Strategic Marketing

In the process of creating a new marketing strategy, Peter and Saul must consider three interrelated sets of decisions. First of all, they have to set specific objectives to be accomplished within the new target market, for instance sales volume, market share and profitability goals. Those objectives must be consistent with the Wytee's corporate and business unit, yet specific enough to make possible management to monitor and evaluate the Wytee's product-market's performance over time. Secondly, they have to decide on an overall marketing strategy to appeal to customers and to gain a competitive advantage in the new target market. Before moving ahead, assess the direct competitors Peter and Saul will find in the new market and determine how they will position against them. For an overview, it is best to conduct a competitive analysis by reviewing competitors' ads, brochures and Web sites, looking for their key selling points, along with pricing, delivery and other service characteristics. Finally, they must make decisions about each element of the tactical marketing programme used to carry out the strategy. These decisions must be internally consistent and integrated across all elements of the marketing programme. Mountinho (2001)…