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For use only with Perreault/Cannon/ McCarthy texts, 2010 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin
www.mhhe.com/fourps
3. 4.
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Understand what a marketing manager does. Know what marketing strategy planning is and why it will be the focus of the book. Understand target marketing. Be familiar with the four Ps in a marketing mix. Know the difference between a marketing strategy, a marketing plan, and a marketing program. Understand what customer equity is and why marketing strategy planners seek to increase it.
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Be familiar with the texts framework for marketing strategy planningand why it involves a process of narrowing down from broad opportunities to the most attractive marketing strategy. Know four broad types of marketing opportunities that help in identifying new strategies. Understand why strategies for opportunities in international markets should be considered.
Marketing Planning
Production-oriented manager sees everyone as basically similar and practices mass marketing
Product C Price
Place
Promotion
Wholesaler
Wholesaler
Wholesaler
Retailer
Retailer
Retailer
Consumer
Advertising
Sales Promotion
Publicity
Price Flexibility
Price Changes Over the Life Cycle
Price Setting
Legal Environment
General Motors is considering increasing the length of its bumper-to-bumper warranty on new vehicles from 3 years to 5 years. The marketing mix variable being considered here is:
A. B. C. D. E.
Target Market
Marketing Mix
Marketing Plan
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Other Marketing Plans
A marketing program A marketing plan A SWOT analysis A marketing strategy Differentiation and segmentation
marketing super-plan. marketing program. marketing strategy. operational plan. mass-marketing approach.
Customer Equity
Profits depend on customer equity Marketing Program should benefit firm All parts of program work as a whole
The Importance of Marketing Strategy Planning Strategy Decisions Usually Determine Success and Failure
Timex had captured a large market share Low price, dependability, good ads, unconventional channels Stiff competition arose New product refinements
Breakthrough Opportunities
Competitive Advantage
Present products Present markets New markets Market penetration Market development
A. B. C. D. E.
Market Penetration
Product Development
Better Trends?
Competitive Advantage
Early Start
1. 2.
3. 4.
5.
6.
Understand what a marketing manager does. Know what marketing strategy planning is and why it will be the focus of the book. Understand target marketing. Be familiar with the four Ps in a marketing mix. Know the difference between a marketing strategy, a marketing plan, and a marketing program. Understand what customer equity is and why marketing strategy planners seek to increase it.
7.
8.
9.
Be familiar with the texts framework for marketing strategy planningand why it involves a process of narrowing down from broad opportunities to the most attractive marketing strategy. Know four broad types of marketing opportunities that help in identifying new strategies. Understand why strategies for opportunities in international markets should be considered.
Key Terms
Marketing management process Strategic (management) planning Marketing strategy Target market Marketing mix Target marketing Mass marketing Channel of distribution
Personal selling Customer service Mass selling Advertising Publicity Sales promotion Marketing plan Implementation Operational decisions Marketing program Customer equity
Key Terms
Breakthrough opportunities Competitive advantage Differentiation S.W.O.T. analysis Market penetration Market development Product development Diversification