Marketing Management Process (Cont’d)

1. Marketing Management Process (Cont’d) • Marketing managers plan and implement a sequence of activities that help the firm achieve its goals.

3. Marketing Management (cont’d.) • Marketing Plans • Objectives • Problems and Opportunities • Strategies • Tactics (who, what, when)

4. Marketing Management (cont’d.) • Marketing Strategies • target market • Marketing Mix • Product strategy • Price strategy • Promotion strategy • Place strategy

5. Marketing Managementcont’d. • Market segmentation • Niches within segments • Positioning within segments • Copy strategies

6. Marketing Managementcont’d • Controllable marketing mix variables • Uncontrollable variables • Physical - Competitive • Economic - International • Social • Ethics and legal

7. Marketing Management(cont’d) • Marketing Concept • Walmart • Other Examples

8. Marketing Management (cont’d) • Successful marketing strategies • Assets • Skills

9. Marketing Management (cont’d) • Searching for SCAs • Sustainable competitive advantages

10. Marketing Management (cont’d) • Reputation for quality • Customer service/product support • Name recognition/high profile • Retain good management and engineering staff • Low cost production • Financial resources

11. Marketing Management (cont’d) • Customer orientation/feedback/market research • Product-line breadth • Technical superiority • Installed base of satisfied customers • Segmentation/focus

12. Marketing Management (cont’d) • Cost strategies: Goodyear and Whirlpool • Differentiation by Value: • Michelin • Maytag

13. Marketing Management (cont’d) • Strategic emphasis helps firm orient themselves to key external factors such as consumers and competition.

14. Marketing Management (cont’d) • Product Life Cycles • Introduction • Growth • Maturity • Decline

15. Marketing Management (cont’d) • Balancing the Product Portfolio • Boston Consulting Group Matrix