marketing principles unit 2 the role of marketing

Unit U i - The Th Role R l off M Marketing k i in a Modern Organisation Planning and the Marketing Process CuuDuongThanCong.com https://fb.com/tailieudientucntt Previewing the Concepts Explain E l i companywide id strategic t t i planning l i and d its four steps Discuss how to design business portfolios and growth strategies p functional p planning g strategies g and Explain asses marketing’s role in strategic planning Describe the marketing process and the f forces that th t influence i fl it it List the marketing management functions, including the elements of a marketing plan plan CuuDuongThanCong.com https://fb.com/tailieudientucntt Planning Many companies operate without formal plans, yet these plans can provide many benefits such as: encouraging management to think ahead systematically, y y, forcing managers to clarify objectives and policies, and p helping the company to anticipate and respond quickly to environmental changes and sudden developments CuuDuongThanCong.com https://fb.com/tailieudientucntt Strategic Planning Strategic g Planning g is the Process of Developing and Maintaining a g Fit Between the Strategic Organizations' Goals and p and Its Changing g g Capabilities Marketing Opportunities CuuDuongThanCong.com https://fb.com/tailieudientucntt Steps in Strategic Planning CuuDuongThanCong.com https://fb.com/tailieudientucntt 3M A mission statement is a statement of an organisation’s i ti ’ purpose “ 3M solves “… sol es people’s problems by putting innovation to work for them.” http://www.3m.com/ CuuDuongThanCong.com https://fb.com/tailieudientucntt Setting Company Objectives and Goals Mission Statement Marketing M k i Objective # Marketing Strategy Marketing Strategy Marketing M k i Objective # Marketing Strategy Marketing M k i Objective # Marketing Strategy Marketing Strategy CuuDuongThanCong.com https://fb.com/tailieudientucntt Designing the Business Portfolio The business portfolio is the collection of businesses and products that make up the company The company must: analyse its current business portfolio or Strategic Business Units (SBU’s), decide which SBU SBU’s s should receive more more, less less, or no investment, pg growth strategies g for adding g new p products or develop businesses to the portfolio CuuDuongThanCong.com https://fb.com/tailieudientucntt QuickTime™ and a TIFF (Uncompressed) decompressor are needed to see this picture CuuDuongThanCong.com https://fb.com/tailieudientucntt The Marketing Process 10 CuuDuongThanCong.com https://fb.com/tailieudientucntt Porter’s Porter s Forces Model 19 CuuDuongThanCong.com https://fb.com/tailieudientucntt SWOT Analysis Draws Together strategic conclusions and their implications based on the facts Positive Implications Negative g Implications Internal Strengths Weaknesses External Opportunities Threats 20 CuuDuongThanCong.com https://fb.com/tailieudientucntt Connecting With Customers Market Segmentation: determining distinct groups of buyers (segments) with different needs, characteristics, or behavior Market Targeting: evaluating each segment’s attractiveness and selecting g one or more segments g to enter g arranging g g for a p product to Market Positioning: occupy a clear, distinctive, and desirable place relative to competing products in the minds of t target t consumers i.e i Chevy Ch Bl Blazer iis “lik “like a rock.” k” 21 CuuDuongThanCong.com https://fb.com/tailieudientucntt Whatt iis th Wh the diff difference between b t a market segment and a market target? 22 CuuDuongThanCong.com https://fb.com/tailieudientucntt Developing the Marketing Mix 23 CuuDuongThanCong.com https://fb.com/tailieudientucntt The P’s P s & C’s C s of the Marketing Mix 4 P’s 4 C’s Product Price Place Promotion Customer Solution Customer Cost Convenience Communication 24 CuuDuongThanCong.com https://fb.com/tailieudientucntt Sometimes there are some extra Ps People Physical Evidence Process 25 CuuDuongThanCong.com https://fb.com/tailieudientucntt Managing the Marketing Effort 26 CuuDuongThanCong.com https://fb.com/tailieudientucntt Product/Market Expansion Grid Existing Products New Products Existing Markets Market Penetration Product Development New M k Markets Market D Development l t Diversification 27 CuuDuongThanCong.com https://fb.com/tailieudientucntt Product/Market Expansion Grid Based on Starbucks Market Penetration: making more sales to currentt customers t without ith t changing h i it its products d t How? Add new stores in current market areas, improvements in advertising advertising, prices prices, etc etc Market Development: identify and develop new markets for its current products p How? Review new demographic (senior consumers) or geographic (Asian, European & Australian) markets k t 28 CuuDuongThanCong.com https://fb.com/tailieudientucntt Product/Market Expansion Grid Based on Starbucks Product Development: offering modified or new products to current markets markets How? Increasing food offerings, sell coffee in supermarkets extend to Frappuccino drinks supermarkets, drinks Diversification: start up or buy businesses outside current products and markets markets How? Currently testing two new restaurant concepts – Cafe Starbucks and Circadia Circadia, or branded casual clothing 29 CuuDuongThanCong.com https://fb.com/tailieudientucntt Contents of a Marketing Plan Executive Summary Current Marketing Situation Threats and Opportunity Analysis Objectives Marketing Strategy Action Programs Budgets Cont ols Controls 30 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing Department Organisation Functional Organisation Combination Plan Formats for Organising the Department Include: Market or Customer Organisation Geographic Organisation Product Management Organisation 31 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing Control Process 32 CuuDuongThanCong.com https://fb.com/tailieudientucntt Review of Concept p Connections Explain companywide strategic planning and its four steps Discuss how to design business portfolios and growth strategies Explain functional planning strategies and assess marketing’s role in strategic planning Describe the marketing process and the forces that influence it List the marketing management functions, including the elements of a marketing plan 33 CuuDuongThanCong.com https://fb.com/tailieudientucntt ... asses marketing? ??s role in strategic planning Describe the marketing process and the f forces that th t influence i fl it it List the marketing management functions, including the elements of a marketing. .. and assess marketing? ??s role in strategic planning Describe the marketing process and the forces that influence it List the marketing management functions, including the elements of a marketing. .. market target? 22 CuuDuongThanCong.com https://fb.com/tailieudientucntt Developing the Marketing Mix 23 CuuDuongThanCong.com https://fb.com/tailieudientucntt The P’s P s & C’s C s of the Marketing