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PRINCIPLES OF MARKETING Week 6-7
PRINCIPLES OF MARKETING Week 6-7
OBJECTIVES:
K: Distinguish between strategic planning and tactical marketing;
S: Discuss strategic marketing and tactical marketing influenced
marketing decisions and;
A: Shows interest in how strategic marketing and tactical marketing
are implemented.
2 Presentation title 20XX
“ Strategic Marketing
is defined as the general plan of action
with the company’s vision
and goals.
3 Presentation title
”
20XX
Strategic
Marketing
Process
Marketing
Strategic Marketing Process
1
Strategic
Marketing Diagram
Process
Mission Objective Setting Strategy Evaluation
Identification And Control
(SMART)
Objective Setting These enable a company to
control its marketing plan and
provide a consistent focus for all
functions of an organization.
These objectives include sales
revenue, market share, and
profits. They are used as the
basis for strategy selection and
development.
Strategic Marketing Process
2 2023
title
Strategic
Marketing Diagram
Process
Mission Objective Setting Strategy Evaluation
Identification And Control
Marketing Strategy
Development This development of a marketing
strategy involves market
segmentation, identification of
target market, positioning,
selection of board marketing
strategies, and the translation of
strategies into action plans.
Marketing Strategy
Development
Strategies can be broadly
classified into 3 categories:
COST LEADERSHIP
DIFFERENTIATION
FOCUSED
DIFFERENTIATION– seeks to
achieve superior product
attributes and features that are
difference from industry
competitors. This results in
pronounced consumer preference
for the company’s products.
Strategic Marketing Process
2 2023
title
Strategic Marketing Process
1. Forward integration
This involves gaining ownership or
increased control over the distribution of
retailers.
2. Backward integration
This involves gaining ownership or increased
in control over supplies.
3. Horizontal integration
Strategic Marketing Process
2
title
This involves the purchase of or increased 2023
Strategic Marketing Process
5. Market Development
This strategy involves the introduction of
existing products or services into a new
2
Strategic Marketing Process
title geographical area or market. 2023
Strategic Marketing Process
Strategy Evaluation
And Control
After the strategy is developed,
periodic monitoring and
evaluation are needed. This is
necessary to identify deviations
and make necessary adjustments
and corrections.
”
covering a shorter period.
RESPONSIBI
ACTIVITY LITY ACTIVITY
TIMETABLES ACOUNTABI BUDGETS
LITY
MONITORIN
G AND
CONTROL
Diagram of Tactical Marketing
In writing the marketing plan, one should indicate the marketing tactics needed to achieve the
marketing strategy. These tactics must cover the factors that address consumer needs and
wants: product, price promotion place, people, process, and physical evidence