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Stacy Landreth Grau, a professor of professional practice at TCU's Neeley School of Business, gave this presentation at a marketing and branding workshop for the Texas Center for Community Journalism on March 10, 2011.
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Marketing 101
Stacy Landreth Grau, Ph.D.
Strategic Planning
The managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities.
The goal is long-term profitability and growth.
Why Write a Marketing Plan? Provides a basis for comparison of actual and expected
performance
Provides clearly stated activities to work toward common goals
Serves as a reference for the success of future activities
Provides an examination of the marketing environment
Allows entry into the marketplace with awareness
Marketing Plan
ElementsMarketing Strategy
Product Distribution
Price
Marketing Mix
Business Mission Statement
Objectives
Situation or SWOT Analysis
Target Market Strategy
ImplementationEvaluation
Control
Promotion
Defining the Business Mission
Answers the question, “What business are we in?”
Focuses on the market(s) rather than the good or service
Strategic Business Units (SBUs) may also have a mission statement
Marketing Objectives
S = SPECIFIC M = MEASURABLE A = ACTIONABLE R = REALISTIC T = TIME ORIENTED
“Our objective is to achieve 10 percent dollar market share in the cat food market within 12 months of
product introduction.”
SWOT Analysis
©South-Western College Publishing
SSWWOOTT
Things the company does well.Things the company does well.
Things the company does not do well.Things the company does not do well.
Conditions in the external environment that favor strengths.
Conditions in the external environment that favor strengths.
Conditions in the external environment that do not relate to existing strengths or favor areas of current weakness.
Conditions in the external environment that do not relate to existing strengths or favor areas of current weakness.
Internal
External
Competitive Advantage
The set of unique features of a company and its products that are perceived by the target market as
significant and superior to the competition.
Niche StrategiesNiche Strategies
CostCost
Product/Service Differentiation
Product/Service Differentiation
Types of Competitive Advantage
Types of Competitive Advantage
Competitive Advantage
Product/Service Differentiation
Brand names
Strong dealer network
Product reliability
Image
Service
The provision of something that is unique and valuable to buyers beyond simply offering a lower
price than the competition’s.
Marketing Strategy
The activities of selecting and describing one or more target markets and developing and maintaining a market mix that will produce mutually satisfying
exchanges with target markets.
Target Market Strategy
Appeal to the entire market with one marketing mix
Appeal to the entire market with one marketing mix
Concentrate on one marketing segment
Concentrate on one marketing segment
Appeal to multiple marketswith multiple marketing mixes
Appeal to multiple marketswith multiple marketing mixes
Segmentation
Marketing Mix: The “Four Ps”
Price
Promotion
Place
Product
Implementation, Evaluation, and Control
Product PlacePromotionPrice
Product PlacePromotionPrice
Met objectives?
Met objectives?
Implementation Evaluation
Audits• comprehensive• systematic• independent• periodic
Audits• comprehensive• systematic• independent• periodic
External Marketing Environment
DemographicsDemographics
SocialChangeSocial
Change
EconomicConditionsEconomicConditions
Political & Legal FactorsPolitical &
Legal Factors
TechnologyTechnology
CompetitionCompetition
EnvironmentalScanning
Target Market
External Environment (uncontrollable)
Ever-ChangingMarketplace
ProductDistributionPromotion
Price
ProductDistributionPromotion
Price
Internal (within the
organization)Marketing mix
