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MindMap Gallery Chapter 5 Marketing
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Chapter 5 Marketing
This is a mind map that contains marketing information.
Edited at 2020-10-12 03:22:13
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Chapter 5 Marketing
Introduction
How organizations organize themselves to makesales, achieve profits, and keep stakeholdershappy?
Strategic Context (necessary tounderstand before developing marketingstrategy)
Resorces and Capabilities
Target Customers
Competitors
The external environment
Elements defined on a framework ofintended performance
Vision
Oragnization's future
Mission
What the organization wishes toachieve long term
Should be realistic and market oriented
Values
How people should behave within theorganization to help shape how the goals will beachieved
Organizational Goals
represent what should be achievedat strategic levels
Articulated in terms of profit, market share, sharevalue, return on investment, or number of cusomersserved
Organization/Corporate Strategy
means by which organizational resources are matchedwith the needs of the organization's operationsenvironment
Strategic Business Units
Exist when organizations operate in differentmarkets and the planing process iscomplicated
Strategic Markting Planningaccording to Mc Donalds
A series of logical steps to beworked through to arrive at amarketing plan
Phases of those steps
Setting the right mission and corporate goals
Reviewing the context on which theorganization is operating
Formulate an strategy
Allocation of resources necessary toimplemnet and monitor the plan
Strategic Marketing Planning steps
Organizations set out its vision,mission and values
Measurable corporate goals are stablished
Analysis of the strategic context andresources available
Determination of strategies andprobable outcomes
Set SBUs if the organization is big
Each business and/or offering developsfunctional and competitive strategies andplans
The plan is implemented and theresults are measured
Marketing Planning
Definition
Sequential processinvolving a series of activitiesleadingto the setting of marketing objectivesand theformulation of plans for achieving them
Should include
Executive summary
Overall Objectives
product/market background
Marketing analysis
Marketing strategies
marketing goals
Marketing programmes
Implementations
Supporting documentation
Implementation
Characteristics of companiesmaarketing implementationcapabilities
Timespecifific
Culturespecific
Partial
Latent
Internally Consitent
Strategy Specific
Person Specific
Elements that impact theimplementation
The structre and type of marketing function and thedegree to which marketing orientation prevails acrossthe organization
The amount of available finatialrsources and how they are distributes
Marketing Metrics
the costs used to measure theeffectiveness of the impemetntationprocess
Structures and Typs of MarketingOrganziations
Types of Marketing Organization
Finance and Budgeting
Marketing Metrics
Profit/Profitability
Sales
Gross Margin
percent of profit
Awareness
of the existence of the brand
Market Shares
salesd revenueX100/total inductrysales revenue
Number of New Products
Relative Price
your price/ market leaders price
Number of consumer complaints orrelative dissatisfaction
consumer Satisfaction
Distribution/availability
Customer advocacy
nurturing loyal customers
Strategic Marketing PlanningActivities
Necessary activities when consideringthe development of marketingstrategy
Strategic Marketing Goals
Necessary to
Determine what the marketingstrategy should achieve
Main types of strategic objectives
Niche
suitable whenfirms operate in a market dominatedby a major competitor and finantial resources arelimited
small segment or small part of a segment thatis not economic for leading competitors totarget
requires highly differentiatedproducts and high level of service tosucceed
Hold
Designed to prevent andcounterattack agressive competitors
likely to be adopted by market leaders
Harvest
likely to be adpoted by mature markets
Goal: maximize short term profit
Divest
Necessary when offerings continue toincur losses and generate negative cashflow
by selling it of withdrwaing it fromthe market
Namely Growth
considered to be a primary objectiveby most organizations
Types
Intensive
Intensifying activities
Integrative
an organization continues to do the same AND performsother activities in the value chain that were undertakenby others
Diversification
developments outside the currentchain of values
Ansoffs Product Market Matirx
Present porducts
Present Markets
Market Penetration
New Markets
Market Development
New Products
Present Markets
Product Development
New Market
Diversification
Strategic Marketing Action
Necessary to
Determine how the strategies should be developedas plans and how this plans should beimplemented
Competitive Advantage
Definition
Prolonged benefit of implementing some unique valuecreating strategynot simultaneously being implemented by any current or potentialcompetitors along with the inability to duplicate the benefts of thisstrategy
Ssuteinable Competitive Advantage (SCA)
When an organization has a significant andsustainable edge over its competitors when attractingbuyers
Conditions necessary to achieve it
A positive difference betweem the offerings of acompany and those of its competitors isperceived
Those perceived differences resultfrom the company's greatercapability
The perceived difference persists fora reasnable period of time
Generic Strategies
Cost Leadership
Not equal to lower price
Lowest cost structure,
Differentiation
requires that all value chain activities arevgeared to thecreation of offerings thatare valued by and staisfy theneeds of, a partivular broad segments
Focus Strategies
Help to seek unfulfilled market needs
stratgies (have to occur in a particularnarrow segment)
Cost leadership
Differentiaion
Competitive Positioning
the position that a porduct adpots in themarket is a general reflection of its marketshare
Poisitions
Market Leader
has the single largest share of the market
Market Challenger
Products that aspire to the leadershipposition
Market Followers
Low market shares and are notserious competitors
Market Nichers
Strategic Intent
How firms engage strategically withtheir chosen markets?
Perspectives on the subject
Strategic Competition and Warfare
Apporaches
Attack
Used to achieve groth objectives
Types
Frontal Attack
Flanking
Encirclement
Bypass
Guerrilla
Deffence
should be in place at all times
Types
Position
Mobile
Flanking
Counteroffensive
Contraction
Preemptive
The overall size market is static. Individual companies cangrow by taking a market share from its compeititors andthe defending it
Strategic Cooperatio and Relationship
How customer value can beincreased through cooperation
Managing andcontroling marketing Programs
The marketing strategy
effectiveness and efficiency
Effectiveness
measured by
Market growth
Revenue Groth
Market Positio
Efficiency
Measured by
sales
marketing expenses
companies that succeed in onedimension succeed less on the other
dream: be effecient and effective