Principles Of Marketing Essay

1989 words - 8 pages

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Principles of Marketing

Company and Marketing Strategy: Partnering to Build Customer Relationships

Learning Objectives
After studying this chapter, you should be able to: 1. Explain companywide strategic planning in its four steps 2. Discuss how to design business portfolios and develop growth strategies 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring return on ...view middle of the document...

2. 3.

Identify key businesses making up the company Assess the attractiveness of its various SBUs Decide how much support each SBU deserves

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Companywide Strategic Planning: Defining Marketing’s Role
Steps in Analyzing the Current Business Portfolio
Identify key businesses making up the company • Strategic business unit (SBU) is a unit of the company that has a separate mission and objectives that can be planned separately from other company businesses • Company division • Product line within a division • Single product or brand
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Companywide Strategic Planning: Defining Marketing’s Role
Steps in Analyzing the Current Business Portfolio Assess the attractiveness of various SBUs and decide how much support each deserves

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Companywide Strategic Planning: Defining Marketing’s Role
Analyzing the Current Business Portfolio
The Boston Group Approach Growth share matrix is a portfolio planning method that evaluates a company’s strategic business units in terms of their market growth rate and relative share Strategic business units are classified as: • Stars • Cash Cows • Question marks • Dogs
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Companywide Strategic Planning: Defining Marketing’s Role
Analyzing the Current Business Portfolio
The Boston Group Approach Stars are high-growth, high-share businesses or products requiring heavy investment to finance rapid growth. They will eventually turn into cash cows. Cash cows are low-growth, high-share businesses or products that are established and successful SBUs requiring less investment to maintain market share
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Companywide Strategic Planning: Defining Marketing’s Role
Analyzing the Current Business Portfolio
The Boston Group Approach Question marks are low-share business units in high-growth markets requiring a lot of cash to hold their share Dogs are low-growth, low-share businesses and products that may generate enough cash to maintain themselves but do not promise to be large sources of cash

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Companywide Strategic Planning: Defining Marketing’s Role
Analyzing the Current Business Portfolio
Problems with Matrix Approaches

• • •

Difficulty in defining SBUs and measuring market share and growth Time consuming Expensive Focus on current businesses, not future planning
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Companywide Strategic Planning: Defining Marketing’s Role
Developing Strategies for Growth and Downsizing Product/market expansion grid is a tool for identifying company growth opportunities through market penetration, market development, product development, or diversification

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Companywide Strategic Planning: Defining Marketing’s Role
Developing Strategies for Growth and Downsizing

Product/market expansion grid strategies • Market penetration • Market development • Product development • Diversification

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Companywide Strategic Planning: Defining Marketing’s Role
Developing Strategies for Growth and Downsizing Market penetration is a growth strategy increasing sales...

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