What is The role of marketing in the organisation (3)
1.identify and communicate customer wants and needs throughout the organisation 2. determine the comptive positioning to match the needs of the customer with company capabilities 3. marshal all relevant organisational resources to delvi custom sat
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what are strategic conditions concerned with? (7)
• The long term direction of the organisation • Achieving some advantage • Scope of an organisation’s activities • Matching the activities of the organisation to the environment in which it operates Where are we? where do we want to go? How?
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Relationship between business and marketing strategy
look at notes
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Outside-In: The Marketer’s View of Strategy (2)
• Our prime emphasis is on understanding what’s going on outside the organisations we work for • We consider our customers and competitors in developing strategy (situational analysis)
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Outside-In: The Marketer’s View of Strategy (2)
• We believe we should adapt our business's resources, assets and employees’ skills to what we think the market requires • We look outside before we consider what we’re going to do inside. Hence the term “outside-in”.
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What is marketing strategy
look at notes
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What are the Possible types of marketing objectives? (3)
Market leader strategy, increase share of existing markets, 3. Improve profitability (gross profits) within existing market share
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Market leader strategy
– Expand overall market • Find new users, uses or increasing usage rate of product – Guard existing share • Strengthen positioning, innovation, customer relations – Expand current share • 4 P’s, mergers, geographic expansion
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Increase share of existing market
Encourage switching behaviour from competitors e.g. utility firms
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3. Improve profitability (gross profits) within existing market share
reduce costs and increase margains
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What is market penetration?
Existing products to more of the same market segments Aim is to increase sales volume in current markets Usually with more aggressive marketing
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What is market development?
• Selling more of an existing product to new markets
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How is this done?
Segmentation of the market:- new geographic segments (Mercedes: China & India) - other segments (age, product usage, lifestyle etc) - Develop new markets for growth and maintaining market share
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What is product development?
• Selling completely new or improved products into existing markets • Extending the life of existing products • Re-packaging, adding value, new features or new product development
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What is diversification?
• New products for new markets • Entering unfamiliar territory in both product & market • High level of risk and expensive • Spreads risk
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Other cards in this set
Card 2
Front
what are strategic conditions concerned with? (7)
Back
• The long term direction of the organisation • Achieving some advantage • Scope of an organisation’s activities • Matching the activities of the organisation to the environment in which it operates Where are we? where do we want to go? How?
Card 3
Front
Relationship between business and marketing strategy
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