The Marketing Mix-Strategic

The most important part of any marketing program is the preparation of the marketing plan, not the implementation of the tactics. Good planning and strategy will result in well thought out, effective tactics that support business objectives at the lowest total cost.

Strategic Marketing Activities

Define Marketing and Sales Objectives (Goals)
Company and Product Review (What are we selling?)
Define corporate philosophy, goals and objectives
Define products/services offered

Define Target Market (Who are we selling to?)
Customers
Size
Trends
Key buying factors
Niche Identification

Definition of Benefits (Why will customers buy?)
Sales/Market Share Analysis
Market Segmentation
SIC classification
Size
Geographic
Usage rates
Organization structure
Position in distribution channel
Industry-specific factors

Pricing
Pricing relative to competition
Price elasticity
Value pricing

Competitive Analysis
Develop competitive information/database
Relative strengths and weaknesses

Demand Analysis
Channel and Distribution Planning
Positioning Strategy/Branding Strategy
Product Launch Planning

Design of System to Measure Results/Effectiveness of Marketing Program
Sales trend analysis
Surveys
Response measurement

Forecasting