Marketing & promotional process modal:Here we take closer look at how marketing strategies influence the role of promotion & how promotional decisions must be coordinate with other areas of marketing mix.Elements of marketing Mix: Consistent in strategic plan
Marketing and Promotions Process Model .Opportunity Identifying Product PromotionAnalysis Markets Decisions to Final . Promotional Buyer DecisionsCompetitive PricingAnalysis Decisions • Advertising Market • Direct Promotion Segmentation Marketing To Trade Ultimate Consumer • InteractiveTarget Distribution Marketing • ConsumersMarketing Decisions • Sales • Businesses Promotion Selecting a • Publicity and Target Market Public Relations • Personal Selling Positioning Through Marketing Strategies Resellers
Marketing Strategy & analysis:Making marketing strategy much sharp, company has to analyze following situation• Opportunity Analysis• Competitive Analysis• Target Market selection
Opportunity Analysis:It required careful opportunity analysis, which may lead the new opportunities. Company can identify opportunity by following way• Carefully examine the marketplace• Understand demand trend• Competition in different market segmentLike: Demand of PC may be vary in different market segment
.. Like: Demand of PC may be vary in different market segment Education Sector: advt based on educated people Home use: Advt based on Ladies & Children Science: Advt based on Engineers & Scientist Business market: Advt based on Company’s or CEO
Opportunity AnalysisCompany also look the nature of competitionLike: Most of the luxury-car segment (Lexus, BMW, Porsche, Mercedes) now have entered in SUVs market.Also most of luxury car segment shift to small car market. Like Nissan-Micra
Competitive Analysis:Here manager must carefully analyze the competition to faced in the marketplace. This may lead the direct competition apart from brand competition.Like:Brand competition:pepsi vs Coke,Maruti vs HyundaiBajaj vs hero HondaDirect competition:Coke/diet coke/more vs Pepsi/Diet pepsi/pepsi blue etcDue to this the target audience are different & segment of advt may affect & company has to choose the specific media.
Target Market selection:After being analyzed in competitive & opportunity point of view now it is the time to choose the market by selecting one & prepare the advertisement according to that particular product.Like: Honda launched Karizma to counter Pulsar of Bajaj
The Target Marketing Process . Identify markets with unfulfilled needs. Determine market segmentation Select market to target Position through marketing strategies
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Identify Market with unfulfilled needs:Company do following things• Identify the specific needs of the group of the people,• Select one or more of these segment• Develop marketing & advertisement programme.
There are following segmentation process Finding ways to group consumers according to their needs Finding ways to group the marketing actions Developing market-product grid Selecting the target segments Taking market action
Selecting a market to target:On the basis of segmentation three markets are available• Undifferentiated market: In this segment company ignore segment difference & just offer one product to the entire marketLike: Pepsi offered one cold drink for long time
Differentiated Marketing: Here company involves marketing in number of segments, developing different marketing strategy for each.Like:Maruti::800:Alto:Esteem:SX4:BalenoAction Shoe:: Sports: Adventure: Children: Adult
Concentrated Market: Here firm select one segment & attempts to capture all share of this market.Like: Barista Coffee,
Positioning through marketing Strategies: It is the art & science of fitting the product or service to one or more segments of the broad market in such a way so it set meaningfully apart from competition.Like: Mercedes, Armani