2.8 The Marketing Director needs to submit a strategic plan for entering a new market. He knows he needs long periods of uninterrupted time. He considers two options:
(1) Staying at home to develop the plan,
(2) Delegating some parts of the plan to subordinates.
What are the factors the Director needs to consider when he picks the best way to create this plan?
Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The marketing process involves five steps. The first four steps create value for customers.
- First, marketers need to understand the marketplace and customer needs and wants.
- Next, marketers design a customer- driven marketing strategy with the goal of getting, engaging, and growing target customers.
- In the third step, marketers construct a marketing program that actually delivers superior value.
- All of these steps form the basis for the fourth step: engaging custom- ers, building profitable customer relationships, and creating cus- tomer delight. In the final step, the company reaps the rewards of strong customer relationships by capturing value from customers.
- He should follow the second option delegating some parts of the plan to subordinates