{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture 3 Customer Based Strategic Marketing february 8, 10, 15, 17

Lecture 3 Customer Based Strategic Marketing february 8, 10, 15, 17

Info iconThis preview shows pages 1–19. Sign up to view the full content.

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon

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

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Strategic Marketing February 8, 10, 15, and 17 Takeaways: How does the marketing philosophy contribute to Strategic Management at the (broad) corporate and the narrow (product-market) level? (a) Define the organization mission and identify growth opportunities (b) Analyze Business and Product Performance (Portfolio and Value Analysis) (c) Match the product to the customers’ needs (Segmentation, Targeting, and Positioning) Strategy: “Who” are we “What” do we want to be “Where” are we now “How” to we get there Starts with defining the organization’s mission (Who are we and what do we want to be) From a marketing perspective, the Corporate Mission Statement (Vision/Mission/Values) should (a) Tell us “Who” our customers are (b) Explain “What” customer needs our company is trying to meet (c) Explain “How” our Company will satisfy those needs better than the competition (d) “Fit” the current social/political/market environment Examples of corporate vision / values: Cleveland Clinic: Every life deserves world class care Sara Lee: Our vision is to simply delight you, every day Mary Kay: To give unlimited opportunity to women Revlon: In the factory Revlon manufactures cosmetics, but in the store we sell hope Walt Disney: To make people happy Windows: Life Without Walls The key in these mission/vision /value statements is to move away from products to underlying needs: Amazon.com: From - “We sell books, videos, CD’s. toys, electronics, etc.” - to - “We make the Internet buying experience fast, easy, and enjoyable.” Home Depot: From - “We sell tools and home repair and improvement items” – to - “We provide advice and solutions that transform ordinary homeowners in to Mr. and Mrs. Fixits.” (b) Identifying Market Opportunities (part of the SWOT analysis) (Where are we and where do we go from here) Mr. Clean Takes Car-Wash Gig Procter & Gamble Expands Into Franchising in Its Pursuit of New Areas for Growth Cincinnati-based P&G wants to put its brands to work selling services as a way of boosting U.S. revenue and increasing awareness around Tide and its other products. See related video: http://www.cnbc.com/id/15840232? video=1695838613&play=1 ( Courtesy: Katie Chum, Spring 2011 ) Rural India Snaps Up Mobile Phones Demand Among Poor Farmers Keeps an Industry Growing as Other Sectors of the Economy Are Jolted Amazon Raises an E-Book Specter Product / Market Opportunities Examples: o Repackaging Crystal Lite in colorful plastic bottles o Introduce a new “spreadable” cream cheese called Philly For Toast o TCBY introducing its popular selling frozen dessert in USA in China o Victoria’s Secret introducing a new line of elegant makeup o Clinic putting an oil reducing ingredient in their shampoo for their women customers in India o McDonald’s introducing the Maharaja burger in India (c) Analyzing Product (Strategic Business Unit, SBU) Performance: “How” are we doing - (a) Portfolio analyses (b) Value analysis Portfolio Analysis: Broader (at the Strategic Business Unit – SBU – level):...
View Full Document

{[ snackBarMessage ]}

Page1 / 78

Lecture 3 Customer Based Strategic Marketing february 8, 10, 15, 17

This preview shows document pages 1 - 19. Sign up to view the full document.

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