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Comprehensive notes on strategic marketing
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Samenvatting Strategische Marketing
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MarketingCH1
- Identifying and meeting human and social needs (profitably)
Goods, services, events, experiences, persons, places, properties, organizations,
information, and ideas
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large
- Marketing management the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating superior
customer value
Marketer VS prospect market = customer groups
- Needs VS wants VS demand
Stated needs
Real needs
Unstated needs
Delight needs
Secret needs
- Target markets market offering to position in customers mind
- Value proposition benefits that satisfy needs
- Marketing channels
Communication channels
Distribution channels physical product display
Service channels
- Communication options
Paid media
Owned media
Earned media
- Impression VS engagement
- Value tried quality + service + price
- Marketing environment
Task environment actors engaged in producing, distributing and promoting
Broad environment demographic, economic, social-cultural, natural, technological
and political-legal environments
- Company orientation toward the marketplace
Production concept consumers prefer products that are widely available and
inexpensive
The product concept consumers favor products offering the most quality,
performance and innovation
Selling concept consumers won’t buy enough product if not influenced to
1
, Marketing concept not right customer for product but right product for customer
- Holistic marketing concept
everything matters needs broad,
integrated perspective
Relationship marketing
marketing network
Integrated marketing every
aspect of the product included
Internal marketing towards
employees
Performance marketing financial
and nonfinancial returns from
marketing
- Four Ps
Old Product – place – promotion- price
Now people – processes – programs – performance
- Marketing management tasks
Developing and implementing marketing strategies and plans
Capturing market insights
Connecting with customers
Building strong brands
Creating value
Delivering value
Communicating value
Managing market organization for long term success
CH2
Customer value
- Value delivery process marketing at the beginning of planning and not during the
selling process
Choosing the value segmentation, targeting, positioning (STP)
Providing value identifying specific product features
Communicating the value announce and promote product
- Value chain activities that create value
Primary activities inbound logistics, operations, outbound logistics, marketing,
service
Support activities procurement, technology development, HR managements, firm
infrastructure
Activities must be coordinate to conduct core business processes
Market-sensing process gathering info and acting on the market
New-offering realization process research, development, launching with
speed and within budget
Customer acquisition process define target market
Customer relationship management process relationships with individual
customers
Fulfillment management process receiving and approving orders
2
, Value delivery network (supply chain) partnering with outside suppliers and
distributors
- Core competencies distinctive capabilities
Source of competitive advantage and contribution to perceived customer benefits
Applied to a variety of markets
Difficult to imitate by competitors
- Central role of strategic planning
Managing business as an investment portfolio
Assessing market growth rate and position within market
Establishing strategy
Marketing plan
Strategic marketing plan target markets and firm’s value proposition
Tactical marketing plan specific marketing tactics
Corporate and division strategic planning
- Defining corporate mission mission statement
- Establishing strategic business units (SBU) companies manage different businesses
Single business or collection of related businesses
Own set of competitors
Manager responsible for strategic planning and profit performance
- Assigning resources to each SBU portfolio planning based on shareholder value analysis
- Assessing growth opportunities
Intensive growth product-market expansion grid
Market-penetration grid for current products in current market
Market-development strategy for new market search
Product-development strategy for new products in current market
Diversification strategy for new product in new markets
Integrative growth increasing profits
Backward integration acquire supplier
Forward integration acquiring distributor
Horizontal integration acquiring competitor
Diversification growth
- Organization and organizational culture
Corporate culture shared experiences, stories, beliefs, and norms that characterize
an organization
Scenario analysis plausible representation of possible future
BSU strategic planning
- Business mission specific mission
- SWOT analysis company’s strength, weakness, opportunity, threats
External environment analysis monitoring macroenvironment forces and
microenvironment factors that affect ability to earn profit
3
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