3. Marketing’s Strategic Role in the Organization. Learning Objectives. After studying this chapter, you should be able to: Discuss the three basic levels in an organization and the types of strategic plans developed at each level.
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Marketing’s StrategicRole in theOrganization
The highest level in any organization.
Units within the organization that are generally managed as self-contained businesses.
Includes all of the various functional areas within a business unit.
Corporate objectives specify the achievement of desired levels of performance during particular periods.
Corporate objectives are established for many areas, but the most visible tend to be financial objectives.
A market penetration strategy represents a decision to achieve
corporate growth objectives with existing products within existing markets.
A market expansion strategy entails marketing existing products to new markets.
A product expansion strategy calls for marketing new products to the same market.
A diversification strategy requires the firm to expand into new products and new markets.
Unrelated diversification means that the new products and markets have nothing in common with existing operations.
Related diversification occurs when the new products and markets have something in common with existing operations.
Market scope refers to how broadly the business views its target market. Two basic strategies exist: Focused or Broad.
Competitive advantage refers to the way a business tries to get consumers to purchase its products over those offered by competitors. Two basic strategies exist:Differentiation or Low Price
Exporting is a method of selling products to buyers in international markets.
Direct investment iswhere the marketer invests in production,
sales, distribution, or other operations in the foreign country.
Joint ventures include any arrangement between two or more organizations to market products internationally.
With a standardized marketing strategy, a firm develops and implements the same product, price, distribution, and promotion programs
in all international markets.
With a customized marketing
strategy, a firm develops and implements a different marketing
mix for each target market country.