MARK301 Chapter Notes - Chapter 19: Strategic Business Unit, Amay, Winning Percentage
2 Sep 2014
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Exploiting a competitive advantage (1) finding and using what really works. Sales response function = relates expense of marketing effort to the marketing results obtained. Share points = percentage points of market share (common basis for comparison) Strategic marketing process (output reports) Planning: marketing plans/programs 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: suggest solutions to problems, take advantage of opportunities. Planning phase of strategic marketing process: varieties of marketing plans. Vary with length of planning period, purpose and audience. Techniques to make resource allocation decisions: porter"s generic business strategies. Strategy that can be adopted by any firm, regardless of product or industry involved, to achieve a competitive advantage. Cost- leadership strategy: reducing expenses and lowering product prices while targeting broad array of market segments.
