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Managing the Marketing Effort
Transcript of Managing the Marketing Effort
Managing the Marketing Effort
The company wants to design and put into action the marketing mix that will best achieve its objectives in Target Markets.
External Environmental Analysis
Opportunity And Threat Analysis
The business manager knows the parts of the environment to monitor if the business is to achieve its goals.
In general, a busness unit has to monitor key MACROENVIRONMENTAL FORCES (demographic-economic, technological, political-legal d social-cultural and siginificant MICROENVIRONMENTAL FORCES (customers, competitors,distribution channels, and supplies) that will affect its ability to earn profits in the market place.
Marketing Opportunity: an area of need that a company can perform profitably.
Marketing Threats: A challenge posed ny unfavorable trends or developments that would lead.absence of defensive marketing action, to sales or profit deterioration.
Internal Environent Analysis
Strengths And Weaknesses Analysis
The marketer should conduct a SWOT analysis, by which it evaluates the company's overall Strengths, Weaknesses, Oppurtunities, and Threats.
Develops company strategic plans
then translates them into marketing and other plans for each division, product, and brand.
Turns the plans into actions.
Are favorable factors or trends in the external environment that the company may be able to exploit to its advantage.
Internal limitations and negative situational factors that may interfere with a company's ability to achieve its objectives.
Are unfavorable external factors or trends that may present challenges to performance.
Opportunities can be listed and classified according to their attractiveness and the success profitability.
Success profitability depends on whether its business strenghts match the key success requirements for operating in the target market and exceed those of competitors.
The best performing company will be the one that can generate the greatest customer value and sustain it over time.
Based on Jim Harvey's speech structures
Marketing process requires the four marketing managent functions
Measuring and evaluating the results of marketing activites and taking corrective action where needed.
Internal capabilities,resources, and positive situational factors that may help a company to serve its customers and achieve its objectives.
provides information and evaluations needed for all of the other marketing activities.
Discern attractive opportunities in the environment and another to have the necessary competencies to succeed with these opportunities.
Businesses need to evaluate its strengths and weaknesses periodically.
Should limit itself to those opportunities for which it now possesses the required strengths or should consider better opportunities?
1. An ideal business is high in major opportunities and low in major threats.
2. A speculative business is high in both major opportunities and threats.
3. A major business is low in major opportunities and threats.
4. A troubled business is low in opportunities and high in threats.
Four outcomes possible:
END OF MY PRESENTATION :)