Marketing
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Marketing
WEEK 4
Marketing Strategy and Analysis
INTRODUCTION TO STRATEGY
* Strategic decisions are actioned to meet specific objections which will affect the long term direction of the organisation.
* Characteristics of strategic decisions involves: achieving advantages for the organisation, matching the activities of an organisation to the environment in which it operates, building or stretching an organisations resources and overall affects operational decisions.
STRATEGIC ROLE OF MARKETING
* Marketing is an operation function that creates products and services and then devises strategies for PRICING, PROMOTION and DISTRIBUTION. It should satisfy the customers need to make a profit.
* SCOPE OF ACTIVITIES: the impact on the whole organization.
* ENVIRONMENT: Threats in the environment (customers, clients, competitors)
* RESOURCES: Choices now and in the future obtaining corporate resource
* VALUE: The value systems of people who have influences on strategies.
* COMPLEXITY: Uncertainy about the future, integrating the operations of the organization and change.
(REFER TO WEEK 2)It
IMPORTANCE OF BRANDING/STRATEGIES/ADVANTAGES
* brands have longer life cycles than product and they determine the value of the product range; they allow are premium price to be charged
* LINE EXTENSIONS: Is the existing name applied to new sizes or flavours but in the same category, the advantages are: spread costs of brand support across more sales, helps stop brand becoming obsolete or knocked out of appearance of a sub segment.
* BRAND EXTENSIONS: Is the existing brand to launch a product in a new category, the advantages are: recognition and early acceptance of the product and has a lower launch advertising cost.
* MULTI BRANDS: Is additional brands for the same product category, the advantages are: access sub-segments with different price points or buying motives, protect major brand and provides a barrier to entry by...
WEEK 4
Marketing Strategy and Analysis
INTRODUCTION TO STRATEGY
* Strategic decisions are actioned to meet specific objections which will affect the long term direction of the organisation.
* Characteristics of strategic decisions involves: achieving advantages for the organisation, matching the activities of an organisation to the environment in which it operates, building or stretching an organisations resources and overall affects operational decisions.
STRATEGIC ROLE OF MARKETING
* Marketing is an operation function that creates products and services and then devises strategies for PRICING, PROMOTION and DISTRIBUTION. It should satisfy the customers need to make a profit.
* SCOPE OF ACTIVITIES: the impact on the whole organization.
* ENVIRONMENT: Threats in the environment (customers, clients, competitors)
* RESOURCES: Choices now and in the future obtaining corporate resource
* VALUE: The value systems of people who have influences on strategies.
* COMPLEXITY: Uncertainy about the future, integrating the operations of the organization and change.
(REFER TO WEEK 2)It
IMPORTANCE OF BRANDING/STRATEGIES/ADVANTAGES
* brands have longer life cycles than product and they determine the value of the product range; they allow are premium price to be charged
* LINE EXTENSIONS: Is the existing name applied to new sizes or flavours but in the same category, the advantages are: spread costs of brand support across more sales, helps stop brand becoming obsolete or knocked out of appearance of a sub segment.
* BRAND EXTENSIONS: Is the existing brand to launch a product in a new category, the advantages are: recognition and early acceptance of the product and has a lower launch advertising cost.
* MULTI BRANDS: Is additional brands for the same product category, the advantages are: access sub-segments with different price points or buying motives, protect major brand and provides a barrier to entry by...