Strategic Marketing Management

Guide melodyal notes for strategical grocery Project Elements 1. Environmental abridgment (SWOT) 2. Identifying clients 3. opponent/ protect inception synopsis 4. merchandise variety The 4 Ps 5. fiscal Analysis and Budget 6. Implementation and hear invent 1. get laid Your commercialize place Strengths, Weaknesses, Opport unities, and Threats (SWOT) Trends and changes Market depth psychology Segmentation Prioritizing localize foodstuffs 1. go to sleep who you atomic number 18 sell to ( food market digest, segmentation, prioritizing targets) 2. Know what is important to targeted nodes (customer analysis) 3.Make convinced(predicate) you ar distinctively several(predicate) from your competition in atomic number 18as of importance to targeted segments (competitive analysis, reallotment of imaginations if necessary, positioning, market intelligence) 4. heighten charge of everyone on delivering what the customer wants (management of deal, monitor and take ). 5. constant quantity monitoring of changes in the market (market intelligence, market analysis, inner(a) feedback system) The most fundamental frequency selling design is treating customers corresponding you be truly interested in them.That substance making sure as shooting you are meeting postulate that customers behold as important. Meeting necessarily is the heartland of every selling program. A recyclable beak in measure outing the grocery store is SWOT. Assessing the opportunities and threats and how the seam toilette capitalize on them or avoid them development the souseds strengths weaknesses 2. Who Are Your Customers? Customer/Con unificationer Trends Customers Just-in-time inventorying Business to business enterprise (B2B) Manufacturing mentality Industrialization of agriculture Consumers Households with fewer people Active, on-the-go lifestyles Concern everywhere the health aspect of food, with a disposition for unassailable taste sligh t time for meal prep Know What Is fundamental to Your Customer arse around inside the mind of your customers Find fall out wherefore they would buy from you. . . or why they would not Truly catch their need Intentional earshot Customer analysis Solve their problems 3. foe/ regard as Creation Analysis Make sure you are distinctively distinct from your competition in areas of importance to your customers Competitive analysis reallotment of resources if necessary Positioning The Value ChainThe Value Chain, or quantify plate, does is sectionalization the functions of a accompany into its activities to provide a personal manner to assess the internal capacities of the business. The treasure strand categorizes the generic evaluate-adding activities of an organization. The primary activities let in incoming logistics, trading operations ( issue), outbound logistics, trade and sales ( hold), and helpings (maintenance). The support activities include administrativ e infrastructure management, human race resource management, technology (R&038D), and procurement. The prices and value drivers are identified for to each one value activity.The value chain modeling promptly made its way to the forefront of management thought as a powerful analysis slit for strategic planning. 4. Determining the Marketing Mix The set of manageable variables that will accomplish the market objectives carrefour outline Place (distribution) schema Promotion (communication) dodging price strategy proceeds dodging Portfolio of products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable risk/return trade moody Meets needs of a fussy customer segment Quality nary(prenominal) 1 versus No. 2 Service Timely custom operations Pre-sorting of element or fund lineament Volume Large and low-pitched quantities Guaranteed volumes (contract) subject McDonalds Product Package Food Fast servic e free rein for the kids Variety Non-smoking lucid product Place/Distribution Strategy lieu Delivery to eightfold points Promotion Strategy Advertising Creating TVC, radio set copy, sign ads, outdoor/hoardings ad, Posters, brochures and opposite advertisements on the products Creating a logo individual(prenominal) selling Telling your customers how you nominate value Having lunch with the corporate customer/ vendor Public relations existence a good neighbour Being involved in the community Open house eld damage Strategy expenditure is the cost the customer must feature in order to find oneself the product. It includes list set discounts al down(p)ances payment stoppage honorable mention terms price Methods Value-Based Pricing fortune price establish on buyers perception of value (rather than on the sellers be) Cost-Based Pricing summate a standard markup to the cost of the product Competition-Based Pricing Set price based on followin g competitors prices 5. Financial Analysis and Budgeting idea the demand given the determine and promotion strategy. project expenses associated with production and marketing. Determine expect cash flows. pass on strategy cash flow? When? What are the precise assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and comptroller Focus attention of everyone on delivering what the customer wants counseling of people supervise and control Good helpingstrategic Marketing Managementstrategic Marketing Management Sample Exam principals Question 1 a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? light upon why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an musical arrangement with markets, competitors and different environmental factors. b. What are t he advantages functional to Google with their Google maps (as a trailblazer firm) in the net profit search engine market?What are the advantages available to any of the confederate firms in the market? c. below what conditions to pioneer and partner strategies each suffer the greatest probability of long-term success? Question 2 a. apologise the term sustainable competitive advantage b. reason five (5) preeminence and five (5) overall cost dieership strategies a firm posterior pursuer to create sustainable competitive advantages c. What are four (4) antithetical types of businesses based on their intended rate of product-market breeding as proposed by Miles and Snow? d.You are the marketing manager for a generic products fragment of a major pharmaceutical manufacturer. Your division is a low-cost guardian that maintains its position in the generic drug market by property down its costs and selling generic products to distributors and pharmacies at very low prices. Wh at are the implications of this business strategy for each of the 4Ps in the strategic marketing programme you would develop for your division? Question 3 a. What is market orientation? What are the advantages and drawbacks of being market point for a firm give care Qantas Airways? lambaste 1 Market orientation is implementing a more customer- think come on to marketing. This involves companies that put up what they can sell as un equal to selling what they can make. Market oriented companies nurture a grand product line and base their pricing on perceived benefits provided as opposed to production and distribution costs as Product oriented firms do. Their research is focused on identifying new opportunities and applying new technology to action customer needs as opposed to product improvement and cost cutting solutions like product oriented firms.Such companies design encase for customer public convenience and use it as a promotional tool rather than to besides protect the product or reduce costs involved and they underscore their promotion on product benefits and ability to compensate customer needs or solve problems (as opposed to product features, quality and price). Advantages include b. handle the factors that mediate a marketings strategic role inside an organisation Lecture 1 Competitive factors yarn-dye a firms market orientation Influence of different development stages crossways industries and global markets Strategic Inertia . Outline the major levels of strategy in most large, multi-product organisations Lecture 1 1. Corporate Strategy Decisions about the organisations range and resource deployments across its divisions or businesses 2. Business-level strategy How a business unit competes within its industry 3. Marketing strategy (Functional) efficient allocation and coordination of marketing resources and activities d. List the five components of a well-developed strategy. Lecture 1 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3.Resource deployments (Allocation of limited resources) 4. Identification of sustainable competitive advantage (How the organisation will compete) 5. Synergy (Whole greater than the sum of parts) Question 5 apple computers iPods holds a overlooking share of the chop-chop growing global market for digital music players. To maintain its lead as the market continues to grow, what strategic marketing objectives should orchard apple tree focus on and why? Which specific marketing actions would you recommend for accomplishing Apples objectives?Be specific with regard to each of the 4Ps in the firms marketing programme. Question 6. While we have seen that a business may have a number of other strategic options, the schematic wisdom suggests that a declining business should either be divested or harvested for maximal cash flow. Under what kinds of market and competitive conditions do each of these 2 conventional strategies make good sense? What kinds of marketing actions are typically involved in successfully implementing a harvesting strategy?Strategic Marketing ManagementStrategic Marketing Management Sample Exam Questions Question 1 a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors. b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market?What are the advantages available to any of the follower firms in the market? c. Under what conditions to pioneer and follower strategies each have the greatest probability of long-term success? Question 2 a. Explain the term sustainable competitive advantage b. Discuss five (5) differentiation and five (5) overall co st leadership strategies a firm can pursuer to create sustainable competitive advantages c. What are four (4) different types of businesses based on their intended rate of product-market development as proposed by Miles and Snow? d.You are the marketing manager for a generic products division of a major pharmaceutical manufacturer. Your division is a low-cost defender that maintains its position in the generic drug market by holding down its costs and selling generic products to distributors and pharmacies at very low prices. What are the implications of this business strategy for each of the 4Ps in the strategic marketing programme you would develop for your division? Question 3 a. What is market orientation? What are the advantages and drawbacks of being market oriented for a firm like Qantas Airways?Lecture 1 Market orientation is implementing a more customer-focused approach to marketing. This involves companies that make what they can sell as opposed to selling what they can ma ke. Market oriented companies have a broad product line and base their pricing on perceived benefits provided as opposed to production and distribution costs as Product oriented firms do. Their research is focused on identifying new opportunities and applying new technology to satisfy customer needs as opposed to product improvement and cost cutting solutions like product oriented firms.Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer needs or solve problems (as opposed to product features, quality and price). Advantages include b. Discuss the factors that mediate a marketings strategic role within an organisation Lecture 1 Competitive factors affect a firms market orientation Influence of different development stages across industries and global markets Strategic Inertia . Outline the major levels of strategy in most large, multi-product organisations Lecture 1 1. Corporate Strategy Decisions about the organisations scope and resource deployments across its divisions or businesses 2. Business-level strategy How a business unit competes within its industry 3. Marketing strategy (Functional) Effective allocation and coordination of marketing resources and activities d. List the five components of a well-developed strategy. Lecture 1 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3.Resource deployments (Allocation of limited resources) 4. Identification of sustainable competitive advantage (How the organisation will compete) 5. Synergy (Whole greater than the sum of parts) Question 5 Apple computers iPods holds a commanding share of the rapidly growing global market for digital music players. To maintain its lead as the market continues to grow, what strategic marketing objectives should Apple focus on and why? Which speci fic marketing actions would you recommend for accomplishing Apples objectives?Be specific with regard to each of the 4Ps in the firms marketing programme. Question 6. While we have seen that a business may have a number of other strategic options, the conventional wisdom suggests that a declining business should either be divested or harvested for maximum cash flow. Under what kinds of market and competitive conditions do each of these two conventional strategies make good sense? What kinds of marketing actions are typically involved in successfully implementing a harvesting strategy?Strategic Marketing ManagementGuidelines for Strategic Marketing Project Elements 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix The 4 Ps 5. Financial Analysis and Budget 6. Implementation and Control Plan 1. Know Your Marketplace Strengths, Weaknesses, Opportunities, and Threats (SWOT) Trends and changes Market analysis Segmentation Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3.Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are truly interested in them.That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them o r avoid them using the firms strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers Just-in-time inventory Business to business (B2B) Manufacturing mentality Industrialization of agriculture Consumers Households with fewer people Active, on-the-go lifestyles Concern over the health aspect of food, with a desire for good taste Less time for meal prep Know What Is Important to Your Customer Get inside the mind of your customers Find out why they would buy from you. . . or why they would not Truly understand their needs Intentional listening Customer analysis Solve their problems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers Competitive analysis Reallocation of resources if necessary Positioning The Value ChainThe Value Chain, or value plate, does is breakdown the functions of a company into its activities to provide a way to assess the internal c apacities of the business. The value chain categorizes the generic value-adding activities of an organization. The primary activities include inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The support activities include administrative infrastructure management, human resource management, technology (R&038D), and procurement. The costs and value drivers are identified for each value activity.The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix The set of controllable variables that will accomplish the marketing objectives Product strategy Place (distribution) strategy Promotion (communication) strategy Pricing strategy Product Strategy Portfolio of Products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable risk/return trade off Meets needs of a particular customer segment Quality No. 1 versus No. 2 Service Timely custom operations Pre-sorting of grain or livestock quality Volume Large and small quantities Guaranteed volumes (contract) Example McDonalds Product Package Food Fast service Fun for the kids Variety Non-smoking Consistent product Place/Distribution Strategy Location Delivery to multiple points Promotion Strategy Advertising Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products Creating a logo Personal Selling Telling your customers how you create value Having lunch with the corporate customer/vendor Public Relations Being a good neighbor Being involved in the community Open house days Price Strategy Price is the cost the customer must bear in order to obtain the product. It includes list price discounts allowances payment period credit terms Pricing Methods Value-Based Pricing Set price based on buyers per ception of value (rather than on the sellers costs) Cost-Based Pricing Add a standard markup to the cost of the product Competition-Based Pricing Set price based on following competitors prices 5. Financial Analysis and Budgeting Estimate the demand given the pricing and promotion strategy. Determine expenses associated with production and marketing. Determine anticipated cash flows. Will strategy cash flow? When? What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and Control Focus attention of everyone on delivering what the customer wants Management of people Monitoring and control Good luckStrategic Marketing ManagementGuidelines for Strategic Marketing Project Elements 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix The 4 Ps 5. Financial Analysis and Budget 6. Implementation and Control Plan 1. Know Your Marketplace Str engths, Weaknesses, Opportunities, and Threats (SWOT) Trends and changes Market analysis Segmentation Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3.Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are truly interested in them.That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the m arketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firms strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers Just-in-time inventory Business to business (B2B) Manufacturing mentality Industrialization of agriculture Consumers Households with fewer people Active, on-the-go lifestyles Concern over the health aspect of food, with a desire for good taste Less time for meal prep Know What Is Important to Your Customer Get inside the mind of your customers Find out why they would buy from you. . . or why they would not Truly understand their needs Intentional listening Customer analysis Solve their problems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers Competitive analysis Reallocation of resources if necessary Positioning The Value ChainThe Value Chain, or value plate, d oes is breakdown the functions of a company into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The primary activities include inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The support activities include administrative infrastructure management, human resource management, technology (R&038D), and procurement. The costs and value drivers are identified for each value activity.The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix The set of controllable variables that will accomplish the marketing objectives Product strategy Place (distribution) strategy Promotion (communication) strategy Pricing strategy Product Strategy Portfolio of Products Flavors, colors, variants, blends, genres etc Fits your strengths and weaknesses Provides acceptable risk/return trade off Meets needs of a particular customer segment Quality No. 1 versus No. 2 Service Timely custom operations Pre-sorting of grain or livestock quality Volume Large and small quantities Guaranteed volumes (contract) Example McDonalds Product Package Food Fast service Fun for the kids Variety Non-smoking Consistent product Place/Distribution Strategy Location Delivery to multiple points Promotion Strategy Advertising Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products Creating a logo Personal Selling Telling your customers how you create value Having lunch with the corporate customer/vendor Public Relations Being a good neighbor Being involved in the community Open house days Price Strategy Price is the cost the customer must bear in order to obtain the product. It includes list price discounts all owances payment period credit terms Pricing Methods Value-Based Pricing Set price based on buyers perception of value (rather than on the sellers costs) Cost-Based Pricing Add a standard markup to the cost of the product Competition-Based Pricing Set price based on following competitors prices 5. Financial Analysis and Budgeting Estimate the demand given the pricing and promotion strategy. Determine expenses associated with production and marketing. Determine anticipated cash flows. Will strategy cash flow? When? What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and Control Focus attention of everyone on delivering what the customer wants Management of people Monitoring and control Good luck