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Chapter 2 Principles of Marketing

This document discusses company and marketing strategy, including defining mission and vision statements, analyzing the current business portfolio, and developing an integrated marketing mix. It emphasizes developing a customer value-driven marketing strategy through market segmentation, targeting, and positioning. The key aspects covered are: 1. Defining mission and vision statements and setting company goals and objectives 2. Analyzing the current business portfolio using methods like the BCG matrix 3. Planning marketing by partnering across departments and with suppliers to deliver customer value 4. Developing an integrated marketing mix of product, price, place, and promotion

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183 views

Chapter 2 Principles of Marketing

This document discusses company and marketing strategy, including defining mission and vision statements, analyzing the current business portfolio, and developing an integrated marketing mix. It emphasizes developing a customer value-driven marketing strategy through market segmentation, targeting, and positioning. The key aspects covered are: 1. Defining mission and vision statements and setting company goals and objectives 2. Analyzing the current business portfolio using methods like the BCG matrix 3. Planning marketing by partnering across departments and with suppliers to deliver customer value 4. Developing an integrated marketing mix of product, price, place, and promotion

Uploaded by

Waqas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Chapter 2

Company & Marketing Strategy:


Partnering to build Customer
Engagement, Value & Relationships
Difference Between a Mission
statement & Vision Statement
* Mission Statement
A Mission Statement defines the company's business, its objectives and its
approach to reach those objectives.

* Vision Statement
A Vision Statement describes the desired future position of the company.

Elements of Mission and Vision Statements are often combined to provide


a statement of the company's purposes, goals and values.
1- Company Wide Strategic
Planning: Defining Marketing Role
• Market Oriented Mission

A market-oriented mission statement defines a purpose that focuses


on satisfying a customer's needs.
Product VS Market Oriented Business Definitions
Company Product Oriented Market Oriented

Facebook We are an online social We connect people around the world and help
Network them share important moments in their lives

NASA We explore outer space We reach for new heights and reveal the
unknown so that what we do and learn will
benefit all humankind
Walmart We run discount stores We deliver low prices every day and give
ordinary folks the chance to buy the same things
as rich people. Save money and live better.

Revlon We sell cosmetics We sell lifestyle and self expression; success &
status; memories, hopes & dreams

Home Depot We sell tools and home repair We empower consumers to achieve the homes of
and improvement items their dreams
Setting Company Goals & Objectives
• Company needs to turns its broad mission into detailed supporting
objectives for each level of management.
• Each manager should have objectives & be responsible for reaching
them.
• Hierarchy should be defined
2- Designing the Business Portfolio
• After designing a company’s mission statement and objectives,
management now must plan its business portfolio

Business Portfolio: A collection of Business and products that make up


the company

A company may have complex portfolios of business and brands


Analyzing the current business
portfolio
• Portfolio Analysis:
The process by which management evaluates the products and
businesses that makeup the company
The Boston Consulting Group
Approach/ Growth- Share Matrix
• A portfolio-planning method that evaluates a company’s SBU’S in
terms of market growth rate & relative market share

Market Growth Rate –Investment


Relative Market Share – Profits
Developing Strategies for Growth &
Downsizing
• Product/ Market Expansion Grid:
A portfolio planning tool for identifying company growth opportunities
through
Market penetration
Market development
Product development
Diversification
3- Planning Marketing: Partnering to
build customer relationships
• Partnering with other company departments
• Partnering with others in the marketing system (value delivery
network)

• Value Delivery Network: A network composed of the company,


suppliers, distributors and other intermediaries, even customers who
partner with each other to improve the performance of the entire
system in delivering customer value
4- Marketing Strategy & the
Marketing Mix
• Customer Value Driven Marketing Strategy:
1- Market Segmentation
2- Market targeting
3- Positioning and Differentiation
Developing an integrated Marketing
Mix
• Product
• Price
• Place
• Promotion
4- Managing the Marketing Effort &
Marketing ROI
• Market Analysis
- SWOT Analysis
Strengths- Internal capabilities
Weaknesses- Internal limitations
Opportunities- External Factors
Threats- External Challenges
Marketing Planning
• Development of Marketing Plan
Content:
- Executive Summary
- Current Marketing Situation
- TO Analysis
- Objectives and issues
- Marketing Strategy
- Action Programs
- Budgets
- Controls
Marketing Implementation
• Turning Marketing strategies and plans into marketing actions to
accomplish strategic marketing objectives
Marketing Control
• Measuring and evaluating the results of marketing strategies and
plans and taking corrective action to ensure that the objectives are
achieved
5- Marketing ROI

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