Undergraduate environment strategy and planning

Undergraduate environment strategy and planning - The...

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Unformatted text preview: The Environment of Marketing: Fitting Plans and Strategy to the Marketplace "Marketing is not an event, but a process . . . It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely." - Jay Conrad Levinson Introductory Comments Business Graduates are expected to plan and strategize. Success requires being able to get at 35,000 feet, see the relevant patterns and make adjustments. Other people in the program will teach strategy and planning. This course will teach marketing strategy. Planning and Strategy are two very different things. Strategic Planning is an oxymoron . Framework for Marketing Planning Framework for Marketing Planning C hoose the Value Provide the Value C om m unicate the Value C ustom er segm entation M arket selection/focus Value positioning Product developm ent Service developm ent Pricing Sourcing/m aking Salesforce Sales Prom otion A dvertising Steps in the Postioning Process Steps in the Postioning Process 1. Identify relevant set of competitive products. 1. Identify relevant set of competitive products. 2. Identify the set of determinat atributes that define 2. Identify the set of determinat atributes that define the product space in which positions ofcurrent the product space in which positions ofcurrent offerings are located and collect information. offerings are located and collect information. 3. Determine products current location in the 3. Determine products current location in the product space (product positioning). product space (product positioning). 4. Determine customers most preferred combination 4. Determine customers most preferred combination of determinant attributes. of determinant attributes. 5. Examine the fit between preferences of marketing 5. Examine the fit between preferences of marketing segment and current position of product segment and current position of product 6. Select positioning or repositioning strategy 6. Select positioning or repositioning strategy The Marketing Environment Opportunities and Threats Regulation Competition Politics Society Technology Economic Conditions Marketing Strategies Product Place Price Promotional Respond to To manage a business wel is to manage its future; and to manage the future is to manage information. Marion Harper External Environment Seek Exposure to Broad Trends Relevant Trends Marketing Strategies Delineate Market Targeting- the firm must decide how many segments to cover and how to identify the best ones. Single Marketing Mix Single Marketing Mix Marketing Mix I Marketing Mix I Marketing Mix I Target Market Segment I Segment I (Target market) Target Market I I Target Market I Target Market I Segment I I Total market approach Concentration approach Multisegment approach Problem Recognition Information Search Evaluation of Alternatives Purchase Postpurchase Evaluation Consumer Behavior is a Process...
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Undergraduate environment strategy and planning - The...

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