2.the Marketing Mix Strategies

8/8/2019 2.the Marketing Mix Strategies

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` S.No. - 2/2

` LECTURE TITLE MARKETING STRATEGY &MARKETING MIX

1


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ICRI, Mumbai


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` STRATEGIC PLANNING The process of

developing and maintaining a strategic fit

between organisations goals and capabilities and

its changing marketing opportunities.` Sets the stage for rest of planning annuals plan,

long range plans, strategic plans Strategic plans- involves adapting the firm to take

advantage of opportunities in its constantly changingenvironments


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DEFININGCOMPANYS

MISSION

SETTINGCOMPANYS

ONJECTIVE

S & GOALS

DESIGNINGBUSINESS

PORTFOLIO

PLANNING

MARKETINGAND OTHER

FUNCTIONAL

STRATEGIES

CORPORATE LEVELBUSINESS UNIT,

PRODUCT,MARKET LEVEL


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Why is marketing planning

necessary? Systematic futuristic thinking by

management

better co-ordination of company efforts development of better performance

standards for control

sharpening of objectives and policies

better prepare for sudden new developments

managers have a vivid sense of participation


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Objectives of the marketing

plan Acts as a roadmap

assist in management control and

monitoring the implementation of strategy informs new participants in the plan of their

role and function

to obtain resources for implementation

to stimulate thinking and make better use

of resources


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Assignment of responsibilities, tasks and

timing

Awareness of problems, opportunities and

threats

Essential marketing information may have

been missing

if implementation is not carefully controlled

by managers, the plan is worthless!


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` Dont blindly rely on mathematical and statistical

calculations. Use your judgement as well

` Dont ever assume that past trends can be

exploited into the future forever` if drawing conclusions from statistical data, make

sure the sample size is sufficiently large


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`Analysis - where are we now?

` Objectives - where do we want to be?

` Strategies - which way is best?

` Tactics - how do we ensure arrival?

` Control - are we on the right track?


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` The executive summary

` table of contents

` situational analysis and target market

` marketing objectives` marketing strategies

` marketing tactics

`

schedules and budgets` financial data and control


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` Acts as an invisible hand

` MISSION A statement of the organisations

purpose- what it wants to accomplish in the larger

environment What is our business

Who is our customer

What do consumers value

What should our business be


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` Avoid making it too narrow or too broad

` Should be realistic & fit market environment

` Should be specific not too long/ too vague/ too

dull/ not sales or profit/` Should let employee feel they are doing

worthwhile and contribute to peoples life


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` NIKE- Bring inspiration and innovation to every

athlete in the world if you have a body you are an athlete

` eBay to provide a global trading platform wherepractically anyone can trade practically anything

you can get it on eBay

` Girls Scout of USA- Girl Scouting builds girls of

courage, confidence, and character, who make theworld a better place. To prepare young girls for motherhood and motherly

duties

`


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` Purpose: The purpose of the Movement is to

contribute to the development of young people in

achieving their full physical, intellectual, social and

spiritual potentials as individuals, as responsiblecitizens and as members of local, national and

international communities.


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` INFOSYS TECH

` Vision "To be a globally respected corporation that provides

best-of-breed business solutions, leveraging technology,delivered by best-in-class people."

` Mission "To achieve our objectives in an environment of fairness,

honesty, and courtesy towards our clients, employees,

vendors and society at large."


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` SLOGAN WE MAKE IT SIMPLE

` Complex pharmacoepia into simple & manageable

chemistry-

` VISION To become Asias leading and oneamong top 15 generic pharma companies in the

world by 2015

` MISSION to become most valued pharma

partner for world pharma fraternity by continuouslyresearching, developing & manufacturing a side

range of products complying with highest

regulatory standards.


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` VISION A world class engineering enterprise

committed enhancing stakeholder value.

` MISSION To be an Indian Multinational

Engineering Enterprise providing total businesssolutions through quality products, systems and

services in the fields of energy, industry,

transportation, infrastructure and other potential

areas


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` VISION to be the most efficient power company of the countrywith optimum utilisation of resources, to provide power to all, while

bringing reward to all its stakeholders

` MISSION- To develop and operate technically sound projects in cost

effective manner

To ensure best monitoring and maintenance techniques which

would offer us a competitive advantage in the industry.

To become world class transnational power company with

diversified sources of revenue & low business risks Maintain a high level of CSR in communities in which we operate

`


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` VISION- "To create a world-class integrated

healthcare delivery system in India, entailing the

finest medical skills combined with

compassionate patient care"` Virtuous Values

Vision : Imbibe and share the vision.

Integrity : Lead through honesty and integrity.

Respect : Earn respect.

Trust : Gain patient trust.

Understanding : Commit to compassion, care and understanding.

Own : Own quality excellence.

Uphold : Uphold innovation and continuous improvement.

Share : Develop and share success.

`


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` Turn its mission into detailed supporting objectives

for each level of management

` Each manager should have his objectives and

goals` MONSANTO

Mission to improve future of farmingimproving future of

food.abundantly and safely. to imagine innovative agriculture

that creates incredible things today.

OBJECTIVE to build profitable customer relationships by

developing better agricultural products and getting them to market

faster at lower cost>


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` Classify all businesses in a growth-share matrix

STAR

CASH COW

$DOG

QUESTIONMARK

?

RELATIVE MARKET SHARE

M

ARKE

TGROW

TH

RA

TE

HIGHGROWTH/

HIGHSHARE/

HEALVY

INVESTMENT

?LOWSHARE/

HIGH

GROWTH

$LOW

GROWTH/

HIGHSHARE

LOW

GROWTH/

LOWSHAREDOG


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` ONE invest more to build its share

` TWO invest just enough to hold its share to

current levels

` THREE harvest the unit, milking its short termcash flow regardless to long term effect

` FOUR divest the unit by selling it or phasing it

out and using resources elsewhere

` Life cycle of SBU-may change its position` Need to add new products and units


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` Need for growth

` Satisfy their customers

` Attract top talent

` Growth is oxygen. It creates vital enthusiastic

corporation where people see genuine opportunities

` Growth itself is not objective. Profitable growth is.

` Marketing must identify, evaluate, select market

opportunities and lay down strategies for capturing them


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` Deeper market

penetration

` Market

development

`

Productdevelopment

` DiversificationMarket

penetration

Marketdevelopment

diversification

Productdevelopment

Existing market

New markets

Existing products New products


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` 1. company case page 32 & 33 (Kotler 11th

edition)

` 2. company case- page 32 & 33 (Kotler 12th

edition)


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` The Marketing Mix is the set of controllable,

tactical marketing tools that the firm blends to

produce the response it want in the target market.

` The Marketing Mix consists of everything the firm

can do influence the demand for its product


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` Selling and Advertising are the only two

Marketing functions.

` Advertising and Sales are components of the

promotional element of the Marketing Mix

` Marketing Mix include Product, Price, and

distribution

` Marketing also includes Research,Information System an Planning.


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PRODUCT PRICE

PLACE PROMOTION

CUSTOMERSOLUTION

CUSTOMERCOST

CONVENIENCE COMMUNICATION

04PS

MARKETING MIX


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` Product : The goods and services combinationthe company offers to the target market

` Prices : The amount of money customers haveto pay obtain the product

` Place : Place includes company activates thatmake the product available to target consumers.

` Promotion : Promotion means activities thatcommunicate the merits of the product andpersuade target customer to buy it.


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` CustomerValue :

Customer Value difference between the

benefit the customer gain from owing and / or

using a product and the cost of obtaining the

product.

- One biggest challenges for Management is to

increase the Value of their Product for their

target market.

- Managers must know their customers and

understand what creates value for them.


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1. The purpose of a company is to create a customerThe only

profit center is the customer.2. A business has twoand only twobasic functions: marketing

and innovation. Marketing and innovation produce results: all the

rest are costs.

3. The aim of marketing is to make selling unnecessary.

4. While great devices are invented in the Laboratory, greatproducts are invented in the Marketing department.

5. Marketing is too important to be left to the marketing

department.


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CUSTOMER SEGMENTATION

MARKET SELECTION

VALUE POSITION

PRODUCT DEVELOPMENT

SERVICE DEVELOPMENT

PRICING

SOURCING & MARKETING

DISTRIBUTING & SERVICING

SALES FORCE

SALES PROMOTION

ADVERTISING

I. CHOOSE

THE VALUE

(STP)

II. PROVIDE

VALUE

III.

COMMUNICA

TE VALUE


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Strategic MarketingStrategic Marketing

Strategic marketing management is concerned with how we will

create value for the customer

Asks two main questions

What is the organizations main activity at a

particular time? Customer Value

What are its primary goals and how will these be

achieved? how will this value be delivered


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Strategic Planning is the managerialprocess of creating and maintaining a fitbetween the organizations objectives andresources and the evolving marketopportunities.

Also called Strategic Management Process

All organizations have this

Can be Formal or Informal

Strategic Planning is the managerialprocess of creating and maintaining a fitbetween the organizations objectives andresources and the evolving marketopportunities.

Also called Strategic Management Process

All organizations have this

Can be Formal or Informal

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CONTENTS of MARKETING PLANCONTENTS of MARKETING PLANBusiness Mission Statement

Objectives

Situation Analysis (SWOT)

Marketing Strategy

Target Market Strategy

Marketing Mix Positioning

Product

Promotion

Price

Place Distribution People

Process

Implementation, Evaluation and Control


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The Marketing ProcessThe Marketing Process

Business

MissionStatemen

t

Objectives

Situationor SWOTAnalysis

ImplementationEvaluation, Control

Target MarketStrategy

Marketing Strategy

Product

Promotion

Place/Distribution

Price

Marketing Mix


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` Printed Media

` Electronic Media

` Convention & Conference

` Workshops

` Website


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` The Psychology of Buying

` Selling to a Structure

` Communicating Your Message

` Effective Telephone Selling

` Question Technique` Benefits & How to Sell Them

` Objection Handling

` Closing Without Tears

` The Perfect Negotiation


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` Promotion is an Important Marketing Force the

provides an Extra Incentive for consumers, the

trade.

`

The sales force and other influential Groups


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` Marketing & Promotion through proper channel

` Create Brand Image

` Participation in

- National / International Conferences

- International Trade Fare & Exhibitation

- Workshops

- Research Paper- Camps


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` Sell the Product in International Market

` Trade Show and Trade Fairfor the Medical Tourism Industry is a

majori

nternati

onal trade fai

r...

` Market environment emphasizes the fairs appeal and its

importance as an international ...

`

Organize road shows abroad to attract foreign tourists to ourcountry


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