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d ? Developing strategies for downsizing the business portfolio. 2 14 Product/Market Expansion Grid Strategic Planning Existing Products New Products Existing Markets New Markets Market Peration Market Development Product Development Diversification 2 15 Planning Marketing ? Marketing plays a key role in the strategic planning process. ? Marketers must practice CRM and Partner Relationship Management. ? Partnering with other departments in the pany as well as other firms in the marketing system helps to build a superior value deliverywork. 2 16 The Marketing Process ? The strategic planning and business portfolio analysis processes help to identify and evaluate marketing opportunities. ? The purpose of the marketing process is to help the firm plan how to capitalize on these opportunities. ? Analyzing marketing opportunities ? Selecting target markets ? Developing the marketing mix ? Managing the marketing effort Key Elements 2 17 The Marketing Process ? The segmentation process divides the total market into market segments. ? Target marketing determines which segment(s) are pur