Implementing Marketing Mix Strategies
by Abbey Ntswana
1. Setting marketing-strategy objectives
1.1. Objectives should be realistic, measurable and time-specific.
1.2. Objectives must be consistent and indicate the priorities of the firm.
2. Defining Business Mission
3. Marketing objectives
4. Situation Analysis or SWOT Analysis
4.1. Resources
4.1.1. production cost
4.1.2. marketing skills
4.1.3. financial resources
4.1.4. firm's or brand image
4.1.5. employee capabilities
4.1.6. available technology
4.2. historical background of the firm
5. Competitive advantage
6. Marketing Strategy
6.1. Target Market Strategy
6.2. Positioning Strategy
6.3. Marketing Mix
6.3.1. Product
6.3.2. Distribution
6.3.3. Promotion
6.3.4. Price
7. Asssessing Corporate Culture
7.1. Firms response to external environment
7.1.1. Prospector
7.1.2. Reactor
7.1.3. Defender
7.1.4. Analyser
8. Opportunity-utilisation strategies
8.1. Ansoff Matrix
8.1.1. Market Development
8.1.2. Market penetration
8.1.3. Product development
8.1.4. Diversification
9. Strategic Management Tools
9.1. The Boston Consulting Group portfolio matrix
9.1.1. Strategic Business Units
9.1.2. Categories used in the matrix
9.1.2.1. Star
9.1.2.2. Cash cow
9.1.2.3. Question Mark
9.1.2.4. Dog
9.2. The General Electric market attractiveness/ company strength matrix
10. Formulating the marketing strategy
10.1. The target market strategy
10.2. The positioning strategy
10.3. The marketing mix
10.4. Product strategies
10.5. Distribution (place) strategies
10.6. Marketing communication (promotion) strategies
10.7. Pricing strategies
10.8. Implementation, evaluation and control of the marketing plan
10.8.1. marketing audit
10.8.1.1. Comprehensive.
10.8.1.2. Systematic
10.8.1.3. Independent.
10.8.1.4. Periodic