MARK 201 Chapter Notes - Chapter 2: Marketing Mix, Market Segmentation, Swot Analysis
14 Dec 2016
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Objective-based process of developing and maintaining a strategic t between the organization"s goals and capabilities and its changing marketing opportunities. Planning marketing strategy as well as other functional strategies. Companies must develop strategies for growing and downsizing portfolios (eliminates products or business units that are not pro table or no longer t the company"s overall strategy) Provides a guiding philosophy (the marketing concept) Provides input to strategic planners (identi es opportunities) Partner relationship management (internal => effective value chain ; external => form a superior value delivery network) Value delivery network includes company"s value chain, suppliers, distributors and customers. Goal: improved performance in delivering value to customers. Objective: build pro table customer relationships through value creation. Strategies include: market segmentation, targeting, differentiation and positioning. Function 1: swot analysis: strengths, weaknesses, opportunities and threats. Function 2: marketing plan (executive summary, objectives and issues, marketing strategy, swot, budgets, controls )
