1. Strategic Marketing Foundations of strategic marketing Chapter one

2. Foundations of strategic marketing Introduction Defining the org’s business, mission, and goals Identifying org’al growth opportunities: SWOT, Formulating product marketing strategies Budgeting, marketing, financial, and production resources. Developing formulation and recovery strategies. Drafting marketing plan

3. Foundation of strategic mkt Marketing ethics and social responsibility Marketing plan

4. Introduction The primary purpose of marketing? Mkt manger from an implementer into a maker of org strategy. This led to CMO position. From a reactive into more proactive role in the org.

5. Strategic marketing management consists of: Defining the org’s business, mission, and goals. 1- business definition: what business or businesses are we in? define your business based on your customer needs. Redefine your business, reinvent your business and your marketing strategies.

6. 2- business mission: a mission underscores the scope of an org’s operation apparent in its business definition and reflects mgt’s vision of what the org seeks to do. Org purpose with reference to its customers. Mission statement? Try to formulate a business mission? As teams. Check the ones in page 3. Vision and mission?

7. 3- goals: converting the mission into actions and outcomes to be achieved within a specified period of time. Your company’s mission might for example emphasizes innovation and creativity. 30% of your annual revenues would come from products that are less than 4 years old. We have: production goals, financial goals, and marketing goals. They must be in a alignment.

8. Identifying org’al growth opportunities: SWOT Converting environmental opportunities into orgal opportunities. 1- what might we do? – opps in the environment 2- what do we do best?- distinctive competencies. 3- what must we do?- key success factors. The three in tandem

9. Formulating product marketing strategies 1- market penetration strategy- existing offerings for existing markets. 2- market development strategy- existing offerings for new markets 3- product development strategy- new offerings for existing markets 4- diversification- new offerings for new markets

10. Market penetration strategy Using the 4 ps to dominate the current market. Consider the market development. For example, is the market developing and growing for LCD screens if not then head on or head to head competition might only benefit the customer- how?

11. Market development strategy Current offerings for new markets. Chinese companies are using the 4ps to market their brands world wide via different levels of quality and different prices. Be aware of environmental threats and opps and the strengths and weaknesses in this strategy. Forms of MDS: exporting, licensing, joint ventures, and direct investment.

12. Product development strategy New offerings for current markets. Via 1- product innovation 2- product augmentation and product enhancement 3- product line extension. Bundle (to back age).

13. Diversification Risky strategy. There need to be a linkage between market success factors or requirements of the company and its distinctive competencies. Procter and Gamble was successful in using such strategy.

14. Product market selection Depends on analyzing the different environmental factors, sowt analysis, Cost benefit analysis of the different strategies is important using simple decision tree diagram or format.

15. The marketing mix and customer value proposition The marketing mix and customer value proposition. Premium value or economy value will create the right value proposition for your customers? Formulating the marketing mix You need to be good at formulating the marketing mix depending on your success requirements.

16. Implementing the marketing mix Requirements: 1- understanding of the markets 2- understand environmental forces 3- org capacity Marketing mix activities with respect to competitor’s reaction.

17. The fourth stage Budgeting, marketing, financial, and production resources.

18. Number five: reformulation and recovery strategies. Number 6: marketing plan Next is chapter 3 mkt decision making and case analysis