This document discusses strategic marketing and market-oriented strategies. It provides examples of analyzing markets through tools like PEST analysis and developing strategies at different business levels. It then discusses ICICI Prudential's strategy to explore the untapped retirement solutions market in India. Their approach involved repositioning retirement planning, setting aggressive sales targets, identifying their target audience of chief wage earners, and using a creative communication strategy across multiple media to ultimately exceed their sales goals and shift customer attitudes.

1. STRATEGIC MARKETING

2. What is…..???
• Strategy:
“strategy is a plan of action designed
to achieve a vision”

3. Key Parameters
• Direction
• Market scope
• Competitive advantage
• Resources
• Environment
• stakeholders

4. Strategy & Levels of Business
• Corporate strategy
• Business Unit strategy
• Operational strategy

6. Strategic Analysis
• PEST analysis
• Scenario planning
• Five forces analysis
• Market segmentation
• Competitor analysis
• SWOT analysis

7. The Need
• Difficult to define market boundaries
• Customers demanding “superior value”
• Customers becoming more aware
• External influences
• Innovation

8. Market-driven Strategy

9. FOCUS
• Market
• Customers that form the market

10. Characteristics
• Becoming market oriented
• Determining distinctive capabilities
• Matching customer value requirements with
capabilities
• Achieving superior performance

11. What is market oriented?
• Continuous creation of superior customer
value
• Use of superior organizational skills in
understanding & satisfying customers
• Ethical behavior within the organization &
with other stakeholders
• Support & involvement of entire work force
• Continuous monitoring

12. Market oriented…..
Continuous Monitoring:
• Changing customer needs & wants
• Impact of changes on customer satisfaction
• Increased rate of product innovation
• Build competitive advantage

13. Distinctive Capabilities
“the essence of strategy is in the activities---
choosing to perform activities differently or to
perform different activities than rivals”
---By Michael Porter

14. Challenges…..
• Globalization
• Technology diversity & uncertainty
• Ethical behavior & social responsiveness

15. ICICI Prudential
Exploring Retirement Solutions-The hidden Goldmine

16. Market Scenario
• 11% of working Indians were covered for post
retirement
• Increase of life expectancy
• Rising medical costs
• Inflation
• Low awareness
• Attitude as barrier

17. The Opportunity
• Sizable working population without
retirement cover
• 30 to 40 years age group a big market
• Retirement solutions not focused by LIC
• Very less contribution of pension products in
portfolio

18. The Challenge…..
• Re position the concept of retirement
planning
• Convince the consumers to invest early

19. Approach

20. Objective…..
• Creating a new market
• Fix sales target-INR 400 million
• Share in total pensions market- 10 %
• Contribution of pension to portfolio- 20 %

21. Target Audience
• Chief wage earner
• Retirement planning has low importance

22. Creative Strategy
“Retire from work & not from life”

23. Communication Programs
• Retirement solutions seminars
• Direct marketing campaign
• Retirement planner
• Retirement calculator

24. Multi-Media Strategy
Objective: Customer interaction through various
touch points using 24 hrs cycle
• TV
• Radio
• Print
• Outdoor
• Internet
• Direct Marketing
• PR

25. RESULTS
• 35000 calls
• 3000 e-mails
• High response rates from mailers
Change of Attitude:
The average age of a person investing in ICICI
Pru dropped to 38.5 yrs

26. RESULTS
• Sales achieved worth INR 740 million
• 23% share in pensions market