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Chapter 1 Marketing Strategy Chapter 1 Strategic Market Planning.

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Presentation on theme: "Chapter 1 Marketing Strategy Chapter 1 Strategic Market Planning."— Presentation transcript:

1 Chapter 1 Marketing Strategy Chapter 1 Strategic Market Planning

2 Chapter 1 Review Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The marketing concept states that an organization should try to provide products that satisfy customers' needs through a coordinated set of activities that allow the organization to achieve its goals.

3 Chapter 1 Strategic Market Planning Process I Analysis of External, Customers, and Internal Environment SWOT Analysis Organizational Mission, Goals and Objectives Corporate or SBU Strategy

4 Chapter 1 Strategic Market Planning Process II Marketing Goals and Objectives Marketing Strategy Implementation Evaluation and Control

5 Chapter 1 Organizational Mission, Goals, and Objectives A mission statement defines an organization and describes its reason for being, what and whom it represents, and the values or beliefs for which it stands. Goals are general statements of desired accomplishments expressed in qualitative terms. Objectives are specific and quantitative benchmarks that can be used to gauge progress toward the achievement of a previously established goal.

6 Chapter 1 Corporate or Business-Unit Strategy A corporate strategy, the central scheme or means for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve the desired goals and objectives.

7 Chapter 1 Marketing Objectives Should be Consistent with organizational goals. Expressed in clear, simple terms. Written so that their accomplishment can be measured accurately. Expressed in terms of a unit of measurement that can be measured. Marketing objectives should be reconsidered for each planning period.

8 Chapter 1 Marketing Strategy Must Fit the needs and purposes of the selected target market. Be realistic given the organization's available resources and environment. Be consistent with the organization's mission, goals, and objectives. Be evaluated to determine its effect on the organization's sales, costs, image, and profitability.

9 Chapter 1 Staff Marketing Positions Coordinating Marketing Activities Communicating Ideas and Information Motivating Employees Marketing Implementation

10 Chapter 1 Evaluation and Control Implementation of any marketing strategy would be incomplete without an assessment of its success and the creation of control mechanisms to provide and revise the strategy, its implementation, or both if necessary. This evaluation and control serve as the beginning point for the planning process in the next planning cycle. Because strategic market planning is a never-ending process, managers should have a system for monitoring and evaluating implementation success on an ongoing basis (i.e., compare results with objectives).

11 Chapter 1 Five Purposes of a Marketing Plan 1) Explains the present and future situations of the organization. 2) Specifies the outcomes that are expected (goals and objectives) so the organization can anticipate its situation at the end of the planning period. 3) Describes the specific actions that are to take place so the responsibility for each action can be assigned. 4) Identifies the resources that will be needed to carry out all planned actions. 5) Permits the monitoring of each action and its results so that controls may be implemented.

12 Chapter 1 Customer-Oriented Organizational Design Traditional Organizational Structure Customer-Oriented Organizational Structure Customers Frontline Employees Middle Managers CEO Customers Frontline Employees Middle Managers CEO

13 Chapter 1 Customer Value

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