1. Nature of Marketing Strategies
Pick the Mix
Nature of Marketing Strategies
Market Planning LAP 2

2. Explain the importance of marketing strategies to business.
Explain the nature of the marketing mix.

3. Explain the importance of marketing strategies to business.

4. What prompts you to buy a product?
How do you know about, and have access to, the items you need and want?

5. Preparation Is Key Marketers must plan: Where they need to go
How to get there efficiently

6. Where Are You Going? Marketers set goals— their destination.
Describe where they’re headed
Describe objectives they plan to fulfill
Identify where they want to be by a certain date

7. Which Way Are You Headed?
Marketers develop strategies— their route.
Determine a plan of action
Help them reach their goals
Must evaluate options

8. Method: How Will You Get There?
Marketers choose tactics—small steps along the route.
Carry out their strategies
Lead them toward their goal— a little at a time

9. Develop complete plans.
Be ready to adjust.

10. Choose the Best Strategy
How does the marketing concept apply to the situation?
When do they want to reach their goal?
What resources are on hand?

11. Be On the Lookout Business situations change.
Obstacles can be turned into opportunities.

12. Explain the nature of the marketing mix.

13. One Size Does Not Fit All
The same marketing strategy won’t work in every situation.
Marketers adjust and combine their strategies to fit their purposes.

14. Marketing Mix, mahr-ki-ting miks, n
Marketing Mix, mahr-ki-ting miks, n. A combination of the four elements of marketing—product, price, place, and promotion.

15. Product The goods, services, or ideas a business offers its customers
Solutions to customers’ needs

16. Price The amount of money a firm asks in exchange for its products
A balance
Between customer value and satisfaction
Between company cost and profit

17. Place Getting a selected product in the right place at the right time
Creating convenience for the customer

18. Promotion
The various types of communication used to inform, persuade, or remind customers about their products
Advertising, personal selling, publicity and public relations, and sales promotion

19. Put It All Together The marketing-mix works as a unit.
The marketing-mix elements are interrelated.
A change to one element affects the others.

20. Strategies and the Marketing Mix
Marketers select a strategy before customizing the marketing mix.
Choosing the right blend of the marketing mix takes thorough planning.

21. Target’s Strategy Offers discount shopping for the fashionable crowd
Uses creative marketing mix

22. Marketing strategies come in all shapes and sizes.
Think about one good and one service that you are familiar with.
How are the strategies and tactics used to market a good similar to and different from those used to market a service?

23. Barbie dolls are a source of controversy.
Totally Stylin’ Tattoo Barbie comes with tattoos for Barbie and children.
Was it unethical for Mattel to produce a doll with tattoos?
Does a tattooed Barbie make sense in today’s society?

24. Digital-based photography sources:
Microsoft Clip Gallery
Various clipart used in conjunction with Microsoft PowerPoint. All rights reserved One Microsoft Way Redmond, WA USA
ThinkStock Photos
Various images used in this presentation are ©2011 ThinkStock Photos. All rights reserved

25. MBAResearch Acknowledgments Original Developers
Lelia Ventling, Mary Hollaway and April Miller, MBAResearch
Version 1.0
Copyright © 2011
MBA Research and Curriculum Center®

26. Copyright:
All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. No title to or intellectual property rights to the images on this CD are transferred to you. These sources retain all rights and are not to be used, digitally copied, transferred, or manipulated in any way. To do so is a violation of federal copyright laws.