L2-Strategic Planning&the marketing process

L2-Strategic Planning&the marketing process -...

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Steps in strategic planning Corporate level Business unit, product, and market levels Defining the company mission Setting company objectives and goals Designing the business portfolio Planning marketing and other functional strategies
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Marketing process 1) Analyzing market opportunities 2) Selecting target markets 3) Developing the marketing mix 4) Managing the marketing effort
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Product 4 P’s = Price Place Promotion Marketing Mix = 4P’s Marketing Mix means : -The set of controllable tactical marketing tools – 4 P’s that the firm blends to produce the response it wants in the target market.
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1. Analyzing marketing opportunities : Environmental scanning ( Refer to Lesson 4 notes ) 2. Selecting target markets : Market segmentation, Targeting and Positioning. ( Refer to Lesson 6 notes )
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3) Developing the marketing Mix- 4P’ Product Variety Quality Design Features Brand Name
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Unformatted text preview: Packaging Services Promotion Advertising Personal Selling Sales Promotion Public Relations Price List Price Discounts Allowances Payment period Credit terms Place Channels Coverage Assortments Locations Inventory Transportation Logistics Target Customers Intended Positioning Producer : 4Ps = Customer : 4Cs 4Ps 4Cs Product Customer Solution Price Customer Cost Place Convenience Promotion Communication 4) Managing the Marketing Effort Marketing Analysis Marketing Control Marketing Implementation Marketing Planning Measure result Evaluate result Take corrective action Turns plans into actions 4) Marketing Control Set Goals Measure Evaluate Take Corrective Performance Performance Action What do we want to achieve? What is happening? Why is it happening? What should we do about It?...
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L2-Strategic Planning&the marketing process -...

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