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Strategic Marketing: An Introduction by Tony Proctor

By Tony Proctor

Each firm wishes an realizing of the techniques utilized by its opponents, and a easy wisdom of ways the company setting affects on its association sooner than it could actually formulate a advertising plan. topics coated comprise: * business plan* interpreting the enterprise setting* the buyer out there position* concentrating on and positioning* advertising combine strategy.This clean new introductory textual content examines the character of aggressive business plan, highlights the significance of adopting new advertising practices in an effort to acquire so much enjoy the company possibilities of the twenty-first century, and considers how powerful administration of inner and exterior relationships is key to motion the method. Case stories, case histories and thought-provoking questions make this a worthwhile source for college students and training managers alike.

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A starting point is the product life cycle concept. This is a useful conceptual framework within which to study how firms can vary their marketing strategies—though of course as we shall see in later chapters they do have to take other factors into account. There seems to be little doubt, however, that at different stages in the product life cycle certain marketing strategies seem to be more appropriate than others. The life cycle concept also points to the different earning patterns of products or services at various points in time.

Most business units share an organizational framework with other business units which takes us to the remaining two points. 5 The allocation of the resources among the business units. Financial resources generated either internally or externally, plus non-financial resources such as plant, equipment and people, have to be allocated. The allocation decision is a key component in the strategy formulation process. 6 Looking for synergies across the business—that is the creation of value by having business units that support and complement each other.

24 PORTFOLIO ANALYSIS Experience shows that sales and profitability vary at every stage in the life cycle. Moreover, the comparative significance of, nature of, and interrelationship between price, promotion, distribution and the actual specification of the product itself change over the life cycle. The quality of the product is often important during the introductory stage, as inadequacies that appear during the trial of a product can end in long-term buyer lack of interest in the product. Advertising and marketing communications need to be informative during this period.

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