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Chapter 2 - Coggle Diagram
Chapter 2
Managing the marketing effort
Analysis
SWOT
Opportunities
Exploit to the company's advantage
Weaknesses
interfere with the company's performance
Threats
Challenge the company's performance
Strengths
achieve the objectives
Provides inputs to each of the other marketing management
Implementation
turning marketing strategies & plans into marketing actions
accomplish strategic marketing objectives
addresses the who, where, when and how
difficult
Planning
what the company wants to do with each business unit
involves choosing marketing strategies
attain overall strategic objectives
Marketing plan
Current marketing situation
Marketing strategy
Executive summary
Action programmes
Budgets
Controls
Objectives and issues
Threats and opportunities analysis
Department Organisation
Functional organization
Carry out marketing strategies and plans
Geographic organization
Product manegement organization
Market or customer manegement
Control
Operating control
Strategic control
evaluating results
taking corrective action
Marketing strategy and the marketing mix
Customer value-driven marketing strategy
Market segmentation
geographic
demographic
psychographic and behavioural
needs
characteristics
Market targeting:
evaluating each market segment’s attractiveness and selecting one or more segments to enter
serve only one or a few special segments or market niches
serve several related segments -different kinds of customers but with the same basic wants.
Market differentiation and positioning
Positioning
Arranging for a product to occupy a clear,
distinctive and desirable place relative to competing products in the minds of target consumers.
Differentiation
Actually differentiating the market offering to create superior customer value
Developing an Intergrated Marketing Mix
marketing mix means the set of tactical marketing tools-product, price,and promotion-that the firm blends to produce the response it wants in the target market.
the marketing tools under 4Ps( seller's view)
product
the goods-and-services combination the company offfers to the target market
price
the amount of money customer must pay to obtain the product
place
company activities that make the product available to target consumer
promotion
activities that communicate the merits of the product and persuade target customer to buy it
4As ( buyer's view)
Affordability
the extent to which customers are willing and able to pay the product's price
Accessibility
the extent to which customers can readily acquire the product
Awareness
the extent to which customers are informed about the product's features, persuaded to try it and reminded to repurshase
Acceptability
the extent to which the product exceeds customer expectation
Company-wide stategic planning: defining marketing's role
Strategic planning
Setting company objectives and goals
Designing the business portfolio
Business portfolio
Analysing the current business portfolio
Portfolio analysis
The Boston Consulting Group approach
Growth-share matrix
Problems with matrix approaches
Developing strategies for growth and downsizing
Market penetration
Market development
Product development
Diversification
Product/ market expansion grid
Defining a market-oriented mission
Mission statement
Measuring and managing marketing return on investment
: Marketing managers must ensure that their marketing euros are being well spent.
marketing return on investment (marketing ROI): measures the profits generated by investments
brand awareness
sales
market share
customer relationship measures
customer satisfaction
customer retention
equity customer
Planning Marketing
Partnering to build customer relationships
provides a guiding philosophy
provides inputs to strategic planners
design a strategic for reaching the unit's objectives
Value chain
marketers must
find ways to get all departments to " think consumers "
develop a smoothly functioning value chain
Value delivery network
partnering with other members of the supply chain
to improve the performance of the customer value delivery network