ABSTRACT
The aim of marketing management is to find, attract, keep, and grow customers by creating, delivering, and communicating superior value. Marketing managers must consider the following to ensure a successful marketing strategy: What customers will we serve, and what is our target market? and How can we best serve these customers, and what is our value proposition? Key segmenting variables are geographic, demographic, psychographic, and behavioral. Different segments desire different benefits from products, and it is best to use multivariable segmentation bases to identify smaller, better-defined target groups. A differentiation strategy is the act of creating superior customer value by differentiating the market offering, and positioning involves arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. The strategic planning process involves establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan.
