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chapter 2

chapter 2. Strategic Marketing Management. Objectives. To recognize the interacting components of the marketing management process To appreciate the core elements of market analysis, product concept, and product position

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chapter 2

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  1. chapter2 Strategic Marketing Management

  2. Objectives • To recognize the interacting components of the marketing management process • To appreciate the core elements of market analysis, product concept, and product position • To understand the distinctions among the five Ps of sport marketing: product, price, place, promotion, and public relations

  3. Five Strategic Components of Marketing Management 1. Visualize and position the organization vis-à-vis the market. 2. Clarify your goals and objectives. 3. Develop a marketing plan. 4. Integrate the marketing plan into a broader strategic allocation of resources that ensure success. 5. Control and evaluate the plan's implementation.

  4. The Marketing Management Process in Sport

  5. Strategic Step 1: Visualize and Position the Organization Vis-à-Vis the Market • Core vision and ideology • The SWOT analysis • Marketing information systems

  6. SWOT Analysis • Organizational strength • Organizational weakness • External or environmental opportunities • External or environmental threats

  7. Strategic Step 2: Clarify Your Goals and Objectives • The development and reassessment of goals and objectives should emanate from ongoing analysis. • Clarifying goals and objectives is what sets the manager apart from the caretaker.

  8. Strategic Step 3: Develop a Marketing Plan • Market segmentation and determining key targets • Demographic information • Geomarket information • Psychographic information • Product usage rate • Product benefits • Market development using the escalator concept • Product development and positioning • The five Ps in the sport marketing mix

  9. The Escalator Concept

  10. The Five Ps: 1. Product 2. Price 3. Promotion 4. Public relations 5. Place

  11. Strategic Step 4: Integrate the Marketing Plan Into a Broader Strategic Allocation of Resources That Ensure Success • The marketer must ensure that more senior executives will support the plan. • Structure follows strategy. • Coordinate the five Ps with broad support from the entire organization, top to bottom. • Blend the five Ps to build packages valued by the customer.

  12. Strategic Step 5: Control and Evaluate the Plan's Implementation • Analysis, evaluation, and control should be everyday events. • Consumer satisfaction = product benefits – costs.

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