Transcript Strategic Planning and the Marketing Process

Strategic Planning
and the Marketing
Process
• Strategic Planning: The process
of developing and maintaining a
startegic fit between the
organisation’s goals and
capabilities and its changing
marketing opportunities.:
Steps in Strategic
Planning
• Defining the company mission
• Setting company objectives and
goals.
• Designing the business portfolio.
• Planning, marketing and other
functional strategies.
Marketing process
•
•
•
•
(1) Analysing marketing opportunities.
(2) selecting target markets
(3) developing the marketing mix, &
(4) managing the marketing effort.
Factors influencing company
marketing strategy.
• Target consumers stand in the centre. Company
wishes to build strong and profitable connections
with the customers.
• The company first identifies the total market,
then divided it into smaller segment, selects the
most promising segment and focuses on serving it.
• It designs a marketing mix.
• To find the best marketing mix and put it into
action, the company engages in marketing analysis,
planning, implementation and control.
1. Analysing marketing
opportunities
• Connecting with Consumers
• Sound marketing requires a careful
analysis of consumers.
• This process involves three steps:
market segmentation, market
targeting and positioning.
2. Selecting Target
Markets (STP process)
• Market Segmentation
• It means dividing the market into
distinct groups of buyers on the
basis of needs, characteristics, or
behaviour who might require separate
products or marketing mixes.
Market Targeting
• It involves evaluating each market segment’s
attractiveness and selecting one or more
segments to enter.
• A company should target segments in which it can
profitably generate the greatest customer value
and sustain it over time.
• A company with limited resources might decide to
serve only one or a few special segments called
“market niches”.
Market Positioning
• Market positioning is arranging for a
product to occupy a clear, distinctive, and
desirable place relative to competing
products in the minds of target consumers.
• Positioning of three luxury car companies:
Lexus, “the relentless pursuit of
excellence”, Jaguar positions as “a
blending of art and machine”, and
Mercedes is “engineered like no other car
in the world”
3. Developing the
Marketing Mix
• Marketing Mix: The set of
controllable marketing tools-product,
price, place and promotion-that the
firm blends to produce the response
it wants in the target market.
Marketing Mix Variables
Product
Place(Distrib
ution)
Goods, services, or ideas that satisfy
customer needs
The ready, convenient, and timely
availability of products
Promotion
Activities that inform customers about
the organization and its products
Pricing
Decisions and actions that establish
pricing objectives and policies and set
product prices
Product
Place(Distrib
ution)
Promotion
Pricing
Shape, size, taste, flavour, colour,
variety, quality, features, brand, style,
design, packaging
Wholesalers. Retailers, Exclusive
distribution, Channels, Transportation,
logistics, inventory
Advertising, PR, Personal Selling,
Direct marketing, Sales promotion
List Price, Allowances, Discounts,
payment period, credit terms.
Customer’s viewpoint
•
•
•
•
•
4 Ps
Product
Price
Place
Promotion
•
•
•
•
•
4 Cs
Customer solution
Customer Cost
Convenience
Communication
4. Managing the
Marketing effort
• Managing marketing deals with
• 1. Marketing Analysis: complete analysis of the
company.
• Marketing Planning: Deals with current situation,
opportunity & threats and marketing strategy.
• Marketing Implementation: Turning strategies
and plans into marketing actions
• Marketing Control: Process of measuring and
evaluating results of strategies and plans and take
corrective actions to ensure objectives are met.
Scope of Marketing
•
•
•
•
•
•
•
•
•
•
Products
Services
Places
Organisation
Properties
Information
Experience
Events
Ideas
Persons