Strategic Marketing Management

ICM Single Subject Diploma in

Strategic Marketing Management

Course Outlines

Introduction to Marketing Management

• The nature of marketing
• The management process
• A modeling approach
• Strategic decisions and the nature of the strategy
• The marketing/strategy interface

Marketing Auditing and SWOT Analysis

• Marketing audit – it’s meaning
• Reviewing marketing effectiveness
• Role of SWOT analysis
• Characteristics of effective audits

Segmental Productivity and Ratio Analysis

• Costs categories
• Marketing costs analysis
• Segmental analysis
• Marketing experimentation
• Customer profitability analysis
• Nature of productivity
• Use of ratio

Approach to Competitor Analysis

• Meaning of competitor
• Competitive relations evaluation
• Identifying competitors objectives
• Competitors strengths and weaknesses
• Competitive responses
• Competitive information system

Approach to Customer Analysis

• Model of buyer behavior
• Factors influencing consumer behavior
• The buying decision process
• Organizational buying behavior

Mission and Objectives

• Purpose of planning
• Establishing a corporate mission
• Influences on objectives and strategies
• Setting objectives and targets
• Development of strategies

Structural, Market and Environment Analysis

• Analyzing the environment
• Nature of the marketing environment
• Micro and macro-environmental analysis
• Approaches to environmental analysis

Market Segmentation, Targeting, and Positioning

• Nature and purpose of market segmentation
• Bases for segmentation
• Approaches to segmenting industrial markets
• Market targeting
• Product positioning

Formulation of Strategy

Analyzing the Product Portfolio

• The development of strategic perspective models of portfolio analysis
• Market attractiveness

Generic Strategies for Leaders, Followers, Challengers, and Niches

• Types of strategy, Porter’s strategies
• Identifying potential competitive advantages
• Strategies for market leaders, market challengers, market followers, and market niches
• Dangers of strategic wear out

Pricing Policies and Strategies

• Role and significance of price
• Approaches to price setting
• Pricing objectives
• Pricing methods
• Using price as a tactical weapon
• Offensive pricing

Promotional Plan

• The promotional mix
• Integrating the elements of the promotional mix
• Advertising plan
• Planning for personal selling

Distribution Plan

• Distribution audit
• Distribution objectives
• Distribution strategies
• Evaluation and control

Criteria of Choice in Decision Making

• Financial and non-financial criteria
• Multiple criteria, modeling approaches
• Financial and non-financial plans

Strategic Implementation and Control

• Marketing feedback and control systems
• Basic control concepts and their application throughout the planning and implementation process
• Problem areas and organizational considerations
• The role of internal marketing, management controls, budget, networks, performance evaluation, ratio analysis, corrective responses, bench-marking
• The auditing process