Strategic Marketing Management Process

Strategic Marketing Management Process

1. Organization defined: Mission Statement
2. Specify Organizational Goals and Marketing Objectives
3. Analyze the Situation:
a. SWOT (strengths/weaknesses/opportunities/threats)
b. BCG matrix (star, cash cow, dog, question mark/problem child)

c. Porter’s (1979) five forces model- threat of new entrants, bargaining power of
customers, bargaining power of suppliers, threat of substitute products and services,
jockeying among current contestants.
4. Develop Strategy:
a. market segmentation, target marketing, positioning (STP)
b. Ansoff’s growth vectors: product-market expansion grid

c. competitive advantage: overall cost leadership, diversification, niche or focus (Porter
1980)
d. value: operational excellence/best price, product leadership/innovation, customer
intimacy/service
5. Develop Tactics (4 P’s of the marketing mix: product, place, price, promotion)
6. Implement Plan
7. Monitor and Control (cyclical process that loops back to Step 1 or other steps)

Marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large. (AMA definition: Approved 2017)

Marketing Orientation
1. focus on/serve customers’ needs
2. address competition
3. integrate marketing functions throughout the entire organization and share responsibilities
4. seek long term profitability

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