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Summary h6 marketing
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All chapters belong together for a summary of the entire marketing subject taught by professor Nathalie Dens in the 1st year of the HI (B), tew and sew bachelor's degrees
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Marketing Nathalie DensMarketing strategy
Strategic marketing planning
= statement about what an organization wants to become, should give shape and direction to an
organization’s future
- Strategic context
o Resources and capabilities
o Competitors
o External environment
o Target customers
By understanding and managing these four elements, we can develop a coherent strategic
marketing plan through which offerings have a greater chance of success than if no analysis
or planning is undertaken
- Mission
= purpose of the company, ‘people don’t buy what you do, they buy why you do it’
o What business are we in, who are our customers, what are we in business for, what
sort of business are we,…?
o Mission statements
Realistic
realistic goals, limited numbers of goals
Specific
fit your company and no other, not too broad/vague
Based on unique, distinctive competence
what do we want to excel at, how do we differentiate ourselves from
competitors?
Motivating
something to believe in, important work, positive contribution to others
Market oriented
o Product VS market orientation
Ex. A railroad company: run a railroad VS people-and-goods mover
- Organizational values
= desired outcomes of the organization’s various activities, may be articulated in terms of
profit, market share, share value, return on investment or numbers of customers served
o Short-term or long-term
o Shape organizational culture
acceptable interpersonal and
operating standards of behaviour
o Govern and guide
the behaviour of individuals within
the organization
Corporate strategy:
means by which the resources of the organization
are matched with the needs of the environment in
which the organization decides to operate
1
, Marketing Nathalie Dens
Process and activities
- Strategic market analysis
= necessity to develop knowledge and understanding of the marketplace (DESTEP)
= provides insight into the market/customers/competition, should consider segment
needs/current strategies/key financial data
o Demographic forces
size, density, age, gender, occupation and other statistics
o Economic forces
factors that affect consumer purchasing power and spending patterns
o Socio-cultural forces
factors that affect society’s basic values, preferences and behaviour
o Technological forces
crucial influence on the macro environment, factors that create new technologies
and thereby create new product and market opportunities
o Ecological forces
natural forces in the macro environment, natural resources needed as inputs or are
affected by marketing activities
o Political forces
laws, government agencies, pressure groups that influence and restrict
o Five forces model (zie pp 2)
o SWOT analysis
= used to determine an organisation’s strategic position
Strengths
what an organisation is good at, gives particular credibility and market
advantage
Weakness
organisation lacks or performs in an inferior way in comparison with others
Opportunity
potential to advance organisation by developing/satisfying an unfilled market
need
Threat
something that may destabilize/reduce potential performance of the
organisation at some time in the future
o PESTLE (zie pp 2) => threats and opportunities => strategies
Marketing strategies:
should state the market(s) to be targeted, the basis on which the firm will compete, the competitive
advantages to be used, the way in which the product is to be positioned in the market
Marketing programmes:
should develop a marketing mix for each target market segment along with a specification of who is
responsible for the various activities and actions as well as the resources to be made available
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