Strategic Marketing Management
1. American business history is divided into four major eras: production, sales, marketing concept, and the current era of customer relationship. Unlike the previous eras, the customer relationship era focuses solely on satisfying the customers. Firms continuously seek and collect information regarding the needs and requirements of the customer, and using the information to enhance customer value and product utility.
2. If the measured results fail to meet the company’s objectives, the manager needs to re-evaluate the strategic marketing process to determine the source of the failure. The manager and his team can evaluate the product and its specifications to see if it matches with customer requirements. The manager will also have a look at the marketing procedure used to see if it was appropriate for the target market. If the measured results exceed objectives, he should identify the reason for the success and use it as a benchmark for future strategic marketing plans.
3. The planning process allows the company to conduct an in-depth analysis of itself and its business environment. The main result from the planning process is the development of goals, identification of target markets, differentiation, and positioning of the product as well as the development of a marketing plan.
The implementation phase involves the execution of the marketing plan designed during the planning stages. The results from this stage include obtaining necessary resources, the design of a marketing organization, development of schedules, and the execution of the marketing plan.
The main result of the evaluation stage is identification of any deviations to the original marketing plan.
4. The target market customers for these courses consist of entrepreneurs and individuals who are seeking promotions into managerial positions in their places of work. In addition, students pursuing a degree might enroll in degree-related courses that could help them in attaining undergraduate or post-graduate degrees. The price of the courses needs to be affordable because the individuals have average low incomes. The courses also need to be taught in a location that is safe and secure especially at night. Transport to and from the college needs to be safe, available especially at night, and affordable. The product should also provide invaluable knowledge that the student can use in his day-to-day business activities. Promotional activities will include direct mail, advertisement placement on print, television, radio, and online media, and providing brochures.
5. Historically, the brewing industry was oligopolistic. A few sellers produced large quantities of the product for the market. However, recent developments have shifted the industry into a monopolistic competition. There are many sellers in the market and their product is differentiated by taste. Taste preferences of the consumer now drive the market.
6. Heineken uses the stages of the purchase decision process to position itself as the most favorable drink for its client base. The first stage is need recognition, where the customers recognize they need a drink to relax and have fun. The company establishes itself here by persuading the customer that its product is fun, and cool. The second stage is information search by the customer. The company has a multitude of advertisements across all platforms as a source of information to the customer. When it comes to evaluating alternatives, the company provides evidence as to why its product is better than the competition such as better taste, and healthier ingredients. The post-purchase behavior is critical for retention of customers. The company often asks for feedback from its clients after they have used the product to determine how to continually improve the product.
7. Panasonic should provide excellent customer service at every point of purchase in a bid to reduce consumer anxiety over the high-definition television sets. In addition, the company can focus its promotional activities on highlighting the benefits of HD-TV sets including higher quality of images, better picture, and greater enjoyment. The manufacturer should also focus on highlighting the product’s ease of operation to quell any fears about the relatively new technology.