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Chapter 19

Chapter 19- Strategic Marketing Process.pdf

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Department
Marketing
Course
MARK301
Professor
Webb Dussome
Semester
Fall

Description
Chapter 19 Strategic Marketing Process Exploiting a Competitive Advantage 1 Finding and Using What Really Works Business and Management Practices i Strategydevise and maintain a clearly stated focused strategy ii Executiondevelop and maintain flawless operational execution iii Culturedevelop and maintain performanceoriented culture iv Structurebuild and maintain a fast flexible flat organization o firms that empower their employees to make decisions and provide an environment where internal communications are encouraged as well as active problemsolving 2 Allocating Marketing Resources Using Sales Response Functions Sales Response Functionrelates expense of marketing effort to the marketing results obtained Maximizing incremental revenue minus incremental cost o allocate the firms marketing production and financial resources to the markets and products where the excess of incremental revenues over incremental costs is greatestAllocate marketing resources effectively for different product lines Share Pointspercentage points of market share common basis for comparisonStrategic Marketing Process output reports Planning marketing plansprograms that define goals and the marketing mix strategies to achieve them Implementation results that describe the outcomes of implementing the plans Control Corrective action memos triggered by comparing results with plans that 1 suggest solutions to problems 2 take advantage of opportunitiesPlanning Phase of Strategic Marketing Process i Varieties of Marketing Plansvary with length of planning period purpose and audience TypesLongrange Marketing Plans o cover marketing activities 25 years into the futureAnnual Marketing Plans o marketing goals and strategies for a product line or entire firm for a single year
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