Download Marketing Management Process (Cont`d)

Marketing Management
Process (Cont’d)
• Marketing managers plan and
implement a sequence of activities that
help the firm achieve its goals.
Marketing Management
(cont’d.)
• Marketing Plans
– Objectives
– Problems and Opportunities
– Strategies
– Tactics (who, what, when)
Marketing Management
(cont’d.)
• Marketing Strategies
– target market
– Marketing Mix
• Product strategy
• Price strategy
• Promotion strategy
• Place strategy
Marketing Management
cont’d.
•
•
•
•
Market segmentation
Niches within segments
Positioning within segments
Copy strategies
Marketing Management
cont’d
• Controllable marketing mix variables
• Uncontrollable variables
– Physical
– Economic
– Social
– Ethics and legal
- Competitive
- International
Marketing Management
(cont’d)
• Marketing Concept
– Walmart
– Other Examples
Marketing Management
(cont’d)
• Successful marketing strategies
– Assets
– Skills
Marketing Management
(cont’d)
• Searching for SCAs
• Sustainable competitive advantages
Marketing Management
(cont’d)
•
•
•
•
Reputation for quality
Customer service/product support
Name recognition/high profile
Retain good management and
engineering staff
• Low cost production
• Financial resources
Marketing Management
(cont’d)
• Customer orientation/feedback/market
research
• Product-line breadth
• Technical superiority
• Installed base of satisfied customers
• Segmentation/focus
Marketing Management
(cont’d)
• Cost strategies: Goodyear and Whirlpool
• Differentiation by Value:
– Michelin
– Maytag
Marketing Management
(cont’d)
• Strategic emphasis helps firm orient
themselves to key external factors such
as consumers and competition.
Marketing Management
(cont’d)
• Product Life Cycles
– Introduction
– Growth
– Maturity
– Decline
Marketing Management
(cont’d)
• Balancing the Product Portfolio
• Boston Consulting Group Matrix