ch2MktgStrat - Chapter 2 Developing Successful Marketing...

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Chapter 2 Developing Successful Marketing and Organizational Strategies Fundamentals of Marketing Judy Foxman Senior Lecturer of Marketing
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The Three Levels of Strategy in Organizations: Corporate, Business Unit, and Functional
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Analyze the environment and set the strategy Marketing Strategy Overview Company (strengths & weaknesses) Competition Customers S egment the market T arget your customers P osition your product Leveraging real tools to implement strategic objectives Product Price Promotion Place
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Marketing Framework Formulation of strategic objectives Marketing Mix Marketing Analysis P roduct P ricing P lace/channel P romotion S egment T arget P osition C ompany C ompetition C ustomer
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Marketing Analysis – the “3 C’s” C ompany Analysis Company core values and mission Competencies Profitability C ompetitor Analysis Who are current and future competitors? What is their strategy? How will they respond to our actions? C ustomer Analysis Who buys what and how much (now and in future)? When and where? How do they get information? What do they want? What do they know; beliefs? Benefits Segments
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Company Analysis – Core Values Core Values – The fundamental, passionate, and enduring principles of an organization that guide its conduct over time. Developed by management and are consistent
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ch2MktgStrat - Chapter 2 Developing Successful Marketing...

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