Marketing mix- product creating value, price capturing value, place delivering, promotion communicating
CH 2: Marketing plan:
Marketing Strategy identifies, target market, related marketing mix, and plan for sustainable competitive
Creating Customer value:
Costumer excellence retaining loyal costumers and costumer service,
operational supply chain
management & efficient ops,
1 define business mission, 2 SWOT tool situation
analysis – Internal: strengths, weaknesses – external: opportunities what is happening and strategy is what can they do about it, threats.
3 identifying opportunities STP – segmentation, targeting, positioning.
4 implement marketing mix. Pricing: cost based, competitor
based, value based.
5-performance matrix- BCG – market growth rate and market share. Stars, question mark, cash cows, dogs.
penetration focus market on existing costumers,
product development new products,
market development same
marketing, new area,
diversification new product and market.
CH 8: STP Analysis:
Strategy & objectives Segmentation strategy:
Undifferentiated – mass marketing,
Differentiated separate into
severalt segments, Gad – banana rep, gap, old navy.
Concentrated concentrate all energy on one segment.
Micromarketing creating a
product for the consumer, buid a bear. Mass costumization – providing one to one marketing to masses.
self values, goals for life not just day.
Self concept – the image of oneself
Lifestyle – how
we live our lives to achieve goals. VALS is a tool, innovators achievers thinkers etc.