Marketing Strategy

Marketing strategy
The marketing plan is the central instrument for directing and coordinating the marketing effort. Strategic marketing plan target markets and value propositions that will be offered based on an analysis for the market opportunities Tactical marketing plan-market tactics ,including product features ,promotion ,merchandising ,pricing, sales channel, service.
Corporate and division strategic planning

Define the corporate mission-it must reflect the vision of the company ,its goals ,major policies and values ,various competitive spheres within which it operates-industry, product and applications, competence ,market segment ,vertical which means the number of channel levels from raw material to final product and distribution in which a company will participate., geographical area .
Strategic planning
Define the business-companies often define business in terms of products ,now it is in terms of customer needs. A business can be defined in terms of customer groups ,customer needs and technology Large companies manage different businesses each requiring its own strategy-SBU (strategic business units)
Strategic planning
1. 2. Assessing growth opportunitiesIntensive growth-review opportunities for improving existing products. company considers whether to gain more market share with its current products in their current markets (market penetration). whether it can develop new markets for existing products (market development ), or develop new products for its current markets (product development strategy ) . Company can review opportunities to develop new products for new markets (diversification strategy)
3. 4. 5.
Assessing growth opportunities

Integrative growth-a business sales and profits can increase through backward ,forward or horizontal integration. Forward-it can acquire its retailers Backward-it can acquire its suppliers Horizontal-it can acquire its competitors
Diversification growth
When good opportunities can be found outside the present businesses Types of diversifications Concentric strategy-new products that have technological or marketing synergies with the existing product ,even if they are meant for new customers Horizontal strategy-new products with new technology ,unrelated to the existing products, for current customers.
Types of diversification
Conglomerate strategy-new business that have no relationship with the current markets, technology or ,products. DOWN SIZING AND DIVESTING OLDER BUSINESS
BUSINESS UNIT STRATEGIC PLANNING

The business mission-aim of the company SWOT ANALYSIS-external environment (opportunity and threat )analysis, internal environment (strengths and weaknesses) Goal formulation-goals to describe objectives that are specific with respect to magnitude and time. They should be arranged hierarchically, stated quantitatively ,realistic and consistent.
Strategic formulation
Strategy is a game plan for achieving its goals. Porters generic strategies-overall cost leadership in terms of production cost etc, differentiation, focus on a particular segment. Strategic alliances-product or service alliance, promotional alliances, logistics alliances ,pricing collaborations.
Program formulation and implementation

Plan programmes in order to strengthen its R&D ,train technical sales force ,develop ads to communicate. In the implementing stage we need to focus on the cost involved, needs of the stakeholders-customers, employees, suppliers ,distributors.
Feedback and control

The organization must set up efficient mechanism to examine the changing environment and adopt new goals and behaviors. Hence respond to changing environment.
PRODUCT PLANNINGMARKETING PLAN

MARKETING PLAN summarizes what the marketers has learned about the market place and indicates how it plans to reach its marketing objectives. Contents of marketing planExecutive summary and table of contents Situation analysis-macro environment Marketing strategyFinancial projections Implementation controls
1. 2. 3. 4. 5.

Marketing Strategy

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Marketing Strategy

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Marketing strategy

Corporate and division strategic planning

Assessing growth opportunities

BUSINESS UNIT STRATEGIC PLANNING

Program formulation and implementation

Feedback and control

PRODUCT PLANNINGMARKETING PLAN

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