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Lecture 3 Customer Based Strategic Marketing

Lecture 3 Customer Based Strategic Marketing - S gic Marke...

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Strategic Marketing September 15, 17, 22, 24, and 29
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Takeaways: How does themarketing philosophy contributeto Strategic Management at the (broad) corporateand the narrow (product-market) level? (a) Definethe organization mission (b) Identify growth opportunities (c) Analyze Business and Product Performance(Portfolio and ValueAnalysis) (d) Match theproduct with the customers (Segmentation, Targeting, and Positioning)
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(a) Defining the organization mission: Market oriented mission statements
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From a marketing perspective, the Corporate Mission Statement (Mission/ Vision/Values) should (a) Tell us “Who” our customers are (b) Explain “What” customer needs our company is trying to meet (c) Explains “How” our Company will satisfy those needs better than the competition (d) “Fit” thecurrent social/political/market environment
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Other vision statements: Cleveland Clinic: Every lifedeserves world class care Sara Lee: Our mission is to simply delight you, every day Mary Kay: To give unlimited opportunity to women Revlon: To sell hope Walt Disney: To makepeoplehappy Windows: Life Without Walls
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Thekey in thesemission/vision statements is to move away from products to underlying needs: Amazon.com: From - “We sell books, videos, CD’s. toys, electronics, etc.” - to - “We maketheInternet buying experience fast, easy, and enjoyable.” HomeDepot: From - “Wesell tools and homerepair and improvement items” – to - “We provideadvice and solutions that transform ordinary homeowners in to Mr. and Mrs. Fixits.”
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(b) Identifying Market Opportunities (part of the SWOT analysis) (Whereareweand wheredo we go from here)
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Mr. Clean Takes Car-Wash Gig  Procter & Gamble Expands Into Franchising in Its Pursuit of New  Areas for Growth
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Rural India Snaps Up Mobile Phones  Demand Among Poor Farmers Keeps an Industry Growing as Other Sectors  of the Economy Are Jolted
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Amazon Raises an E-Book Specter 
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SOM Mentoring and Networking Event October 3rd     You are invited to the School of Management’s eighth annual  Mentoring and Networking Event  on Saturday, October  3rd.  The purpose of the  Mentoring and Networking Event  is to connect SOM alumni with current students to talk about  professional development topics like choosing an industry, a day-in-the-life with the company or in the job, the world of  work, resumes and interviewing questions, etc. Your goal is to develop a networking/mentoring relationship with the  alumni you meet. The morning consists of a networking reception, alumni panel, and small group discussion with your  mentor.  You will have an opportunity to ask questions and receive feedback from individuals who have been in your  shoes, who are willing to provide feedback in a straight-forward, helpful manner.  The event will run from 8:00 am to  12:30 pm.  You must be available to attend the entire event in order to sign-up for a slot.
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