Marketing Planning

Marketing Planning - Marketing Approach Defined -A...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Marketing Approach Defined -- “A marketing approach starts the planning process with the consumer, letting the consumer’s needs and wants guide the strategy of the organization.” With a marketing approach, participants in the long-range planning process, from department head to chief executive officers would: 1. Know their customers so well that they would not only know what the customers want, but also the customers’ deeper needs. 2. Design services so that they precisely and effortlessly match the needs of the customers. 3. Present the services to the customers so that they can see how the services satisfy their needs.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Non-Market Driven Management Managers often make many sweeping generalizations about competitors, but don’t have the facts to make intelligent comparisons of competitor features, costs, or market positions. Key functional areas of the business tend to operate independently without cohesive effort to ensure that all the functions are geared to meet the requirements of target markets. Sales and marketing programs revolve around aggressive efforts to get purchase orders rather than identifying and solving customer problems.
Background image of page 2
Non-Market Driven Management Most companies tend to view their markets too broadly, classifying them by product types and sizes or manufacturing methods rather then user requirements and applications. They are not close enough to their customers to understand their needs and, therefore, cannot tailor a package to provide greater value. Many companies’ thinking and actions tend to be dominated by existing product and process features that are often blindly or arrogantly presumed to provide an unquestionable competitive advantage.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Market Driven Companies They objectively compare their existing capabilities with changing market requirements and are willing to make the changes necessary to serve attractive market segments while foregoing or withdrawing from others. All thinking and actions of a market driven company begin with a complete understanding of the applications and requirements of specific customer groups They constantly strive to improve their costs and/or product performances so they can provide greater value. Managers work together as a cross-functional team to ensure that all priorities, activities, and decisions are targeted to customers and synchronized to serve target market needs They study and document competitor performance to determine relative strengths and weaknesses in each market niche
Background image of page 4
Delivering Value When customers have choices, value delivery is much more challenging …..So is value determination Delivering Value starts with the customer
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
The Entrepreneurial Trap for Marketing Organizations Just because you like to do something does not mean a successful business can be created around it.
Background image of page 6
Information on customers permeates every administrative function. Strategic and tactical decisions are made
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 56

Marketing Planning - Marketing Approach Defined -A...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online