Post on 02-Jan-2016
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McGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All Rights Reserved.
Developing Marketing Strategy
Chapter 07
7-3
A Successful Strategy:
Enhances coordination among functional areas of organization
Defines resource allocation Leads to a superior market position
7-4
Elements Of Strategy
The objective(s) to be attained Strategic alternative(s) Customer targets Competitor targets The core strategy Marketing mix support Functional programs support
7-6
Characteristics of good objectives
Should have quantified standards of performance
Should be ambitious enough to be challenging, but not unrealistic
Should have a time frame within which to achieve the objectives
7-10
Key Considerations for Selecting a Customer Target
Size/growth of the segment Opportunities for obtaining
competitive advantage Resources available
7-12
Positioning Decision Steps
Identifying alternative positioning themes Screening alternatives according to
whether they are meaningful to and believable by customers feasible given the firm and product resources competitively sensible helpful for meeting the product objective
7-13
Positioning Decision Steps (Contd.)
Selecting the position that best satisfies these criteria
Implementing programs consistent with the product position selected
7-15
Five areas for differentiation
Quality Status and image Branding Convenience and service Distribution
7-20
Ten guidelines for building strong brands
Brand identity Value proposition Brand position Execution Consistency over time Brand system Brand leverage Tracking Brand responsibility Invest
7-22
Basic customer strategies
Customer acquisition Customer retention Customer expansion Customer deletion