Marketing Strategy Flashcards
1
Q
Develop a Marketing Strategy (Steps)
A
Perform a Situational Analysis
Set Marketing Objectives
Develop Marketing Strategies
Implement and Control the Marketing Plan
2
Q
Elements of Situational Analysis
A
Product Situation Competitive Situation Distribution Situation Environmental Factors Internal Environment
3
Q
Seven Guidelines to Setting Marketing Objectives
A
Embrace Multiple Marketing Objectives/Objective Types Be Specific Be Decisive Set Up Accountability Structure Tie Strategy to Objectives Don't Confuse Tactics with Objectives Be Flexible/Embrace Creativity
4
Q
Components of the Marketing Plan
A
Executive Summary Corporate Strategy Macro/Micro Analysis Marketing Objectives Marketing Strategies Implementation Plan Monitoring and Control
5
Q
Overall Cost Leadershp
A
Low production and distribution costs to out price competitors
6
Q
Differentiation
A
Achieving superior performance in an important customer benefit area
7
Q
Focus
A
Narrow segmentation
