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MARKETING MANAGEMENT

MARKETING MANAGEMENT. SESSION 2 STRATEGY PLANNING. ON THE MENU TODAY. Strategy Planning: some definitions The planning process Where marketing fits Basic elements of marketing strategy. STRATEGY PLANNING. Planning is a process

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MARKETING MANAGEMENT

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  1. MARKETING MANAGEMENT SESSION 2 STRATEGY PLANNING

  2. ON THE MENU TODAY • Strategy Planning: some definitions • The planning process • Where marketing fits • Basic elements of marketing strategy

  3. STRATEGY PLANNING • Planning is a process • A strategy is a comprehensive action plan a company uses as a guideline in all its activities at one point in time • Strategies are global or functional

  4. THE PLANNING PROCESS

  5. HIERARCHY OF OBJECTIVES

  6. ROLE OF MARKETING • Ensure that the right product (service, idea) reaches • the right market • in the right form • at the right place • at the right time • at the right price • through the right promotion

  7. MARKETING STRATEGY • Is not (directly) concerned with • financial structure • production process • human ressources • MIS • other functional areas

  8. Market Penetration Product Development Market Development Diversification Generic Marketing Strategies Four Basic Types of Opportunities Present Products New Products Present Markets New Markets

  9. MARKETING OBJECTIVES • Sales objectives • Market share objectives • Contribution to profit objectives (gross margin)

  10. MARKETING OBJECTIVES • Quantified • Measurable • Realistic • Stimulating

  11. ELEMENTS OF MARKETING STRATEGY • Segmentation • Targeting • Positioning • Marketing Mix

  12. TARGET MARKETING • Homogeneity of the target market allows • unique marketing mix • competitive advantage • efficiency and efficacy

  13. THE MARKETING MIX price product promotion place

  14. NEXT CLASS • Analyzing the business environment • macro-environment • competition • Presentations and reports for Fottle • Read article from Web site

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