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marketing management process
- 1. planning marketing activities
- 2. directing the implementation of the plans
- 3. controlling these plans
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strategic planning
- the job of planning strategies to guide a whole company.
- the managerial process of developing and maintaining a match between an organization;s resources and its market opportunities.
- same as marketing strategy planning
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marketing strategy planning
finding attractive opportunities and developing profitable marketing strategies.
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*Marketing strategy
Target market + marketing mix (4 P's)
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Target market
a similar group of customers to whom a company wishes to appeal.
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*Marketing mix
- the controllable variables the company puts together to satisfy this target group.
- Product-goods or services to market
- Pricing- setting profitable and justifiable prices
- Place/Distribution- right product to the right place at the right quantity and time.
- Promotion- developing an integrated marketing communication.
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*Marketing plan
- a written statement of a marketing strategy and the time related details for carrying out the strategy.
- should spell out:
- -marketing mix
- -company resources
- -what results are expected
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S.W.O.T. Analysis
evaluating your company's strengths, weaknesses, opportunities, and threats.
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personal selling
- face to face, via telephone or internet videoconference.
- sometimes attention is needed after the sale.
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customer service
a communication between the seller and the customer who wants the seller to resolve a problem with a purchase.
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mass selling
- communicating with a large number of customers at the same time.
- main form is advertising.
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sales promotion
- promotion activities - other than publicity, advertisement and personal selling- that stimulate interest, trial or purchase by a customer.
- coupons, samples, signs, contests, events catalogs...
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operational decisions
short-run decisions to help implement strategies
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