Relationship with Selling and Marketing

Selling is an aspect of marketing.
Fire versus Ready, Aim and Fire

Marketing Mix

Marketing Mix, also known as the Four Ps

·         Product

·         Price

·         Place (Distribution)

·         Promotion

Target Markets

Organizations select target markets within the entire marketplace using market segmentation. They then develop a marketing mix to reach the target market.

Discussion Topic: Identify the marketing mix for a product you use.

Four Cs

Macro-environment
Customers
Competitors
Collaborators
Company

Market Planning

4 Cs: Company, Collaborators, Competition, Customers
4 Ps
Market Segmentation
Evaluation and Budgets

Discussion Topic: Identify a recent marketing campaign designed to create negative demand.
Relevant websites
American Marketing Association
Edmunds.com---MetaMarket
SBA: The Marketing Plan
Link to Discussion Board
Return to Syllabus
Old Notes

 

Marketing Strategy: Key Concepts 2

Section 1, 2

Strategic Planning Process

1. Corporate Level
2. Business Level
3. Product Level

Higher levels (corporate) govern lower level planning processes. Strategic planning requires:

1. Planning
2. Implementation
3. Control

Corporate Strategic Planning

1. Identify the company's Mission
2. Identify SBUs (customer focused)
3. Allocate Resources across SBUs (BCG Model; GE Model; Product Life Cycle; systems)
4. Growth Strategies for SBUs (intensive; integrative; diversification)

Mission Statement: Purpose; Business; Values Reason to be? Invisible hand etc.
Product Terms...outdated
Technology Terms...outdated
Market Terms...keep in touch with consumer's needs
From five years ago, and still relevant:

• AT&T is in the communications business not the telephone business.
• Visa...allows customers to exchange values...not credit cards
• 3M solves problems by putting innovation to work.

Example Mission Statements:

• Mozilla.org
• unicef
• Ben & Jerry's
• PepsiCo
• New York State Education's Mission

Discussion Topic: Find your company's mission statement. How well is this statement understood among employees and customers? Evaluate the missions statements above with respect to purpose, business and values.

Identify the limiting factors with the BCG and GE models.