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Summary Strategic marketing: chapter 1 $4.81
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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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  • September 23, 2023
  • 5
  • 2023/2024
  • Summary
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STRATEGIC MARKETING
INTEGRATED 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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