UnderstandingMarketingManagement
2DevelopingMarketingStrategiesandPlans2?PearsonEducationLtd.2018.Allrightsreserved
2.1 Howdoesmarketingaffectcustomervalue?2.2 Howisstrategicplanningcarriedoutatdifferentlevelsoftheorganization?2.3 Whatdoesamarketingplaninclude?LearningIssuesforChapterTwo3?PearsonEducationLtd.2018.Allrightsreserved
KeyInsightsoftheChapterKeyingredientsofthemarketingmanagementprocessareinsightful,creativestrategiesandplansthatcanguidemarketingactivities.Developingtherightmarketingstrategyovertimerequiresablendofdisciplineandflexibility.Firmsmuststicktoastrategybutalsoconstantlyimproveit.Intoday’sfast-changingmarketingworld,identifyingthebestlong-termstrategiesiscrucialbutchallenging.4?PearsonEducationLtd.2018.Allrightsreserved
MarketingandCustomerValueThetaskofanybusinessistodelivercustomervalueataprofit.Acompanycanwinonlybyfine-tuningthevaluedeliveryprocessandchoosing,providing,andcommunicatingsuperiorvalue.5?PearsonEducationLtd.2018.Allrightsreserved
TraditionalViewofMarketingThetraditionalviewofmarketingisthatthefirmmakessomethingandthensellsit.Thetraditionalviewwillnotwork,however,ineconomieswherepeoplefaceabundantchoicesNewbelief:marketingbeginswiththeplanningprocess.6?PearsonEducationLtd.2018.Allrightsreserved
Valuecreationanddeliveryconsistsofthreeparts:Choosingthevalue(segmentthemarket,selecttargetmarket,develop“offering”).Providingthevalue(productfeatures,prices,anddistributionchannels).Communicatingthevalue(salesforce,internet,advertising,andcommunicationtools).7?PearsonEducationLtd.2018.Allrightsreserved
TheValueChain(Porter)MichaelPorter’sValueChainidentifiesninestrategicallyrelevantactivitiesthatcreatevalueandcostsinaspecificbusiness(fiveprimaryandfoursupportactivities).Theprimar
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