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Chapter 1Overview o!ar"eting
#trateg$ and
the#trategic!ar"eting
Process
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%earning Ob&ectives
1. 'nderstand the (eaning o !ar"eting#trateg$.
2. )now !ar"eting concept.
*. E+plain eneric -ra(ewor"s o !ar"eting#trategies.
. 'nderstand Product/!ar"et rowth#trategies.
. E+plain #trategic !ar"eting Process.
2
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hat is a !ar"eting #trateg$
3 (ar"eting strateg$ can reer to a process orto its outco(e
3 co(prehensive (ar"eting strateg$ speci4es
the who, what, when, where, wh$, and how othe business
3 sound strateg$ (ust reduce to (eetingso(e speci4c needs o so(e
speci4c
custo(ers better than the co(petition withinpro4table
relationships
*
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hat is a !ar"eting #trateg$
5arget#eg(ents
Co(petitive
3dvantag
es
#ingularit$
5hree high/level decisions
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5able 1/1 / hat Is a 6!ar"eting#trateg$7
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Singularity
5he 4r(8s o9ering (ust bedi9erent ro( the co(petition8s
in so(e wa$ that so(e seg(ento custo(ers will value.
5he strateg$ (ust be uni:ue or
singular and not in aninconse:uential wa$.
;
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5he !ar"eting Concept and aCusto(er -ocus
Essence o the 6(ar"eting concept7
#trategic (ar"eting is the creation and(aintenance o a (ar"et
oriented strateg$
-ocusing the organi
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-igure 1/1 / eneric #trategies>Co(petitive 3dvantage and
Co(petitive #cope
?
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-igure 1/* / Product/!ar"et rowth#trategies
@
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-igure 1/ / 5he #trategic !ar"eting3nal$sis and Planning
Process
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5rue or -alse
1. 3 co(prehensive (ar"etingstrateg$ speci4es the s and 1H othe
business, where the 6H7 reers
to the geographic (ar"ets the 4r(will serve. AhereB
11
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5rue or -alse
2. uestions about how the 4r( servestheir target seg(ents and
theirneeds better than the co(petition,
and wh$ the 4r( does that isrelated to 65arget
#eg(ents7Aco(petitive advantageB
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5rue or -alse
*.5here are * (ain basis oco(petition which are
Product%eadership, Cost %eadership and
Product Di9erentiation.
1*
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5rue or -alse
. !ar"et Penetration reers to selling(ore o the 4r(8s e+isting
productsto new (ar"ets.
1
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5rue or -alse
. Product develop(ent reers toselling new products to
new(ar"ets.
1
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5rue or -alse
;.5he strategic (ar"eting processconsists o * (ain stages which
are#ituation 3ssess(ent, #trateg$
-or(ulation and I(ple(entation.
1;
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5rue or -alse
=. In the #ituation assess(ent stage,the co(pan$ under goes
threeactivities which are #eg(entation,
5argeting and Positioning.
1=
