Marketing Strategy

1. Marketing Strategy Chapter 1 Strategic Market Planning

2. Review • Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. • The marketing concept states that an organization should try to provide products that satisfy customers' needs through a coordinated set of activities that allow the organization to achieve its goals.

3. Strategic Market Planning Process I Analysis of External, Customers, and Internal Environment Organizational Mission, Goals and Objectives Corporate or SBU Strategy SWOT Analysis

4. Strategic Market Planning Process II Marketing Goals and Objectives Evaluation and Control Marketing Strategy Implementation

5. A mission statement defines an organization and describes its reason for being, what and whom it represents, and the values or beliefs for which it stands. Goals are general statements of desired accomplishments expressed in qualitative terms. Objectives are specific and quantitative benchmarks that can be used to gauge progress toward the achievement of a previously established goal. Organizational Mission, Goals, and Objectives

6. A corporate strategy, the central scheme or means for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve the desired goals and objectives. Corporate or Business-Unit Strategy

7. Consistent with organizational goals. Expressed in clear, simple terms. Written so that their accomplishment can be measured accurately. Expressed in terms of a unit of measurement that can be measured. Marketing objectives should be reconsidered for each planning period. Marketing Objectives Should be

8. Fit the needs and purposes of the selected target market. Be realistic given the organization's available resources and environment. Be consistent with the organization's mission, goals, and objectives. Be evaluated to determine its effect on the organization's sales, costs, image, and profitability. Marketing Strategy Must

9. Marketing Implementation StaffMarketingPositions CoordinatingMarketingActivities Communicating Ideas and Information MotivatingEmployees

10. Implementation of any marketing strategy would be incomplete without an assessment of its success and the creation of control mechanisms to provide and revise the strategy, its implementation, or both if necessary. This evaluation and control serve as the beginning point for the planning process in the next planning cycle. Because strategic market planning is a never-ending process, managers should have a system for monitoring and evaluating implementation success on an ongoing basis (i.e., compare results with objectives). Evaluation and Control

11. Five Purposes of a Marketing Plan 1) Explains the present and future situations of the organization. 2) Specifies the outcomes that are expected (goals and objectives) so the organization can anticipate its situation at the end of the planning period. 3) Describes the specific actions that are to take place so the responsibility for each action can be assigned. 4) Identifies the resources that will be needed to carry out all planned actions. 5) Permits the monitoring of each action and its results so that controls may be implemented.

12. Customer-Oriented Organizational Design Customers CEO Frontline Employees Middle Managers Middle Managers Frontline Employees CEO Customers Traditional Organizational Structure Customer-Oriented Organizational Structure

13. Customer Value