Marketing Management

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05/09

Case studies - the ability to bring about the skills to approach real life scenarios.

three cases studies and a final research paper

At the end of the class :Three key trends that are happening in the environment - as a Marketing Manager

how business can harness their potential

Marketing strategy project - present the strategy via video to the professor

Scope:

Market segments - groups of people with certain characteristics

Target market - specific target

Goals and objectives

Resource deployment:

Competitive Advantage ID: Sustainable competitive advantage, what does better than others and it is hard to replicate

Synergy: "The whole is great than the sum of its parts" - how can a firm use all parts, working together rather than independently.

Forces impacting marketing

Globalization - more geographic markets

Technology - here and now society, immediate feedback via social media, robotic, building relationships with customers

Increased Service Focus - not just about the product, having the right people

Cooperative Relationships: build a relationship with the customer in all various departments of the organization

Decision-making focus

Side note ----------------------------

***(in case analysis: need to know the specific problem of the company is facing in order to come up with a specific solution)***

Title page

Executive summary - reason for course of action

Introduction

Problem identification - state what the key problem is, concisely why

Analysis - lookup the handbook: pulling apart the situation to see how we are going to solve the problem; 4 Cs, SWOT, product cycle, etc. The analysis reveals the solution.

Recommendation - timeline, implementation

Conclusion

Appendix - all analysis performed

End of side note --------------------------

Understand: 4Cs analysis - opportunities based on our current situation and evaluate the opps.

Company

Context

Customers

Competitors

Market Opportunity Analysis

Implementation & Control of Marketing Plan - Vegas trip implementation and controls (along the way) - milestones along the way such as number of orders, product testing, surveys.

5/16

Understand first - Who we are as a business / as a company = synergy

(Micro analysis, micro and situational analysis for each case study)

CH 2

MS flows from: mission statement, objectives, ethics

Facebook - make the world more open and connected

Google - organize the world info and make it universal and accessible

Microsoft - enable people and businesses throughout the world to realize their full potential

HOW are we going to grow our company?

Market penetration - hair conditioner illustration "repeat"

Product development - offer new product to their current customers - apple (bigger share of customer)

Market development - product into new audience, baking soda - bakers --> smelly fridges

Diversification - buy new business, new market and new products - GE

Strategic business units - marketing strategy - how do we invest our resources

Product position - BCG matrix (x=relative market share; y=market growth rate) strategist business portfolio - where will we invest our resources

Question mark, Stars, Cash cows, Dogs

It limits your investment opportunities

It does not project future technologies

Doesn't tell you how to implement the strategies it merely classifies them

Value based planning

CH 3 Business unit strategies

Michael Porter: Differentiator, low cost, niche, middle of the road (no strategy).

Prospector: aggressively growing (new product/market)

Analyzer: their core product is sustainable

Defender: maintain their current position

Reactor: blowing in the windup

Marketing mix decision 4p - defender - differentiator = coffee bean and tea leaf

5/23...
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