MY UBIS-CLASS

Message from Anh Tho Andres

Anh Tho Andres is a professor in Marketing and Communication at UBIS University based in Geneva, Switzerland.

As a multilingual Translator and Interpreter, and Lecturer in Communication, Anh Tho understands the challenges faced by Professionals in a globalized Corporate World.

Working on her DBA Degree at Paris-Est University (France), Anh Tho Andres is authoring a series of articles on Intercultural communication. She is also working on a series of glossaries in English-French-and Vietnamese on Management subjects. Contact: anhtho.andres@gmail.com for further details.

On this blog, Anh Tho is sharing with students and colleagues her research findings as support material to her ON-GROUND and ONLINE classes.


Principles of Marketing (week I) - Part II

Marketing Strategy Planning p 30

Objectives

  • Understand what a marketing manager does
  • Know what marketing strategy planning is - and why it is the focus of this book
  • Undertand target marketing
  • Be familiar with the 4P's in a marketing mix
  • Know the difference between a marketing strategy, a marketing plan, and a marketing program
  • Understand what customer equity is and why marketing strategy planners seek to increase it
  • Be familiar with the text's framework for marketing strategy planning - and why it involves a process of narrowing down from broad opportunities to the most attractive marketing strategy
  • Know four broad types of marketing opportunities that help in identifying new stategies
  • Understand why strategies for opportunities in itnernational markets should be considered
  • Understand the important new terms (see list below)

What is a Marketing Strategy p33
A marketing strategy specifies a target market and a related marketing mix. 2 interrelated parts:

  • A target market
  • A marketing mix

Selecting a Market-Oriented Strategy is Target Marketing p34

  • Target marketing: marketing mix tailored to fit some specific target customers. Target marketing can mean big markets and profits.
  • Mass marketing (typical production-oriented approach) assumes that everyone is the same and considers everyone to be a potential customer. Not to be confused with Mass Marketers which aim at clearly define target markets (ex. Kraft Foods-Wall Mart).

Developing Marketing Mixes for Target markets p35

  • Marketing mix: the 4Ps - Product, Place, Promotion, Price
    • Product: The good or service for the target's needs
    • Place: Reaching the target (channel of distribution: direct-wholesalers-retailers-logistics)
    • Promotion: telling and selling the customer. Personal selling, mass selling, sales promotion. Customer service (good for repeat business). Mass selling (advertising-publicity). Sales promotion (coupons, point-of sale, materials, samples, signs, contests, events, catalos, novelties, and cirulars)
    • Price: make it right

The Marketing Plan is a Guide to Implementation and Control p41
The Marketing Program Should Build Customer Equity p43
The Importance of Marketing Strategy Planning p45
Creative Strategy Planning Needed for Survival p46
What are Attractive Opportunities p47
Marketing Strategy Planning Process Highlights Opportunities p49
Type of Opportunities to Pursur p51
Internationa Opportunities should be considered p53
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