Chap001_Intro

Marketplace what kind of opportunities and threats

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Unformatted text preview: creasing expansion into foreign markets is Increasing becoming a necessity to compete in the global marketplace. marketplace. What kind of opportunities and threats are What presented by the increasing global nature of the marketplace? the Marketing Management Process Marketing “Marketing Plan” Marketing planning Situation analysis/SWOT Establish marketing objectives Select target market(s) Develop marketing mix (later chapters) Develop (later Product Price Price Place Place Promotion (many new tools) Implementation and control Marketing Management Process Marketing Implementation and control of marketing plan Implementation of Implementation is putting plan into action performing marketing tasks on schedule performing tasks schedule Control (“plan vs. actual”) involves three basic steps Measuring results (w/predefined metrics) (w/predefined Measuring Comparing results with objectives Evaluate new actions to achieve objectives Marketing information systems and marketing research Need current, reliable, and valid information Marketing “Dashboard” Example Marketing Strategic Plan, Marketing Plan, and Other Functional Area Plans Other Strategic planning is top-management responsibility Marketing implications Marketing objecti...
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