Marketing Lecture #2: Marketing and Customer Value: Marketing Strategy

Business Portfolio
Collection of business and products that comprise an organization
SBU
Strategic Business Units
BCG Grow-Share Matrix, Top left
Star
BCG Grow-Share Matrix, Top right
Question Mark
BCG Grow-Share Matrix, Bottom left
Cash Cow
BCG Grow-Share Matrix, Bottom right
Dog
S
Segmentation
T
Targeting
P
Positioning
D
Differentiation
Four P’s, Product
Variety,Quality, Design, Features, Brand Name, Packaging, Services
Four P’s, Price
List Price, Discounts, Allowances, Payment Period, Credit Terms
Four P’s, Promotion
Advertising, Personal selling, Sales promotion, Public relations
Four P’s, Place
Channels, Coverage, Locations, Inventory, Transportation, Logistics
Executive Summary (Marketing Plan)
Brief summary of the main goals and recommendations of the plan
Situation Analysis (Marketing Plan)
Uses the Five Cs to give the market description and the product, competition, and distribution review
SWOT Analysis (Marketing Plan)
Helps management to anticipate important positive or negative developments
Objectives and Issues (Marketing Plan)
States and discusses marketing objectives and key issues.
Budgets (Marketing Plan)
Details a supporting marketing budget that is a projected profit-and-loss statement
Controls (Marketing Plan)
Outlines the controls that will be used to monitor progress, allow management to review implementation results, and spot products that are not meeting their goals
Non-marketing entities (actors and forces) that affect marketing activities
Microenvironment and Microenvironment
Vision
Forward looking long term statement
Mission
Raison détre
Objectives/Goals
Numerical/measurable targets
Marketing Strategy (Marketing Plan)
Outlines the broad marketing logic and the specifics of STPD
Tactics/Action Programs (Marketing Plan)
Spells out how marketing strategies will be turned into specific action programs
Five C’s of Situation Analysis
Context, Company, Customers, Competitors, Collaborators