Ch 2
- 1. Strategic Planning in Contemporary MarketingChapter 2Intro to Marketing
- 2. StrategicDetermining the primary objectives then adopting courses of actionLong term plansTop management involvedTacticalSpecific activitiesShorter term – quarterly or semi annuallyMiddle managementOperationalDaily and weekly plansSupervisorsStrategic vs. Tactical Planning
- 3. Implementing planning activities devoted to achieving marketing objectivesEstablishes the basis for any marketing strategyMarketing Planning
- 4. Begins at the corporate level with the Mission StatementMission is the reason for being in businessDetermine Organizational ObjectivesExample: 12% increase in sales by 2014Assessing Organizational Resources & Evaluate Risks and OpportunitiesSWOT AnalysisStrategic WindowSteps in the Marketing Process
- 5. The idea that the first company to offer a product in a marketplace will be the long-term market winner.Second Mover StrategyThey observe first movers, and improve on them1st Mover Strategy
- 6. Target MarketThe group of people toward whom the firm decides to direct its marketing efforts, goods, and servicesHow does a company satisfy their target market?Elements of a Marketing Strategy
- 7. Marketing Mix VariablesProduct StrategyThe good, service or ideaThe package design, brand name, warrantiesFirst mover StrategyDistribution StrategyModes of transportation, selection of marketing channelTechnology has opened new channels of distribution
- 8. Marketing Mix VariablesPromotional StrategyMessages through salespeople, ads, or other promotionsMust match the target marketPricing StrategySetting profitable and justifiable pricesSubject to public scrutiny
Editor's Notes
- #2: Strategies used by Target on pages 32-33 (14th ed.)
- #6: 1st Mover – apple I-tunes2nd Mover – Target watches Wal-Mart
- #9: Critical Thinking ExerciseDiscuss and then record ‘Strategic’ vs. ‘Tactical’ Plans Define and record the ‘Target Market’ for SCCCDiscuss and record three strategic and then three tactical plans for SCCC