Card Set Information
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.
a written document that acts as a guidebook of marketing activities for the marketing manager
asks what is our business? who is the customer? what do customers value? what should our business be?
: neither too narrow or too broad, fitting the market environment, based on distinctive competencies, motivating.
Marketing objectives (4)
-realistic, measurable, time specific, consistent with and indicate the organizations priorities.
-is a goal and should be challenging
Internal- Strength, weaknesses
increase market share among existing customers
attract new customers to existing products
create new products for present markets
introduce new products into new markets
present product new product
mkt penetration product develpmnt
mkt development diversification
Target Market Strategy
-segment market based on groups with similar characteristics
-analyze market based on attractiveness of market segments
-select one or more target markets
Marketing mix (4 p's)
-includes controllable and tactical marketing tools: product, place, promotion, price
Following up Marketing Plan (3)