Management may decide to manage or coordinate operations in the channel of distribution, become a member of a vertically coordinated channel, or become a member of a conventional channel system. On the basis of types of criteria sales, profits, efficiency, and strategic considerations used for measuring and comparing results, there are four types or tools of marketing control. Nov 08, 2019 according to the event marketing 2019. Post your searchfriendly releases on your sitethey should be represented as an actual page on the site, not a pdf. It is ranked 5th in the uk and 16th in the world by qs world university rankings. Channel management is a critical part of robust, modern sales strategies. Paurav shukla 1 1 it is a mistake to try to look too far ahead. Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. However, complex businesses with many sales channels can benefit from a more inclusive approach. Whether you are selling through wholesalers, distributors, brokers, dealers, agents, or resellers, your task as a channel manager is clear to provide the programs and structure to achieve your sales goals without diminishing reputation or upsetting your direct sales force. You can evaluate a new distribution channel or improve your channel marketing management at any time.
The strategic marketing management analysis of lenovo group wang, wen cheng, dept. How close a relationship should be developed with channel. Layout your resources, evaluate them along with evaluating other external and internal. Achieving that may be straightforward for small organizations with a clear, single sales channel. At that time, strategy literally meant the art and science of directing military forces. Managing the marketing channel calls for the channel manager to answer three strategic questions. Benchmarking against leading practitioners and mapping customer journeys were key input into designing the required channel strategy. See how marketing channels relate to the other strategic variables in the marketing mix. Strategic marketing management definition bizfluent. Today, the term strategy is used in business to describe how an organization is. Paurav shukla 3 objectives work performed by marketing channels channel management decisions channel dynamics delivered to the right placeretailing 4. Consequently scm is the strategic management of all the traditional business functions that. Single marketing channel, the products and services are.
This type of management may help discover other marketing opportunities. Our strategic marketing msc is a topranked marketing msc. Many firms viewed marketing channel strategy as somewhat of a leftover after the. Steps of marketing planning process business study notes. Sir winston churchill managing marketing channels dr. Successful marketing distribution channel management enables companies to deliver their products to customers efficiently. The term channel management is widely used in sales marketing parlance. The marketing concept, a crucial change in management philosophy, can be explained best by the shift from a sellers market one with a shortage of goods and services to a buyers market one with an abundance of. Brand marketing customer management distribution channels industry market leadership new user acquisition key account marketshare. Channel management training and consulting miller heiman. The strategic marketing management analysis of lenovo group. The design and management of a wellworking marketing channel not only takes considerable effort and thought, but it affects.
In this article, we explore, 1 the definition and purpose of strategic marketing, 2 the three phases of the strategic marketing. Aug 01, 2008 strategic marketing management 7th edition offers a comprehensive framework for strategic planning and outlines a structured approach to identifying, understanding, and solving marketing problems. Capgemini consulting used its channel management strategic framework. Your distribution channel strategy includes selecting the type of channel, determining the intensity of distribution, and designing the channel configuration, and managing the channel. The second step of marketing planning process includes the overview and examination of your present condition.
Changes to the product can have a negative or positive. Thus, marketing channel strategy, design, and management must now deal with ecommerce technology as an integral part of marketing channels and distribution systems. What is sales channel marketing management and strategy. Outline for a competitive strategic marketing plan.
Dr peltons principal research interests include marketing channels, relationship marketing and international distribution. The channels are nothing but ways or outlets to market and sell products. Introduction to strategic marketing management 1 chapter 1 introduction to strategic marketing management. A successful multichannel strategy engages marketing, distribution, and finance teams, among others. A relationship management approach and was updated. Consumer price perceptions and setting prices 160 summary 165 channel strategy 166 channel design 166 the science of branding 52. Selecting the right channel strategy matrix marketing group.
Formulating marketing channel strategy cally oriented and in daily contact with customers more involved, or are higherlevel sales managers with their channel. In every type of control, the same procedure is applied, i. Nor are content types specific to a single marketing tactic. Describe the nature and scope of strategy examines historical evolution of strategic management, identify and explain the marked differences between strategic planning and marketing. Philip kotlers contributions to the field of marketing philip kotlers status as a major thought leader in marketing is widely. In terms of the design of marketing channels, channel strategy should guide the design process in an attempt to gain a differential advantage for the firm using superior channel design. Strong and strategic marketing plans may be built from this style of management. For business students, the theory advanced in this book is an essential tool for understanding the logic and the key aspects of the marketing process.
Reconciling the different marketing approaches 156 product strategy 156 perceived quality 156. Growing importance of marketing channels as a strategic marketing tool, marketing channels had, for many years, taken something of a back seat to the other three strategic areas of the marketing mix. Strategic marketing channel management mcgrawhill series in marketing bowersox, donald j. It is a part of strategic and long term planning process to see your current position, your resources and view the market in which you are moving. Our approach to sales transformations encompasses how and to whom companies sell their products and services, the channels they use, and the backoffice. Channel design refers to the development of new chan. Miller heiman groups channel management training equips sales organizations with best practices for managing indirect and omnichannel sales efforts. Framework for success 3 the number, type and reach of possible channels through which a customer can interact with an organization has increased rapidly over the last decade. Pelton is an awardwinning teacher and researcher in the college of business administration at the university of north texas. Effective channel management strategies segmenting the.
True alignment to corporate and sales strategy defined partner selection process adherence to a channel governance process. Between 2017 to 2018 the number of companies organizing 20 or more events per year increased by 17%. Philip kotlers contributions to the field of marketing philip kotlers status as a major thought leader in marketing is widely recognized. And while most companies do great marketing, only a few have created brand attachment and customer loyalty through their marketing practices and tactics. Channel strategy 166 channel design 166 the science of branding 52. The word strategy comes from the greek word strategos, which means a general. Strategic marketing management linkedin slideshare. You can evaluate a new distribution channel or improve your channel marketing management at any. Learn strategic marketing management chernev with free interactive flashcards.
This will require more data sharing and handinhand partnership. Marketing channels 7e 1 5 channel strategy versus logistics management channel strategy and logistics management comprise the distribution variable of the marketing mix. You might think about why you need a channel strategy for access to markets, marketing, and sales support, or other sales support. A new marketing channel management strategy based on. Strategic marketing management 7th edition offers a comprehensive framework for strategic planning and outlines a structured approach to identifying, understanding, and solving marketing problems.
Pdf marketing channel management and the sales manager. Channel strategy is concerned with the entire process of setting up and operating the contactual organizations that are responsible for meeting the firms distribution. Distribution channels customer relationship management crm is a term that refers to two things. The 5 components of a channel management strategy sbi. Marketing tactics are the strategic actions that direct the promotion of a product or service to influence specific marketing goals. Let us begin our discussion on strategic marketing with the definition of strategy. According to milton and reiss, we can use both strategic and marketing planning to develop the marketing mix into a set of elements from which a competitive strategy might be developed, as shown in table 1. Benchmarks and trends report, most marketers believe that event marketing is the singlemost effective marketing channel for achieving business goals. Strategic marketing management implements your companys mission through focused processes to get the most out of your existing marketing plan. However, more often, the channel also includes intermediaries.
Turn channel strategies into competitive advantage. To clearly differentiate between marketing management and marketing in its new role, a term strategic marketing. Marketing managementis the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that. It is a marketdriven process of strategy development, taking into account a constantly changing business environment and the need to deliver superior customer value. Creative, clientfacing, analytical, practical or more. The strategic marketing process how to structure your marketing. Send your release to internet news distribution services. Paurav shukla 3 objectives work performed by marketing channels channelmanagement decisions channel dynamics delivered to the right placeretailing 4. Mba09 marketing planning and management 5 mm06 distribution and channel management 5 mba10 production technology and industrial engineering 5 mm07 services marketing 5 mba11 information science for managers 5 mm08 rural and green marketing 5 mba12 strategic management and corporate governance 5 mba16 project work viva voice 6 3. In some cases, these channels are a simple exchange of services between the business and the customer. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. Elements of a competitive strategic marketing plan are as follows.
Strategic marketing channel management mcgrawhill series in. It is defined as a process where the company develops various marketing techniques as well as sales strategies to reach the widest possible customer base. Choose from 492 different sets of strategic marketing management chernev flashcards on quizlet. Kotler on strategic marketing by john roberts, alvin silk, glen urban volume editor, and jerry wind 1. Feb 14, 20 promotion management better localization of promotions as well as marketing messages and materials based on channel capabilities and customer portfolio operational efficiency avoiding waste of time and resources on channels with low performance and limited potential, while addressing the exact needs of each channel in terms of training. The magnitude of change demands a strategic perspective that views channel decisions as choices from a continually changing array of alternatives for achieving market coverage and competitive advantage subject, of course, to the constraints of cost, investment, and flexibility. Chapter one introduction to strategic marketing learning objective after completing this chapter, the student will be able to. Its link the organization with the environment and views marketing as a responsibility of the entire business rather than a specialized function. The chain of destiny can only be grasped one link at a time. In some cases, a channel manager had 20 small channel partners assigned to them. Strategic marketing management chernev flashcards quizlet. This course has a strategic, digital and analytical focus, combining subjectspecific marketing knowledge and digital marketing skills with handson, practical marketing experience. Strategic marketing msc masters course university of surrey.
Understand the principles of specialization and division of labor as well as contactual ef. Promotion management better localization of promotions as well as marketing messages and materials based on channel capabilities and customer portfolio operational efficiency avoiding waste of time and resources on channels with low performance and limited potential, while addressing the exact needs of each channel in terms of training. Masters in marketing 2020 our msc marketing course will equip you with the expertise and advanced knowledge to become a successful marketing leader of the future. Enable and promote shared savings goals that generate savings from both physical and data standards. The primary goal of a sales team is, of course, sales. Marketing channels in the supply chain boundless marketing. Capgemini consulting used its channel management strategic framework to analyze how well the channels were delivering the experience required by the companys customers. Strategic marketing management lets businesses see the whole picture. How to prepare strategy for marketing distribution channel. By now, so much has been spoken and written about his. A well defined and feasible marketing strategy makes meeting customer needs a likely and attainable goal.
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