Lecture 3 Customer Based Strategic Marketing

Lecture 3 Customer Based Strategic Marketing - Strategic...

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Unformatted text preview: Strategic Marketing September 15, 17, 22, 24, and 29 Takeaways: How does the marketing philosophy contribute to Strategic Management at the (broad) corporate and the narrow (product-market) level? (a) Define the organization mission (b) Identify growth opportunities (c) Analyze Business and Product Performance (Portfolio and Value Analysis) (d) Match the product with the customers (Segmentation, Targeting, and Positioning) (a) Defining the organization mission: Market oriented mission statements 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 the current social/political/market environment Other vision statements: Cleveland Clinic: Every life deserves 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 make people happy Windows: Life Without Walls The key in these mission/vision statements is to move away from products to underlying needs: Amazon.com: From - We sell books, videos, CDs. toys, electronics, etc. - to - We make the Internet buying experience fast, easy, and enjoyable. Home Depot: From - We sell tools and home repair and improvement items to - We provide advice and solutions that transform ordinary homeowners in to Mr. and Mrs. Fixits. (b) Identifying Market Opportunities (part of the SWOT analysis) (Where are we and where do we go from here) Mr. Clean Takes Car-Wash Gig Procter & Gamble Expands Into Franchising in Its Pursuit of New Areas for Growth Rural India Snaps Up Mobile Phones Demand Among Poor Farmers Keeps an Industry Growing as Other Sectors of the Economy Are Jolted Amazon Raises an E-Book Specter SOM Mentoring and Networking Event October 3rd You are invited to the School of Managements 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 shoes, who are willing to provide feedback in a straight-forward, helpful manner....
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This note was uploaded on 02/21/2010 for the course MKTG 311 taught by Professor Chatterji during the Fall '08 term at Binghamton University.

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Lecture 3 Customer Based Strategic Marketing - Strategic...

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