STRATEGIC MARKETING An Introduction Resource Person: Aly Raza Syed March 2009

STRATEGY

S=Spot T=Trend R=Review A=Apply T=Tactics E=Evaluate G=Greater Y=Yields.

STRATEGY After SPOTTING TRENDS externally, you have to REVIEW the organization internally (its policy, its tactics, its action plan and its Resources). Then you APPLY your TACTICS. You EVALUATE which strategies or tactics give you the GREATEST YIELD.

SMP The Steps

External Environment Opportunities & Threats Internal Environment Strategy Formulation Macro EnvironmentIndustry Environment Firms Resources, Organizational Mission & Goals Corporate Strategy Formulation Business Unit Strategy Formulation Functional Level Strategy Implementation Organizational Structure, Leadership Power & Culture Strategic Control Strategic Control Process & Performance

CORPORATE LEVEL BUSINESS UNIT LEVEL FUNCTIONAL LEVEL Levels of Management

Levels of Management. FAUJI FOUNDATION Factory Manager Factory Manager Marketing Manager Marketing Manager Admin Manager Admin FAUJI UPJOHN FAUJI UPJOHN FAUJI CEMENT FAUJI CEMENT FAUJI CEREALS FAUJI CEREALS

THE ENVIRONMENT

External Internal MacroMicro DEEP-LIST Suppliers Customers Competitors Intermediaries Controllable Variables Mission/Goals/ Objective 4 Ps Structure SOP’s

Market Types: Market Place Market Space Meta Markets

Consumer Market vs. Industrial Market

Needs Vs. Wants

Types of Competitors Direct Competitors Indirect Competitors Substitute Competitors Generics

Competition Market Leader Market Challenger Market Follower

Competitive Strategies

The Process of Marketing Market Segmentation Target Marketing Marketing Mix

SATISFACTION When customer gets Value –Total benefits > Total Cost Where Utility is created

The Market Mix The Four Hard P’s Product Price Place Promotion The Three Soft P’s People Process Physical Evidence

The Marketing Mix Product Place Price Promotion

Product Vs. Services Products: –Tangible

Services Intangibility Perishability Simultaneous Production and Consumption Heterogeneity

The Marketing Mix Product Promotion Place Price

Tool for Sales Promotion Coupons Premium Prices Rebates and discounts Sampling Sponsorships Event Marketing Trade Shows Product placement Public Relations Publicity

Advertising Newspapers Telephone Direct Mail Radio Yellow Pages Magazines Out of home Advertising: –POS/ Billboards/Posters/Banners/Wall Chalking Interactive Media –The Internet

PUSH vs. PULL Strategy

Unique Selling Prepositions

POSITIONING

The Marketing Mix Product Promotion Place Price

Distribution/Place Direct Indirect –Retailing –Wholesaling

Consumer Marketing Channels

The Marketing Mix Product Promotion Place Price

Market Penetration Pricing Market Skimming Pricing Par Pricing Psychological Pricing Uniform Pricing Geographic Pricing

Price Computation Strategies Cost Plus Pricing Strategy Demand Based Pricing Strategy Geographic Pricing EDLP Strategy Competitive Pricing Strategy Parity Pricing Strategy

The Extended Marketing Mix People Processes Physical Evidence

The Marketing Mix

Process

Physical Evidence

Benchmarking

Benchmarking in Quality. Your companies Quality Level Quality Level of Best Performer GAP Fill The Gap

Core Competencies

Resources are rare Resources are organized Resources are inimitable Resources are valuable Resources And Core Competence Core competencies

KAIZEN

NO PLEASE !!! W