Documente Academic
Documente Profesional
Documente Cultură
MARKETING STRATEGY
FOCUS on MARKETING ORIENTATION
Evolution of the Marketing Concept
Marketing
The process of creating, distributing,
promoting,
and pricing goods, services, and ideas to
facilitate satisfying exchange relationships
with customers
in a dynamic environment
Customers
The purchasers of organizations’ products; the
focal point of all marketing activities
Target Market
A specific group of customers on whom an
organization focuses its marketing efforts
Marketing Management
Marketing Management
The process of planning, organizing,
implementing, and controlling marketing
activities to facilitate exchanges effectively
and efficiently
Effectiveness
The degree to which an exchange
helps an organization achieve its
objectives
Efficiency
The process of minimizing the
resources an organization must
spend to achieve a specific level
of desired exchanges
Marketing Management (cont’d)
Planning
Assessingopportunities and resources
Determining marketing objectives
Developing a marketing strategy and plans for
implementation and control
How, when and by whom are marketing activities
performed?
Organizing
Developing the internal structure of the
marketing unit
Functions, products, regions, customer types
Marketing Management (cont’d)
Implementation
Coordinating marketing activities
Motivating marketing personnel
Developing effective internal communications
within the unit
Control
Establishing performance standards
Comparing actual performance to established
standards
Reducing the difference between desired and
actual performance
Important Terms
External
Influence
U 2. Informal sources
2. Promotion
Input 3. Other noncommercial
M 3. Price sources
E 4. Channels of 4. Social class
R distribution 5. Subculture and culture
D Psychological Field
Consumer Decision
Need
E 1. Motivation
Recognition
C 2. Perception
3. Learning
Making
I Prepurchase
Process 4. Personality
S Search
5. Attitudes
I
Evaluation of
O Experience
Alternatives
N
P Purchase
Decision
Behavior
R 1. Trial
Post
O Output 2. Repeat purchase
C Postpurchase
E Evaluation
S
STRATEGY......
§ The word ‘Strategy’ was initially introduced and
defined in the ancient military dictionaries
§
§ It comes from the Greek word ‘strategos’,
strictly meaning a general in command of an
army; it is formed from ‘stratos’, meaning
army and ‘ag’, meaning to lead
Organisational
Retrospect view:
THE CONCEPT OF ‘STRATEGY’
Competitive/Business (SBU)
which emphasizes improvement of the competitive
position of a corporation’s products or services in the
specific industry or market segment served by that
division.
Functional
Functional strategies for the organisation’s functional
areas in support of SBUs and corporate strategies
Marketing strategy
THE INTER-RELATIONSHIP BETWEEN
MARKETING AND CORPORATE STRATEGY
Ø INFORMS
Ø DIRECTS
Ø GUIDES
Ø CONTROLS
Corporate Strategy
Marketing Strategy
•Specifying the •Identifying product market/s to
•Allocating resources
Ø ACHIEVES
Ø SUPPORTS
Marketing strategy development…..
Ø Consideration of customers or
Ø
Ø Consideration of competitors
SHARE HOLDERS
EMPLOYEE
CUSTOMERS
SUPPLIERS &
DISTRIBUTORS
WEBSTER’S MARKETING PRINCIPLES
Globalization
Information Technology
strategies strategies
DISCUSSION QUESTION
Which should come first – the
customer need or the product
idea?
Planning framework for strategy making process
4 main ways of approaching marketing strategy – by
douglas west & John ford
What is competitive marketing strategy
A market-oriented strategy that establishes a
profitable & sustainable market position for the
firm against all forces that determine industry
competition by continuously creating &
developing a competitive advantage from the
potential sources that exist in a firm’s value
chain.”
Some advantages are sustainable over a long
period of time while others can be duplicated by
competitors almost immediately. Establishing a
competitive advantage means that a firm builds a
wall around its position in the competitive market.
Strategic planning is an organization's
process of defining its strategy, or direction,
and making decisions on allocating its
resources to pursue this strategy, including
its capital and people
Components of Strategic Marketing