Strategic Marketing Management

Topics: Marketing, Pricing, Price Pages: 5 (728 words) Published: April 10, 2010
Guidelines for “Strategic Marketing Project”

1. Environmental Analysis (SWOT)
2. Identifying Customers
3. Competitor/Value Creation Analysis
4. Marketing Mix: The 4 P’s
5. Financial Analysis and Budget
6. Implementation and Control Plan

1. Know Your Marketplace
• Strengths, Weaknesses, Opportunities, and Threats (SWOT) • Trends and changes:
– Market analysis
– Segmentation
– Prioritizing target markets
1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3. Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system)

The most fundamental marketing concept is treating customers like you are truly interested in them. That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program.

A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firm’s strengths weaknesses

2. Who Are Your Customers?

Customer/Consumer Trends
• Just-in-time inventory
• Business to business (B2B)
• Manufacturing mentality
• Industrialization of agriculture

• Households with fewer people
• Active, on-the-go lifestyles
• Concern over the health aspect of food, with a desire for good taste • Less time for meal prep

Know What Is Important to Your Customer

• Get inside the mind of your customers
• Find out why they would buy from you. . . or why they would not • Truly understand their needs
– Intentional listening
– Customer analysis
– Solve their problems

3. Competitor/Value Creation Analysis

Make sure you are distinctively different from your competition in areas of importance to your customers • Competitive analysis
• Reallocation of resources if necessary
• Positioning

The Value Chain
The Value Chain, or value plate, does is breakdown the functions of a company into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The "primary activities" include: inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The "support activities" include: administrative infrastructure management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity. The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning.

4. Determining the Marketing Mix
• The set of controllable variables that will accomplish the marketing objectives: • Product strategy
• Place (distribution) strategy
• Promotion (communication) strategy
• Pricing strategy
Product Strategy
• Portfolio of Products
– Flavors, colors, variants, blends, genres etc
– Fits your strengths and weaknesses
– Provides acceptable risk/return trade off
– Meets needs of a particular customer segment
• Quality
– No. 1 versus No. 2

• Service
– Timely custom operations
– Pre-sorting of grain or livestock quality
• Volume
– Large and small...
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