What%20Is%20Strategic%20Management%20Spring%202011

What%20Is%20Strategic%20Management%20Spring%202011 - Types...

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Types of Strategic Plans Organizational Level Type of Strategic Plan Key Strategic Decisions Corporate Corporate strategic Corporate vision plan Objectives & resource allocated to Grow and expand corporations. Business Business strategic SWOT analysis identifying plan strengths and opportunities using economies of scale. Marketing Marketing strategic plan Competitive advantage. Product marketing Specific products introduced plan to capture a certain mix by Executing an action plan.
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Marketing Strategy Planning Process Narrowing down from broad market opportunities that a firm might pursue to a specific strategy – choosing what to do and what not to do to achieve a competitive advantage. Marketing strategy specifies a specific target market and a specific marketing mix Not just “some” strategy, but one that will offer target customers superior value Segmentation helps pinpoint a specific target market Differentiation helps pinpoint a marketing mix that is different from and better than what is available from a competitor Screening criteria make it clear why you select a specific strategy (and why others are “screened out”) S.W.O.T. analysis identifies and lists a firm’s strengths and weaknesses and its opportunities and threats S.W.O.T helps identify relevant screening criteria (what is needed to get a competitive advantage)
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A Marketing Strategy C
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Marketing Strategy Marketing strategy can be defined as the firm’s identification of desirable market segments and the development of appropriate marketing mixes to appeal to these segments.
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A Marketing Strategy – showing the 4 P’s of a Marketing Mix Place Product Price Promotion C
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Overview of Marketing Strategy Planning Process Place Product Price Promotion C External Market Environment Technologies Political and Legal Cultural and Social Economic Narrowing down to focused strategy with quantitative and qualitative screening criteria Customers Needs and other Segmenting Dimensions Company Objectives Resources Competitors Current Prospective Positioning Targeting S. W. O. T.
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Japanese McDonalds photo
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Select target marketing approach Single target marketing approach Multiple target marketing approach Combined target marketing approach All customer needs Some generic market One broad- product market Homogenous (narrow) product- markets Segmenting into possible target markets Narrowing down to specific product-market Narrowing Down to Target Markets
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The Strategic Role of Brand Loyalty Generating Market Share Developing a Strong Customer Base Customer Equity
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The Learning Process Drive Cues Response Reinforcement
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The Strategic Planning Process General Strategic Planning Examine current situation Identify potential opportunities Set objectives Develop strategies Execute
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This note was uploaded on 03/06/2011 for the course SOP 3004 taught by Professor Dr.pamelad.hall during the Spring '08 term at FIU.

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What%20Is%20Strategic%20Management%20Spring%202011 - Types...

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