Marketing Strategy (chapter 5)

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Marketing Strategy (chapter 5) by Mind Map: Marketing Strategy (chapter 5)

1. Strategic Market Analysis

1.1. Necessary for

1.1.1. Develop knowledge and understanding of the market place

1.2. Analysing Competitors

1.2.1. Important before taking into consideration PESTLE+5 FORCES+SWOT

1.2.2. Needs to answer 5 questions

1.2.2.1. Who are our competiors?

1.2.2.1.1. those who provide porpositions that meet the same market need as our own

1.2.2.1.2. Approches of meeting the needs

1.2.2.2. What are their strenghts and weaknesses?

1.2.2.2.1. get information about

1.2.2.2.2. in order to determine

1.2.2.3. What are their strategic goals?

1.2.2.3.1. Not always maximizing income: achieving a certain market share, market leadership...

1.2.2.3.2. Can ussually only be infered from actions

1.2.2.4. Which strategies are they following?

1.2.2.4.1. two main factors strategies can be cosidered through

1.2.2.5. How are they likely to respond?

1.3. Suppliers and Distributors

1.4. SWOT analysis

1.4.1. Contemplates internal capability and external potentials

1.4.1.1. Strenghts

1.4.1.1.1. Something an organization is good at doing

1.4.1.1.2. Something that gives it particular credibility and market advantage

1.4.1.2. Weaknesses

1.4.1.2.1. Something an organization lacks

1.4.1.2.2. something an organization performs in an inferior way

1.4.1.3. Oportunities

1.4.1.3.1. potential to advance the organization by the develpoment and satisfactio of unfulfiled market need

1.4.1.4. Threats

1.4.1.4.1. something that might destabilize or reduce potential performance in the future

2. Introduction

2.1. How organizations organize themselves to make sales, achieve profits, and keep stakeholders happy?

2.2. Strategic Context (necessary to understand before developing marketing strategy)

2.2.1. Resorces and Capabilities

2.2.2. Target Customers

2.2.3. Competitors

2.2.4. The external environment

2.3. Elements defined on a framework of intended performance

2.3.1. Vision

2.3.1.1. Oragnization's future

2.3.2. Mission

2.3.2.1. What the organization wishes to achieve long term

2.3.2.2. Should be realistic and market oriented

2.3.3. Values

2.3.3.1. How people should behave within the organization to help shape how the goals will be achieved

2.3.4. Organizational Goals

2.3.4.1. represent what should be achieved at strategic levels

2.3.4.2. Articulated in terms of profit, market share, share value, return on investment, or number of cusomers served

2.3.5. Organization/Corporate Strategy

2.3.5.1. means by which organizational resources are matched with the needs of the organization's operations environment

2.3.5.2. Strategic Business Units

2.3.5.2.1. Exist when organizations operate in different markets and the planing process is complicated

2.4. Strategic Markting Planning according to Mc Donalds

2.4.1. A series of logical steps to be worked through to arrive at a marketing plan

2.4.2. Phases of those steps

2.4.2.1. Setting the right mission and corporate goals

2.4.2.2. Reviewing the context on which the organization is operating

2.4.2.3. Formulate an strategy

2.4.2.4. Allocation of resources necessary to implemnet and monitor the plan

2.5. Strategic Marketing Planning steps

2.5.1. Organizations set out its vision, mission and values

2.5.2. Measurable corporate goals are stablished

2.5.3. Analysis of the strategic context and resources available

2.5.4. Determination of strategies and probable outcomes

2.5.5. Set SBUs if the organization is big

2.5.6. Each business and/or offering develops functional and competitive strategies and plans

2.5.7. The plan is implemented and the results are measured

3. Strategic Marketing Planning-Activities

3.1. Necessary activities when considering the development of marketing strategy

3.1.1. Strategic Marketing Goals

3.1.1.1. Necessary to

3.1.1.1.1. Determine what the marketing strategy should achieve

3.1.1.2. Main types of strategic objectives

3.1.1.2.1. Niche

3.1.1.2.2. Hold

3.1.1.2.3. Harvest

3.1.1.2.4. Divest

3.1.1.2.5. Namely Growth

3.1.2. Strategic Marketing Action

3.1.2.1. Necessary to

3.1.2.1.1. Determine how the strategies should be developed as plans and how this plans should be implemented

3.1.2.2. Competitive Advantage

3.1.2.2.1. Definition

3.1.2.2.2. Ssuteinable Competitive Advantage (SCA)

3.1.2.3. Generic Strategies

3.1.2.3.1. Cost Leadership

3.1.2.3.2. Differentiation

3.1.2.3.3. Focus Strategies

3.1.2.4. Competitive Positioning

3.1.2.4.1. the position that a porduct adpots in the market is a general reflection of its market share

3.1.2.4.2. Poisitions

3.2. Strategic Intent

3.2.1. How firms engage strategically with their chosen markets?

3.2.2. Perspectives on the subject

3.2.2.1. Strategic Competition and Warfare

3.2.2.1.1. Apporaches

3.2.2.1.2. The overall size market is static. Individual companies can grow by taking a market share from its compeititors and the defending it

3.2.2.2. Strategic Cooperatio and Relationship

3.2.2.2.1. How customer value can be increased through cooperation

4. Implementation

4.1. Characteristics of companies maarketing implementation capabilities

4.1.1. Time-specifific

4.1.2. Culture-specific

4.1.3. Partial

4.1.4. Latent

4.1.5. Internally Consitent

4.1.6. Strategy Specific

4.1.7. Person Specific

4.2. Elements that impact the implementation

4.2.1. The structre and type of marketing function and the degree to which marketing orientation prevails across the organization

4.2.2. The amount of available finatial rsources and how they are distributes

4.2.3. Marketing Metrics

4.2.3.1. the costs used to measure the effectiveness of the impemetntation process

4.3. Structures and Typs of Marketing Organziations

4.3.1. Types of Marketing Organization

4.3.2. Finance and Budgeting

4.3.3. Marketing Metrics

4.3.3.1. Profit/Profitability

4.3.3.2. Sales

4.3.3.3. Gross Margin

4.3.3.3.1. percent of profit

4.3.3.4. Awareness

4.3.3.4.1. of the existence of the brand

4.3.3.5. Market Shares

4.3.3.5.1. salesd revenueX100/total inductry sales revenue

4.3.3.6. Number of New Products

4.3.3.7. Relative Price

4.3.3.7.1. your price/ market leaders price

4.3.3.8. Number of consumer complaints or relative dissatisfaction

4.3.3.9. consumer Satisfaction

4.3.3.10. Distribution/availability

4.3.3.11. Customer advocacy

4.3.3.11.1. nurturing loyal customers

5. Managing and controling marketing Programs

5.1. The marketing strategy

5.1.1. effectiveness and efficiency

5.1.1.1. Effectiveness

5.1.1.1.1. measured by

5.1.1.2. Efficiency

5.1.1.2.1. Measured by

5.1.1.3. companies that succeed in one dimension succeed less on the other

5.1.2. dream: be effecient and effective

6. Marketing Planning

6.1. Definition

6.1.1. Sequential processinvolving a series of activitiesleading to the setting of marketing objectivesand the formulation of plans for achieving them

6.2. Should include

6.2.1. Executive summary

6.2.2. Overall Objectives

6.2.3. product/market background

6.2.4. Marketing analysis

6.2.5. Marketing strategies

6.2.6. marketing goals

6.2.7. Marketing programmes

6.2.8. Implementations

6.2.9. Supporting documentation