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Marketing Strategies and Plans

In this chapter, we will address the following questions:

  • 1. How does marketing affect customer value? (Page 43)
  • 2. How is strategic planning carried out at different organizational levels? (Page 45)
  • 3. What does a marketing plan include? (Page 50)
  • 4. How can companies monitor and improve marketing activities and performance? (Page 52)

Marketing Management at Hewlett-Packard

A true technology pioneer, Hewlett-Packard (HP) has encountered much difficulty in recent years, culminating in a massive quarterly charge of more than $9.5 billion in 2012. Of that total, $8 billion was a write-down in the value of its IT services unit as the result of a disastrous acquisition of EDS. Revenue for the unit dropped when customers stopped signing large, long-term outsourcing contracts that were at the core of the units business model. In a maturing market with few good new products, PC sales slowed so much that HP announced it was exiting the business. Printer and ink sales dropped as consumers began to print less. CEO Meg Whitman vowed to increase the company’s emphasis on design, reorganizing the PC group to come up with a cleaner, minimalist sensibility. Admitting that the company did not yet have a strategy for mobile phones, Whitman acknowledged there was much work to be done.1 Therefore, HP is revising its corporate strategy to reflect all these significant changes in the marketing environment.

Developing the right marketing strategy requires a blend of discipline and flexibility. Firms must stick to a strategy but also constantly improve it. In today’s fast-changing marketing world, identifying the best long-term strategies is crucial—but challenging—as HP has been finding out. This chapter examines some of the strategic marketing implications in creating customer value, planning for marketing, and assessing marketing performance.

 
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