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Topic 2: Company and Marketing Strategy (Managing the Marketing Effort (4…
Topic 2: Company and Marketing Strategy
Company-wide strategic planning
Definition of Strategic Planning:
is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities, and its changing marketing opportunities
Steps in strategic planning
Setting company objectives and goals
Designing the business portfolio
Defining the company mission
Planning marketing and other functional strategies
Marketing’s role in strategic planning
Partnering with Other Company Departments
Value chain:
is a series of departments that carry out value creating activities to design, produce, market, deliver, and support a firm’s products.
Value delivery network:
is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system.
Managing the Marketing Effort
4 marketing management functions
Planning
Implementation
Analysis
Control
Marketing Analysis
SWOT Analysis
opportunities
threats
weaknesses
strengths
Market Planning
Parts of a Marketing Plan
Marketing strategy
Action programs
Objectives and issues
Threats and opportunities
Budgets
Marketing situation
Controls
Executive summary
Marketing Implementation
-Addresses who, where, when, and how
-Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives
Return on Marketing Investment (Marketing ROI)
Net return
from a marketing investment divided by the costs of the marketing investment
Measurement of the
profits generated
by investments in marketing activities