Download Mktg 1.04 Marketing Strategies PPT

Indicator 1.04 – Employ marketing
information to develop a marketing plan
Marketing
Part 2
RELATIONSHIP OF GOALS, TACTICS, &
STRATEGIES TO THE MARKETING MIX
 Mission Statement – the guiding principle for all business
decisions and provides direction for planning.
 Goals/Objectives – established on a yearly basis and
support the mission statement. Goals must be measurable
and have a deadline.
 Strategies – are then developed to accomplish goals and
it reflects the method to achieve the goal (what to do).
 Tactics – are then developed to accomplish the
strategies; it is the how things will be done, daily
actions.
Goal: What is the marketer’s
destination?
 A goal is an objective you plan to fulfill
 SMART:(Specific, Measureable, Action, Realistic, Timebound)
 Determine where your firm needs to be by a particular date
and agree upon goals
 A family-style restaurant wants to increase sales
 Agree to increase annual sales by 10% over last years sales
 Goal is specific and can be evaluated for success or failure at the
end of a given time frame.
Strategy: Which route will the marketer
take to get there?
 A strategy is a plan of action for achieving your goals and
objectives.
 Create the plan of action (route) believed to be most
efficient.
 Example:
 Strategy #1: add a kids’ menu in order to increase sales to
young parents in the area
Tactics: What small steps are needed
to make it happen?
 Tactics are specific actions used to carry out strategies
 Marketers carefully choose the short-term actions, or tactics,
they use to carry out their strategy.
 Tactics must line up with where they plan to go –their goaland how they plan to get there
 They pay attention to every detail – their strategy
MARKETING STRATEGIES CHANGE……
 What factors cause that change?
 Different Goals
 Economic conditions change
 Political or influence of governmental agencies changes
 Demand changes reflecting new consumer attitudes
 Environmental changes
 Advancements in technology
 Actions of Competitors