marketing chapter 28

marketing chapter 28 - Chapter 2 Company and Marketing...

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Chapter 2 Company and Marketing Strategy: Partnering to Build Customer Relationships Previewing the Concepts—Chapter Objectives 1. Explain companywide strategic planning and its four steps. 2. Discuss how to design business portfolios and develop growth strategies. 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring return on marketing. J UST THE B ASICS Chapter Overview This chapter looks at steps two and three of the marketing process—designing customer- driven marketing strategies and constructing marketing programs. It begins with a discussion of companywide strategic planning, something many students probably don’t know even exists. But, as the chapter points out, marketing plans and programs are not developed in a vacuum. They must be a part of and consistent with the broader, overall strategic plans. Next we discuss how marketers, guided by the strategic plan, work closely with others inside and outside the firm to serve customers. We then examine marketing strategy and planning—how marketers choose target markets, position their market offerings, develop a marketing mix, and manage their marketing programs. Finally, we look at the important step of measuring and managing return on marketing investment. Chapter Outline 1. Introduction a. Nike has forever changed the rules of sports marketing strategy. b. It has built the Nike swoosh into one of the world’s best known brand symbols. c. The Nike of today is far different from the start-up company of 40 years ago. d. As Nike has grown and matured—moving from maverick to mainstream —its marketing strategy has matured as well. 52
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e. To stay on top in the competitive sports apparel business, Nike will have to keep finding fresh ways to bring value to customers. 2. Companywide Strategic Planning: Defining Marketing’s Role a. Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities . b. Strategic planning is the basis for all of the rest of planning for the firm. c. Companies typically develop several types of plans: annual, long-range, and strategic. d. Annual and long-range plans focus on keeping their current businesses running. e. Strategic plans involve adapting the firm to take advantage of opportunities in its constantly changing environment. Applying the Concept Have students break into groups of four to six to discuss what a likely strategy would be for attracting new students to their University. Have them develop a brief statement that describes the University’s fit between their goal of attracting the best students and their capabilities for then educating those students. f.
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This note was uploaded on 03/24/2012 for the course ECON 201 taught by Professor Kovak during the Winter '09 term at Air Force Academy.

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marketing chapter 28 - Chapter 2 Company and Marketing...

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