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L1: strategic marketing (framework (management of five complex and inter…
L1: strategic marketing
framework
management of five complex and inter-related processes
identifying & framing organizational growth oppertunities
converting environmental opportunities into organizational opportunities
tools
SWOT
brainstorm
what might we do?
what do we do best?
core competences
focus
organaization
what must we do?
KSF
focus
competition analysis
market analysis
opportunity analysis
activities
oppertunity identification
oppertunity organization matching
opportunity evaluation
market segmentation
def
market segment
a group of customer who share a similar set of needs and wants
ratioal
gather information for
identifies opportunities for product devlopment
designing marketing mix to effectively reach homogeneous (needs and wants) group of consumers
improve allocation of marketing resources
segmentation variables
geographic
demographic
psychographic
values
attitudes
opinions
interests
activities
lifestyle
behavioral
usage rate, patterns
price sensitivity
brand loyality
pursuits of benefits
criteria
measurable
substantial
accessible
differentiable
actionable
market targeting
def
selecting and targeting marketing mix at one or a few key segments and thereby providing closely tailor and superior customer value to those select segments
process
select marketing segment
evaluation of market segments
size and growth
1 more item...
structural attractivness
1 more item...
organizational fit
3 more items...
develop marketing mix
selecting marketing strategy
strategies
differentiated
niche
micro
undifferentiated
3 formulating product-market strategy
tools
growth strategies matrix
market penetration
market development
product development
diversification
interaction strategies
marketing mix
4P
customer value proposition
budgeting market financial and production resources
developing re-formulation and recovery strategies
Defining organizations, business, mission & goals
business definition
the scope
which needs within those segments?
what technology to satisfy those needs in those segments?
which customer segments?
business mission
underscore, put emphasis on the scope and reflect management vision for the future
business goals
convert mission into tangible, measurable and time specific actions and results
financial aspects
concepts
costs
fixed & variable
relevant & sunk cost
margins
gross margin
trade margin
analysis
break-even
sensitivity
decision making
framework
DECIDE
define the problem
enumarate the decision factors
consider relevant information
identify best alternative
develop a plan for implementing chosen alternative
Evaluate the decision and the decision process