1. Marketing Management Process (Cont’d) Marketing managers plan and implement a sequence of activities that help the firm achieve its goals.

3. Marketing Management (cont’d.) Marketing Plans –Objectives –Problems and Opportunities –Strategies –Tactics (who, what, when)

4. Marketing Management (cont’d.) Marketing Strategies –target market –Marketing Mix Product strategy Price strategy Promotion strategy Place strategy

5. Marketing Management cont’d. Market segmentation Niches within segments Positioning within segments Copy strategies

6. Marketing Management cont’d Controllable marketing mix variables Uncontrollable variables –Physical - Competitive –Economic - International –Social –Ethics and legal

7. Marketing Management (cont’d) Marketing Concept –Walmart –Other Examples

8. Marketing Management (cont’d) Successful marketing strategies –Assets –Skills

9. Marketing Management (cont’d) Searching for SCAs Sustainable competitive advantages

10. Marketing Management (cont’d) Reputation for quality Customer service/product support Name recognition/high profile Retain good management and engineering staff Low cost production Financial resources

11. Marketing Management (cont’d) Customer orientation/feedback/market research Product-line breadth Technical superiority Installed base of satisfied customers Segmentation/focus

12. Marketing Management (cont’d) Cost strategies: Goodyear and Whirlpool Differentiation by Value: –Michelin –Maytag

13. Marketing Management (cont’d) Strategic emphasis helps firm orient themselves to key external factors such as consumers and competition.

14. Marketing Management (cont’d) Product Life Cycles –Introduction –Growth –Maturity –Decline

15. Marketing Management (cont’d) Balancing the Product Portfolio Boston Consulting Group Matrix