Marketing Analysis.Pdf
48 Part One|Defining Marketing and the Marketing Process
Now that we’ve set the context in terms of company-wide strategy, it’s time to discuss customer-driven marketing strategies and programs.
Author
Comment Marketing Strategy and the Marketing Mix (pp 48–53)
The strategic plan defines the company’s overall mission and objectives. Marketing’s role is shown in Figure 2.4, which summarizes the major activities involved in managing a customer-driven marketing strategy and the marketing mix.
Consumers are in the center. The goal is to create value for customers and build profitable customer relationships. Next comes marketing strategy—the marketing logic by which the company hopes to create this customer value and achieve these profitable relationships.
The company decides which customers it will serve (segmentation and targeting) and how (differentiation and positioning). It identifies the total market and then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying the customers in these segments.
Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control—product, price, place, and promotion (the four Ps). To find the best marketing strategy and mix, the company engages in marketing analysis, planning, implementation, and control. Through these activities, the company watches and adapts to the actors and forces in the marketing environment. We will now look briefly at each activity.
In later chapters, we will discuss each one in more depth.
Customer-Driven Marketing Strategy
As emphasized throughout Chapter 1, to succeed in today’s competitive marketplace, companies must be customer centered. They must win customers from competitors and then keep and grow them by delivering greater value. But before it can satisfy customers, a company must first understand customer needs and wants. Thus, sound marketing requires careful customer
Now that we’ve set the context in terms of company-wide strategy, it’s time to discuss customer-driven marketing strategies and programs.
Author
Comment Marketing Strategy and the Marketing Mix (pp 48–53)
The strategic plan defines the company’s overall mission and objectives. Marketing’s role is shown in Figure 2.4, which summarizes the major activities involved in managing a customer-driven marketing strategy and the marketing mix.
Consumers are in the center. The goal is to create value for customers and build profitable customer relationships. Next comes marketing strategy—the marketing logic by which the company hopes to create this customer value and achieve these profitable relationships.
The company decides which customers it will serve (segmentation and targeting) and how (differentiation and positioning). It identifies the total market and then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying the customers in these segments.
Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control—product, price, place, and promotion (the four Ps). To find the best marketing strategy and mix, the company engages in marketing analysis, planning, implementation, and control. Through these activities, the company watches and adapts to the actors and forces in the marketing environment. We will now look briefly at each activity.
In later chapters, we will discuss each one in more depth.
Customer-Driven Marketing Strategy
As emphasized throughout Chapter 1, to succeed in today’s competitive marketplace, companies must be customer centered. They must win customers from competitors and then keep and grow them by delivering greater value. But before it can satisfy customers, a company must first understand customer needs and wants. Thus, sound marketing requires careful customer