Marketing 2

  1. Strategic Planning
    The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.
  2. Marketing Plan
    a written document that acts as a guidebook of marketing activities for the marketing manager
  3. Mission Statement
    • asks what is our business? who is the customer? what do customers value? what should our business be?
    • -should be: neither too narrow or too broad, fitting the market environment, based on distinctive competencies, motivating.
  4. Marketing objectives (4)
    • -realistic, measurable, time specific, consistent with and indicate the organizations priorities.
    • -is a goal and should be challenging
  5. SWOT Analysis
    • Internal- Strength, weaknesses
    • External-opportunities, threats
  6. Market Penetration
    increase market share among existing customers
  7. Market Development
    attract new customers to existing products
  8. Product Development
    create new products for present markets
  9. Diversification
    introduce new products into new markets
  10. *Strategic Alternatives*
    • present product new product
    • pr. mkt mkt penetration product develpmnt
    • new mkt mkt development diversification
  11. Target Market Strategy
    • -segment market based on groups with similar characteristics
    • -analyze market based on attractiveness of market segments
    • -select one or more target markets
  12. Marketing mix (4 p's)
    -includes controllable and tactical marketing tools: product, place, promotion, price
  13. Following up Marketing Plan (3)
    • 1) implementation
    • 2) evaluation
    • 3) control
Card Set
Marketing 2