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Chapter 15 The marketing process and marketing strategy.

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Presentation on theme: "Chapter 15 The marketing process and marketing strategy."— Presentation transcript:

1 Chapter 15 The marketing process and marketing strategy

2 Learning objectives 1Understand the importance of strategic marketing and prepare a basic outline for a marketing plan 2Develop an appropriate business mission statement 3Describe the criteria for stating good marketing objectives

3 Learning objectives (cont.) 4Explain the components of an internal and external environmental scan 5Discuss target market strategies 6Describe the elements of the marketing mix 7Explain why implementation, evaluation and control of the marketing plan are necessary

4 Learning objectives (cont.) 8Discuss the importance of global marketing 9Describe the external environment facing global marketers 10List the basic elements involved in developing a global marketing mix 11Consider how the Internet is affecting global marketing

5 Organisational overview of strategy Corporate strategy Strategic business unit Functional strategy

6 Marketing orientations Production orientation Sales orientation Marketing orientation Relationship marketing orientation

7 Learning objective 1 Define the term marketing Understand the importance of strategic marketing and prepare a basic outline for a marketing plan

8 Planning The process of anticipating future events and determining strategies to achieve organisational objectives in the future. 1

9 Strategic planning The managerial process of creating and maintaining a fit between the organisations objectives and resources and evolving market opportunities. 1

10 Strategic plan Defining the company mission. Setting company objectives and goals. Designing the business portfolio. Planning the marketing and other functional activities. 1

11 Marketing strategy issues 1 What is the organisations main marketing activity at a particular time? How will it reach its goals? What are the appropriate target markets? What are the most appropriate objectives for each of the target markets? What is the appropriate marketing mix in each market?

12 Learning objective 2 Describe four marketing management philosophies. Develop an appropriate business mission statement

13 Mission statement The firms long-term vision based on a careful analysis of benefits sought by present and potential customers and analysis of existing and anticipated environmental conditions. 2

14 Learning objective 3 Describe four marketing management philosophies. Describe the criteria for stating good marketing objectives

15 Marketing objective A statement of what is to be accomplished through marketing activities. 3

16 Learning objective 4 Explain the components of an internal and external environmental scan

17 SWOT Strengths Weaknesses Opportunities Threats Internal External 4

18 Learning objective 5 Discuss target market strategies

19 Marketing mix A unique blend of product, distribution, promotion and pricing strategy designed to produce mutually satisfying exchanges with a target market. 5

20 Learning objective 6 Describe the elements of the marketing mix

21 The four Ps 6 Product Price Place Promotion

22 Learning objective 7 Explain why implementation, evaluation and control of the marketing plan are necessary

23 Reasons why marketing plans fail 7 Planning done in isolation Trade-off problems between short- and long-term objectives Resistance to change Importance of control Conduct marketing audit

24 Marketing audit A thorough, systematic periodic evaluation of the goals, strategies, structure and performance of the marketing organisation. 7

25 Discuss the importance of global marketing Learning objective 8

26 Global vision Recognising and reacting to international marketing opportunities, being aware of threats from foreign competitors in all markets, and effectively using international distribution networks. 8

27 Describe the external environment facing global marketers Learning objective 9

28 The external environment 9 Culture Economic and technological development Political structure Demographic makeup Natural resources

29 Culture The common set of values shared by its citizens that determine what is socially acceptable. 9

30 Culture (cont.) Language Religion Superstitions Etiquette Customs Traditions Notion of time 9

31 Lessons about the notion of time 9 1Know appropriate arrival time. 2Understand the line between work time and social time. 3Study the rules of the waiting game. 4Learn to reinterpret doing nothing. 5Ask about accepted sequences. 6Are people on clock time or event time?

32 Economic and technological development Type of societyDescription Traditional Pre-industrial Takeoff Industrialising Agricultural, little upward mobility Social and economic change New industries Spread of technology Fully industrial Exporter, technology as driver of new innovation 9

33 Legal considerations 9 Tariff Quota Boycott Exchange control Market grouping Trade agreement Legal structures which encourage or limit trade

34 Legal considerations (cont.) Tariff Quota Boycott Exchange control Market grouping Trade agreement A tax levied on goods entering a country. Limit on the amount of a product that can enter a country. Exclusion of products from a country. Foreign exchange must be sold to a control agency. A common trade alliance. An agreement to stimulate international trade. 9

35 Trade agreements: Uruguay Round 9 Reduces tariffs by one-third world-wide Patent/copyright protection Services under international rules Reduction of farm subsidies

36 World Trade Organization (WTO) 9 The World Trade Organization replaces the old General Agreement on Tariffs and trade (GATT). All WTO members must fully comply with all the agreements under the Uruguay Round. China has joined the WTO.

37 Demographic makeup Marketing considerations Population density Urban or rural Personal income Rise of global middle class Supply of professionals 9

38 Natural resources Differences in natural resources create: international dependencies shifts of wealth inflation and recession export opportunities if resources are abundant stimulus for military intervention. 9

39 List the basic elements involved in developing a global marketing mix Learning objective 10

40 Pricing Must consider transportation and insurance costs, taxes and tariffs. Determine what customers will spend. Ensure that foreign buyers will pay them. May need to simplify a product to lower price. 10

41 Dumping The sale of an exported product at a price lower than that charged for the same or a like product in the exporters home market. 10

42 Countertrade A form of trade in which all or part of the payment for goods or services is in the form of other goods or services. 10

43 Distribution challenges Japanese distribution system is the most complicated in the world. Retail institutions may differ from companys domestic market. Distribution channels and physical infrastructure may be inadequate. 10

44 Consider how the Internet is affecting global marketing Learning objective 11

45 Going global 11 More than 50% of Australians own computers. Australia is among the leading countries with access to the net for the population. Internet purchases are still a small percentage of overall retail sales. US customers are more likely to buy online. Complexity of tariffs, freight.


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