MGT 140 Lecture Notes - Lecture 8: Product Manager, Marketing Plan
Document Summary
Comprehensive document outline company"s marketing efforts over prescribed period. Described marketing strategies & tactics involved in accomplishing specific business objectives within set time frame. Executive summary: mega problems, how to solve them. Market strategies: growth strategy, promo strat, product strat, route to market strat, pricing strat. Marketing tactics: acquisition, retention, advertising, online, growth. Strategy #1 improve customer adoption, position products as high-end, premium provider/brand. Strategy #2 grow new customers, use lead-generation activities to build new customer pipeline. Strategy #3- grow existing customer satisfaction, build loyalty to drive repurchasing process. Tactic #1 : drive product improvements to meet brand expectations. Tactic #2: introduce high end boutique locations to reinforce brand theme. Tactic #3: align pricing to capture brand value as brand position improves. Product manager: identifies market need/ opportunity, identifies product/ service requirements, must convince management that concept is feasible, has roi.
