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Strategic Marketing Process

Strategic Marketing Process

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Published by: robert1966phd on May 17, 2010
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10/24/2010

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STRATEGIC MARKETING PROCESS
Characteristics of most product-markets:
* mature products* large number of competing offerings* highly competitive
search for CompAdv* constant new product introductions – highproduct failure rate
new competitors* zero-sum game
cannibalization* multi-product companies
trade-offs among* frequent corporate mergers
to achieveefficiencies & synergies* new and changing consumer demands:- greater convenience- eating-on-the-go culture- healthier food- health concerns – diabetes, heart disease,cancer, obesity
 
 
TWO KEY MARKETING CONTRIBUTIONS TOSTRTATEGIC MANAGEMENT
1. Find WHAT WORKS
to achieve CompAd2. How best to ALLOCATE scarce resources
WHAT WORKS: What enhances BizPerformanceSearch for the best tools & techniques:
- supply chain management- CRM – customer relations management- use of technology
Intranet, EDI, etc
RESEARCH: WHAT REALLY MATTERS &WHAT REALLY WORKS
Back to the basics:1. Strategy2. Execution3. Culture4. Structure
 
 
1. STRATEGY:
DEVISE AND MAINTAIN ACLEARLY STATED, FOCUSED STRATEGYCostco Wholesale BEATS Sam’s Club: HOW?
Strategy:
sell a limited selection of branded high-endmerchandise at low prices
Results:
- 60% of SC stores BUT 2X the sales revenue- attracts largest % of affluent shoppers
2. EXECUTION:
FLAWLESS OPERATIONALEXECUTIONToyota: design & mfg of autosStrategy: Kaizen (continuous improvement)Results: halved the design
showroom time

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