MKT 5815 Chapter 6 Analysis Brendan O’Neal

MKT 5815 Chapter 6 Analysis Brendan O’Neal...

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Brendan O’Neal MKT 5815 Chapter 6 Analysis November 5, 2010 Dr. Gene Landrum Hodges University
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Business Marketing Planning: Strategic Perspectives Every organization needs a written plan via a marketing plan in order define its strategy to break into its target market, make its product or service known, and begin to generate revenue. Market-driven firms are driven by customers, their satisfaction level, and their ability to address the needs of the customer before the customer knows what it needs (Hutt and Speh, 2009). In order to do this the firm needs to plan; this is the purpose of having a marketing strategy. An effective marketing plan is synonymous to effective communication. It is the organization’s goal to effectively communicate with its stakeholders, customers and potential customers through marketing methods and it shows its understanding of customer needs. Successful execution of a business concept and marketing plan come from strategic positioning of the organization with contingent plans to continue to penetrate and serve the target market (Weinclaw, 2008). If we took a look at successful organizations such as Apple, Microsoft, Nintendo, Sony, and many others, we would be able to examine specifics of successful marketing and show specific examples of successful, effective communication with their target markets. Marketing strategies differ between types of business relationships; business to business marketing strategies focus on saving money while business to consumer strategies focus on maximizing profit while differentiating the product from the competition and staying competitive with comparable products (Hutt and Speh, 2009). An organization must be honest with itself while analyzing its marketing plan; a SWOT
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This note was uploaded on 01/30/2011 for the course MKT 5815 taught by Professor Kest during the Spring '10 term at Hodges University.

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MKT 5815 Chapter 6 Analysis Brendan O’Neal...

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