Chapter 22: Putting it all together: The Strategic Marketing Process
- Texas State University-San Marcos
- Marketing 3343
- Chapter 22: Putting it all together: The Strategic Marketing Process
Last Modified: 2011-07-10
-the measuring sticks used to determine whether the efforts are successful
-the key is to determine which kinds to use to determine success or failure.
-cover marketing activities from 2-5 years into the future.
-with the exception of firms in industries such as auto, steel, or forest products, marketing plans rarely go beyond 5 years into the future.
-usually developed by a marketing or product manager in a consumer products firm such as General Mills
-deal with marketing goals & strategies for a product, product line, or entire firm for a single year.
strategy that can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage.
-cost leadership strategy
-cost focus strategy
-differentiation focus strategy
-competitive scope or the breadth of the target markets
-stress on cost versus product differentiation
-focuses reducing expenses & in turn, lowers product prices while targeting a broad array of market segments.
-Ex: Campbells soup's sophisticated product development & supply chain systems have led to huge cost savings.
products have significant points of difference in product offerings,brand image,higher quality,advanced tech,orsuperior services to charge a higher price while still targeting a broad array of target segments.
-Gen Mills stresses high nutrition
-involves controlling expenses & in turn, lowering product prices targeted at a narrow range of market segments.
-IKEA sells self assembly furniture to cost-conscious consumers
-requires products to have significant points of difference to target 1 or only few market segments
-average age of a toyota is 47, so Toyota visited with young people (needed) smaller cars & offered new smaller models for the narrow segment
-there is no magic formula to gaurentee effective implementation of marketing plans
-seems to be equal parts of good mgmt skills & practices.
-willing to cut the red tape & move the program forward. often has the uncanny ability to move back & forth between big picture strategy questions & specific details when situation calls for it.
-overcomes organizational hurdles
"the tendency to excessively analyze a problem instead of taking action.
-calls for "bias for action" mgmt experts recommend a "do it, fix it, try it" attitude.
-dont let the pursuit of perfection stand in the way of the very good..do something!
-have authority & responsibilty to issue orders to people who report to them
-directly involved in the daytoday operations of the organization, such as producing & selling a product or service.
-occupied by line personnel & line managers
have authority & responsibility to advise people in line positions but cannot issue direct orders to them.
-serve the organization by indirectly supporting line functions.
-consist of staff personell & staff managers.
-Ex: HR, custodial...
provide support, adivice, & knowledge to other individuals in the chain of command.
-although not apart of the chain of command related to direct production of products/services, they do have authority over personnel.
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