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Chapter 2 Marketing strategic planning

By Esther Olson,2014-05-30 00:47
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Chapter 2 Marketing strategic planning Chapter 2 Marketing strategic planning it is more important to do what is strategically right than what is immediately profitable3>. Philip Kotler The learning objectives: What is strategy? what is strategic planning? Marketing process Strategy The logics by which the business..

    Chapter 2 Marketing strategic planning

    Chapter 2

     Marketing strategic planning

     it is more important to do what is strategically right than what is immediately profitable3>.

     Philip Kotler

    The learning objectives:

    What is strategy?

    what is strategic planning?

    Marketing process

    Strategy

    The logics by which the business unit hopes to achieve its marketing objectives.

    Discussion

    What ‘s the difference between the strategies and the tactics?

    2.Strategic planning

     The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. It involves defining a clear company mission,

    setting supporting objectives,designing a sound business portfolios and coordinating functional strategies.

    Steps in strategic planning

    (page 48)

    Mission----objectives and goals business

    portfolios-----planning,marketing and other functional strategies

    mission

    The organization’s purpose---- what it wants to accomplish in the

    larger environment.

    Business portfolios

    The collection of business and products that make up the company.

    Strategic business unit (SUB)

    a unit of company that has a separate mission and objectives and that can be planned independently from other company businesses,it can be a company division, a product line with a division, or sometimes a single product or brand.

    Tools for business portfolios

    1.Growth-share matrix (Boston Consulting Group Approach)

    2.The General Electric Approach

    3.marketing process

    1.analyzing marketing opportunities

    2.selecting target markets

    3.developing the marketing mix

    4.Managing the marketing effort.

    Market Segmentation

    Dividing a market into distinct groups of buyers on the basis of needs,characteristics, or behaviors who might require separate products or marketing mixes.

    Market segment

    A group of consumers who respond in a similar way to a given set of marketing effort.

    Market targeting

    The process of evaluating each market segment’s attractiveness and selecting one or more segment to enter.

    Marketing positioning

    Arranging for a product to occupy a clear,distinctive, and desirable place relative to competing products in the minds of target consumers.

    Marketing mix

    4P’S----product,price,promotion,place

    4C’s---customer solution.customer cost, convenience, communication

Managing the marketing effort

    Marketing analysis Marketing planning Implementation

    control

    Assignment

    1.reading material:P63P66, P70 2.Page 38,79

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