Marketing Strategy & Bcg Consulting Model

Powerful Essays
Marketing Strategy
At the heart of any business strategy is a marketing strategy
Businesses exist to deliver products that satisfy customers. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. A marketing strategy is composed of several interrelated components called the marketing mix: The Marketing mix consists of answers to a series of product and customer related questions. The Marketing Mix 1. Market selection a. Who are the customers or subset (segment) of customers you are targeting? 2. Product planning a. What products are the company going to design or OEM for the selected customers? b. What are the product features uniquely targeting this market? c. How will the product be packaged? 3. Pricing a. Pricing is a quantitative expression of the value of the product to the customer. b. Pricing should be designed like a feature consistent with the use of the product. c. What will you charge for and How much? d. How will the customer pay and when? e. See also the discussion of the Price/Features matrix 4. Place a. Which channel, direct, wholesale or retail channels best moves and delivers the product and its benefits to the selected market? 5. Promotion a. Positioning: What is the message that states the purpose and benefits of the product in the market and how it competes? b. Selling: Direct or indirect through others? c. Communications How will people be informed

You May Also Find These Documents Helpful

  • Good Essays

    BCG Model in Marketing?

    • 4212 Words
    • 121 Pages

    Marketing Management Unit 2 Scanning Marketing Opportunities Chapter 4 - Strategic Planning Lesson 12 - Business Portfolios, Boston Consulting Group (BCG) Modal Hello students! After having an understanding of what an SBU is you also need to now how do the companies select a particular strategy for which they need to analyze their SBUs? There is a matrix given by the Boston Consultancy Group, which can be used by the companies for the purpose of analysis, which will be discussed in this lesson…

    • 4212 Words
    • 121 Pages
    Good Essays
  • Good Essays

    bcg model

    • 615 Words
    • 4 Pages

    construct a BCG model for a company having multiple business org. and discuss the following strategies with example: 1) Market penetration 2) Market development 3) Product development 4) diversification ii : discuss related diversification and unrelated diversification. Here we construct BCG model for Unilever brand. Company’s mission: “we meet everyday needs for nutrition,hygine and personal care with brands that help people feel good,look good and get more out of life.” What is BCG model? The BCG…

    • 615 Words
    • 4 Pages
    Good Essays
  • Better Essays

    bcg marketing

    • 966 Words
    • 6 Pages

    Concept An introduction to the management basics The n x The Boston Consulting Group came up with several well-known strategic concepts under its inspirational founder Bruce Henderson. The most famous is the Boston Matrix. U ntil the 1960s, models were the impenetrable domain of economists. The man who can be largely credited with bringing business models into the mainstream was Bruce Henderson (1915-92), an Australian engineer who worked as a strategic planner for General…

    • 966 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    BCG model

    • 393 Words
    • 2 Pages

    Limitations
 of the BCG model. The BCG model is criticised for having a number of limitations (Kotler 2003; McDonald 2003): ➢ There are other reasons other than relative market share and market growth that could influence the allocation of resources to a product or SBU: reasons such as the need for strong brand name and product positioning could compel resource allocation to an SBU or product (Drummond & Ensor 2004). ➢ What is more, the model rests on net cash consumption or generation as the…

    • 393 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    breach the University’s regulations. Signature: …… Date: ……… GRADED ASSIGNMENT.3. The need to manage cash flow provided the impetus for the Boston Consulting Group (BCG) to design the matrix in 1970, which has since become one of the most widely used portfolio analysis models. Companies use BCG analysis in brand marketing, product management, portfolio and strategic management to help them develop their various businesses or products. It involves classifying products into four (4)…

    • 1168 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    BOSTON CONSULTING GROUP MATRIX ( BCG ) This technique is particularly useful for multi-divisional or multiproduct companies. The divisions or products compromise the organisations “business portfolio”. The composition of the portfolio can be critical to the growth and success of the company. The BCG matrix considers two variables, namely.. N MARKET GROWTH RATE N RELATIVE MARKET SHARE The market growth rate is shown on the vertical (y) axis and is expressed as a %. The range is set somewhat…

    • 1064 Words
    • 9 Pages
    Satisfactory Essays
  • Powerful Essays

    BCG matrix The Boston Consulting Group matrix allows a multinational company to manage its portfolio by studying the relative market share and the industry growth rate of each division relative to all other divisions in the organization. It consists of 4 basic elements: 1. Question Marks(?)- falls in Quadrant I that has a low relative market share position but compete in a high-growth industry. 2. Stars- falls in Quadrant II that has a high relative market share and even has a high-growth industry…

    • 941 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    Kids Marketing Consulting

    • 1907 Words
    • 8 Pages

    “dig deeper” and consider competitive set as “limiting of competitors only to those that offer the same quality product or have the same standards”. Than I might consider only industry leaders or those firms who, for example, belong to Ukrainian Marketing Association (UMA), legally registered and operated (white in Ukraine), I will call them Group A. Group A firms are considered to have a higher industry standards and reputation. Customer, if unfamiliar, would be educated as to value and quality…

    • 1907 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Marketing strategy

    • 1477 Words
    • 6 Pages

    Follower Nicher According to Shaw, Eric (2012). Marketing Strategy: From the Origin of the Concept to the Development of a Conceptual Framework. Journal of Historical Research in Marketing., there is a framework for marketing strategies. Market introduction strategies "At introduction, the marketing strategist has two principle strategies to choose from: penetration or niche" (47). Market growth strategies "In the early growth stage, the marketing manager may choose from two additional strategic…

    • 1477 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Marketing strategies

    • 1099 Words
    • 5 Pages

    Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.[1] Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute…

    • 1099 Words
    • 5 Pages
    Powerful Essays