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Chap 2 strategic marketing

Chapter 2
Strategic Marketing

A. Intoduction
1. Marketing’s Role in the Organization (TM 2-1)
2. Definition of Marketing Strategy (TM 2-2)
3. Characteristics of Strategic Marketing (TM 2-3)
B. Marketing Strategy Formulation
1. Three Strategic Cs (TM 2-4)
2. Key Elements of Marketing Strategy Formulation (TM 2-5)
3. Strategic Marketing Decisions (TM 2-6)
4. Test of a Good Marketing Strategy (TM 2-7)
5. Future of Strategic Marketing (TM 2-8)
C. Strategic Marketing and Marketing Management
1. Major Differences Between Strategic Marketing and Marketing Management (TM 2-9)
D. Organizational Context of Strategic Marketing
1. Profess of Strategic Marketing (TM 2-10)
E. Strategic Marketing Implementation
1. Failings in Strategic Marketing (TM 2-11)
2. Addressing the Failings (TM 2-12)


169


170 CHAPTER 2: Strategic Marketing

2-1

MARKETING’S ROLE
IN THE ORGANIZATION
ORGANIZATIONAL

ROLE OF

FORMAL

LEVEL

MARKETING

NAME

Corporate

Provide customer and

Corporate

competitive perspective for

marketing

corporate strategic planning
Business Unit

Assist in the development of

Strategic

strategic perspective of the


marketing

business unit to direct its future
course
Product/market

Formulate and implement
marketing programs

Marketing
management


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2-2

DEFINITION OF
MARKETING STRATEGY
Marketing strategy is an endeavor by a business
unit to differentiate itself positively from its
competitors, using its relative corporate strengths
to better satisfy customer needs, in a given
environmental setting.


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2-3

CHARACTERISTICS OF
STRATEGIC MARKETING
• Emphasis on long-term implications.
• Corporate inputs.
• Varying roles for different products/markets.
• Organizational level.
• Relationship to finance.


CHAPTER 2: Strategic Marketing 173

2-4

3 STRATEGIC Cs


Customer



Corporation



Competition


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2-5

KEY ELEMENTS OF MARKETING
STRATEGY FORMULATION


CHAPTER 2: Strategic Marketing 175

2-6

STRATEGIC MARKETING DECISIONS
• Where to compete—i.e., definition of the market.
• How to compete—i.e., means for competing.
• When to compete—i.e., timing of market entry.


176 CHAPTER 2: Strategic Marketing

2-7

TEST OF A GOOD
MARKETING STRATEGY
• A clear market definition.
• A good match between corporate strengths and the
needs of the market.
• Superior performance, relative to competition, in the
key success factors of the business.

.


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2-8

FUTURE OF STRATEGIC MARKETING
Strategic marketing is increasingly becoming
important because of:
• Battle for market share.
• Deregulation in many industries.
• Packaged-goods companies entering nonmarketingoriented industries.
• Shifts in channel structure.
• Competition from overseas.
• Fragmentation of markets.
• Getting to the market quickly.
• Conceive and create new and uncontested market
spaces.
• Demographic shift in American society.


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2-9

MAJOR DIFFERENCES BETWEEN
STRATEGIC MARKETING AND MARKETING
MANAGEMENT
POINT OF
DIFFRENCE

STRATEGIC
MARKETING

MARKETING
MANAGEMENT

Time frame

Long-range; i.e., decisions
have long-term implications

Day-to-day, i.e., decisions
have relevance in a given
financial year

Orientation

Inductive and intuitive

Deductive and analytical

Decision process

Primarily bottom-up

Mainly top-down

Relationship
with environment

Environment considered ever- Environment considered
changing and dynamic
constant with occasional
disturbances

Opportunity
sensitivity

Ongoing to seek new
opportunities

Ad hoc search for a new
opportunity

Organizational
behavior

Achieves synergy between
different components of the
organization, both
horizontally and vertically

Pursues interests of the
decentralized unit

Nature of job

Requires high degree of
creativity and originality

Requires maturity,
experience, and control
orientation

Leadership style

Requires proactive
perspective

Requires reactive
perspective

Mission

Deals with what business to
emphasize

Deals with running a
delineated business


CHAPTER 2: Strategic Marketing 179

2-10


180 CHAPTER 2: Strategic Marketing

2-11

FAILINGS IN STRATEGIC MARKETING
• Too much emphasis on “where” to compete
and not enough on “how” to compete.
• Too little focus on uniqueness and adaptability
in strategy.
• Inadequate emphasis on “when” to compete.


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2-12

ADDRESSING THE FAILINGS
• Develop attainable goals and objectives.
• Involve key operating personnel.
• Avoid becoming engrossed in current problems that
may affect strategic planning.
• Don’t keep marketing strategy separate from the rest
of management process.
• Avoid formality in strategy formulation.
• Create climate conducive to strategic planning.
• Avoid delegating strategy development to a planner.
• Avoid intuitive and conflicting decisions.



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