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Marketing Basics: Company & Marketing Strategy
- 1. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Principles of Marketing, Kotler, Armstrong, Agnihotri, Ehsan ul Haque 13th Edition
- 2. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
- 3. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning
- 4. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning • The mission statement is the organization’s purpose, what it wants to accomplish in the larger environment • Market-oriented mission statement defines the business in terms of satisfying basic customer needs 1.Not be myopic in product terms 2.Meaningful and specific 3.Motivating 4.Emphasize the company’s strengths 5.Contain specific workable guidelines 6.Not be stated as making sales or profits Eik achay mission statement kay ajza
- 5. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.
- 6. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks Howard Shultz
- 7. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks Howard Shultz • Creating a culture of warmth and belonging, where everyone is welcome. • Acting with courage, challenging the status quo and finding new ways to grow our company and each other. • Being present, connecting with transparency, dignity and respect. • Delivering our very best in all we do, holding ourselves accountable for results
- 8. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning
- 9. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad
- 10. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning Apple has always been different. A different kind of company with a different view of the world. It's a special place where we have the opportunity to create the best products on earth - products that change lives and help shape the future. It's a privilege we hold dear.
- 11. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Companywide Strategic Planning Business objectives •Build profitable customer relationships •Invest in research •Improve profits Marketing objectives •Increase market share •Create local partnerships •Increase promotion
- 12. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Life Cycle Time Sales Maturity Question Mark Star Cash Cow Dog
- 13. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM BCG Market Share & Growth Matrix
- 14. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Limitations • Difficulty in defining SBUs and measuring market share and growth • Time consuming • Expensive • Focus on current businesses, not future planning • Is blind to externalities: what is the state of the market itself? Is the category evolving? BCG Market Share & Growth Matrix
- 15. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix Market Penetration Market Development Product Development Diversification
- 16. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix Market Penetration Market Development Product Development Diversification Implications: • Increase customer loyalty • Penetration: Focus on Numeric Handling • Launch price or other special offer promotions • Increase your sales force's activities. • Buy a competitor company (particularly in mature markets)
- 17. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix Market Penetration Market Development Product Development Diversification Implications: You're trying to sell more of the same things to different people. • Use different sales channels, such as online or direct sales, if you are currently selling through agents or intermediaries. • Repositioning • Market Segmentation
- 18. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix Market Penetration Market Development Product Development Diversification Implications: Selling different products to the same people. • Extend your product by producing different variants, or repackage existing products. • Develop related products or services.
- 19. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix Market Penetration Market Development Product Development Diversification Implications: sell completely different products or services to different customers • Vertical Integrations • Conglomeration
- 20. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix: A very cola example Once upon a time… there was a Cola
- 21. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix: A very cola example Once upon a time… there was a Cola Which was very successful in its initial market
- 22. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix: A very cola example So now the managers asked themselves, “what next”?
- 23. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market We could start increasing the number of outlets in our existing market for our existing product.
- 24. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market …this is called increasing “Numeric Handling”
- 25. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market Being available on “weighted” outlets or Key Accounts.
- 26. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market We could increase our SKUs, appeal to a lower income segment or the segment which likes to watch its weight :p
- 27. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Juices Low Carb Drinks Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market For the Energizer Bunny in you, the company is offering an energy drink and juices.
- 28. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Juices Low Carb Drinks Snack Business Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market “Jou Cola peeta hai, woh kuch khaie ga nahien? Kuch namkeen hou jaie?”
- 29. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Juices Low Carb Drinks Snack Business New Local Locations Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market We could increase our markets, go into newer geographical markets within…
- 30. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Juices Low Carb Drinks Snack Business New Local Locations New International Market Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market And beyond…
- 31. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Product Ansoff Matrix: A very cola example Numeric Handling Weighted Handling Increased SKUs Juices Low Carb Drinks Snack Business New Local Locations New International Market Fashion Business Merchandise Penetration Market Dev. Product Dev. Diversification ExistingNew Existing New Market After being a really hot brand, we could enter the fashion market and sell T-shirts with our logo and make a killing ;)
- 32. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Ansoff Matrix: 9 Box Matrix Markets & Customers Products & Services
- 33. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Market Segmentation
- 34. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Segmentation Segmentation is the division of a market into distinct groups of buyers who have different needs, characteristics, or behavior and who might require separate products or marketing mixes
- 35. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Market Segmented by Age Segmentation
- 36. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Market Segmented by Gender Segmentation
- 37. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Market Segmented by Preferences and Tastes Segmentation
- 38. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Targeting process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Segmentation
- 39. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for? Strong Teeth
- 40. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for?
- 41. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for?
- 42. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for?
- 43. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for?
- 44. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Sensitive Teeth Bloody Gums Fresh Breath Tea Teeth Whitener Germ Protection Plaque Removal What are toothpastes used for?
- 45. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Positioning Is the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumer Positioning Thick Creamy desserts Extra Rich Perfect Guilt Trip Extra Large Extra Toppings Extra Flavors How are we positioned
- 46. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Differentiating How is our value offer different from others like it in the market? Differentiating the product to create superior customer value Differentiating More toppings than anyone else Creamier desserts Not your regular guilt trip! Largest sizes of desserts How are we Different?
- 47. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Value & Value Chain Value chain is a series of departments that carry out value- creating activities to design, produce, market, deliver, and support a firm’s products Value delivery network is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system
- 48. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Customer driven marketing strategy All the processes from segmentation, positioning, differentiation and to selecting the value chain network will lead to a customer driven marketing strategy
- 49. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing Mix After selecting the marketing strategy the marketing mix will be decided where each of the 4Ps will be separately classified
- 50. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM 4Ps Product Price Place Promotion 4Cs Customer Value Cost Convenience Communication The marketing mix from the perspective of the company The marketing mix from the perspective of the customer Marketing Mix
- 51. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Managing the Market Effort
- 52. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Market Analysis In the analysis stage, a marketer could do a SWOT Analysis to evaluate the Strengths, Weakness, Opportunities and Threats of the company.
- 53. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing Planning Executive summary Marketing situation Threats and opportunities Objective and issues Marketing strategy Action programs Budgets Controls Market planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives Basic elements of a Marketing Plan
- 54. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing Implementation Marketing implementation means turning strategies into action Successful implementation depends on how well the company blends its people, organizational structure, decision and reward system, and company culture into a cohesive action plan that supports its strategies Who Where When HowWhat Why Market Planning Market Implementation
- 55. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing Department Organization Marketing Department Groups of people and hierarchies which brings the marketing effort to life Four Types: 1. Functional 2. Geographic 3. Product 4. Customer
- 56. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing Control Marketing Control Evaluating the results of marketing strategies and plans and taking corrective actions to ensure objectives are attained Marketing Control involves four steps: 1. Management first sets specific goals. 2. Measure 3. Evaluate 4. Modify, Change etc Strategic ControlOperating Control
- 57. CORPORATE STRATEGY CH02 MOHAMMAD RAZA HUSAIN SPRING 2018 IoBM Marketing ROI Marketing ROI provides a measurement of the profits generated by investments in marketing activities. بغیر کے اسمارکیٹنگسکتی ہو نہیں