Marketing_Management_-_Part_I_-_Ch02 - Contents Chapter 2 Developing Marketing Strategies and Plans.2 Chapter Questions.2 Phases of Value Creation and

Marketing_Management_-_Part_I_-_Ch02 - Contents Chapter 2...

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Contents Chapter 2: Developing Marketing Strategies and Plans ....................................................................................... 2 Chapter Questions ........................................................................................................................................................... 2 Phases of Value Creation and Delivery ................................................................................................................... 2 What is the Value Chain? .............................................................................................................................................. 3 What is a Marketing Plan? ............................................................................................................................................ 4 Defining the Corporate Mission ...................................................................................................................................... 4 Corporate Headquarters’ Planning Activities ............................................................................................................ 4 Good Mission Statements ................................................................................................................................................. 4 Vague &Google Mission ..................................................................................................................................................... 5 Product Orientation vs. Market Orientation ............................................................................................................... 6 Dimensions Define a Business ........................................................................................................................................ 6 Characteristics of SBUs ...................................................................................................................................................... 6 The Strategic Planning Gap .............................................................................................................................................. 7 What is Corporate Culture? .............................................................................................................................................. 7 The Business Unit Strategic Planning Process ......................................................................................................... 8 SWOT Analysis ....................................................................................................................................................................... 9 Market Opportunity Analysis (MOA) ............................................................................................................................. 9 Goal Formulation and MBO ............................................................................................................................................. 10 Porter’s Generic Strategies ............................................................................................................................................ 10 Marketing Plan Contents ................................................................................................................................................. 11 Evaluating a Marketing Plan .......................................................................................................................................... 11 For Review ............................................................................................................................................................................. 11 Categories of Marketing Alliances ............................................................................................................................... 11 McKinsey’s Elements of Success ................................................................................................................................. 12 Core Business Processes ............................................................................................................................................. 12 Characteristics of Core Competencies ...................................................................................................................... 12 Maximizing Core Competencies ................................................................................................................................... 13 What is Holistic Marketing? ............................................................................................................................................ 13 Questions to Address in Holistic Marketing ............................................................................................................. 13 The Strategic Planning, Implementation, and Control Processes .................................................................. 14
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Chapter 2: Developing Marketing Strategies and Plans Chapter Questions How does marketing affect customer value? How is strategic planning carried out at different levels of the organization? What does a marketing plan include? This chapter begins by examining some of the strategic marketing implications in creating customer value. We’ll look at several perspectives on planning and describe how to draw up a formal marketing plan. Through the chapter, we’ll address the three questions listed in the slide. Phases of Value Creation and Delivery We can divide the value creation and delivery sequence into three phases.2, Choosing the Value (1 st Phase): Represents the “homework” marketing must do before any product exists. o Segmenting the market, Select the appropriate Target , and develop the offering’s value positioning. o The formula “ Segmentation, Targeting, Positioning (STP) ” is the essence of strategic marketing. Providing the Value ( 2 nd Phase ) : is. o Marketing must determine specific Product Features, Prices, and Distribution . Communicating the value (3 rd Phase): o Using Communication Tools like Utilizing Sales Force, Internet and Advertising to announce and promote the product. o The value delivery process begins before there is a product and continues through development and after launch. Page 2 of 15
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What is the Value Chain? The Value Chain is a tool for identifying was to create more customer value because every firm is a synthesis of primary and support activities performed to design, produce, market, deliver, and support its product. Harvard’s Michael Porter has proposed the value chain as a tool for identifying ways to create more customer value. According to this model, Every firm is a synthesis of activities performed to Design, Produce, Market, Deliver, and Support its product.
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  • Marketing, ........., holistic marketing

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