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Best Marketing Practices

CHARLES F. STEILEN

BEST MARKETING PRACTICES

© 2009 Dr. Charles. F. Steilen

Best Marketing Practices Table of Contents

Best Marketing Practices ................................................................................................. 1 The Role of Marketing....................................................................................................... 2 Section 1: Managing the Marketing Process ................................................................ 3 Section II: Marketing Information System: Research, Analysis and Intelligence ... 10 Section III: Application of Research Tools and Analysis ........................................... 33 Section IV: Market Segmentation and Segment Prioritization ................................. 39 Section V: The Sales Forecast: Marketing Objective ................................................. 43 Section VI: Marketing Strategy and Weapons System .............................................. 48 Section VII: Determining the Weapon’s Objectives .................................................. 54 Section VIII: Tactical Action Plans................................................................................ 68 Section IX: Resource Requirements............................................................................. 70 Section X: Monitoring, Measuring System and Marketing Audit ............................ 73 Section XI: Marketing Expenditures .............................................................................. 76

charlessteilen@gmail.com

© 2009 Dr. Charles. F. Steilen

Best Marketing Practices

Best Marketing Practices
Best Marketing Practices are the most effective approaches to managing the marketing function. These are business processes that have stood the test of time and are today, being implemented by world-class marketing champions around the globe. They are universal and have no geographical boundary. They are applicable to any one particular corporation or industry. They are not however, the solutions. They are the processes leading to solutions… This document takes you through the key marketing steps, decisions and activities in a logical sequence. Each new step builds on the previous ones. In addition, each step and decision impacts on and interacts with many of the other key decision areas. This is the essence of Best Marketing Practices; know how the pieces of the marketing jig-saw puzzle should fit together.

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© 2009 Dr. Charles. F. Steilen

Best Marketing Practices

The Role of Marketing
The key mission of the Marketing Function is to lead the development of the marketing strategy and direction that translates needs, values and behaviors of consumers and clients into offerings which result in profitable growth while providing a sustainable competitive advantage. The function is accountable for achieving the agreed upon objectives, e.g. revenue, profits, market share etc. Its major activities include: Identifying market trends, technological developments, competitive activities and customer needs, values and attitudes. Identify new business opportunities as well as profitable market segments Identify and develops product offerings Identify new services opportunities Determining the positioning of the new product offering Developing the integrated marketing strategy Developing the appropriate marketing tools Identifying the marketing resources required and then manages those resources Providing the appropriate measurement tools The above activities take place in a logical order and process which will be described in the following sections.

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© 2009 Dr. Charles. F. Steilen

Best Marketing Practices

Section 1: Managing the Marketing Process
The Strategic Marketing Management Process provides us with an integrated approach in order to develop and implement marketing strategies and action plans that create and deliver superior customer values for various...
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