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Summary Strategic marketing: chapter 1
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This summary is about chapter 1 (introduction) of integrated marketing. It's in english because it's an english course.
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STRATEGIC MARKETINGINTEGRATED MARKETING
CHAPTER 1 MARKETING PLANNING – NEW URGENCY, NEW POSSIBILITIES
Marketing is everywhere – businesses must fight to catch the customers’ eye
1 MARKETING PLANNING: VALUE, PURPOSE, CONTENTS
1.1 THE VALUE OF MARKETING
Marketing planning is important
o Customers have more information, more choices, higher expectations, more power and more
involvement
o Stakeholders are looking for companies to make a difference
Get your customers involved in your marketing
Customers demand transparency
o Marketing and value received benefits VS perceived total price providing value through
satisfying customers’ need
Marketing is all about creating, communicating, delivering and exchanging offerings that provide value
o Creating value = satisfying customers’ needs
o Marketing = a promise
, 1.2 THE PURPOSE OF MARKETING
Strategic > 1 year
Tactical = 1 year
Operational < 1 year
To provide a framework for guiding the company toward its objectives
A structured process helps you identify, assess and select appropriate marketing opportunities and
strategies
1.3 THE CONTENTS OF A MARKETING PLAN
1. Executive summary
2. Current situation
3. Objectives and issues
4. Target market, customer analysis and positioning
5. Marking strategy
6. Marketing programs
7. Financial and operational plans
8. Metrics and implementation control
The way your strategic marketing plan should look!
o In other words:
Where are we now? Who are we? What is the problem
Timing? Budget? Analysis?
Where do we want to be? Problem should be solved
implementation + control
Get a fresh perspective by creating a new pan every year, rather than adapting last year’s plan
2 DEVELOPING A MARKETING PLAN
STEP 1: RESEARCH AND ANALYZE THE CURRENT SITUATION
The marketer performs both:
External analysis
o Involves the understanding of:
Demographic
Economic
Technological
Political-legal
Ecological
Social-cultural
Competitors
Internal analysis
o Marketers also assess the firm’s capabilities and the strategies of competitors in order to:
Build on strengths
Exploit competitors’ weaknesses
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