Marketing strategy planning tries to match opportunities to the firm’s resources (what it can do) and its objectives (what top management wants to do). Successful strategies get their start when a creative manager spots an attractive market opportunity. Yet, an opportunity that is attractive for one firm may not be attractive for another. As the Hewlett-Packard case suggests, attractive opportunities for a particular firm are those that the firm has some chance of doing something about-given its resources and objectives.
This Article will help you to:
- Understand why marketing strategy planning involves a process of narrowing down from broad opportunities to a specific target market and marketing mix.
- Know about the different kinds of marketing opportunities.
- Understand why opportunities in international markets should be considered.
- Know about defining generic markets and product-markets.
- Know what market segmentation is and how to segment product-markets into submarkets
- Know three approaches to market-oriented strategy planning.
- Know dimensions that may be useful for segmenting markets.
- Know what positioning is—and why it is useful.
- Understand the important new terms
More reading: http://www.mhhe.com/business/marketing/fourps/pdf/chap3.pdf