maintaining a market mix that will produce mutually satisfying exchanges with

Maintaining a market mix that will produce mutually

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maintaining a market mix that will produce mutually satisfying exchanges with target markets Establishing a Strategic Focus: -Aggressive (many internal strengths/ many external opportunities) -Diversification (many internal strengths / many external threats)
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-Turnaround (many internal weaknesses / many external opportunities) -Defensive (many internal weaknesses / many external threats) Implementation, Evaluation, and Control The marketing audit’s role is to make sure that the marketing plan emphasizes the country’s strengths that are compatible with the shifting market environment Competitive Advantage The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition -Cost -Product /Service Differentiation -Niche Product /Service Differentiation -Brand names -Strong dealer -Product reliability -Image service Niche Advantage achieved when a firm seeks to target and effectively serve a small segment of the market Used by small companies With limited resources May be used in a limited geographic market Competitive Advantage Positional Strategies Market leader Market challenger Market follower Market nicher Results of Competitive Advantage -Satisfaction -Loyalty -Market share -Profitability Strategic Opportunity Matrix
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Consolidation Strategies Retrenchment Coca-Cola severely reduces the advertising budget and distribution for Vanilla Coke Pruning Home Depot discontinues its EXPO stores Divesting eBay sells off Skype Balanced Scorecard
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Customer Focused Strategic Planning -Puts customer needs and wants first -Focuses on long-term, value-added relationships -Focuses on understanding customers in ways that enhance sustainable competitive advantages -Instills a corporate culture that places customers at the top of the organizational hierarchy -Finds ways to cooperate with suppliers and competitors to customers more effectively and efficiently
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  • Spring '08
  • Eaton

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