Professional Documents
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Marketing For Engineers CH 2
Marketing For Engineers CH 2
Dr. Karim
S t r a t e g y - D e fi n i t i o n
A strategy, is an
IDEA, a
conceptualization of
how the goal could be
achieved.
Strategy Vs Tactic
Atactic is an activity we adopt to execute the strategy.
Different tactics may be deployed as part of a single strategy.
Levels of Strategy
Organizations have different levels of strategy, particularly for
larger or global organizations. They identify:
Corporate Strategy which is concerned with the overall purpose and scope of the
organization.
Business Unit Strategy which defines how to compete successfully in a particular
market.
Functional or Operational Strategies that describe how the corporate and
business unit strategies will be operationalized in different functional areas or business
processes. Functional strategies refer to marketing, supply chain management,
human
resources,
finance
and
information
systems
strategies.
marketplace
through
market-oriented
continuous
developing
maintaining
between
resources
and
the
and
process
a
organizations
its
changing
strategic
goals
of
fit
and
marketing
three planning
activities:
1. Defining the corporate /division mission.
2. Setting company objectives and goals.
3. Designing the business portfolio.
purpose
what
it
wants
to
Market-oriented
mission
statement:
its
mission
into
detailed
supporting
objectives
for
each
level of management.
Each manager should
have objectives and be
responsible for reaching
them.
At
the
business
unit
level,
each
At
the
functional
level,
the
marketing
value
chain
and
with
other
the
customer,
as
well
as
partnering
carry
out
value-creating
activities
to
Once
it
fully
understands
consumers
and
the
marketing
strategy.
To
design
of
customers
into
homogenous
sub-set
of
Market
Targeting
evaluating
each
Involves
segments
more
according
segments
to
to
enter
organizational
common
needs
or
D i ff
e r e n t i a t i o n
Differentiation is
the
act
of
designing a set
of
meaningful
differences
to
distinguish
the
company's
offering
competitor's
offerings.
from
Positioning
is
the
act
of
Value
Proposition
Segmentation, Targeting,
Positioning STP: The Essence of
Strategic Marketing
and
promotionthat
the
firm
Product
Price
Place
Promotion
2-29
2-30
2-31
Marketing Analysis
Strengths include internal capabilities,
resources, and positive situational factors
that may help to serve company
customers and achieve company
objectives
Weaknesses include internal limitations
and negative situational factors that may
interfere with company performance
Market Planning
Executive summary
Current marketing situation
Threats and opportunities
Objective and issues
Action programs / Strategies & Tactics
Budgets
Controls
Functional
Geographic
Product
Market or customer management
functions
specialist
Sales manager
headed
by
functional
the
country
or
internationally.
Managers
are
Operating control
Strategic control
2-45
Marketing audit
Marketing audit is a comprehensive,
systematic, independent, and periodic
examination of a companys
environment, objectives, strategies, and
activities to determine problem areas and
opportunities
the
marketing
investment.
Marketing
ROI
Customer acquisition
Customer retention
Customer lifetime value