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OVERVIEW
Strategic marketing management is concerned with how we will create value for the customer
Asks two main questions
What is the organizations main
process.
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Strategic Marketing
Tactical Marketing
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The firms task is to examine its costs and performance in each value-creating activity and to look for ways to improve performance.
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3M - substrates, coatings, and adhesives Black & Decker - small electric motors Canon - laser printer subsystems Matsushita - VCR subsystems, compressors NEC - semiconductors Honda - gasoline powered engines
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Strategic Planning is the managerial process of creating and maintaining a fit between the organizations objectives and resources and the evolving market opportunities.
Also All
Can
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Tactical
Product features Promotion Merchandising Pricing Sales channels Service
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Corporate Headquarters Planning Activities Define the corporate mission Establish strategic business units (SBUs) Assign resources to each SBU Assess growth opportunities
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eBay
We help people trade anything on earth. We will continue to enhance the online trading experiences of allcollectors, dealers, small businesses, unique item seekers, bargain hunters, opportunity sellers, and browsers.
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Microsoft
To help people and businesses throughout the world realize their full potential. This drives our business and guides our Corporate Citizenship work.
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Product Orientation vs. Market Orientation Company
Missouri-Pacific Railroad Xerox Standard Oil Columbia Pictures
Product
We run a railroad We make copying equipment We sell gasoline We make movies
Market
We are a peopleand-goods mover We improve office productivity We supply energy We entertain people
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Characteristics of SBUs
It is a single business or collection of related businesses It has its own set of competitors It has a leader responsible for strategic planning and profitability
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MARKET SHARE
Market share is the percentage of the total market that is being serviced by your company, measured either in revenue terms or unit volume terms.
The higher your market share, the higher proportion of the market you control.
iPod
baby food items i.e. nestle cerelace and other baby food products
DVD players
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Existing
PRODUCTS
New
Existing
PRODUCT DEVELOPMENT
INCREASING RISK
DIVERSIFICATION
New
MARKET PENETRATION
This is the objective of higher market share in existing markets
E.g. in 2000, Mitsubishi announced a 10% reduction in prices in the UK in order to encourage purchases
MARKET EXTENSION
This is the strategy of selling an existing product to new markets. This could involve selling to an overseas market, or a new market segment
Nintendo are making hand held games consoles (e.g. DS) appeal to the adult/grey market by introducing games such as Brain Train
PRODUCT DEVELOPMENT
This involves introducing new product in existing markets
This often happens with the auto markets where existing models are updated or replaced and then marketed to existing customers
DIVERSIFICATION
Starbucks entered into grocery store aisles with Frappuccino bottled drinks, ice cream, and tea.
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Integrative Growth A businesss sales and profits can be increased through Backward integration (acquiring a supplier) Forward integration (acquiring a distributor) Horizontal integration (acquiring a competitor).
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Diversification Growth
This makes sense when good opportunities exist outside the present businesses. Three types of diversification are possible The company could seek new products that have technological or marketing synergies with existing product lines, even though the new products themselves may appeal to a different group of customers (concentric diversification strategy). Second, the company might search for new products that appeal to its current customers but are technologically unrelated to the current product line (horizontal diversification strategy). Finally, the company might seek new businesses that have no relationship to the companys current technology, products, or markets (conglomerate diversification strategy).
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SWOT Analysis
Strengths Weaknesses Opportunities Threats
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Differentiation
Focus
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Marketing Debate
What good is a mission statement?
Take a position: 1. Mission statements are critical to a successful marketing organization. or 2. Mission statements rarely provide useful marketing value.
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