Chapter 1: Marketing Fundamentals

1. WHAT IS MARKETING
Marketing is the process of planning and managing goods, services, ideas to meet
consumers’ needs AND organizational objectives. It includes the development of
products and the pricing, distribution, and promotion designed to make a profit
and generate revenue (or support) for an organization.
 Demand creation
2. THE ROLE OF MARKETING
- Ultimate objectives are to drive profit for company, or to generate revenue
and support fund program if working in the nonprofit sector.
- Elements: promotion, product, price and place
- Intertwined with both external and internal stakeholders.
- Principle: meeting customer needs and provide customer value
Focusing on Consumer Needs and Wants
A need occurs when a person feels deprived of necessities such as food, clothing,
and shelter.
A want is a need that is shaped by a person's knowledge, culture, and
personality.
- Research its customers to understand what they need and want, and the
force that shaped it.
- They sometimes do not know what they want or be able to describe it →
marketers might ask the wrong questions

- Digital world adds complexity to market research. It introduces new comm

platforms → challenge marketers to understand biases that may exist
- Marketers must understand the role of onl environment in customer path-
to- purchase and the need to have a solid presence on these online
destinations.
- Customers could easily be distracted.
- Compelling and unique messaging + creativity is more effective in the long
run.
→ Success: focused on customer needs and wants + development of programs that engage
and inspire customer loyalty
Create Customer Value

- Meeting needs isn’t enough-> Added value vs the competition

- Provide customer value can ensure their loyalty over time
customer value proposition conveys the unique combination of benefits received by
target consumers that will satisfy their needs. Include: quality, price, convenience,
delivery, before, after-sale service.
Creating products with added value is often achieved through a combination of (1)
product design, (2) pricing strategies, and (3) service elements.
Appealling to Target Market:

- Target market: the specific group (or segment) of existing and potential
consumers to which marketers direct their marketing efforts.
- Marketers ensure marketing mix appeals to characteristics or the target
market.
Coordinating the Marketing Mix

- 4Ps: product, price, place, promotion - controllable factors that need to be

well- coordinated and appeal to the target market.
- Need to understand consumer’s ticks, what they desire, and how to
communicate with them.
(1) Product: Attributes that make up a good, service, idea to satisfy
customers. Includes design, features, color, packaging, warranty, and
service levels
Attributes that make up a good, service or idea.
(2) Price: Exchange of product (regular/sale price)
What is exchanged for a product
(3) Place: Way which product get to consumer (distribution channels,
retail formats, and merchandise)
Where/how can a product be purchased
(4) Promotion: Tools use to communicate with consumers (ads, promo,
events, sponsor,...)
Inform buyers about a product
3. The Marketing Process:
Identifying customer needs → manage marketing mix to meet the needs → reach
potential consumers or market
This strategy then leads to an exchange
- the value that is traded between buyers and sellers so that each benefits.
- value is, in essence, what you get for what you give up.
- not always “money”
What can be Marketed

- Good: something that is tangible - touch and own

- Service: intangible stuff - massages, activity, vacation, etc…
- Idea: a concept that typically looks for support
What Is a Market?

- Market: potential consumers who have willingness and ability to buy a

product.
*Being willing to buy a product DOES NOT constitute a market.

- Target Market: Most likely to buy-aligned with the marketing mix

4. Evolution of Business Philosophies:

Features sales tactics surveys, discuss lifecycle mnt

- Production orientation (before 1930): Focused on manufacturing. Short supply.

Customer needs were not a priority.
- Sales orientation (1930s-1960s): Selling as many products as possible. Market
became more competitive, production more efficient, and products were abundant.
Consumer needs still weren’t prioritized.
- Marketing orientation: focus on the idea that organization should strive to satisfy
customer needs at the same time achieve goals.
 - Marketing evolved from short-term focus on transaction → building long term
customer relationship.
- Relationship marketing: organization tries to build links between customers,
partners, suppliers, employees for loyalty and customer retention.
CRM: Customer Relationship Management
Build and maintain profitable relationships Deliver value and satisfaction
Ex: CRM involves the occasional customer email about upcoming sales or advance notice of
new product launches
Or: customer loyalty programs that reward continued purchases and usage
- CRM programs help secure share of wallet from customers → use loyalty card to
track purchases then customize the system
- Advanced CRM considers customers lifetime value - strategy that keep customers
loyal over their lifetime

NEW AND EVOLVING MARKETING PRACTICES

Today’s marketing focus on meeting short term customer needs and generate immediate
profits + long term viability and sustainability through transparent transaction.
Digital Marketing an approach that uses tech to reach out with consumers. This includes:
Computers, electronic screens, smartphones, tablets.

- Digital technology has changed consumer behaviour, with most people use
smartphones and tablets
- Wireless services have become an integral part of Canadians’ lives with ⅓ Canadian
households rely on wireless services.
- Digital technology changed the path-to-purchase and drives consumers with info,
connection and purchases
Content Marketing
- publish blogs, investing in resources to produce unique content and paying for
content-related ads.
Mobile Marketing

- Major disruption that continues to intensify

- M-commerce is predicted to be the number one use of mobile as >80% mobile time
is dominated by app consumption (mobile payments, watch videos,...)
- Most potential future growth: branded content
- Current challenges: lack of data, measure effectiveness of the investment

Social Media Marketing

- Increase brand awareness and engage with customers.
- Social media marketing: brands reach out to consumers through social media (place
ads to increase awareness, respond to comments, etc…)
Augmented reality
AR: new tech that combines real world things with computer generated information
→ allows people to enjoy experiences that are more immersive than real world.
Experiential marketing
- Experiential marketing: approach create opportunities for consumers to directly
interact with a brand by spread their (consumers and the company) experience through
social media
- Build awareness for the brand. Brand from passive → actively interacting with target
market (pops up, etc…)
Influencer marketing
- Use influencer/celeb to promote, plays a major role in modern marketing
- Used to use major celeb → use micro influencer (fewer followers but higher
engagement)
- Influencer is in engagement rate measured by clicks, subscribes, ultimate purchased
Partnership marketing (affinity marketing)
- Create formal associations between brands that will result in incremental business
that could not be achieved separately.
- Use the idea of brands with similar customers combine marketing expertise and use
each other’s strength to build awareness among larger audience
- Strategic alliance: long term arrangements between companies with similar values
and objectives that extend short-term promotional offers to long-term agreement
(skyteam,etc…)
Metric and analytics
Collect and analyze metrics to make better decisions. Measure and track online sale,
website interaction, effectiveness of advertising campaigns, impact of social media

Chapter 2: The Marketing Environment

1. Marketing Environment

- Successful marketing programs must reach out + address changes and

opportunities in the marketplace. (adapt)
- Marketing environment: demographic forces, socio-cultural forces, economic forces,
technological forces, competitive forces, and regulatory forces
Situation (SWOT) Analysis
Where the firm or product has been recently, where it is now, and where it is headed in
terms of the organization’s marketing plans and the external forces and trends affecting it.
A situation analysis that describes an organization’s appraisal of its internal Strength -
Weakness and its external Opportunities – Threat:m
- Identify changes and trends in the industry
- Analyze the current and potential competitors
- Assess the organization itself and available resources
- Research present and prospective customers
Goal ➡️build on vital strengths, correct glaring weaknesses, exploit significant
opportunities, and avoid disaster-laden threats.
An environmental scan:
 - Process of identifying external trends, neither opportunities or threats of the
business.
- Ensure that goods, services, and ideas are relevant and meaningful in conjunction
with the external environment
- Using SWOT → used to set the future direction and lay the groundwork for
competitive marketing programs
Demographic Forces
The statistical study of populations is referred to as demographics. It looks at
characteristics of a group of people, such as gender, age, ethnicity, income, education, and
occupation.
Trends:
An Aging Population

-
In 2016, Canada has 36.2 million people with the population over the age of 65 (5.9
million) outnumbers children under 14 (5.8 million)
- Marketers take note of demographic changes and determine the needs of aging
market.=> hospital, health care, medicines, etc.
Diverse Generations: Main generational groups: baby boomers, generation X, generation
Y (millennials), generation Z
🧓Baby boomers (1946 - 1965):
+ The concept of aging but still interested in health and active self- image (act and feel
younger), well educated and culturally diverse. Known to be brand loyal customers
+ Lifestyle: have more leisure time, have to deal with health issues over time,
increasingly use digital tech to communicate and research (slower pace)
🧔‍♂️Generation X (1966 - 1980):
+ Most have children, employed, and are highly educated
+ Knowledgeable consumers, experimental with technology, like to use the same brand
rather than try new ones.
+ Remain royal once relationship is bonded → becoming a key influence in the market.
👩🏻‍🦰Generation Y or millennials (1981 - 2000):
+ Mostly children of baby boomers, is expected to become as influential as their baby
boom parents.
+ Are highly influenced by internet technology with technical products are key.
👧🏻Generation Z (2001 and above):
+ Frugal and do not buy premium brand, comparison-shop and actively critique online.
+ Less patience and expecting immediate gratification (used to social media and
technology)
 For each generation, marketers need to develop distinct marketing programs,
products, and services.
Big-City Growth
Boosted by immigration, big cities continue to grow faster that rural areas (western canada
growing more rapidly)
Concentrate in Ontario and Quebec, ⅔ close to the border, 35.5% in Toronto, Vancouver,
Montreal
Ethnic Diversity
Create an interesting array of opportunities for marketers → potential impact of
multicultural marketing strategies
World Markets

-World population reached >7.7 billion (Africa and Asia >75%)

-Major opportunities: foreign markets
Changing Household Composition

-In Canada, dominant household structure is the one-person household, not couples
with children
SOCIO-CULTURAL FORCES

- Cultural values, ideas, and attitudes, as well as society’s morals and beliefs
- Tend to be gradual, sometimes very subtle.
- Marketers monitor changes in order to capitalize on new opportunities with their
marketing program.
Device Connectivity

- Society relies on electronic communication rather than face-to-face

- People now access information about products through social networks, reviews, and
online store → Showrooming - the practice of using mobile devices to check product
reviews and price then purchase cheaper one.
- Now, customers tend to do more researches then prefer purchase at the store

Social Media

- Allow consumers to express their opinions about products, conduct research, and
contact directly with companies
- Build relationships with customers TV and Video Viewing
TV and Video Viewing:

- Cord cutters are people who decide to cancel cable or satellite TV and focus on
online viewing.
- The ability of streaming services to provide entire seasons for viewing on demand is
promoting a new form of viewing, binge watching
Attitude and Roles of Men and Women

-
There are changes in terms of attitudes and roles of men and women in the
marketplace
Large aging environment → consumer interest in maintaining and improving health
including healthy eating, exercise, holistic lifestyle. Usually influential for baby boomers.
ECONOMIC FORCES

- Economic downturn → consumer confidence wanes → delayed or cancelled

purchases of higher-priced items. Result lower household income → affect
consumers’ ability and desire to purchase.
- Country’s key economic indicators: economic growth rate, inflation rate,
unemployment rate
- Macroeconomic forces & Microeconomic force
- Macro forces (country’s economy as a whole): GDP - fairly accurate indicator,
inflation, recession, interest rate, unemployment rate
- Micro (supply/ demand and decision impact): gross income (before tax), disposable
income (thu nhập khả dụng), discretionary income(thu nhập tùy ý )

TECHNOLOGICAL FORCES

- Inventions or innovations from

scientific or engineering research
→ should be aware to prevent obsolete product (replace
existing product)
Dramatic changes: AI (sales, retail, CS),
Automation, IoT (siri),
Wearable technology

- IoT helps to predict consumer preferences and behaviour

- Canadian spend half of their time on computers → smartphones →
tablets
- Canadian use of tech: internet, e-comm, cloud-base device, privacy,
music, online videos, computers, smartphones, mobile payments

COMPETITIVE FORCES

- Alternate products that can satisfied a specific marker’s need → determine product’s
main competitor
- Large organization → purchase data from other companies; small organization →
reduce expenditure, info obtained from salesperson, suppliers, customers, retailers
- Direct competitor → any changes will be noted and detailed analyze
- Indirect competitor → same buying dollar but in slightly different category → should
not ignore
- Should have a clear understanding of the competitive nature in the industry and
factor into the environmental scan.

- Monopoly: only 1 company in the market, being monitored

- Oligopoly: a few companies control the market (Bell, Telus, Rogers)

Monopolistic Competition: large number of sellers offering similar or substitute products →

need product differentiation, value added (nike, adidas,...)

- Perfect competition: many sellers with nearly identical products but little
differentiation (vegetables, grains,...)

REGULATORY FORCES

- Protect consumers from unscrupulous business practices, set acceptable standards,

encourage fair competition
- Ensure business practices are legal; should also be ethical → avoid backlash and
negative publicity

STEPS IN AN ENVIRONMENTAL SCAN

Step 1: Collet facts and identify trends
- Gather data and info
- Conduct competitive reviews
- Cluster info into facts and trends

Step 2: Determine the impact of fact/trend on the business

- Set objectives
- Analyze external trends
Step 3: Brainstorm, evaluate, and implement ideas to meet objectives

- Brainstorm
- Evaluate and implement alternatives

Chapter 3
3. CONSUMER PURCHASE DECISION PROCESS
- Five stages: problem recognition, information search, evaluation of alternatives,
purchase decision, post-purchase behaviour
- Process based on the complexity of the decision
Problem recognition: perceiving a need
- Initial step, occurs when people realize the difference between purchasing
something is big enough to do sthg abt it (a problem could be solve by buying, etc…)
Information search: seeking value
- Internal search (frequently purchased product): recall experiences with previous
products, brands
- External search: gathering info from outside (other acquaintances, internet, etc…)
Evaluation of alternatives: assessing value
- Information-search stage: clarifies problem by suggest criteria, points to consider,
- Evaluation criteria: objective attributes of the brand, subjective ones to compare
differences
- Evoke set: group of brands that consumer consider acceptable
Purchase decision: buying value
- Three choices: chosen brand, whom to buy, when to buy
- Consumer considers different factors such as environment, benefits, persuasiveness,
sale, etc…
- Technology: accelerate the process in gathering info, evaluating alternatives, etc…
Effects of Mobile Technology on Purchase Behaviour
- Allow purchase decision to evolve by making info-search and decision stage easier
- Helps empower consumers
Post-purchase behaviour: value in consumption or use
- Company’s sensitivity to customer’s experience → affects value of customer
perceives after purchase
- Satisfaction and dissatisfaction → affects consumer communication and re- purchase
behave
- Mobile tech → spread complaints wider
- Consumer normally faced with >2 attractive alternative → important to address
consumer feeling as it impacts satisfaction and loyalty → firms use ads or follow-up to
assure buyers
Involvement and problem-solving variations
- Level of involvement of the consumer in a purchase depends on the personal, social,
economic consequences of that purchase → might skip, minimize or do more if the product
is high-involvement (computer, etc…)
-High-involvement product: expensive, bought infrequently, could reflect one’s social image
→ consumers engage extensive research, consider other choices,..
- Marketers must understand info gathering and evaluation process of consumer
Routine Problem-Solving
-Low priced, frequently purchased → spend little time to seek external into and evaluate
alternatives
- Marketers create brand relationship with the consumer → maintain habitual buying
habit
Limited Problem-Solving
- Low consumer involvement but significant perceived differences among brands
- Not because of dissatisfaction, but a desire to try sthg new → moderate amount of
time evaluating, rely on past experience rather than external info
- Marketers should focus on getting customer to shift to “routine” by running ads and
dominating shelf space of the benefits
Extended Problem-Solving
-All 5 stages of decision process is used + effort on external info + identifying and
evaluating alternatives
-High-involvement purchase: houses, automobiles, financial investments
Consumer purchase decision process influencers
- Marketing mix influences consumer purchase decision process
Situational influences on consumer decisions
- 5 situational influences have impact in decision process: purchase task, social
surroundings, physical surroundings, temporal effects, antecedent states
1. Purchase task: Reason engaging in the decision. Info searching and evaluation
alternatives might be differ depend on purpose
2. Social surroundings: People presenting around when purchase deciding→ affect what is
purchased
3. Physical surroundings: Decor, music, crowding in retail store may alter how decisions
are made
4. Temporal effects: time of day, amount of time available, etc… influence.
5. Antecedent states: mood or amount cash on hand → influence purchase behaviour and
choice

Psychological influences on consumer behaviour

- Helps marketers understand why and how consumers behave
Motivation and personality
Motivation
- Motivation: energizing force stimulates behaviour to satisfy a need.
5 need classes:
1. Physiological needs: basic to survival, must be satisfied first. → fast-food advertisement
with juicy hamburgers → activate need for food
2. Safety need: involve self-preservation and physical well-being → smoke detector, fire
alarm should focus
3. Social needs: concerned with love and friendship → dating services and fragrance
companies
4. Esteem need: need for achievement, status, prestige, and self-respect. e.g using
blackcard shopping at Holt Renfrew
5. Self-actualization needs: involve personal fulfillment e.g travel providers offer
specialized trips to enhance consumer’s experience
Personality
- Personality: character traits that influence behavioural responses
- Self-concept: way people see themselves and expect others to see them that way
- People have an actual self-concept (how they actually see themselves) and an ideal self-
concept (how they want to see themselves)
Perception
Perception: process which individual selects, organizes, and interprets info to create
picture of the world
One person sees a Porches as an achievement, while another sees it as showing off
Selective Perception: filters the information so that only some of it is understood or
remembered or even available to the conscious mind.
Selective exposure occurs when people pay attention to messages that are consistent with
their attitudes and beliefs, and ignore messages that are inconsistent.
Selective comprehension involves interpreting information so that it is consistent with your
attitudes and beliefs.
Selective retention means that customers do not remember all the information they see,
read, or hear, even minutes after exposure to it.
Perceived Risk
Represents the anxieties felt because the customer cannot anticipate the outcomes of a
purchase but believes that there may be negative consequences
Strategies: Obtaining seals of approval, Securing endorsements from influential people,
Providing free trials of the product, Providing illustrations, Providing warranties and
guarantees
Learning: refers to those behaviours that result from repeated experience and reasoning.
Behavioural Learning:
the process of developing automatic responses to a type of situation built up through repeated
exposure to it.

- Drive: a need that moves an individual to action

- Cue: a stimulus that one perceives
- Response: action to satisfy the drive
- Reinforcement: the reward >< negatice reinforcemnt

When hungry (a drive), a customer sees a cue (a billboard), takes action (buys a hamburger),
and receives a reward (it tastes great!).

Stimulus generalization occurs when a response that has been associated with one stimulus
occurs for another stimulus that is similar is some way. (Customers familiar with one product
will often transfer their feelings to others that seem similar)
Stimulus discrimination refers to the ability to perceive differences among similar products.
Customers may do this easily with some groups of products, such as automobiles.
Cognitive Learning
Customers also learn without direct experience—through thinking, reasoning, and mental
problem solving.
Brand Loyalty

which is a favourable attitude toward and consistent purchase of a single brand over
time.
Values, Beliefs, and Attitudes
Attitude formation
An attitude is a “learned predisposition to respond to an object or class of objects
in a consistently favourable or unfavourable way, which we develop in the process
of growing up.
Beliefs are perceptions about how different attributes of a product or brand
perform. Beliefs are based on personal experience, advertising, and discussions
with other people.
Attitude change
1, Changing beliefs about the extent to which a brand has certain attributes.
2, Changing the perceived importance of attributes.
3, Adding new attributes to the product.
Lifestyle:
how people spend their time and resources (activities), what they consider
important in their environment (interests), and how they think of themselves and
the world around them (opinions).
 The analysis of customer lifestyles, called psychographics, has produced many
insights into customer behaviour.
Socio-cultural Influences on Customer Behaviour
Personal Influence
Opinion Leadership: Individual who have social influence over others
Word of Mouth: People influencing each other during conversations
Reference group: a group of people who influence a person’s attitudes, values,
and behaviours.
Membership group: A group to which a person actually belongs, easily
identifiable, targeted by firm
Aspirational group: One that a person wishes to be a member of or wishes
to be identified with.
Dissociative group: One that person wishes to maintain a distance from
because of differences in values or bahaviours.
Family Influence:
Consumer Socialization: The process by which people acquire the skills,
knowledge, and attitudes necessary to function as customer
Family Life Cycle: describes the distinct phases that a family progresses
through from formation to retirement, each phase bringing with it
identifiable purchasing behaviours.
Family Decision-Making: Spouse dominant: One spouse has more
influence on the purchase decision. Joint decision-making is common for
cars, house,..
Five roles exist: information gatherer, influencer, decision maker, purchaser,
and user.
Culture and Subculture
Culture: A set of values, ideas, and attitudes that are learned and shared among
the members of a group.
Subcultures: Subgroups within a larger culture that have unique values, ideas,
and attitudes.
Global Cultural Diversity
cross-cultural analysis: Study of similarities and differences among consumers in
two or more societies.
Value: A society’s values represent socially preferable modes of conduct or states
of existence that tend to persist over time.
Custom: Norms and expectations about the way people do things in a specific
country or culture.
 Cultural Symbols: Objects, ideas, or processes that represent a particular group
of people or society.
Language: know not only the basics of the native tongues of countries in which
they market their products and services but also the subtleties and unique
expressions of the language.
Back translation: Retranslating a word or phrase back into the original language
by a different interpreter to catch errors.

Chapter 15;

Organizational Structure and Strategy

Kinds of Organizations:
A business firm is an organization that serves its customers in order to earn a
profit. Profit is the excess of revenues over costs,
not-for-profit organization is an organization that serves its customers but does
not have profit as an organizational goal
Three Organizational Levels:
Corporate level: top management
directs overall strategy for the entire
organization. Focus on interest of
shareholders
Business unit level: has business unit
managers who set the direction for
individual products and markets.
Strategic direction more specific
functional level, each business unit
has marketing and other specialized
activities such as finance,
manufacturing, or human resources.
Strategic direction very specific, focus.
Strategy issues in organizations
Strategy Defined for Business Plans and Marketing Plans:

- Limited Resources available, develop strategies to focus and direct the resources it has to
achieve its goals.
- Strategy: Long-term course of action designed to deliver a unique customer experience
while achieving to goal. After that, develop a marketing plan
The Business
What business are we in? Who are our customers? What offerings should we provide to
give these customers value?
One guideline in defining the company’s business is to try to understand the people
served by the organization and the value they receive.
 The Mission:

- Mission: a statement of the organization’s purpose and direction.

- Mission statement: something ignite loyalty, employees, others:
Ex: “To connect the world’s professionals to make them more productive and
successful.”-Linkedin

Goals
Goals or objectives take an organization’s mission and translate it into targeted levels of
performance to be achieved within a specific time frame.

Budgets and Financials

- Aligning marketing objectives and financial objectives of a company is important
- Marketing plans need to generate sales forecasts to determine the amount of money or
sales that will be generated.
Tracking Strategic Performance:
Marketing Dashboard: A visual computer display of essential marketing information.
Computer-based display with real-time information and active hyperlinks to provide
further detail.
Marketing Metrics: a measure of the quantitative value or trend of a marketing activity
or result.
Where are we now ? (SWOT: look internally and externally) (Phase 1: Planning, Step 1:
Situation analysis)
Customer: customer-focused and provide genuine value and benefits to existing and
prospective customers
Competencies: What do we do best? Organization’s special capabilities, including skills,
technologies, and resources that distinguish it from other organizations. Exploiting these
competencies can lead to success.
Competitors: Analysis Externally
SWOT➡️Build strength, Correct Weakness, exploit opportunities, avoid/prepare threats
The next areas to consider in step 1 are as follows:
The industry analysis section focuses on the industry and trends.
The competitor analysis section looks at the firm’s competitors.
The company analysis section provides details of the company itself.
The customer analysis section addresses the question: Who are the customers of the
firm’s products?
Business Portfolio Analysis: quantified performance measures and market growth
rates to analyze a firm’s strategic business units (SBU)
 Cash cows: generate large amount of
cash. have a dominant share of a slow-growth market and provide cash to pay large
amounts of company overhead
Stars: High share of high-growth market need extra cash to finance their own rapid
future growth.
Question marks: low share og high growth market:
Dogs: low share of low-growth markets. generate enough cash to sustain themselves

Where do We want to go ? (Phase 1, Step 2: Market-product focus and goal setting)

Market-Product Analysis
For any product, there is both a current market (consisting of existing customers) a new
market (consisting of potential customers).
For any market, there is a current product (what they’re now using) a new product
(something they might use if it were developed)
Strategy:
Market penetration: ↗️sales of present product in existing market
Market development: current product to new market
Product development: new product to existing market
Diversification: new product to new market

Determining which products will be directed toward which customers based on maket
segmentation, considering prospective buyers in terms of group, segments which have
common needs and will respond similarly to a marketing program,
- Set market and product goals: listening to what is important to customers
- select target markets:
- determine competitive advantages: those characteristics of a product or service that
make it superior to competing substitutes.
- position the product: attractive in-store setting, staff, delivery service.

How will we get there (Phase 1, Step3: Marketing Program)

developing the program’s marketing mix and its budget.
 Product Strategy: Offer best-quality product to customers
Price Strategy: Low-price guarantees
Promotion Strategy: use mass media advertising to communicate the feature of the
product to prospective and current customers.
Place (distribution) strategy: conveniently located in many provinces

Implementation Phase:
Implementing the marketing program that emerge from the planning phases
Obtaining Resources:
Growth require investment, should determine best option fro growth and how they
should be funded
Designing the Marketing Organization
 Developing Schedule:
Effective implementation requires developing appropriate schedules and determining
specific deadlines for the creation and execution of marketing activities.
Executing the Marketing Program
A marketing strategy is how a marketing goal is to be achie
characterized by a specified target market and a marketing program to reach it.

To implement a marketing program successfully, hundreds of detailed decisions are often

required, such as writing ads or setting prices. These decisions, called marketing
tactics, are detailed day-to-day operational decisions essential to the overall success of
marketing strategies.
Phase 3 Evaluation Phase
Make sure if the plan is moving in the right direction.
Identifying Deviations:
Set goals and compare to actual results
Plans exceeded: determine the drive, build on it
Shortfall( less than planned “planning gap”) fill with revised marketing program
Acting in Deviations
Marketing program falls short of its goals->correcting a negative deviation, reevaluate
Actual result better than plan->exploit a positive deviation