Use here Think-Pair-Share 2 Use and here Outside Example 1 2 p. 55 Learning Objective List the marketing management functions, including the PPT 2-37 elements of a marketing plan, and discuss the 5 importance of measuring and managing marketing return on investment p. 55 MANAGING THE MARKETING EFFORT p. 55 PPT 2-38 Managing the marketing process requires the four Figure 2.6: marketing management functions shown in Figure 2.6. Managing Marketing: Analysis Analysis, Planning, Planning Implementation, Implementation and Control Control p. 55 Marketing Analysis PPT 2-39 Key Term: SWOT analysis Managing the marketing function begins with a complete analysis of the situation. company’s p. 56 Figure 2.7: SWOT The company must analyze its markets and marketing Analysis: Strengths environment to find attractive opportunities and avoid (S), Weaknesses environmental threats. (W), Opportunities (O), and Threats (T) The marketer should conduct a by which SWOT analysis, it evaluates the overall strengths, weaknesses, company’s opportunities, and threats. Assignments, Resources Use here Critical Thinking Exercise 2-7 p. 56 Marketing Planning PPT 2-40 Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, p. 57 product, or brand. Table 2.2: Contents of a Marketing Plan Table 2.2 outlines the major sections of a typical product or brand plan. See Appendix 1 for a sample marketing plan. A marketing strategy consists of specific strategies: target markets, positioning, the marketing mix, and marketing expenditure levels.
Use Think-Pair-Share 2 here Use Outside Example 1 and 2 here p. 55 PPT 2-37 p. 55 PPT 2-38 PPT 2-39 List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing marketing return on investment MANAGING THE MARKETING EFFORT Managing the marketing process requires the four marketing management functions shown in Figure 2.6. Analysis Planning Implementation Control Marketing Analysis Managing the marketing function begins with a complete analysis of the company’s situation. The company must analyze its markets and marketing environment to find attractive opportunities and avoid environmental threats. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths, weaknesses, opportunities, and threats. Learning Objective 5 p. 55 Figure 2.6: Managing Marketing: Analysis, Planning, Implementation, and Control p. 55 Key Term: SWOT analysis p. 56 Figure 2.7: SWOT Analysis: Strengths (S), Weaknesses (W), Opportunities (O), and Threats (T) Assignments, Resources Use Critical Thinking Exercise 2-7 here p. 56 PPT 2-40 Marketing Planning Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand. Table 2.2 outlines the major sections of a typical product or brand plan. See Appendix 1 for a sample marketing plan. A marketing strategy consists of specific strategies: target markets, positioning, the marketing mix, and marketing expenditure levels. p. 57 Table 2.2: Contents of a Marketing Plan
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