Marketing Strategy & Bcg Consulting Model

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Marketing Strategy
At the heart of any business strategy is a marketing strategy
Businesses exist to deliver products that satisfy customers. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. A marketing strategy is composed of several interrelated components called the marketing mix: The Marketing mix consists of answers to a series of product and customer related questions. The Marketing Mix 1. Market selection a. Who are the customers or subset (segment) of customers you are targeting? 2. Product planning a. What products are the company going to design
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Since the standard affects all software engineers within the company, an evaluation team is formed to make the recommendation.
The evaluation team hires a consultant to research alternatives. The consultant has great influence due to his strong technical background.
Recent magazine articles are also reviewed.
After a few months, the evaluation team makes a recommendation and the VP R&D decides to accept it and go ahead.
The purchasing manager is asked to negotiate the best deal.
The salesperson for the winning workstation company was on top of and influenced every person at every stage of the decision making process.

Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio on the basis of their related market share and industry growth rates. It is a two dimensional analysis on management of SBU’s (Strategic Business Units). In other words, it is a comparative analysis of business potential and the evaluation of environment.According to this matrix, business could be classified as high or low according to their industry growth rate and relative market share.Relative Market Share = SBU Sales this year leading competitors sales this year.

Market Growth Rate = Industry sales this year - Industry Sales last
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