the scope and roles of the SBU's of the firm so that they are coordinated to reach the ends desired.

Marketing Strategy and Management Corporate Strategy Issues include: Scope of Business-----What Business you are in?? Resource deployment----How you are going to use your resources?? Competitive advantage----What are your competitive advantages?? Coordination of Production, Marketing, Personnel etc.---- Coordination process?? Tools for strategic market planning

Marketing Strategy and Management Marketing Planning. Marketing plans vary by: Duration, Scope and Method of Development, bottom up/top down  Objective is to create a Marketing plan. A plan for each marketing strategy developed. Marketing strategy encompasses selecting and analyzing the target market(s) and creating and maintaining an appropriate marketing mix that satisfies the target market and company. A Marketing strategy articulates a plan for the best use of the organizations resources and tactics to meet its objectives. Do not pursue projects that are outside the companies objectives or that stretch the companies resources.

Marketing Strategy and Management

Marketing Strategy and Management BCG Product Portfolio Management Star Cash Cow Problem Child (Question Marks) Dog