1. What does Marketing Strategist Do?

2. Acts Strategically! 1. Develops Corporate Strategy: – Identify which products to offer? – Identify which markets (needs or customers or both) to serve? 2. Develops Product Mix Strategy: – Determine what each product should contribute to the firm (profitability, volume, stability non financial) – Determine how resources should be allocated across products

3. Factors Influencing Corporate Strategy Considers Environmental Threats and Opportunities Corporate Mission and Objectives Organizational Strengths and Weaknesses

4. Growth Strategy Current Markets:Definition: Market PenetrationIncrease sales of existing products in current markets Product DevelopmentDevelop new products for existing markets Vertical IntegrationBackward (supplier) Forward (intermediary) Growth Strategy New Markets:Definition: Market Development/Bring current products to new markets Market ExpansionMove into new geographic area DiversificationMove into New products & New markets Consolidation Strategy:Definition: RetrenchmentWithdraw from weak markets PruningReduce the number of products in a market DivestmentSells off part of its business Selects:

5. Determines Product Mix Strategy Way to establish priorities among products and business with which organization is involved