About This Chapter
Market Planning and Strategy - Chapter Summary
From defining what a marketing plan is to detailing information about marketing objectives, market analysis methods and strategic marketing practices, this chapter provides an overview of various topics relating to marketing planning. You can stud how to develop a marketing mission statement and understand value propositions, competitive advantage, portfolio matrices and more.
Each lesson takes only 5-10 minutes to review, and you can also print lesson transcripts if desired. Access lessons at any time, on any device, so studying easily fits into your schedule. Determine if you're ready to move from one lesson to the next by taking brief self-assessment quizzes. Upon completion of this chapter, you should be able to:
- Explain what a marketing plan is and strategies it should outline
- Name the four types of planning used by marketing managers
- Discuss and provide examples of marketing objectives
- Explain how value proposition works
- Describe how to conduct situation analysis in marketing
- Provide details about Michael Porter's five forces model
- Relate the importance of strategic marketing for competitive advantage and define sustainable competitive advantage
- Define portfolio matrix and market entry strategy
- Develop a marketing vision statement and evaluate a marketing plan
1. What is a Marketing Plan? - Definition & Sample
In this lesson, we will learn what a marketing plan is and why it is so important for a business to have one. We will cover the specific strategies the plan should have in order to help the organization achieve its goals.
2. Types of Planning: Strategic, Tactical, Operational & Contingency Planning
This lesson will explain the four types of planning used by managers, including strategic, tactical, operational and contingency planning. Terms, such as single-use plans, continuing plans, policy, procedure and rule, will also be defined.
3. What Are Marketing Objectives? - Examples & Overview
Marketing objectives are essential for any organization that wants to raise awareness about itself, its products, or its services. Great marketing objectives should help build organizational awareness and grow customer loyalty.
4. The Role of the Value Proposition in Marketing
A central strategy for marketers is value proposition, by which companies try to demonstrate why consumers should purchase their goods. This lesson shows how it works, as well as some real-life examples.
5. What is SWOT: Situation Analysis in Marketing
A successful business needs to know its capabilities as well as the marketplace in which it competes. In this video, learn how to define a mission statement and conduct a situational analysis.
6. Porter's Competitor Analysis Framework
Understanding competition and the potential threat to your business is critical to a successful business. By utilizing Michael Porter's Five Forces Model, you will be able to better analyze the competition in your industry.
7. Competitive Advantage: The Importance of Strategic Marketing
Companies have many options when it comes to gaining market share and increasing profits. Learn about strategic marketing and the tools companies use to their advantage.
8. Sustainable Competitive Advantage: Definition, Concept & Examples
This lesson explores the concept of sustainable competitive advantage, or what makes a company uniquely more successful than its industry competitors. How do companies achieve a competitive advantage? And once a competitive advantage is achieved, how can it be maintained?
9. What Is a Portfolio Matrix in Marketing? - Definition & Model
Have you heard of a portfolio matrix? It's a marketing tool used to decide which products are worth keeping and which should be terminated. In this lesson, we'll learn how to create and use a portfolio matrix.
10. Market Entry Strategy: Definition & Example
In this lesson, we'll learn about market entry strategy by investigating several methods an organization can use to enter a new market. We will look at exporting, licensing, franchising, joint ventures, and more.
11. Developing a Marketing Vision Statement & Plan
A marketing plan is a crucial piece of your overall marketing efforts. In this lesson, you'll learn how to develop and write a vision statement for a marketing plan and establish marketing goals and objectives.
12. How to Evaluate a Marketing Plan
Marketing plans are evaluated to measure their impact on companies and consumers. In this lesson, we will explore how to evaluate marketing plans through customer satisfaction and brand value surveys, Return on Investment calculations, and market share research.
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Other chapters within the TECEP Introduction to Marketing: Study Guide & Test Prep course
- Overview of Marketing
- Market Research & Analysis
- Marketing Environment Basics
- Pricing Strategies in Marketing
- Consumer Behavior, Satisfaction & Loyalty
- Segmentation, Targeting, & Position in Marketing
- Marketing Ethics Basics
- Business Marketing Overview
- Global Business Marketing
- Product & Service Management
- Marketing Channels & Distribution
- Supply Chains & Logistics in Marketing
- Direct Marketing Communications
- Integrated Marketing Communications Overview
- Marketing & Social Media
- Personal Selling Communication
- TECEP Introduction to Marketing Flashcards