MARKETING AN INTRODUCTION Armstrong/Kotler MARKETING AN INTRODUCTION Armstrong ... PDF
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MMAARRKKEETTIINNGG AANN IINNTTRROODDUUCCTTIIOONN 2 AArrmmssttrroonngg//KKoottlleerr Strategy Company Marketing and Partnering Build Customer Relationships to Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Chapter Outline • Companywide Strategic Planning: Defining Marketing’s Role • Designing the Business Portfolio • Planning Marketing: Partnering to Build Customer Relationships • Marketing Strategy and the Marketing Mix • Managing the Marketing Effort • Measuring and Managing Return on Marketing Investment Strategic Planning Strategic plan is the company’s plan for long run survival and growth that makes the most sense given its situation, opportunities, objectives, and resources. A fit between marketing opportunities and organizational goals and capabilities Strategic Planning • Strategic planning sets the stage for the rest of the planning in the firm. Company’s usually prepare :- – Annual Plan – Long range plan &- deals with co.’s current businesses and how to keep them going. – Strategic plan – adapting the firm to take advantage of opportunities in its constantly changing environment. Companywide Strategic Planning Steps in Strategic Planning Forming a Mission • The following questions help in developing sound company mission: – What is your business? – Who is the customer? – What do customers value? – What should our business be? Defining a Market-Oriented Mission Market oriented and Meaningful and based on satisfying specific yet customer needs motivating Mission Statement Emphasize company’s Should NOT be stated strengths in the in sales or profits market Examples of Market Oriented mission statements • Cold Stone Creamery’s mission isn’t simply to sell ice cream. Its mission is to “make people happy around the world by selling the highest quality, most creative ice cream experience with passion, excellence, and innovation.” • Charles Schwab – We are brokerage firm (product oriented – not) – We are the guardian of our customers’ financial dreams (Market oriented) Setting Company Objectives and Goals What Marketing Objectives? Build profitable Marketing business Objective? relationships Designing the Business Portfolio • The Business Portfolio is the collection of businesses and products that make up the Company • The best business portfolio is the one that best fits the company’s strengths and weaknesses to opportunities in the environment
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