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Chapter 2: Marketing Strategy Planning

by: hadia wyne

Chapter 2: Marketing Strategy Planning Marketing- SCLT 2380

Marketplace > University of Houston > Economcs > Marketing- SCLT 2380 > Chapter 2 Marketing Strategy Planning
hadia wyne
GPA 3.0
Distribution Channels

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About this Document

An outline of the chapter and highlighted points.
Distribution Channels
Class Notes
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This 2 page Class Notes was uploaded by hadia wyne on Friday March 6, 2015. The Class Notes belongs to Marketing- SCLT 2380 at University of Houston taught by Elliot in Spring2015. Since its upload, it has received 126 views. For similar materials see Distribution Channels in Economcs at University of Houston.


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Date Created: 03/06/15
Chapter 2 Marketing Strategy Planning Marketing management process Planning marketing activities Directing the implementation of the plans Controlling these plans What is marketing strategy 0 It provides a big picture of what a rm does in the market speci es a target and marketing mix 0 Target market is a similar group of customers to whom a company wishes to appeal 0 Marketing mix is a controllable variables the company puts together to satisfy the target group The four P39s in the marketing mix 0 Product price promotion price 0 Product concerned with developing the right product for the target market 0 Place concerned with all the decisions involved in getting the right product to the target market39s place 0 Promotion concerned with telling the target market or others in the channel of distribution about the right product 0 Price concerned with the kind of competition in the target market and the cost of the whole marketing mix Marketing plan o It is a written statement of a marketing strategy 0 It should include What marketing mix will be offered to whom and for how long What company resources would be needed What results are to be expected It should include some procedures so they can know when something goes wrong and they can nd a solution ex comparing actual sales against expected sales Implementation Once a marketing plan is in the place the manager then seeks out to put it into operations Customer equity Marketing strategy helps to guide the rm to increase the customer equity Marketing should bene t rmD identify opportunities to enhance customer equity focus should be on longterm pro ts pro ts depend on customer equ y Attractive opportunities Breakthrough opportunities are hard to copy strategies that will bring in pro ts Competitive advantage is when the four P5 are used to create excellence and it is viewed from the customer s perspective Avoid hit or miss marketing SWOT analysis Identi es and lists the rms strengths weaknesses opportunities and threats Being able to examine customers competition and external market environment A marketing manager can use this analysis and can take advantage of many opportunities and avoid weaknesses International opportunities should be considered The world is getting smaller and telecommunications and traditional barriers are improving Competitive advantage Early start and better trends leads to long term success Risks which are high in the foreign world


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