Marketing Strategy/Exploratory Research Course Outline



Marketing Strategy/Exploratory Research Course Outline

Marketing strategy: is the framework by which value is created and sustained by providing benefit to customers. It involves these two steps

I. Selecting a target market and determining the desired positioning

a. Situation analysis of the 5 C’s provides background for making the choices

i. Customer

ii. Company

iii. Competition

iv. Collaborators

v. Context

II. Specifying the plan for marketing activities to achieve the desired positioning

a. Marketing mix (4 P’s)

b. Customer acquisition

c. Customer Retention

Marketing Strategy and Research Consulting Model

I. Client Research

a. Using the Web or provided material, become as familiar with the client as possible

b. Learn as much as possible about the clients current situation (the 5 C’s—see them below) so the initial client interview will be as productive as possible

II. Client interview

a. Objective #1: To determine the scope of the project—what problem the client want you to help solve.

b. Objective #2: To become as familiar as possible with the client by listening to the client presentation and by asking key questions to help with the situation analysis

III. Complete the Situation Analysis by doing more “desk research” and other gathering of secondary data. Start with internal company info then move to more public sources. Project #1: Situation Analysis

a. Customer (see Project#1 for detail on each of the 5 C’s)

b. Company

c. Competitors

d. Collaborators

e. Context

Note: we will spend a few days with generic cases that I write on these

IV. Target market and positioning evaluation: From the situation analysis try to determine if the target market and desired positioning are correct and what information would we like to have so that we could make that determination.

a. Ways to segment

b. Consideration for choosing a segment

V. Exploratory research proposal: Prepare a proposal for exploratory research to obtain desired information and deliver it to the client for their approval

VI. Exploratory research:

a. Conduct exploratory research

b. Synthesize the qualitative data

VII. Recommendations/Hypothesis: Develop hypotheses about target and positioning that could be further researched using descriptive/quantitative techniques. Secondarily, you might develop hypotheses concerning the marketing mix and/or customer acquisition or customer retention activities that could be researched further.

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