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MARK1020 (22)
Lecture 2

MARK1012 Week 2

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George Brown College
Robert Goode

Week 2: 9/10/2013 LECTURE Ch. 2 Developing Marketing Strategies Levels of Planning Scope Duration Strategic Focus Corporate Planning Entire firm Long-term (5 yrs) Define the company’s missions, set goals, and establish business portfolio Strategic business Single SBU within the Medium to long-term Set goals and unit (SBU)/Division firm (3 - 5 yrs) establish portfolio of planning (applies only products and markets to large firms with for the business unit more than one distant line of business) Functional planning Product portfolio, Short-term to medium Develop marketing (eg. Marketing, single product, brand (1 – 3 yrs) plans for specific planning) or market products, brands, or markets Marketing planning process. A set of steps a marketer goes through to develop a marketing plan Marketing Plan. A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements. = 1. Mission statement. A broad description of a firm's objectives and the scope of activities it plans to undertake,attempts to answer two main questions: What type of business are we? What do we need to do to accomplish our goals and objectives? Objectives – things we measure. Week 2: 9/10/2013 LECTURE 2. SWOT Analysis – what’s currently happening? Positive Negative Internal Strengths Weakness  Superior resources and capabilities  Little or no brand recognition  Superior management, marketing,  Lack of financial resources technical talent  Lack of other resources and capabilities  Strong brand  Lack of marketing, management, and  Superior product offerings technical talent  Extensive marketing reach  Limited market reach or distribution  Wide distribution networks network (national/global)  No propriety technology  Strong financial resources  Poor location  Excellent geographic location  Limited customer base or loyalty  Proprietary technologies/Intellectual  Lack of credibility property  Strong base of loyal customers External Opportunities Threats  CDSTEP changes that offer opportunities  Political or regulatory changes (e.g., new for the firm to serve new markets with laws affecting business or products) existing products and/or pursue  New entrants into the industryor market complete!), new market opportunities  New technology that could render existing  When existing firms exit the market technology or business practices obsolete because of financial or other dtificulties  Natural or man-made disasters (i.e., reduced competition)  Recession or economic downturn that  When a firm acquires another firm, the affects consumers' purchasing power and acquiring firm gets market access, new confidence customers, new technology and expertise,  Changes in sociocultural or demographic and financial resources trends 3. STP Segmentation – put people into groups, responding similarly to firms marketing effo
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