Contemporary Marketing, Second Canadian Edition
PART THREE OF THE MARKETING PLAN
In this section of the marketing plan you will develop your marketing strategies.
result of this process will be a plan that possess both internal and external fit – i.e., leverage
the organization’s strengths, minimize the effect of or eliminate its weaknesses, take
advantage of the external opportunities, and minimize the effect of, or avoid, market threats.
The first step in the process is to identify the segment(s) in the market you want to target.
Next, the optimal positions of your product mix, product lines, and individual product items
From this point forward, you will plan how to support the sales of your
products via promotional, distribution, and customer service efforts.
The strategic dimensions can be viewed via a continuum ranging from inadequate,
adequate, to leadership.
This perspective is meant to provide a basis from which to compare
the relative strategic targets (not necessarily “positions,” as strategy is more about where you
want to be, than where you actually are) of the industry players (i.e., your competitors).
“relative” consideration is important because it implies that the target is judged by how it
stacks up against competitors in the consumers’ mind (i.e., your place in the market).
to say that you can spend an extremely high amount of money, time, effort, resources,
attention, etc., on a particular dimension and still not be seeking a leadership position
because others in the industry are targeting the same position (i.e., level of focus).
words, your focus could be considered adequate, as this level of focus on a particular
dimension is the “cost of doing business” (i.e., what is expected by consumers and required
to compete in this industry given your overall comprehensive business strategy and it’s
corresponding fit and trade-off requirements, as well as the industry forces).
leadership position might be somewhat “easily” achieved if other players in the industry are
not (or can’t) focused on this dimension.
It is important to note that “adequacy” is not
necessarily a “bad thing.”
Rather, it implies that a firm is focusing on (doing) what at least
minimally (and perhaps optimally) needs to be done to compete with respect to a particular