New Business Marketing Essay
This learning guide was written by Sara Panter, an associate tutor at Ashridge. It is one of a series produced by the Learning Resource Centre. Each guide sets out to give you a quick summary of the main theories on a particular topic backed up by a practical commentary based on Ashridge's long experience of consulting on and teaching management issues. We hope that it whets your appetite for more information. The guide points you in the direction of other sources such as key books, articles and videos.
Introduction Stage one: Defining strategic marketing objectives Stage two: Determining strategic focus Stage three: Defining customer targets Stage four: Competitor analysis Stage …show more content…
Fig.1 : Components of marketing strategy
Source: Doyle, P. et al. Japanese Marketing Strategies in the UK: A Comparative study, Journal of International Business Studies Vol. 17(1) Spring 1986. Reprinted with permission from Butterworth Heinemann.
Stage one: Defining strategic marketing objectives
These will to a large extent be determined by corporate strategy, and will answer such questions as: which markets should we compete in? what should be our targets, in terms of market share and profitability, in these markets? The answer to the first question will be determined by the inherent attractiveness of the market and our ability to compete in it. A market may be attractive for a number of reasons: because there are high profits to be made in