MARKETING MANAGEMENT

Marketing process

Definition Process by which individuals and groups obtain

what they need and want through creating and exchanging products and value with others is termed as marketing process.

The marketing process consists of four steps: 1. Analyzing market opportunities; 2. Developing marketing strategies; 3. Planning marketing programs, which entails choosing the marketing mix (the four Ps of product, price, place, and promotion); and 4. Organizing, implementing, and controlling the marketing effort.

First step of the marketing process is analyzing market opportunities and availing these opportunities to satisfy the customer’s requirements to have competitive advantage.

Example: Sony

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As with most management models, the clue is in the name. S = Strengths W = Weaknesses O = Opportunities T = Threats

An evaluation of an organization’s strengths and weaknesses in relation to environmental opportunities and threats is generally referred to as a SWOT analysis.

SWOT Matrix Explained All the best management models have four quadrants, and the SWOT matrix is no exception. Each of the four quadrants is used to analyze where you are now, where you want to be, and then make an action plan to get there.

SWOT

The SWOT MatrixStrength

GOOD NOW

Maintain, Build, Leverage

Weakness

BAD NOW

Remedy, Stop

Opportunity

GOOD FUTURE

Prioritize, Optimize

Threat

BAD FUTURE

Counter

Strategic Intent

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The purpose the organization strives for.

An obsession with an organisation. An obsession with having ambitions that may even be out of out of proportion to their resources and capabilities.

CONCEPT OF STRETCH, LEVERAGE & FIT

Stretch is a misfit between resources and aspirations

Leverage refers to concentrating, accumulating , complementing, conserving and recovering resources in such a manner that a meager resource can be stretched to meet the aspirations that an organizations dare to have.

Fit means positioning the firm by matching its organizational resources to its environment.

Under Fit the strategic intent would seem to be more realistic whereas under stretch & leverage it could be idealistic.

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Business DefinitionWhat is our Business?

What will it be?

What should it be?Customer Function

(What)

Alternative Technologies (How)

Customer Group(Who)