Scribd Logo
Upload

Welcome to Scribd!

  • Foundations of Strategic Marketing Management: Vidhya Srinivas

    Uploaded by

    Vidhya Srinivas
    66 views15 pages
    explains about marketing strategy, Competitor analysis, product pricing strategies. Formulating Product-Market Strategies • Market-Penetration Strategy • Market-Development Strategy • Product-Development Strategy • Diversification • Strategy Selection • The Marketing Mix • 2. Budgeting Marketing, Financial, and Production • Resources • 3. Developing Reformulation and Recovery Strategies • 4. Drafting a Marketing Plan • 5. Marketing Ethics and Social Responsibility

    Original Title

    Marketing Strategy

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    explains about marketing strategy, Competitor analysis, product pricing strategies. Formulating Product-Market Strategies • Market-Penetration Strategy • Market-Development Strategy • Product-Development Strategy • Diversification • Strategy Selection • The Marketing Mix • 2. Budgeting Marketing, Financial, and Production • Resources • 3. Developing Reformulation and Recovery Strategies • 4. Drafting a Marketing Plan • 5. Marketing Ethics and Social Responsibility

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    66 views15 pages

    Foundations of Strategic Marketing Management: Vidhya Srinivas

    Uploaded by

    Vidhya Srinivas
    explains about marketing strategy, Competitor analysis, product pricing strategies. Formulating Product-Market Strategies • Market-Penetration Strategy • Market-Development Strategy • Product-Development Strategy • Diversification • Strategy Selection • The Marketing Mix • 2. Budgeting Marketing, Financial, and Production • Resources • 3. Developing Reformulation and Recovery Strategies • 4. Drafting a Marketing Plan • 5. Marketing Ethics and Social Responsibility

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 15

    Foundations of Strategic Marketing Management

    Vidhya Srinivas

    In this chapter, you will learn about


    1. Defining the Organizations Business, Mission, and Goals Business Definition Business Mission Business Goals 2. Identifying and Framing Organizational Growth Opportunities Converting Environmental Opportunities into Organizational Opportunities SWOT Analysis

    In this chapter, you will learn about


    1. Formulating Product-Market Strategies Market-Penetration Strategy Market-Development Strategy Product-Development Strategy Diversification Strategy Selection The Marketing Mix 2. Budgeting Marketing, Financial, and Production Resources 3. Developing Reformulation and Recovery Strategies 4. Drafting a Marketing Plan 5. Marketing Ethics and Social Responsibility

    The Primary Purpose of Marketing


    To create long-term and mutually beneficial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts.

    Expanding Responsibilities of Marketing Managers


    They no longer function solely to direct day-today operations. They must make strategic decisions as well. Expanded responsibilities include: Charting the direction of the organization Contributing to decisions that will create and sustain a competitive advantage and affect long-term organizational performance

    Evolution of the Marketing Manager


    From being only an implementer. to being a maker of organization strategy This has prompted the emergence of strategic marketing management as a course of study and practice.

    Processes in Strategic Marketing Management


    1. Defining the organizations business,mission, and goals Identifying and framing organizational growth opportunities Formulating product-market strategies Budgeting marketing, financial, and production resources Developing reformulation and recovery strategies

    Defining the Organizations Business, Mission, and Goals

    Business Definition
    By defining a business from a customer or market perspectivean organization is appropriately viewed as: a customer - satisfying endeavor not a product-producing or service delivery enterprise.

    What business are we in?


    An organization should define a business by: The type of customers it wishes to serve The particular needs of those customer groups it wishes to satisfy The means or technology by which the organization will satisfy the customer needs

    Business Mission
    Underscores the scope of an organizations operations apparent in its business definition Reflects managements vision of what the organization seeks to do. Most statements describe: the organizations purpose customers, products/services, markets, philosophy, and technology

    Benefits of Mission Statements


    Crystallizes managements vision of the organizations long-term direction and character Provides guidance in identifying, pursuing, and evaluating market and product opportunities Inspires and challenges employees to do those things that are valued by the organization and its customers Provides direction for setting business goals or objectives

    Business Goals
    Goals or objectives convert the organizations mission into tangible actions and results that are to be achieved, often within a specified time frame Three major categories of goals: 1. Production 2. Financial 3. Marketing

    GOALS
    Production Goals Apply to the use of manufacturing and service capacity and to product and service quality Financial Goals Focus on return on investment, return on sales, profit, cash flow, and shareholder wealth. Marketing Goals market share marketing productivity sales volume profit customer satisfaction customer value creation

    Thank You !!!

    You might also like