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Marketing
Framework
A Complete
Marketing Strategy
Marketing Strategy
Objectives
Mission statements describe the
customer orientation or business
philosophy
Corporate objectives state the
overall goals to be achieved in
financial terms
Marketing Strategy
Characteristics of well-written
objectives:
Lists a quantified standard of
performance
Designates a clear time frame
States goal in measurable terms
Should be challenging but realistic
Marketing Strategy
Customer and competitor targets
Which customer
groups should
be targeted?
Begin by
considering
the strategic
alternatives
Strategic Alternatives
Marketing Strategy
Key Strategies
Targeting the companys
own customers
Market
Penetration
Market
Development
Targeting competitors
customers
Riskier and more
expensive strategy
Common in slow growth
markets
Price promotions are key
Marketing Strategy
Key Strategies
Market
Penetration
Market
Development
Targeting non-buying
customers in currently
targeted segments
Is it profitable?
Targeting new
customers in new
segments
Will it require the
introduction of new or
modified products?
Marketing Strategy
Market Development Strategies:
Entering Foreign Markets
Requires decisions related to:
Factors Affecting
Mode of Entry
Marketing Strategy
Product Features
After formulating
objectives and
determining
customer and
competitor targets,
the next key
decision is to
select the specific
features to include
in the product.
Marketing Strategy
Product Features
Different features are often used to
attract different segments.
Features may be product-specific or
package-related.
Creating several versions of a
manufactured good can be very
expensive.
Services and information packages are
more easily tailored.
Marketing Strategy
Core Strategy
The Value
Proposition
Differentiation
Product
Positioning
Marketing Strategy
Core Strategy
Summarizes into a
single paragraph:
The Value
Proposition
Differentiation
Product
Positioning
The customer
The competitive targets
The customers reason
for buying your brand
Marketing Strategy
Core Strategy
The Value
Proposition
Differentiation
Product
Positioning
Competitive advantages
(CA) should have three
characteristics:
CA should generate
customer value
Increased value must be
perceived by the
consumer
CA should be difficult to
copy
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Marketing Strategy
Cost- or Price-Based Advantage
Difficult to achieve
Two primary methods of creating a costor price-based advantage:
Being the largest producer and benefiting
from economies of scale
Taking advantage of the experience curve
Marketing Strategy
Quality-Based Differentiation
Development of an observable
difference that is valued by
customers
Typically implies higher costs
Allows for both higher prices and
higher margins
Marketing Strategy
Perceived Quality or Brand-Based
Differentiation
Marketing Strategy
Core Strategy
The Value
Proposition
Differentiation
Product
Positioning
Marketing Strategy
Marketing Mix
Implementation of
the marketing mix
makes the
strategy
operational
Consistency
between strategy
and the actual
implementation is
critical
Ensuring a
Segment-Focused
Strategy
Introduction
Growth
Maturity
Decline
Introduction
Growth
Maturity
Decline
Growing competition
Price pressure
Market segmentation
Market follower
Introduction
Growth
Maturity
Decline
Market follower
Often dependent on market
leaders strategy
Introduction
Growth
Maturity
Decline