In Chapter 4 and the earlier part of this chapter we looked at some of the earlier tools of analysis available to the marketing planner for analysing strategic alternatives and choices. We have seen that although they are useful, they represent only a partial framework for analysis and decision making. In recent years progress has been made in developing more comprehensive tools of strategic analysis. Different though the various tools may be, they are all primarily directed towards two essential activities:
A particular problem for the marketing planner in the large multi-product/multi-market company is that decisions must be made as to what priority to place on each of several business areas, each competing for scarce resources. For future success in business, it is vital that these conflicting demands for resources are balanced so as to offer the greater chance of meeting overall corporate objectives. The partial perspectives offered by the tools of analysis examined earlier are particularly inappropriate for this need, hence the development of more comprehensive approaches.
Before we look at these more comprehensive tools of strategic market planning, we must emphasize that none of the tools provides a fail-safe panacea for diagnosis and decision. Each requires managerial judgement and experience in its application and interpretation. If we think of them as being aids to marketing management rather than a replacement for judgement, we have gone some way towards using these more powerful tools wisely.
Some tools of strategic market analysis fall into the category of ‘portfolio analysis models’. Referred to as ‘product market grids’, these models are based on positioning each business unit, or specific product market on a grid according to the attractiveness of the market and the company’s competitive position.
One of the earliest and most influential of the product/market portfolio techniques is that developed by the Boston Consulting Group. We now examine this strategic tool in detail, and examine its uses and limitations.
Marketing Management Related Tutorials
|Consumer Behaviour Tutorial||Marketing Strategy Tutorial|
|Marketing Research Tutorial||Principles of service marketing management Tutorial|
|Advertising Management Tutorial|
Marketing Management Related Interview Questions
|Consumer Behaviour Interview Questions||Marketing Strategy Interview Questions|
|Marketing Concepts Interview Questions||Marketing Research Interview Questions|
|Principles of service marketing management Interview Questions||Advertising Management Interview Questions|
|Brand Management Interview Questions||Marketing Interview Questions|
Marketing Management Related Practice Tests
|Consumer Behaviour Practice Tests||Marketing Strategy Practice Tests|
|Marketing Concepts Practice Tests||Marketing Research Practice Tests|
|Principles of service marketing management Practice Tests||Advertising Management Practice Tests|
|Brand Management Practice Tests|
Marketing Management Tutorial
Development Of A Strategic Approach To Marketing: Its Culture; Internal Macro- And External Micro-environmental Issues
Markets And Customers: Consumer And Organizational Buyer Behaviour And Marketing Strategy
Markets And Customers: Market Boundaries; Target Marketing
Product And Innovation Strategies
Channels Of Distribution And Logistics
Customer Care And Relationship Marketing
Marketing Information Systems And Research
Analysing The Environment: (opportunities And Threats) And Appraising Resources (strengths And Weaknesses)
Evaluating And Controlling Strategic Marketing
Strategic Marketing Planning Tools
Services Marketing And Not-for-profit Marketing
All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd
Wisdomjobs.com is one of the best job search sites in India.