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1、MARKETING STRATEGYAgendaReview of Hierarchy of ObjectivesCommon Elements of ObjectivesThe Process of Marketing Strategy Development BIO-BREAKThe Evaluation of OpportunitiesTarget Market SelectionThe Structure of Marketing Mix StrategiesBIO-BREAKGeneric Marketing StrategiesProduct StrategiesMarket Po
2、sition StrategiesHierarchy of goals and objectivesOrganizational Goals and ObjectivesMarketing Goals and ObjectivesMarketing Mix Goals and ObjectivesMarketing Mix Element Goals and ObjectivesWhat business are you in?Mission statementStatement of marketing strategyIndicates product, market scopeShows
3、 growth factorShows differential advantageShows management orientationElements of ObjeclivesAn effectBenchmark + effect = Desired OutcomeEffect has to be measureableShould be realisticTimeframe for evaluationEvaluation and effect should be relatedMarketing Strategy DevelopmentRecog riize and evaluat
4、e an opport unityMarket size and potentialKey competitorsChoose target marketDevelop Objectives for each opport unityDevelop Marketi ng Mix Strategy for each opport unityChoose Marketing mix elementsOpport unity Evaluati onReview of the Rule of 3Review of Requirements for Market SizeReview of Releva
5、 nt Competitive SetTarget Market Selec廿onIntroduction to Market SegmentationReview of the Strategic OptionsEquivale nt Behaviors as the Critical VariableStructure of Marketing Mix StrategiesAre all Mix elements equally important?Product as the keyExample using Product Life CycleMarketing StrategyGen
6、 eric Marketi ng StrategiesCost LeadershipLower costs of production and distributionProduct DifferentiationUnique product or bra ndFocusFocus on customer needs in a few segmentsMarketing StrategyProduct StrategiesProduct Mix StrategiesMarket penetration versus market skimmingQualityPieniiumGoodsPene
7、trationSuper BargainOvei- PiicmgAverage QualityBaigainHit and RunShoddy GoodsCheap GoodsHighMediumLowHigh Medium LowPriceProduct StrategiesBoston Consulting Group Strategy:Relative Market ShareMarket Growth RateProblems with BCG ApproachDifficult to estimate relative market share in rapidly growing
8、marketsMarketing StrategyBCG Matrix:22%Stars Some cash use Futuie cash cow?High cash use ? Is to build or notCash Cows DogsGenerate cash foiLow or no cash use?, StarsWhen to divestMarket Growth 10% RatelOx.lx1.5xRelative Market Share(log scale)Market Position StrategiesMarket Follower StrategiesCons
9、cious ParallelismSimilar products, pricesAvoid unprofitable segmentsMarket NicheSpecialize in a very small group of customersConcentrated segmentation strategyMarket Position StrategiesMarket Leader StrategiesIncrease Size of Total MarketProduct-Market Growth StrategiesProtect Market ShareFortificat
10、ionAssortment of brands, sizesInno vationBest defense is a good offenseCounteroffensiveIn crease Market ShareBCGAntitrust constraintsMarket Position StrategiesMarket Challenger StrategiesFrontal AttackOut-innovate leaderTough to do, easier to defendFlanking/Bypass AttackAttack where leader is not lo
11、okingFind a new market segmentPrice Discount StrategyBuyers are sensitive to priceWorks if leader does not cut priceCheaper Goods StrategyLower quality but much lower priceVulnerable to still cheaper goodsPrestige Goods StrategyIn crease both quality and priceMarket Challenger Strategies (cont.) Che
12、aper Goods StrategyLower quality but much lower price Vulnerable to still cheaper goodsPrestige Goods StrategyIn crease both quality and priceMarketing StrategyEncHclementFlanking DefensePreemptive DefenseAttacked(smaller)FrontalAttackCountei offensiveGiieiilla AttackFlank AttackBypassDefender(bigger)PositionDefenseContractionDefenseMobile Defense*Marketing StrategyNext timeMARKETING STRATEGY CASEF
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