Marketing strategy


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Marketing strategy

  1. 1. Marketing Strategy<br />1<br />
  2. 2. Marketing as per Peter Drucker – the aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.<br />Chartered institute of marketing– marketing as the process of discovering, expecting and suiting the customer needs and at the same time making profits.<br />Marketing……<br />2<br />
  3. 3. In Greek – strategos means to lead.<br /> To be successful in business an organization should plan to utilize available resource.<br />Strategy helps organization to realize its mission and be successful.<br />Strategy……….<br />3<br />
  4. 4. <ul><li>To achieve long term goals….
  5. 5. Good Strategy ……</li></ul> What needs to be achieved?<br /> What it needs to be achieved?<br /> How it needs to be achieved?<br /><ul><li>Strategy helps….</li></ul> Business to develop.<br /> Sustain its competitive advantage.<br /> Build brand image.<br /> Enhance performance.<br /> Define market position.<br /> Create USP…. <br />Strategy………. In Business<br />4<br />
  6. 6. What to do..<br />What not to do…<br />Who the customers are…<br />What requirement of theirs to be met…<br />At what price…<br />Strategy………. Specifies…<br />5<br />
  7. 7. Scope --- Type of businesses , Industries, market segments (company operates or plans to)..<br />Goals --- Specific goals and objectives of the organization.<br />Resource allocation --- Human & Financial.<br /> Optimal utilization of available resources.<br />Sustainable competitive advantage --- comes from strength & core competence of organization.<br />Synergy --- Combined effort of various group working together.<br />Components of Strategy….<br />6<br />
  8. 8. 7<br />
  9. 9. 8<br />
  10. 10. 9<br />
  11. 11. Focuses on product or market.<br />Focuses on functional unit, department, or process within the business. <br />Functional level strategy.<br />10<br />
  12. 12. Strategic management & Marketing strategy<br />11<br />
  13. 13. Competitive strategy refers to how a company competes in a particular business.<br />Competitive strategy is concerned with how a company can gain a competitive advantage through a distinctive way of competing.<br />Competitive Strategy<br />12<br />
  14. 14. Sustainable competitive advantage is the focal point of your corporate strategy.  It allows the maintenance and improvement of your enterprise's competitive position in the market. <br />It is an advantage that enables business to survive against its competition over a long period of time.<br />Competitive Advantage of Corporate ………..<br />13<br />
  15. 15. Hilton & Marriott <br />Vs<br /> La Quinta Motor inns<br />Marketing strategy & competitive advantage -- CS<br />14<br />
  16. 16. Success in business depends on VISION & Competitive advantage.<br /> Vision vs. Mission<br />Vision –where the co. expects to be in future.<br />Mission –Basic purpose for which the co. is in business.<br />Marketing strategy & Competitive advantage….<br />15<br />
  17. 17. Business can achieve comp. Advantage by..<br />Focus on customers..<br />Analysis of requirements of buyers..<br />Identify gaps in service provided by the competitor product/ service..<br />Identifying unmet requirements.. To find opportunities..<br />Customer satisfaction analysis..<br />Competitive advantage.. <br />16<br />
  18. 18. Competence is the ability to perform a specific task, action or function successfully.<br />Success of an organization lies in identifying its ability to identify, develop, and take advantage of its core competences..<br />Competence..<br />17<br />
  19. 19. Provide access to wide variety of market.<br />Contributes by providing benefits which are perceived important by customer.<br />Difficult for competitors to imitate.<br /> Core Competence advantage..<br />18<br />
  20. 20. The link between the core competences and final product is CORE PRODUCT.<br />Honda Engines -- CS<br />Core Competence<br />19<br />