chapter-02, marketing strategy planning

8/6/2019 Chapter-02, Marketing Strategy Planning

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Mastering MarketingMastering Marketing

CHAPTER TWOCHAPTER TWO

Marketing StrategyPlanning

CHAPTER TWOCHAPTER TWO

Marketing StrategyPlanning


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1. Understand what a marketing managerdoes.

2. Know what marketing strategy planningis--and why it will be the focus of the

book.3. Understand target marketing.

4. Be familiar with the four Ps in amarketing mix.

5. Know the difference between a marketingstrategy, a marketing plan, and amarketing program.

When we finish this lecture you should


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6. Be familiar with the texts framework formarketing strategy planningand why itinvolves a process of narrowing downfrom broad opportunities to the most

attractive marketing strategy.7. Know four broad types of marketing

opportunities that help in identifying newstrategies.

8. Understand why strategies foropportunities in international marketsshould be considered.

When we finish this lecture you should


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The Management Job in Marketing

Implement Marketing

Plan(s) and Program

Control Marketing Plan(s)

and Program

Implement Marketing

Plan(s) and Program

Whole-Company

Strategic

Management

Planning

Marketing

Planning


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What is Marketing Strategy Planning?Exhibit 2-2

Themarketing mix

C


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Selecting a Market-Oriented Strategy Is Target MarketingExhibit 2-3

Production-oriented manager sees

everyone as basically similar and

practices mass marketing

Marketing-oriented manager sees

everyone as different and

practices target marketing


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An Application of Target Marketing


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Developing Marketing Mixes forTarget MarketsExhibit 2-4

Place

PromotionPrice

Product

C


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The Product Element of the Marketing Mix


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The Place Element of the Marketing MixExhibit 2-6

Examples of Channels of Distribution

AOL NissanDel

MonteProcter &Gamble

Wholesaler

Wholesaler

Retailer

Consumer

Wholesaler

RetailerRetailer


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Advertising

Publicity

Personal

Selling

Telling and

Selling

the Customer

Personal

SellingAdvertising

Publicity

The Promotion Element of the Marketing Mix

Sales

Promotion


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Price

Flexibility

Price Changes

Over the Life

Cycle

Price

Flexibility

Price Changes

Over the Life

Cycle

PricingObjectives

Price

Setting Discountsand

Allowances

Geographic

Pricing TermsLegal

Environment

Cost and

Demand

Competition

and

Substitutes

Price

Sensitivity

Price of Other

Products In

the Line

PricingObjectives

Discounts

and

Allowances

Geographic

Pricing TermsLegal

Environment

Cost and

Demand

Competition

and

Substitutes

Price

Sensitivity

The Price Element of the Marketing Mix


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Interactive Exercise: Marketing Mix

Product Place

PromotionPrice

C


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Selectionof Target

Market

All Four Ps Contribute to the Whole

Product

Place

Promotion

Price

Understanding the Target Market Leads to Good Strategies!Understanding the Target Market Leads to Good Strategies!


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Target

Market

+

Marketing

Mix

= MarketingStrategy

+Other

Marketing

Plans

+

Time-

RelatedDetails

Marketing

Plan=

Other

Marketing

Plans

Time-

RelatedDetails

Marketing

Plan

Target

Market

Marketing

Mix

MarketingStrategy

The Marketing Plan Guides

Implementation and Control

A Firms

MarketingProgram

=


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The Importance of Marketing Strategy Planning

Strategy Decisions Usually Determine

Success and Failure

Timex had captured a largemarket share

Low price, dependability, good

ads, unconventional channels

Stiff competition arose

New product refinements


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Creative Strategy Planning Needed for Survival

2% 14% 14% 2%

(Well below

average)

Poor Fair Good Exceptional

(Belowaverage)

(Aboveaverage)

(Well above

average)

Death-wish

marketing

Best-practices

marketing

68%

(Average

Marketing

Program)

Failure


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Breakthrough

Opportunities

Breakthrough

Opportunities

Avoid Hit-or-Miss

Marketing

Competitive

Advantage

Competitive

Advantage

What Are Attractive Opportunities?


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Marketing Strategy Planning Process Highlights OpportunitiesExhibit 2-10

External Market Environment


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Diversification

Market

development

Productdevelopment

Marketpenetration

Types of Opportunities to PursueExhibit 2-11

Present products New products

Presentmarkets

New

markets


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Market Penetration


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Product Development


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Interactive Exercise: Marketing Strategy

DiversificationMarketdevelopment

Productdevelopment

Marketpenetration

Present products New products

Presentmarkets

Newmarkets


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Early StartCompetitive

Advantage

Better

Trends?

SmallerWorld

SmallerWorld

Competitive

Advantage

Better

Trends?

International Opportunities Should Be Considered


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Global Competitive Advantage


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Marketingmanagement process

Strategic

(management)

planning

Marketing strategy

Target market

Marketing mix

Target marketing

Mass marketing

Channel of

distribution

Personal selling

Mass selling

Advertising

Publicity

Sales promotion

Marketing plan

Implementation

Operational decisions

Marketing program

Breakthrough opportunities

Competitive advantage

Key Terms


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Differentiation

S.W.O.T. analysis

Market penetration

Market development

Product development

Diversification

Key Terms

chapter-02, marketing strategy planning

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