Relationship with Selling and Marketing
Selling is an aspect of marketing.
Fire versus Ready, Aim and Fire
Marketing Mix, also known as the Four Ps
- Place (Distribution)
Organizations select target markets within the entire marketplace using market segmentation. They then develop a marketing mix to reach the target market.
Discussion Topic: Identify the marketing mix for a product you use.
4 Cs: Company, Collaborators, Competition, Customers
Evaluation and Budgets
Discussion Topic: Identify a recent marketing campaign designed to create negative demand.
American Marketing Association
SBA: The Marketing Plan
Strategic Planning Process
- Corporate Level
- Business Level
- Product Level
Higher levels (corporate) govern lower level planning processes. Strategic planning requires:
Corporate Strategic Planning
- Identify the company’s Mission
- Identify SBUs (customer focused)
- Allocate Resources across SBUs (BCG Model; GE Model; Product Life Cycle; systems)
- Growth Strategies for SBUs (intensive; integrative; diversification)
Mission Statement: Purpose; Business; Values Reason to be? Invisible hand etc.
Market Terms…keep in touch with consumer’s needs
From five years ago, and still relevant:
- AT&T is in the communications business not the telephone business.
- Visa…allows customers to exchange values…not credit cards
- 3M solves problems by putting innovation to work.
Example Mission Statements:
- Ben & Jerry’s
- New York State Education’s Mission
Discussion Topic: Find your company’s mission statement. How well is this statement understood among employees and customers? Evaluate the missions statements above with respect to purpose, business and values.
Identify the limiting factors with the BCG and GE models.
Insead Wharton Alliance.
Discussion Topic: Cite examples of strategic alliances. Identify alliances your company participates and why.