chapter 2 Strategic Marketing Management

Objectives To recognize the interacting components of the marketing management process To appreciate the core elements of market analysis, product concept, and product position To understand the distinctions among the five Ps of sport marketing: product, price, place, promotion, and public relations

Five Strategic Components of Marketing Management 1.Visualize and position the organization vis- à-vis the market. 2.Clarify your goals and objectives. 3.Develop a marketing plan. 4.Integrate the marketing plan into a broader strategic allocation of resources that ensure success. 5.Control and evaluate the plan's implementation.

The Marketing Management Process in Sport

Strategic Step 1: Visualize and Position the Organization Vis-à-Vis the Market Core vision and ideology The SWOT analysis Marketing information systems

SWOT Analysis Organizational strength Organizational weakness External or environmental opportunities External or environmental threats

Strategic Step 2: Clarify Your Goals and Objectives The development and reassessment of goals and objectives should emanate from ongoing analysis. Clarifying goals and objectives is what sets the manager apart from the caretaker.

Strategic Step 3: Develop a Marketing Plan Market segmentation and determining key targets –Demographic information –Geomarket information –Psychographic information –Product usage rate –Product benefits Market development using the escalator concept Product development and positioning The five Ps in the sport marketing mix

The Escalator Concept

The Five Ps: 1.Product 2.Price 3.Promotion 4.Public relations 5.Place

Strategic Step 4: Integrate the Marketing Plan Into a Broader Strategic Allocation of Resources That Ensure Success The marketer must ensure that more senior executives will support the plan. Structure follows strategy. Coordinate the five Ps with broad support from the entire organization, top to bottom. Blend the five Ps to build packages valued by the customer.

Strategic Step 5: Control and Evaluate the Plan's Implementation Analysis, evaluation, and control should be everyday events. Consumer satisfaction = product benefits – costs.