Ch. 22 The Strategic Marketing Process

what works
strategy, execution, culture, structure
Sales Response FUnction
the expense of the marketing effort to the marketing results obtained.
Strategic Marketing Process Steps
SWOT, Market product focus and goal setting, marketing program, implementation, evaluation
Generic Business Strategy
can be adopted to any firm to get a competetive advantage
Cost Leadership Strategy
focuses on reducing expenses and in terun lowers product prices while you have a wide target.
Differentiation Strategy
Have significant points of differences in product offerings, brand image, higher quality,
Cost Focus Strategy
Controlling expsenses and in turn lowering product prices targeted at a narrow range of market segments
Differentiaion focus strategy
requires product to have significant points of difference in order to target one or only a few market segments.
Synergy analysis
seeks market product opportunities by finding the optimum balance between marketing efficiencies versus R&D efficiencies.
R&D Manufacturing
Market-product concentration, market specialization, product specialization, selective specialization, full voerage
Value based planned
Combines marketing planning and financial planning to see how much an SBU will contribute to the price of a company’s stock
Value drive strategies
Incorporate concerns for ethics, integrity, environment, etc
Disruptive Innovations
create a new market by initially reaching new customers through displacing an existing market’s low – end product.
time based agenda
a metting agenda that shows the running tiem allocated to each agenda item
Action item list
an aid to implement plans. Columns: task, person, data to be finished, and what should be delivered.
Line Positions
Managers to have authority to issue orders
Staff Positions
Can’t order line positions, but can advise them.
Different types of groupings
Product Line Groupings: Responsible for a specific product
Functional Groupings: manufacturing, marketing, finance etc.
Geographical Groupings: sales territories
Market Based Groupings: Divide up different customer segments.
Management by Exception
identify results and actions needed whether they exceed goals or fall short.
Marketing ROI
seeing how effective your marketing spending is.
Marketing Metrics: data on marketing efforts
Marketing Dashboard: visual device that displays metrics in an easy to understand why.