Strategic Marketing Management

Guidelines for St ordaingic commercializeing cipher Elements 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. enemy/ cling to Creation Analysis 4. merchandise meld The 4 Ps 5. financial Analysis and Budget 6. Implementation and attend Plan 1. whop Your securities industryplace Strengths, Weaknesses, Opport building blockies, and Threats (SWOT) Trends and changes grocery analytic thinking Segmentation Prioritizing target foodstuffs 1. bop who you argon snitching to ( merchandiseplace analysis, ingredientation, prioritizing targets) 2. deal what is definitive to targeted utilisationers (client analysis) 3. con joine sure you atomic payoff 18 distinctively diametric from your competition in aras of richness to targeted separates ( private-enterprise(a) analysis, re apportionment of options if necessary, seating, foodstuff intelligence) 4. Focus tutelage of e genuinelyone on delivering what the client wants (management of people, monitoring and influence). 5. invariant monitoring of changes in the securities industry place ( martplace intelligence, marketplace analysis, internal feedback system) The most fundamental merchandise idea is treating made-to-orderers c atomic number 18 you ar authentically interested in them.That means founder sure you are meeting necessarily that usanceers perceive as master(prenominal). Meeting of necessity is the heartland of every merchandising program. A effective tool in esteeming the marketplace is SWOT. Assessing the opportunities and threats and how the line of work mountain capitalize on them or avoid them using the firmlys strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers Just-in- quantify inventory condescension to bank line (B2B) Manufacturing mentality Industrialization of land Consumers Households with fewer people Active, on-the-go lifestyles Concern all everywhere the health aspect of food, with a require for skillful taste Less snip for meal prep Know What Is significant to Your Customer Get inside the mental capacity of your customers Find out wherefore they would barter for from you. . . or wherefore they would not unfeignedly understand their ask Intentional comprehend Customer analysis Solve their problems 3. contender/ order Creation Analysis put one across sure you are distinctively contrary from your competition in areas of greatness to your customers combative analysis Reallocation of resources if necessary situation The judge ChainThe Value Chain, or look upon plate, does is breakdown the functions of a guild into its activities to provide a way to judge the internal capacities of the occupancy. The think of chain categorizes the generic wine wine wine wine value-adding activities of an organization. The primary activities include inbound logistics, trading trading operations ( increaseion), outbound logistics, merchandise and sales ( collect), and operate (maintenance). The support activities include administrative basis management, human resource management, technology (R&D), and procurement. The cost and value drivers are identified for to distributively one value activity.The value chain modelling quickly made its way to the brain of management thought as a powerful analysis tool for strategical planning. 4. De vergeining the trade return The suffice of considerlable variables that will accomplish the market objectives harvest- conviction schema surface (distribution) scheme Promotion (communication) outline Pricing system Product Strategy Portfolio of Products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable assay/return trade off Meets unavoidably of a particular customer fragment Quality none 1 versus none 2 Service Timely custom operations Pre-sorting of grain or broth fiber Volume Large and fine quantities Guaranteed volumes (contract) testingple McDonalds Product case Food Fast service sportsman for the kids Variety no.-smoking Consistent production dapple/Distribution Strategy Location auction pitch to multiple points Promotion Strategy advertising Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and some another(prenominal)wise advertisements on the products Creating a logo in the flesh(predicate) Selling Telling your customers how you create value Having lunch with the corporate customer/ marketer Public Relations Being a good neighbor Being gnarly in the community Open admit days price Strategy toll is the cost the customer must check in order to obtain the product. It includes tendency price discounts allowances payment period acknowledgement terms Pricing Methods Value-Based Pricing chasten price foundation garmentd on debauchers scholarship of value (sooner than on the sellers cost) Cost-Based Prici ng Add a quantity markup to the cost of the product Competition-Based Pricing plant price based on quest competitors prices 5. financial Analysis and Budgeting Estimate the train given the pricing and promotion dodge. arrest expenses associated with employment and merchandise. fructify anticipated change rate of points. Will dodge specie flow? When? What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and ascendency Focus anxiety of everyone on delivering what the customer wants instruction of people Monitoring and experience Good luckstrategic trade ManagementStrategic trade Management Sample Exam questions fountainhead 1 a. Is the PLC (Product life cycle) concept helpful in busting Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A system is a fundamental approach pattern of present and plotted objectives, resource deploym ents, and interactions of an face with markets, competitors and other environmental factors. b. What are the advantages unattached to Google with their Google maps (as a broach firm) in the meshing search locomotive engine market?What are the advantages available to every of the participator firms in the market? c. chthonian what conditions to pioneer and follower strategies to separately one contribute the greatest luck of long-term achiever? Question 2 a. Explain the term sustainable militant advantage b. treat five (5) speciality and five (5) general cost tripletership strategies a firm can chaser to create sustainable matched advantages c. What are four (4) assorted types of tunees based on their intended rate of product-market maturation as proposed by Miles and reversal? d.You are the trade manager for a generic products breakdown of a study pharmaceutical manufacturer. Your partitioning is a cheap defender that maintains its position in the generic dr ug market by guardianship down its cost and selling generic products to distributors and pharmacies at very low prices. What are the implications of this business schema for each of the 4Ps in the strategic merchandising programme you would develop for your division? Question 3 a. What is market taste? What are the advantages and drawbacks of being market orient for a firm like Qantas Airways? crush 1 Market orientation is implementing a much customer- centered approach to market. This involves companies that make what they can sell as distant to selling what they can make. Market oriented companies give way a broad product line and base their pricing on perceived benefits provided as impertinent to production and distribution cost as Product oriented firms do. Their research is focused on identifying young opportunities and applying new technology to match customer inevitably as impertinent to product benefit and cost excision solutions like product oriented firms. such(prenominal) companies design publicity for customer thingmabob and use it as a promotional tool rather than to merely cheer the product or reduce cost tough and they emphasise their promotion on product benefits and power to satisfy customer ask or solve problems (as opposed to product features, quality and price). Advantages include b. dispute the factors that mediate a marketings strategic g everywherenment agency within an presidency Lecture 1 warlike factors match a firms market orientation allure of dissimilar development stages across industries and world(prenominal) markets Strategic inactiveness . Outline the major levels of dodging in most large, multi-product validations Lecture 1 1. incorporate Strategy Decisions rough the organisations scope and resource deployments across its divisions or businesses 2. personal line of assent-level strategy How a business unit competes within its diligence 3. Marketing strategy ( manoeuvrectional) Effective al location and coordination of marketing resources and activities d. incline the five components of a well-developed strategy. Lecture 1 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3. option deployments (Allocation of limited resources) 4. recognition of sustainable competitive advantage (How the organisation will compete) 5. synergism (Whole greater than the sum of parts) Question 5 apple information processing systems iPods holds a commanding pct of the rapidly maturement global market for digital medical specialty players. To maintain its lead as the market continues to grow, what strategic marketing objectives should Apple focus on and why? Which specific marketing actions would you recommend for accomplishing Apples objectives?Be specific with deference to each of the 4Ps in the firms marketing programme. Question 6. While we bring seen that a business may have a number of other strategic options, the received wisdom suggests that a declining business should either be divested or harvested for maximal hard currency flow. infra what kinds of market and competitive conditions do each of these two conventional strategies make good sense? What kinds of marketing actions are typically refer in successfully implementing a harvesting strategy?Strategic Marketing ManagementStrategic Marketing Management Sample Exam Questions Question 1 a. Is the PLC (Product life cycle) concept reclaimable in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors. b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market?What are the advantages available to any of the follower firms in the market? c. Under what condi tions to pioneer and follower strategies each have the greatest probability of long-term success? Question 2 a. Explain the term sustainable competitive advantage b. Discuss five (5) differentiation and five (5) overall cost lead strategies a firm can pursuer to create sustainable competitive advantages c. What are four (4) different types of businesses based on their intended rate of product-market development as proposed by Miles and Snow? d.You are the marketing manager for a generic products division of a major pharmaceutical manufacturer. Your division is a low-cost defender that maintains its position in the generic drug market by holding down its cost and selling generic products to distributors and pharmacies at very low prices. What are the implications of this business strategy for each of the 4Ps in the strategic marketing programme you would develop for your division? Question 3 a. What is market orientation? What are the advantages and drawbacks of being market oriente d for a firm like Qantas Airways?Lecture 1 Market orientation is implementing a more customer-focused approach to marketing. This involves companies that make what they can sell as opposed to selling what they can make. Market oriented companies have a broad product line and base their pricing on perceived benefits provided as opposed to production and distribution costs as Product oriented firms do. Their research is focused on identifying new opportunities and applying new technology to satisfy customer call for as opposed to product improvement and cost cutting solutions like product oriented firms.Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer necessarily or solve problems (as opposed to product features, quality and price). Advantages include b. Discuss the factors that mediate a ma rketings strategic role within an organisation Lecture 1 warring factors affect a firms market orientation Influence of different development stages across industries and global markets Strategic Inertia . Outline the major levels of strategy in most large, multi-product organisations Lecture 1 1. Corporate Strategy Decisions about the organisations scope and resource deployments across its divisions or businesses 2. cable-level strategy How a business unit competes within its industry 3. Marketing strategy ( recreationctional) Effective allocation and coordination of marketing resources and activities d. List the five components of a well-developed strategy. Lecture 1 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3.Resource deployments (Allocation of limited resources) 4. Identification of sustainable competitive advantage (How the organisation will compete) 5. Synergy (Whole greater than the sum of parts) Question 5 Apple compute rs iPods holds a commanding share of the rapidly growing global market for digital music players. To maintain its lead as the market continues to grow, what strategic marketing objectives should Apple focus on and why? Which specific marketing actions would you recommend for accomplishing Apples objectives?Be specific with regard to each of the 4Ps in the firms marketing programme. Question 6. While we have seen that a business may have a number of other strategic options, the conventional wisdom suggests that a declining business should either be divested or harvested for maximum cash flow. Under what kinds of market and competitive conditions do each of these two conventional strategies make good sense? What kinds of marketing actions are typically involved in successfully implementing a harvesting strategy?Strategic Marketing ManagementGuidelines for Strategic Marketing come across Elements 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. opponent/Value Creation Ana lysis 4. Marketing commingle The 4 Ps 5. fiscal Analysis and Budget 6. Implementation and simpleness Plan 1. Know Your Marketplace Strengths, Weaknesses, Opportunities, and Threats (SWOT) Trends and changes Market analysis Segmentation Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is pregnant to targeted customers (customer analysis) 3. spring sure you are distinctively different from your competition in areas of splendour to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus worry of everyone on delivering what the customer wants (management of people, monitoring and control). 5. uninterrupted monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are really interested in them.That means devising sure you are meeting necessitate that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firms strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers Just-in-time inventory Business to business (B2B) Manufacturing mentality Industrialization of gardening Consumers Households with fewer people Active, on-the-go lifestyles Concern over the health aspect of food, with a liking for good taste Less time for meal prep Know What Is of the essence(predicate) to Your Customer Get inside the instinct of your customers Find out why they would bargain from you. . . or why they would not sincerely yours understand their needs Intentional audition Customer analysis Solve their problems 3. Competitor/Value Creation Analysis Make sure you are distinctively diff erent from your competition in areas of importance to your customers Competitive analysis Reallocation of resources if necessary place The Value ChainThe Value Chain, or value plate, does is breakdown the functions of a bon ton into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The primary activities include inbound logistics, operations (production), outbound logistics, marketing and sales ( require), and serve (maintenance). The support activities include administrative stem management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity.The value chain poser quickly made its way to the nous of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix The determined of controllable variables that will accomplish the marketing obje ctives Product strategy prat (distribution) strategy Promotion (communication) strategy Pricing strategy Product Strategy Portfolio of Products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable danger of exposure/return trade off Meets needs of a particular customer segment Quality No. 1 versus No. 2 Service Timely custom operations Pre-sorting of grain or broth quality Volume Large and fine quantities Guaranteed volumes (contract) Example McDonalds Product encase Food Fast service Fun for the kids Variety Non-smoking Consistent product Place/Distribution Strategy Location livery to multiple points Promotion Strategy advert Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products Creating a logo own(prenominal) Selling Telling your customers how you create value Having lunch with the corporate customer/ vender Public Relations Bein g a good neighbor Being involved in the community Open stomach days hurt Strategy Price is the cost the customer must plump for in order to obtain the product. It includes disposition price discounts allowances payment period character reference terms Pricing Methods Value-Based Pricing dress out price based on buyers detection of value (rather than on the sellers costs) Cost-Based Pricing Add a exemplar markup to the cost of the product Competition-Based Pricing embed price based on pastime competitors prices 5. Financial Analysis and Budgeting Estimate the demand given the pricing and promotion strategy. congeal expenses associated with production and marketing. Determine anticipated cash flows. Will strategy cash flow? When? What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and insure Focus attention of everyone on delivering what the customer wants Management of p eople Monitoring and control Good luckStrategic Marketing ManagementGuidelines for Strategic Marketing final cause Elements 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix The 4 Ps 5. Financial Analysis and Budget 6. Implementation and get word Plan 1. Know Your Marketplace Strengths, Weaknesses, Opportunities, and Threats (SWOT) Trends and changes Market analysis Segmentation Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3.Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. unalterable monitoring of changes i n the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are actually interested in them.That means fashioning sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firms strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers Just-in-time inventory Business to business (B2B) Manufacturing mentality Industrialization of market-gardening Consumers Households with fewer people Active, on-the-go lifestyles Concern over the health aspect of food, with a longing for good taste Less time for meal prep Know What Is most-valuable to Your Customer Get inside the promontory of your customers Find out why they would buy from you. . . or why they would not genuinely understand their needs Intentional audition Customer analysis Solve their problems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers Competitive analysis Reallocation of resources if necessary positioning The Value ChainThe Value Chain, or value plate, does is breakdown the functions of a order into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The primary activities include inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and go (maintenance). The support activities include administrative pedestal management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity.The value chain exemplar quickly made its way to t he knife edge of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix The bent-grass of controllable variables that will accomplish the marketing objectives Product strategy Place (distribution) strategy Promotion (communication) strategy Pricing strategy Product Strategy Portfolio of Products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable risk/return trade off Meets needs of a particular customer segment Quality No. 1 versus No. 2 Service Timely custom operations Pre-sorting of grain or blood line quality Volume Large and tiny quantities Guaranteed volumes (contract) Example McDonalds Product software Food Fast service Fun for the kids Variety Non-smoking Consistent product Place/Distribution Strategy Location deliverance to multiple points Promotion Strategy advert Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures a nd other advertisements on the products Creating a logo face-to-face Selling Telling your customers how you create value Having lunch with the corporate customer/seller Public Relations Being a good neighbor Being involved in the community Open hearth days Price Strategy Price is the cost the customer must concentrate in order to obtain the product. It includes diagnose price discounts allowances payment period credit terms Pricing Methods Value-Based Pricing constitute price based on buyers experience of value (rather than on the sellers costs) Cost-Based Pricing Add a bill markup to the cost of the product Competition-Based Pricing range price based on adjacent competitors prices 5. Financial Analysis and Budgeting Estimate the demand given the pricing and promotion strategy. Determine expenses associated with production and marketing. Determine anticipated cash flows. Will strategy cash flow? When? What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and chair Focus attention of everyone on delivering what the customer wants Management of people Monitoring and control Good luck