Marketing April

8/6/2019 Marketing April

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STERLING INSTITUTE OF

MANAGEMENT

Div C

Group Member Roll No

Dinesh 07Sager 17Divyalochan 47Rahul 41Lakhvinder 18Parag 15

Principle of Marketing strategies



MARKETING IS THE MANAGEMENT

PROCESS THAT IDENTIFIES,

ANTICIPATES, SATISFIESCUSTOMERS REQUIREMENT

PROFITABLY.



What mean by marketing

strategy?????

Implications of marketing strategy:

Who are our existing / potential customers?

What are their current & future need/

How can we satisfy those needs? Why should buy from us?



Concept

Choosing & targeting appropriate customers

Positioning your offering

Interacting with those customers Continuity of performance



Marketing strategy

Process

Analysis

Objective Strategies

Tactics

Implementation



Product Life Cycle shows the stages that

products go through from development towithdrawal from the market

Product Portfolio the range of products acompany has in development or available forconsumers at any one time

Managing product portfolio is important forcash flow



Product Life Cycle (PLC):

Each product may have a different life cycle PLC determines revenue earned Contributes to strategic marketing

planning

May help the firm to identify when aproduct needs support, redesign,reinvigorating, withdrawal, etc.

May help in new product developmentplanning

May help in forecasting and managing cashflow



The Stages of the Product Life Cycle:

Development

Introduction/Launch

GrowthMaturity

Saturation

Decline

Withdrawal



Product Development: Stages

New ideas/possible inventions Market analysis is it wanted? Can it beproduced at a profit?Who is it likely to beaimed at?

Product Development and refinement

Test Marketing possibly local/regional

Analysis of test marketing results andamendment of product/production process

Preparations for launch publicity,marketing campaign



Introduction/Launch:

Advertising and promotion campaigns

Target campaign at specific audience?

Monitor initial salesMaximise publicity

High cost/low sales



Growth:

Increased consumer awareness

Sales rise

Revenues increaseCosts - fixed costs/variable costs,

profits may be made

Monitor market competitorsreaction?



Maturity:

Sales reach peak

Cost of supporting the productdeclines

Ratio of revenue to cost high

Sales growth likely to be low

Market share may be high

Competition likely to be greater



Saturation: New entrants likely to mean market is flooded Necessity to develop new strategies becomes

more pressing:

Searching out new markets:

Developing new uses

Focus on adapting the product Re-packaging or format

Improving the standard or quality

Developing the product range



Decline and Withdrawal:

Product outlives/outgrows itsusefulness/value

Fashions change

Technology changes

Sales decline

Cost of supporting starts to rise too far

Decision to withdraw may be dependent onavailability of new products and whetherfashions/trends will come around again?



Product Life Cycles

Sales

Time

Development Introduction Growth Maturity Saturation Decline



SEGMENTATION

Market segmentation is the segmentation of markets in tohomogenous groups of customers each of them reactingdifferently to promotion,communication,pricing and other

variables of marketing mix.



WHY MARKET SEGMENTATION?

Better serving customers needs and wants

Higher profits

Oppurtunities for growth Targeted communication

Stimulating innovation

Higher market shares



LEVELS OF MARKET SEGMETATION

Mass marketing

Niche marketing

Segment marketing

Micro marketing



CRITERIA FOR MARKET

SEGMENTATION Needs

Profilers

Geographic

Demographic

Psycographic

B

ehavioural



TARGETING

Targeting is the second stage of the SEGMENT"Target POSITION (STP) process

Identification of attractive market segment

Match the needs of customer

Homogenous group of customer

appeal



SINGLE PRODUCT WITH SINGLE

SEGMENT



SINGLE PRODUCT AT ALL

SEGMENT



MULTI SEGMENT APPROACH



POSITIONING AND RE-POSITIONING

�In marketing, positioning has come to mean the process by

which marketers try to create an image or identity in theminds of their target market for its product, brand, ororganization�Re-positioning involves changing the identity of a product,

relative to the identity of competing products, in thecollective minds of the target market.



POSITIONING IS ALL ABOUT

PERCEPTION



SIX STEPS QUESTION

1.What position do you currently own?

2.What position do you want to own?

3.Whom you have to defeat to own theposition you want.

4. Do you have the resources to do it?

5. Can you persist until you get there? 6.Are your tactics supporting the positioning

objective you set?



MAPS OF CARS



General sequence of steps that might be followed fordeveloping the pricing of a new product:

Develop marketing strategy - perform marketing analysis,segmentation, targeting, and positioning.

Make marketing mix decisions - define the product, distribution, andpromotional tactics.

Estimate the demand curve - understand how quantity demandedvaries with price.

Calculate cost - include fixed and variable costs associated with theproduct.

Understand environmental factors - evaluate likely competitor

actions, understand legal constraints, etc. Set pricing objectives - for example, profit maximization, revenue

maximization, or price stabilization (status quo).

Determine pricing - using information collected in the above steps,select a pricing method, develop the pricing structure, and define

discounts.



How pricing decision is depend upon the place,

promotion, product..



Pricing should take into account the

following factors:

Fixed and variable costs.

Competition.

Company objectives.

Proposed positioning strategies.

Target group and willingness to pay.



THANK YOU

Marketing April

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