Professional Documents
Culture Documents
Existing Markets
Market Penetration Increasing sales of current products to current market segments without changing the product. Market Development Identifying and developing new market segments for current products.
New Markets
Diversification Starting up or acquiring businesses outside the companys current products and markets.
Changing a corporate culture is often the key to successfully implementing a new strategy Nokia....................:Culture of innovation at all levels
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A distinct mission and specific target market Control over their resources Their own competitors Plans independent of other SBUs
Chapter 2 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson
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SubNotebooks and Hand-Held Computer STAR Laptop and Personal Computers CASH COW
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LOW
HIGH
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t Pi o r n o a d l u E c C x t cu L e s e lt l a o e d mn
Marketing Objectives
Marketing Objectives Must Be: Marketing Objectives Must Be:
Our objective is to increase market share by 40% and to obtain customer satisfaction ratings of at least 90% in 2008.
Communicate marketing management philosophies Provide direction Serve as motivators Clarify thinking Provide basis for control
Chapter 2 Marketing 7e Lamb Hair McDaniel 2004 South-Western/Thomson
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Elements of a Marketing Plan Executive Summary Current Marketing Situation Threats and Opportunities Objectives and Issues Marketing Strategy Action Programs Budgets Controls
Marketing Mix
Product Promotion Distributi on (Place) Price
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Know your enemy, know yourself, and your victory will not be threatened. Know the terrain, know the weather, and your victory will be complete.