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8/10/2019 Chap001 Market Planning
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8/10/2019 Chap001 Market Planning
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1-2
What is a strategy?
A strategyis a fundamental pattern
of present and planned objectives,
resource deployments, and
interactions of an organization withmarkets, competitors, and other
environmental factors
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Scope
Goals and objectives
Resource deployments
Identification of sustainable
competitive advantage
Synergy
Components of Strategy
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1-4
The Hierarchy of Strategies
Three major levels of strategy are:
Corporate strategy
Business-level strategy
Marketing strategy
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Market-Oriented Management
Follows a business philosophy
commonly called marketing concept
Consistent focus by personnel in all
departments and at all levels
Adopts a variety of organizational
procedures and structures:
To improve the responsiveness ofdecision making
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Exhibit 1.5
Guidelines for Market-Oriented
Management
Create customer focus throughout the
business
Listen to the customer
Define and nurture your distinctive
competence
Define marketing as market intelligence
Target customers preciselyManage for profitability, not sales volume
Make customer value the guiding star
Let the customer define quality
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Exhibit 1.5
Guidelines for Market-Oriented
Management (continued)
Measure and manage customerexpectations
Build customer relationships and loyalty
Define the business as a service businessCommit to continuous improvement andinnovation
Manage culture along with strategy and
structureGrow with partners and alliances
Destroy marketing bureaucracy
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Exhibit 1.7
Differences between Production-Oriented
and Market-Oriented Organizations
Business Activityor Function
ProductionOrientation
MarketingOrientation
Product offeringCompany sells what
it can make
Company makes
what it can sell
Product line Narrow Broad
Pricing
Based on
production and
distribution costs
Based on
perceived benefits
provided
Research
Focus on productimprovement and
cost cutting in
the production
process
Focus on
identifying newopportunities and
applying new
technology to
satisfy
customer needs
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Exhibit 1.7
Differences between Production-Oriented
and Market-Oriented Organizations
(continued)BusinessActivity or
Function
Production
Orientation
Marketing
Orientation
Packaging Protection for the
product;minimize costs
Designed for
customerconvenience; a
promotional tool
Credit A necessary evil;
minimize bad debt
losses
A customer service;
a tool to attract
customers
Promotion Emphasis on
product features,
quality, and price
Emphasis on
product benefits and
ability to satisfy
customers needs or
solve problems
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Exhibit 1.8
Categories of E-Commerce
Source: Adapted from A Survey of E-Commerce: Shopping Around the Web, The Economist, February 26, 2000, p. 11.
Business Consumer
Business-to-Business(B2B)
Business-to-Consumer (B2C)
Business Examples:
Purchasing sites of
Ford, Oracle, Cisco
Supply chain networks
linking producersanddistribution channel
members, such as 3M
and Wal-Mart
Examples:
E-tailers, such as E*Trade,
Amazon, iTunes
Producers direct sales sites, such
as Dell, Ryanair, Safital Hotels Web sites of traditional retailers,
such as
Sears, Lands End, Marks &
Spencer
Consumer-to-Business
(C2B)
Consumer-to-Consumer (C2C)
Consumer Examples:
Sites that enable
consumers to bid on
unsoldairline tickets and
other goods and services,
such as Priceline
Examples:
Auction sites, such as eBay, QXL
Blogs praising /criticizing
companies or
brands
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Formulating and Implementing
Marketing Strategy Process
Decision-Making Focus
Analysis of the four Cs
Integrating firm's marketing strategy
with other strategies and resources
Market opportunity analysis
Understanding Market Opportunities
Measuring Market OpportunitiesMarket Segmentation, Targeting, and
Positioning Decisions
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Formulating and Implementing
Marketing Strategy Process
(Continued)Formulating strategies for specific
market situations
Implementation and control
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The Marketing PlanA Blueprint
for Action
A marketing planis a written
document detailing the current situation
with respect to customers, competitors,
and the external environment
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