Marketing Strategy with Segmentation and Positioning

Résumé du document

In these documents we will explain how to define a marketing strategy with Segmentation and Positioning. We will see what are attractive opportunities. Then, we will explain the Marketing Strategy Planning Process.

Extraits

[...] Marketing Strategy Planning Process What Are Attractive Opportunities? Marketing strategy planning tries to match opportunities to the firm's resources (what it can do) and its objectives (what top management wants to do). Successful strategies get their start when a creative manager spots an attractive market opportunity. Yet, an opportunity that is attractive for one firm may not be attractive for another. Richard RENARD August 2007 What Are Attractive Opportunities? Breakthrough opportunities are best Opportunities that help innovators develop hard-tocopy marketing strategies that will be very profitable for a long time. [...]

[...] The process starts with a broad look at a market paying special attention to customer needs, the firm's objectives and resources, and competitors. This helps to identify new and unique opportunities that might be overlooked if the focus is narrowed too quickly. We can organize the many marketing mix decisions in terms of the four Ps (Product, Place, Promotion, and Price). Richard RENARD August 2007 Marketing Strategy Planning Process Segmentation helps pinpoint the target A key objective of marketing is to satisfy the needs of some group of customers that the firm serves. [...]

[...] Of course, finding the best differentiation requires that we understand competitors as well as customers. Richard RENARD August 2007 Marketing Strategy Planning Process Differentiation Sometimes the difference is based mainly on one important element of the marketing mix: an improved product or faster delivery. Differentiation is more obvious to target customers, though, when there is a consistent theme integrated across the four Ps decision areas. That emphasizes the difference so target customers will think of the firm as being in a unique position to meet their needs. [...]

[...] These can be compared with the pros and cons of different strategies that are considered. Marketing Strategy Planning Process Conclusion The discussion above makes it clear that finding attractive target markets is a crucial aspect of the marketing strategy planning process. But how do you identify a target market and decide if it offers good opportunities? In the rest of this presentation, we will begin to answer these questions. Opportunities that involve international markets present some special challenges, so we'll give them some special attention. [...]

[...] However, developing a set of specific qualitative and quantitative screening criteria can help a manager define what business and markets the firm wants to compete in. It can also help eliminate potential strategies that are not well suited for the firm. Richard RENARD August 2007 Marketing Strategy Planning Process S.W.O.T. analysis highlights advantages and disadvantages A useful aid for identifying relevant screening criteria and for zeroing in on a feasible strategy is S.W.O.T. analysis—which identifies and lists the firm's strengths and weaknesses and its opportunities and threats. [...]