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MARKETING MANAGEMENT

Understand the process, elements, and importance of strategy planning in marketing management. Learn about defining objectives, role of marketing, generic strategies, marketing mix, and setting quantifiable goals for effective marketing campaigns.

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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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