Strategic planning and segmentation

Question 1

Strategic Marketing Planning

And its goals

Answer 1

SMP: The logic (strategy/How)that matches the organization’s objectives and resources to its changing marketing opportunities within the originations financial boundaries.

goal: -Maximize revenue, maximize profit, and minimize cost( all tends to contradict) Also, Maximize return on investment(This is the ultimate compromise)

Question 2

What drives marketing:

Answer 2

: Driven by the marketing concept, because the market orientation is the prime strategic philosophy influencing:

-Mission statement(purpose for existence)Ex:PepsiCo co ‘create more smiles with every sip&every bite”

Internal strategies : Value Chain (The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.)

External strategies (Networking with government/retailers)
Growth strategies (Market penetration, market development, Market diversification)

Question 3

Budgeting for Marketing Plans/ Strategic budgeting:

Answer 3

-Behavioural: Politics of resourcing: Financing/Funding, HR/Personel, Tech/It

-Organizational: Objective/Task systeme. (Translates corporate goals to marketing objectives and budget accordingly)

-Analytical: Budget analytics/rational allocation. Forecasting rule[Direct]: (For a 10% increase, invest 30/50% more budget) Product standardization [Inidrect] Logical Prowess

Question 4

Types of SMP

Answer 4

Strategic planning: Goal: Doing the right thing Time: long term 3-5 years Focus: pan organizational

Tactical planning: Goal: Doing things right Time: Short term 1 year or less Focus: Departmental

Question 5

Strategic Marketing Management Process, step 1

Answer 5

1-Analysis of the environment and customer behavior.

SWOT: Strengths, weaknesses, opportunities, threats

BGC matrix:
A).High market growth rate and high market share: Star (Need investment)
B)High market growth rate and low market share: Question mark (Not good invest)
C)Low market growth rate and high market share: Cow (Require less invest- great)
D)Low market growth rate and Low market share: Dog )Might generate themself)

Question 6

Strategic Marketing management process, step 2:

Answer 6

planning: Developing the marketing plan for a product that is a written document capturing the logic linking the organization’s objectives of creating/offering ascertain product to its marker with its overall objects.

-Implementation: Applying the plan(Action/execution) which are vital for success to ensure ownership of the plan

• Control: Measure results, evaluate performance, take corrective action

Question 7

Segmentation:
Market Segmentation:
Levels of market segmentation:
Targeting:

Answer 7

Segmentation: Putting strategic planning to viable services.
Market Segmentation: Dividing the consumer market into smaller groups each of which share similar yet distinctive characteristics requiring differing offerings.

Levels of Market Segmentation:
-Multi-segment,
-Micro (Local. individualized),
-Niche
-(Mass/Corporate market to be segmented Vs. de-market/segment e.g. Walkman’s cassette)

Ways to segment: Geographic, demographic, psychographic, behavioral

Targeting: Evaluate and the select segments to serve: Size(Value), Attractiveness(ROI), Fit(Shoot/execute to reach objectives within your ability/resource)