Download Marketing Strategy/Plan - Department of Communication Science

UNIVERSITY OF ZULULAND
• MARKETING AND ADVERTISING
• ACOM321/121/172
• Ntate Tichere
• Mr. Marathane Reggy Mopheme Dodoo Metso
Lesotho
Marketing Strategy/Plan
• A document that proposes strategies for using
elements of the marketing mix to achieve
objectives,
• Marketing plan mirrors the company’s
business strategic plan and contains many of
the same components.
• The marketing function in the business
• Marketing contributes towards profit and
closeness to the customers...
The Management task in marketing
• Identify opportunities and threats in the
marketing environment,
• Identify opportunities that can be utelised for
internal strengths and weaknesses
• Compiling marketing data,
• Selecting a specific target market,
• Deciding on the products to be produced in order
to satisfy consumer needs,
• Deciding on the selling price of the product to
attain the objective of profitability,
• Deciding on specific distribution channels
...continued
• Deciding on marketing communication
methods where consumers are informed,
reminded and persuaded,
• Deciding on selection, training, remuneration
and motivation of marketing personnel,
• Organizing and leading the activities of the
marketing department,
• Controlling the marketing process.
Marketing Challenges in the
Global World
• Marketing environment is global and dynamic,
• Trends and forces impacting on the market
change:
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Growth of non-profit marketing: kwaito and film industry
Rapid globalization: McLuhan’s Global World
Changing world economy: needs and wants are in volumes
Social responsible actions: companies’ indulgence in the
country’s economic growth
– New Marketing Landscape: Value of customers: corporate
interconnection of domestic markets and global companies
Rubric:
• Just what is global marketing? How does it
differ from domestic marketing? How do
global competitors affect and forces affect our
business?
• Discuss the impact of global markets on
domestic markets.