The marketing strategy process

Ex. 1. Learn the pronunciation of the following words:

objective [ ] array [ ]

strategy [ ] target [ ]

resourсe [ ] unique [ ]

analysis [ ] service [ ] success [ ] similar [ ] required [ ] through [ ]

consequently [ ] warranty [ ]

environment [ ] execute [ ]

variable [ ] conclusion [ ]

variety [ ] purpose [ ]

Ex. 2. Read and translate the text:

The marketing strategy process

A marketing strategy is a plan for the best use of an organization's resources to reach its objectives. Themarketing strategy process involves the series of steps the organization takes to interface with the rest of the world.

Steps in the marketing strategy process:

situation analysis targeting positioning development of the

marketing mix

Situation analysis includes all the marketing activities required to understand the global marketing environment, the customer's needs and wants, and the competition. It predicts future marketing conditions for the period covered by the strategic marketing plan.

Markets usually have many types of potential customers with many different needs and wants. It is impractical to attempt to satisfy all customers. Consequently, leading marketers divide customers into groups with similar characteristics. They then select one or several unique groups to address. A target market is a group of potential customers with similar characteristics that the company tries to satisfy better than the competition. The first decision that a customers – driven company makes is to choose its target markers.

One of the most useful concepts to help integrate marketing decisions is positioning. Positioning is the process of creating an image, reputation, or perception of the company or its goods and/or services in the consumer's mind. Positioning is accomplished by creating and adjusting the product, price variables so that consumers can recognize the distinctiveness of a company or its product. Potential buyers can then better determine the degree to which a product fits their desires. It is this distinctiveness that supports positioning.

Once the market is selected, marketing mix decisions have to be made. A firm's marketing mix is the combination of the product, the price of the product, the means for its distribution (place) and the promotion of the product to reach a firm's target market.

Product strategy includes decisions about which product to develop, its design, brand name, packaging, warranties, etc.

The objective of place strategy is to serve customers by providing products where and when they are needed, in the proper quantities, with greatest appeal, and at the lowest possible cost. The first task is to determine which distribution channels to use. A distribution channel is a set of independent organizations that make a good or service available for purchase by consumers or business. Some companies sell directly, while others use longer channels with more members.

Place decisions also involve physical distribution, which is the movement of products through the channels to consumers. To make movement efficient, companies need order entry systems, transportation, and shipping and inventory storage capacity.

Finally, companies need to manage their interface with customers. Two basic ways are retailing and direct marketing. Retailing involves selling products directly to end users, often in retail outlets such as McDonald's. Direct marketing uses an array of non-store methods of connecting with customers. Marketing via telephone is one of the traditional direct marketing approaches. Today direct marketers use some type of "new media", such as on – line services, the world Wide, fax and CD-Rom.

Promotion strategy involves communicating with customers in a variety of ways. Marketers develop integrated marketing communications (IMC) by coordinating advertising, sales promotion, personal selling and public relations, including publicity and word-of-mouth, to get consistent messages to all types of customers. These messages provide information necessary for the choice process. Promotion also increases demand for products, describes unique product characteristics.

Price strategy affects nearly every part of business. The objective is to set prices to reflect the value received by customers and to achieve the volume and profit required by the organization.

In the conclusion we can define the process of marketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. While the definition of marketing summarizes what marketers do, the marketing concept (philosophy) provides the underlying purpose. Marketing concept holds that the purpose of marketing is to identify the needs and wants of customers and satisfy them in ways that ensure the long-run success of the organization.

Ex. 3. Fill in the gaps with the words from the text:

1. A marketing strategy is a plan for the best use of an organization's resources

to reach its ….

2. Situation analysis includes all the marketing activities required to understand

the global marketing ….

3. Marketers … one or several unique groups to address.

4. A … market is a group of potential customers with similar ….

5. Positioning creates an image and … of the company.

6. It is the … that supports positioning.

7. Once the target market is selected, marketing … decisions have to be made.

8. … strategy includes decisions about which product to develop.

9. The first task is to determine which … channels to use.

10. Companies need to manage their … with customers.

11. … involves selling products directly to end user.

12. Promotion strategy involves … with customers in a variety of ways.

13. Promotion also increases … for product, describes unique product ….

14. Price reflects the … received by customers and aims to achieve the volume

and … required by the organization.

15. The marketing … process involves the series of … the organization takes...

with the rest of the world.

Дата добавления: 2015-11-14