This document provides an overview of the 8-stage process for developing a comprehensive marketing strategy:
1. Defining strategic marketing objectives such as target markets and goals.
2. Determining strategic focus on market growth, share, or segments.
3. Defining customer targets by understanding market segments and choosing attractive ones to target.
4. Competitor analysis to understand alternatives and positioning.
5. Identifying sources of differential advantage over competitors.
6. Developing the marketing mix of product, price, place, and promotion.
7. Implementation of the marketing plan.
8. Monitoring market performance and revising the strategy as needed.
The case study describes how Symyx Technologies developed and executed an integrated go-to-market (GTM) strategy that grew revenue and bookings, penetrated new market segments, and increased brand equity for the Symyx Electronic Laboratory Notebook (ELN).
What is a Go-to-Market Strategy & How to Create OneCompellingPM
ย
We often hear other PMs and executives say the word Go-to-Market Strategy and everyone nods their heads as if they know exactly what the other person really meant. But the reality is that within any given organization, there are as many ideas of what Go-to-Market Strategy means as there are senior level executives. And when Product Marketing is asked to develop a Go-to-Market Strategy, they are unlikely going to satisfy the expectations of all stakeholders because each one has a different expectation. In this webinar, we'll help you to create a common understanding of a Go-to-Market Strategy and what Product Marketing needs to do to effectively create one.
Key Takeaways from participating in this webinar:
- Develop a common definition for a Go-to-Market Strategy that can be shared with your organization
- Learn the seven elements that go into a complete Go-to-Market Strategy
- Understand the steps to creating your Go-to-Market Strategy
The case study describes how Symyx Technologies developed and executed an integrated go-to-market (GTM) strategy that grew revenue and bookings, penetrated new market segments, and increased brand equity for the Symyx Electronic Laboratory Notebook (ELN).
What is a Go-to-Market Strategy & How to Create OneCompellingPM
ย
We often hear other PMs and executives say the word Go-to-Market Strategy and everyone nods their heads as if they know exactly what the other person really meant. But the reality is that within any given organization, there are as many ideas of what Go-to-Market Strategy means as there are senior level executives. And when Product Marketing is asked to develop a Go-to-Market Strategy, they are unlikely going to satisfy the expectations of all stakeholders because each one has a different expectation. In this webinar, we'll help you to create a common understanding of a Go-to-Market Strategy and what Product Marketing needs to do to effectively create one.
Key Takeaways from participating in this webinar:
- Develop a common definition for a Go-to-Market Strategy that can be shared with your organization
- Learn the seven elements that go into a complete Go-to-Market Strategy
- Understand the steps to creating your Go-to-Market Strategy
In the new economy, Brand Love is the new currency, with marketing shifting to building big ideas, leveraging purpose-driven stories that are in the moment, creating consumer experiences that people talk about, managing ubiquitous purchase moments all helping to steer the brandโs reputation. Marketing has to focus on creating a brand reputation with consumers, and equally creating an organizational culture that reflects the brandโs soul. Instead of shouting your message at every consumers, the best brands confidently whisper to those most motivated by what they do, who then scream with influence to their friends. In the new world, the best brands now fight for a place in the minds and hearts of consumers.
A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach customers and achieve competitive advantage. The purpose of a GTM strategy is to provide a blueprint for delivering a product or service to the end customer, taking into account such factors as pricing and distribution. A GTM strategy is somewhat similar to a business plan, although the latter is broader in scope and considers such factors as funding.
This is an example of a synthetic plan for a company that operates in different market segments, and with different sales channels. It is a simulated case that might be applied to any Company operating in the B2B business.
However, all the information must always be supported by real data, defendable during the Presentation to the Executive Board.
Neither the model, nor the information or numbers contained in the following templates belong to any real Marketing Plan or Company.
The presentation covers elements of a GTM plan, what makes it disruptive and how does one measure it. The presentation was used at the NASSCOM Product Conclave in Cochin held on 14 Dec 2016 by Sunder Madakshira.
Mark strat simulation( firm presentation)Evelyne Otto
ย
Final presentation of the marketing simulation outcomes. It explains the marketing mix strategies, evaluations, results, situation analysis.Why some decisions were made and their outcomes. Its the whole marketing project journey from the beginning to the end
Branding and communications workshop 2012Anna Quintero
ย
These are the materials I used to lead a workshop with my friends at Androidzoom (now known as Appszoom). Here you'll find the quickest vision on what Marketing is, and then a deeper detail on branding and communications to foster business growth.
110Marketing ManagementAssignment Two โ MKTM028BenitoSumpter862
ย
1
10
Marketing Management
Assignment Two โ MKTM028
Segmenting, Targeting and Positioning (STP)
NAME
UON ID
SUBMISSION DATE
7/9/2022
MODULE
MKTM028
WORD COUNT
2,400
LECTURER
Ms. Sally Lo
Table of Contents
INTRODUCTION 3
ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING 3
Market Segmentation 3
Market Targeting 5
Market Positioning 6
CASE STUDY 8
Vodafone 8
RECOMMENDATION 9
RRFERENCE 11
INTRODUCTION
With the use of target marketing, businesses may zero in on the most promising customer base. Rather of offering a comprehensive product line to accommodate all market groups, some companies may choose to focus on satisfying a narrower subset of clients who have a common business need (Supriono, 2018; Camilleri, 2017). One of the most important parts of any marketing plan is choosing the right target market. These procedures for making choices revolve on the time-tested marketing strategy framework of segmentation, targeting, and positioning (STP)]. Segmenting the market is a flexible strategy. Markets are broken down into subsets so that a corporation may target certain customer demographics with tailored product and service offerings. The word "targeting" refers to the method used to assess and choose the intended audience. Market positioning refers to the perceived position in the market where the company sees the product fitting (Orr et al, 2022). Due to its importance in determining a company's long-term performance, STP has been called "a critical necessity in marketing strategy". This report's primary purpose is to assess existing research on STP and to investigate the field's potential usefulness for industry by contrasting and contrasting a variety of sectors and companies.ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING
Market Segmentation
One of the first steps in making an overall marketing strategy is to do a market segmentation study. This helps you keep track of how the strategy is being made and makes sure the plan will work. Market segmentation is the process of dividing a market into submarkets based on a characteristic of the market. Among the things that make up a market are demographic trends, segment needs, consumer preferences, and regional dynamics. For market segments to be useful, they must be easy to find, easy to tell apart, measurable, important, actionable, and stable. Several academics say that companies have used a wide range of segmentation techniques, from those that are specific to each country to those that create groups on a global scale and then use differences in each country to make the most money. Differentiating segmentation strategies for a given group of customers depends on how the group buys and how well the brands are known in the market. This is true, according to research (Samson, 2016; Leonidou et al., 2002). Cluster analysis software or segmentation trees can be used to look at the different subgroups. The next step is to decide how many market niches the co ...
110Marketing ManagementAssignment Two โ MKTM028SantosConleyha
ย
1
10
Marketing Management
Assignment Two โ MKTM028
Segmenting, Targeting and Positioning (STP)
NAME
UON ID
SUBMISSION DATE
7/9/2022
MODULE
MKTM028
WORD COUNT
2,400
LECTURER
Ms. Sally Lo
Table of Contents
INTRODUCTION 3
ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING 3
Market Segmentation 3
Market Targeting 5
Market Positioning 6
CASE STUDY 8
Vodafone 8
RECOMMENDATION 9
RRFERENCE 11
INTRODUCTION
With the use of target marketing, businesses may zero in on the most promising customer base. Rather of offering a comprehensive product line to accommodate all market groups, some companies may choose to focus on satisfying a narrower subset of clients who have a common business need (Supriono, 2018; Camilleri, 2017). One of the most important parts of any marketing plan is choosing the right target market. These procedures for making choices revolve on the time-tested marketing strategy framework of segmentation, targeting, and positioning (STP)]. Segmenting the market is a flexible strategy. Markets are broken down into subsets so that a corporation may target certain customer demographics with tailored product and service offerings. The word "targeting" refers to the method used to assess and choose the intended audience. Market positioning refers to the perceived position in the market where the company sees the product fitting (Orr et al, 2022). Due to its importance in determining a company's long-term performance, STP has been called "a critical necessity in marketing strategy". This report's primary purpose is to assess existing research on STP and to investigate the field's potential usefulness for industry by contrasting and contrasting a variety of sectors and companies.ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING
Market Segmentation
One of the first steps in making an overall marketing strategy is to do a market segmentation study. This helps you keep track of how the strategy is being made and makes sure the plan will work. Market segmentation is the process of dividing a market into submarkets based on a characteristic of the market. Among the things that make up a market are demographic trends, segment needs, consumer preferences, and regional dynamics. For market segments to be useful, they must be easy to find, easy to tell apart, measurable, important, actionable, and stable. Several academics say that companies have used a wide range of segmentation techniques, from those that are specific to each country to those that create groups on a global scale and then use differences in each country to make the most money. Differentiating segmentation strategies for a given group of customers depends on how the group buys and how well the brands are known in the market. This is true, according to research (Samson, 2016; Leonidou et al., 2002). Cluster analysis software or segmentation trees can be used to look at the different subgroups. The next step is to decide how many market niches the co ...
In the new economy, Brand Love is the new currency, with marketing shifting to building big ideas, leveraging purpose-driven stories that are in the moment, creating consumer experiences that people talk about, managing ubiquitous purchase moments all helping to steer the brandโs reputation. Marketing has to focus on creating a brand reputation with consumers, and equally creating an organizational culture that reflects the brandโs soul. Instead of shouting your message at every consumers, the best brands confidently whisper to those most motivated by what they do, who then scream with influence to their friends. In the new world, the best brands now fight for a place in the minds and hearts of consumers.
A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach customers and achieve competitive advantage. The purpose of a GTM strategy is to provide a blueprint for delivering a product or service to the end customer, taking into account such factors as pricing and distribution. A GTM strategy is somewhat similar to a business plan, although the latter is broader in scope and considers such factors as funding.
This is an example of a synthetic plan for a company that operates in different market segments, and with different sales channels. It is a simulated case that might be applied to any Company operating in the B2B business.
However, all the information must always be supported by real data, defendable during the Presentation to the Executive Board.
Neither the model, nor the information or numbers contained in the following templates belong to any real Marketing Plan or Company.
The presentation covers elements of a GTM plan, what makes it disruptive and how does one measure it. The presentation was used at the NASSCOM Product Conclave in Cochin held on 14 Dec 2016 by Sunder Madakshira.
Mark strat simulation( firm presentation)Evelyne Otto
ย
Final presentation of the marketing simulation outcomes. It explains the marketing mix strategies, evaluations, results, situation analysis.Why some decisions were made and their outcomes. Its the whole marketing project journey from the beginning to the end
Branding and communications workshop 2012Anna Quintero
ย
These are the materials I used to lead a workshop with my friends at Androidzoom (now known as Appszoom). Here you'll find the quickest vision on what Marketing is, and then a deeper detail on branding and communications to foster business growth.
110Marketing ManagementAssignment Two โ MKTM028BenitoSumpter862
ย
1
10
Marketing Management
Assignment Two โ MKTM028
Segmenting, Targeting and Positioning (STP)
NAME
UON ID
SUBMISSION DATE
7/9/2022
MODULE
MKTM028
WORD COUNT
2,400
LECTURER
Ms. Sally Lo
Table of Contents
INTRODUCTION 3
ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING 3
Market Segmentation 3
Market Targeting 5
Market Positioning 6
CASE STUDY 8
Vodafone 8
RECOMMENDATION 9
RRFERENCE 11
INTRODUCTION
With the use of target marketing, businesses may zero in on the most promising customer base. Rather of offering a comprehensive product line to accommodate all market groups, some companies may choose to focus on satisfying a narrower subset of clients who have a common business need (Supriono, 2018; Camilleri, 2017). One of the most important parts of any marketing plan is choosing the right target market. These procedures for making choices revolve on the time-tested marketing strategy framework of segmentation, targeting, and positioning (STP)]. Segmenting the market is a flexible strategy. Markets are broken down into subsets so that a corporation may target certain customer demographics with tailored product and service offerings. The word "targeting" refers to the method used to assess and choose the intended audience. Market positioning refers to the perceived position in the market where the company sees the product fitting (Orr et al, 2022). Due to its importance in determining a company's long-term performance, STP has been called "a critical necessity in marketing strategy". This report's primary purpose is to assess existing research on STP and to investigate the field's potential usefulness for industry by contrasting and contrasting a variety of sectors and companies.ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING
Market Segmentation
One of the first steps in making an overall marketing strategy is to do a market segmentation study. This helps you keep track of how the strategy is being made and makes sure the plan will work. Market segmentation is the process of dividing a market into submarkets based on a characteristic of the market. Among the things that make up a market are demographic trends, segment needs, consumer preferences, and regional dynamics. For market segments to be useful, they must be easy to find, easy to tell apart, measurable, important, actionable, and stable. Several academics say that companies have used a wide range of segmentation techniques, from those that are specific to each country to those that create groups on a global scale and then use differences in each country to make the most money. Differentiating segmentation strategies for a given group of customers depends on how the group buys and how well the brands are known in the market. This is true, according to research (Samson, 2016; Leonidou et al., 2002). Cluster analysis software or segmentation trees can be used to look at the different subgroups. The next step is to decide how many market niches the co ...
110Marketing ManagementAssignment Two โ MKTM028SantosConleyha
ย
1
10
Marketing Management
Assignment Two โ MKTM028
Segmenting, Targeting and Positioning (STP)
NAME
UON ID
SUBMISSION DATE
7/9/2022
MODULE
MKTM028
WORD COUNT
2,400
LECTURER
Ms. Sally Lo
Table of Contents
INTRODUCTION 3
ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING 3
Market Segmentation 3
Market Targeting 5
Market Positioning 6
CASE STUDY 8
Vodafone 8
RECOMMENDATION 9
RRFERENCE 11
INTRODUCTION
With the use of target marketing, businesses may zero in on the most promising customer base. Rather of offering a comprehensive product line to accommodate all market groups, some companies may choose to focus on satisfying a narrower subset of clients who have a common business need (Supriono, 2018; Camilleri, 2017). One of the most important parts of any marketing plan is choosing the right target market. These procedures for making choices revolve on the time-tested marketing strategy framework of segmentation, targeting, and positioning (STP)]. Segmenting the market is a flexible strategy. Markets are broken down into subsets so that a corporation may target certain customer demographics with tailored product and service offerings. The word "targeting" refers to the method used to assess and choose the intended audience. Market positioning refers to the perceived position in the market where the company sees the product fitting (Orr et al, 2022). Due to its importance in determining a company's long-term performance, STP has been called "a critical necessity in marketing strategy". This report's primary purpose is to assess existing research on STP and to investigate the field's potential usefulness for industry by contrasting and contrasting a variety of sectors and companies.ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING
Market Segmentation
One of the first steps in making an overall marketing strategy is to do a market segmentation study. This helps you keep track of how the strategy is being made and makes sure the plan will work. Market segmentation is the process of dividing a market into submarkets based on a characteristic of the market. Among the things that make up a market are demographic trends, segment needs, consumer preferences, and regional dynamics. For market segments to be useful, they must be easy to find, easy to tell apart, measurable, important, actionable, and stable. Several academics say that companies have used a wide range of segmentation techniques, from those that are specific to each country to those that create groups on a global scale and then use differences in each country to make the most money. Differentiating segmentation strategies for a given group of customers depends on how the group buys and how well the brands are known in the market. This is true, according to research (Samson, 2016; Leonidou et al., 2002). Cluster analysis software or segmentation trees can be used to look at the different subgroups. The next step is to decide how many market niches the co ...
Marketing represents the boundary between the marketplace and the company, and knowledge of current & emerging happenings in the marketplace is extremely important in any strategic planning exercise.
Before 1900, despite its weaknesses in effective management of worke.pdfarishaenterprises12
ย
Before 1900, despite its weaknesses in effective management of workers, manufacturing
leadership was well provided by top management. They were technological entrepreneurs,
archictects of productive systems, veritable lions of industry. But when they delegated their
production responsibilities to a second-level department, the factory institution never recovered
its vitality. The lion was tamed. It\'s management systems became protective and generally were
neither enterpreneual nor strategic. Production managers since then have typically had little to do
with initiating substantially new process technology-in contrast to their predecessors before 1900
(skinner 1985).
D) how is Japan (or Germany) different from (or the same as) America with regards to this trend
in manufacturing leadership?
E) taking the structural charestaristics of manufacturing enterprises (e.g., scale, complexity, pace
of technological change) as given, what can be done to revitalize manufacturing leadership?
Solution
Strategic Windows: their nature.
The nature and purpose of strategy and how it is formulated. The nature of marketing strategy
and how this should take account of the interests of various stakeholders when involving such
things as, product/service development and delivery, promotional mix, support services,
manufacturing and production processes, R&D, and material purchasing affect the stakeholders.
Other factors in the business environment that influence marketing strategy: political, economic,
socio-cultural and technological (PEST).
Marketing and competitors: how a firm must be able to position itself competitively in the minds
of its customers so that its products and services stand out very favourably in important respects
in relationship to competitors.
Matching the firmโs products / services with opportunities and threats in the market place. The
limited periods during which the fit between the key requirements of a market and the particular
competencies of a firm competing in that market are at an optimum. Investment in a product line
or a market area should be timed to coincide with periods during which a strategic window is
open. Correspondingly, withdrawal should be considered where something which was a good fit,
is no longer a good fit. Ways in which a market can evolve and how firms might develop a
competitive strategy to take advantage of Strategic Windows.
Portfolio Analysis
How organisations create their own environments rather than simply adapt to existing ones. How
they select the strategic windows of opportunities and threats through which they want to look
out into the world and develop and market product and services to meet the needs of what they
observe to be required in the face of environmental turbulence.
How well the fit between an organizationโs products/services meet the needs presented by the
windows of opportunities and threats is a fitting start for exploring the subject of strategic
marketing. It introduces the many factors t.
Market EnvironmentUsing what you have learned from your reading th.docxdrennanmicah
ย
Market Environment
Using what you have learned from your reading this week, research REI and develop a profile of its marketing environment. Use the REI Marketing Environment Worksheet to develop your analysis. Submit your worksheet to the assignment area.
--------------------------------------------------------------------------------------------
How To Write a Marketing Plan
The Marketing Plan is a highly detailed, heavily researched and, hopefully, well written report that many inside and possibly outside the organization will evaluate. In many respects, the Marketing Plan is the most important document produced by marketers as it not only helps to justify what has occurred in the past, but is critical for explaining where a company intends to go in the future.ย
Th Marketing Plan is widely used by both large large corporate marketing departments and also by small startup companies.ย It is particularly important for marketers who seek funding for new projects or to expand existing products or services.
Essentially the Marketing Plan:
forces the marketing personnel to look internally in order to fully understand the results of past marketing decisions.
forces the marketing personnel to look externally in order to fully understand the market in which they operate.
sets future goals and provides direction for future marketing efforts that everyone within the organization should understand and support.
is a key component in obtaining funding to pursue new initiatives.
The Marketing Plan is generally undertaken for one of the following reasons:
Needed as part of the yearly planning process within the marketing functional area.
Needed for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem.
Is a component within an overall business plan, such as a new business proposal to the financial community.
There are many ways to develop and format a marketing plan. The approach taken here is to present a 6-Part plan that includes:
Purpose and Mission
Situational Analysis
Marketing Strategy and Objectives
Tactical Programs
Budgets, Performance Analysis and Implementation
Additional Consideration
This plan is aimed at individual products and product lines, however, it can be adapted fairly easily for use in planning one or more strategic business units (SBU). The page length suggested for each section represents a single-spaced typed format for a plan focused on a single product. Obviously for multi-product plans lengths will be somewhat longer.
It is assumed that anyone developing a Marketing Plan possesses a working understanding of marketing principles. If you do not, it is suggested you spend considerable time learning about basic marketing through the previous sections of theย
Principles of Marketing Tutorials
.
Part 1
Part 1 of the plan is designed to provide the reader with the necessary information to fully understand the purpose of the marketing p.
Entrepreneurship Summit Iit Kgp How To Write A Business Plan 03 11 2007Prof Parameshwar P Iyer
ย
This presentation makes a strong case for engineers to turn their technical ideas into creative businesses. It explains the benefits of risk taking, taking ownership, and creatively innovating for new businesses. It also gives the do's and don'ts of writing an effective business plan.
Presents frameworks and methodology for building those segments of a company which are vital to long term sustainability. The systematic process of identifying business strategy, marketing, and a mission statements which articulates the developed value proposition. This framework enables companies to build a brand that helps target the identified market.
Innovative competitive advantages in business notesAylya B.S
ย
This paper is based on the role of innovation and competition in business which changed the trend of business. That made harder to sustain in an environment for a business man to be stable and requires constant management and analysis of the business, competitors, customers etc.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
ย
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
ย
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. Youโll also learn
โข Four (4) workplace discipline methods you should consider
โข The best and most practical approach to implementing workplace discipline.
โข Three (3) key tips to maintain a disciplined workplace.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
ย
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
ย
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Putting the SPARK into Virtual Training.pptxCynthia Clay
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
"๐ฉ๐ฌ๐ฎ๐ผ๐ต ๐พ๐ฐ๐ป๐ฏ ๐ป๐ฑ ๐ฐ๐บ ๐ฏ๐จ๐ณ๐ญ ๐ซ๐ถ๐ต๐ฌ"
๐๐ ๐๐จ๐ฆ๐ฌ (๐๐ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
๐๐ ๐๐จ๐ฆ๐ฌ provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
โญ ๐ ๐๐๐ญ๐ฎ๐ซ๐๐ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ:
โข 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
โข SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
โขFreenBecky 1st Fan Meeting in Vietnam
โขCHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
โข WOW K-Music Festival 2023
โข Winner [CROSS] Tour in HCM
โข Super Show 9 in HCM with Super Junior
โข HCMC - Gyeongsangbuk-do Culture and Tourism Festival
โข Korean Vietnam Partnership - Fair with LG
โข Korean President visits Samsung Electronics R&D Center
โข Vietnam Food Expo with Lotte Wellfood
"๐๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ง๐ญ ๐ข๐ฌ ๐ ๐ฌ๐ญ๐จ๐ซ๐ฒ, ๐ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ. ๐๐ ๐๐ฅ๐ฐ๐๐ฒ๐ฌ ๐๐๐ฅ๐ข๐๐ฏ๐ ๐ญ๐ก๐๐ญ ๐ฌ๐ก๐จ๐ซ๐ญ๐ฅ๐ฒ ๐ฒ๐จ๐ฎ ๐ฐ๐ข๐ฅ๐ฅ ๐๐ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐จ๐ฎ๐ซ ๐ฌ๐ญ๐จ๐ซ๐ข๐๐ฌ."
1. Marketing strategy and planning
Introduction
This learning guide was written by Sara Panter, an associate tutor at Ashridge. It is one of a
series produced by the Learning Resource Centre. Each guide sets out to give you a quick
summary of the main theories on a particular topic backed up by a practical commentary
based on Ashridge's long experience of consulting on and teaching management issues. We
hope that it whets your appetite for more information. The guide points you in the direction of
other sources such as key books, articles and videos.
Overview
Introduction
Stage one: Defining strategic marketing objectives
Stage two: Determining strategic focus
Stage three: Defining customer targets
Stage four: Competitor analysis
Stage five: Differential advantage
Stage six: Marketing mix
Stage seven: Implementation
Stage eight: Monitoring market performance
Introduction
The terms marketing strategy and strategic market planning are often used interchangeably,
which sometimes leads to confusion. We will use the term marketing strategy to mean the
overall strategy of an organisation in relation to a particular market. In this learning guide we
will explore the process of analysis and decision making which organisations go through as
they define and implement their approach to that market. Marketing plans will form part of this
process, in particular when it comes to implementation.
Key aspects of the process are that it is cyclical, ie subject to constant review and reiteration;
that it is dynamic, subject to changes in the environment (including customers and
competition); and that it should be shared within the organisation, rather than being the sole
preserve of the marketing department, if it is to be wholeheartedly adopted and implemented
by the whole organisation.
Two interrelated trends in marketing approaches have changed the emphasis of marketing
strategy in recent years. These are relationship marketing and customer economics. The
increased use of sophisticated database information in marketing has helped further the
adoption of these two approaches and indeed both require such information in order to be
successfully implemented. If you are specifically interested in relationship marketing, there is
a further learning guide specifically on this topic.
This overview will introduce a framework for the steps to be followed in a comprehensive
marketing strategy process, the information and analysis required at each stage and the
decisions to be taken at each stage. There are of course other possible frameworks and
approaches which would be equally acceptable, provided all the key steps are included. What
is crucial is to see each stage, and the whole process, as dynamic and iterative.
2. Fig.1 : Components of marketing strategy
Source: Doyle, P. et al. Japanese Marketing Strategies in the UK: A Comparative study,
Journal of International Business Studies Vol. 17(1) Spring 1986. Reprinted with permission
from Butterworth Heinemann.
Stage one: Defining strategic marketing objectives
These will to a large extent be determined by corporate strategy, and will answer such
questions as: which markets should we compete in? what should be our targets, in terms of
market share and profitability, in these markets?
The answer to the first question will be determined by the inherent attractiveness of the
market and our ability to compete in it. A market may be attractive for a number of reasons:
because there are high profits to be made in it; because it is growing; because it fits in well
with or fills a gap in our existing portfolio. It is useful at this stage to carry out some structured
analysis using a framework such as Michael Porter's Five Forces of Competition (see Fig. 2.
below) or SWOT analysis.
3. Fig. 2. Porter's "Five Forces of Competition" analysis
ยฉ Porter, M.E. (1980) "Competitive Strategy" New York, The Free Press. Reprinted with
permission
It is crucial, however, to ask not just whether the market is inherently attractive, but whether it
matches our capability profile: in other words, do we have particular strengths which will give
us an advantage in the market? A good marketing strategy may be determined as much by
those markets we choose not to enter as by those we do.
Targets will be expressed in terms of market share or profitability, or possibly both. For
example, in an early stage of the stage in the market life cycle, an organisation may
concentrate on building share at the expense of profitability, or at a later stage may be
content for share to remain static whilst profits are high.
Stage two: Determining strategic focus
Having decided which markets to compete in, the question of how to compete can be
addressed. Should the focus be on growing the overall size of the market, or on taking a
bigger share of an existing market (penetration)? In order to do this, should we be
concentrating on getting existing customers to use more of our product, or on finding new
customers or even new segments? Or can we only increase share by taking customers from
our competitors?
The answers to these questions will depend largely on what stage has been reached in the
life cycle of the market for this product. This in turn will determine whether the market is fairly
homogeneous or divided into segments or sub-segments. The more mature the market, the
more fragmented it tends to be.
4. Fig. 3.
ยฉ Arnold, David (1992) The Handbook of Brand Management, Century Business. Reprinted
with permission from FT Management.
The product market life cycle
Total sales in a particular product market will tend to follow the curve shown in Fig. 3 above
over a period of time. That period of time may span a hundred years or more (as would be the
case for, say, washing powder or banking services) or it may be much shorter, in the case of
technological innovations such as the cassette recorder or fashion-related items such as
particular types of clothes or music. Each stage in the so called product market life cycle has
different characteristics in terms of customers, competition, and company priorities.
1. The introductory phase
Unfamiliar with or unaware of product category. Those who do buy
likely to be more experimentalist by nature. Sales low
Likely to be low
Competition:
Encourage trial. Work with customers on product development to
Company priorities: improve aspects such as packaging or documentation, or to eliminate
"teething troubles"
Customers:
2. The growth phase
Growing in numbers. Segments begin to appear. May be less price
sensitive as category benefits more widely known
Growing as new entrants appear.
Competition:
Build share by concentrating on distribution, creating alliances where
Company priorities:
appropriate to do this
Customers:
3. Early maturity
Customers:
Competition:
Segmentation is now more distinct and customer loyalty established
as repeat purchases take place
Intense as players attempt to secure their share
5. Company priorities:
Differentiate to attract and retain customers in specific target
segments
4. Late maturity
Customers:
Knowledgeable, may demand low prices and high service levels
Intense due to lack of market growth and difficulty of further
Competition:
differentiation. May be price based
Attempt to lengthen life cycle by innovation, re-inventing product
Company priorities:
category before decline stage
5. Decline
Customers:
Late adopters, eg first time buyers of microwaves or VCRs
May come more from substitute products or services than direct
Competition:
competition, eg plastic instead of steel components; on line services
instead of libraries or hard copy journals
Company priorities: Re-define market whilst milking profits in early part of decline stage.
Stage three: Defining customer targets
The first step in defining customer targets will be to understand the structure of the market in
terms of what segments exist and what alternative ways of segmenting the market might be
possible. It is important to remember in this context that segmentation is a characteristic of
the market, not something which marketeers impose upon it. In seeking to gain a better
understanding of different customers' perception of value, marketeers may see certain
customers with similar characteristics and perceptions as belonging together as a distinct
segment, but unless those similarities actually exist, the segmentation and the target will be
meaningless. Customers within one segment should be similar to each other in ways which
are important for how, when, what and why they buy, and different from customers in other
segments. Organisation's which find new ways of segmenting a market may also find new
ways of differentiating their offering in response to a particular segment's perception of value,
and will therefore gain an advantage over their competitors.
Once we have a clear view of market structure, we need to decide which segment or
segments to target. Certain elements will tend to make a segment attractive:
size.
growth.
profitability.
fit with company strengths.
relative weakness of competition.
The issue of customer economics, or choosing the right customer portfolio, is vital.
Organisation's can waste large amounts of resources pursuing customers who are not
sufficiently profitable, or are unattractive in other ways. This is even more important given the
recent emphasis on building customer relationships. This is usually an expensive and time
consuming business, so organisation's need to be sure that they are building relationships
with the right customers. It is not usually possible or desirable to build relationships with all
customers.
As part of this stage, it will be decided whether to target only one segment, or several
segments at once. Clearly this decision will be influenced by such factors as:
6. available resources.
danger of brand contamination.
opportunity for economies of scale in manufacturing, marketing or distribution.
Stage four: Competitor analysis
In practice, it is clear that the analysis of competitors and the selection of customer targets will
go hand in hand, since the one will exert a strong influence on the other. The decisions to be
taken at this stage will relate to competitive positioning and competitive strategy.
Competitor analysis is a big topic and has an important role to play at the level of corporate
strategy as well as in the marketing strategy process. If you want to look more specifically and
in greater depth at competitor analysis, there is a separate learning guide on this topic. In the
context of developing a marketing strategy, there are particular areas of competitor analysis
to be considered. The specific questions which competitor analysis must answer at this
market specific level are:
what does the customer buy when he does not buy my product?
what is his perception of these alternatives and how does it compare with his
perception of my product?
what do I know or what can I infer about my competitors' strategies in relation to their
products?
In answering the first question, it may help to consider at what level does the competition
pose a threat in this market? There are a number of different possible levels of competition:
budget level. The customer is choosing between spending his/her budget in two
completely different ways, to meet completely different needs. To use an example
from the regional newspaper industry: does the customer buy the local paper or a bar
of chocolate?
generic competition. The competitive product delivers the same benefit but in a
different way: instead of buying the local paper, the customer listens to local radio.
product category competition. Here the customer may choose between different
product categories within the same industry: the customer buys a national daily
newspaper instead of the local one, or reads the free local paper delivered through
his door, instead going out and buying one.
brand competition. This is the most direct form of competition: does the customer
buy one local title or the other?
Organisation's will often be aware of direct brand competition, but less knowledgeable about
the encroaching threat of competition at a lower level. The level at which the competitive
threat is the strongest will obviously have serious implications for the organisation's strategic
priorities.
The second question relates more to the positioning of competitive products in the mind of
the customer. The use of perceptual maps may help. Perceptual maps use the results of
market research to map consumers' perceptions of competing brands in relation to attributes
they consider important in determining value.
They are a useful tool in determining strategies, because marketeers can see the major
threats to their brand as well as the different directions in which they could move. Perceptual
maps are discussed in more detail in David Arnold's book, The Handbook of Brand
Management (1992) Century Business, pp.84 ff.
7. The third question requires some thinking around the role of the particular competitive
product in the competitor's portfolio as a whole. Portfolio management tools such as the
Boston Consulting Group Matrix or the Directional Policy Matrix will probably be useful here.
They are described briefly below.
Fig. 4. The product portfolio matrix
The BCG product portfolio matrix classifies products according to two measures, market
growth and relative market share. According to their position on the matrix, products are
known as problem children (or question marks), stars, cash cows or dogs.
Organisation's will tend to have a number of problem children at once, products at an early
stage of the life cycle, having low market share in a fast growing market. They require a great
deal of investment and support, but only some of them will survive to become mature
products which can contribute to the organisation's overall revenues.
Once products have succeeded in growing their market share, and whilst the market itself is
still in its growth phase, they are known as stars. These products still require substantial
investment to sustain their high market share position, but they are at the same time
generating positive cash flows themselves.
As the market moves into maturity and growth slows down, products with high market share
are classified as cash cows, able to generate cash whilst requiring less support than before.
These cash flows can therefore be used to support other products in the other categories.
Finally, products with low market share in a low growth market are known as dogs. They may
still generate some cash, but as the market moves into decline, it will not be worth it for
organisation's to invest money or effort in them. Instead they are advised to cut back
investment as much as possible (harvesting) or, if possible, to move out of the market
(divestment).
Clearly, the BCG matrix can be used by an organisation to analyse its own or its competitors'
products. Both will be useful for the purpose of competitive positioning.
The Directional Policy Matrix is also a two dimensional model but incorporates a number of
different elements into each dimension. It is therefore more complex and also more subjective
8. than the BCG model. (see Fig.5) It can be used to plot brands, products, geographical areas
or market segments and helps managers to think through their strategy for each element in
the company's portfolio (or to make assumptions about their competitors' likely strategy). The
size of each circle drawn on the matrix may represent size of turnover or, if known, profit
margin.
Fig. 5. The directional policy matrix
ยฉ Adapted from Abell, Derek F. & Hammond, John S. (1979) Strategic Market Planning:
Problems and Analytical Approaches, p213. Reprinted with permission of Prentice Hall Inc.
The two axes of this matrix are market attractiveness and relative strength versus the
competition. Clearly, an organisation will aim to have as many products as possible in the top
left hand corner, ie in a strong competitive position in an attractive market. It will almost
certainly have other products in the middle of the matrix (in an attractive market but in a
relatively weak competitive position) and even in the right hand corner (a weak product in an
unattractive market).
Looking at the portfolio in this way will help with deciding priorities and allocating resources.
For example, how much will it cost to keep a product in the top right position ? What other
products may threaten it ? If a product is in the top middle square, what resources or tactical
moves would it take to shift it over to the right ? And for the product in the bottom left - should
it be harvested ? or is it possible to shift it?
Stage five: Differential advantage
Differential advantage, or competitive advantage, describes the ways in which one
organisation's offering is different from and better than another's. This gives the company an
advantage over its competition. Differential advantage may come from a variety of sources:
superior position, superior skills or superior resources.
Superior position
eg lower costs (perhaps due to location); incumbent position (eg distribution network);
relationships
Superior skills
eg specialised knowledge, technical expertise, organisational skills such as flexibility
9. Superior resources
eg financial resources, geographical coverage, exclusive ingredients, experienced people
Whatever the source of differential advantage, it must offer real value to the customer in that it
meets his/her needs in a distinctive way, and is in some way better than the competition. It is
the meeting point of the three C's of customer, competition and company resources.
Differential advantage is at the heart of a marketing strategy and should be based on all of the
preceding analysis. It can then be translated into a practical marketing plan covering the four
P's of the marketing mix.
Stage six: Marketing mix
The "marketing mix" refers to the various elements of a company's offering in the market
place: the product or service itself, including its packaging; the price, including any discounts
or payment terms; the place, or distribution method; and the promotional mix by which the
offering is communicated to the market place.
Fig. 6.
In addition to the traditional "four Ps" (Borden, The Concept of the Marketing Mix, Journal of
Advertising Research, Vol. 4, June 1964), subsequent writers have talked about the need to
include physical evidence, process and people, particularly where service products are
concerned. For example, if buying an intangible financial services product such as a
mortgage, the building society's offices, the ease and speed with which an application can be
made, and the way in which the society's staff deal with their customers will all influence the
customer's perception of the offering.
10. The marketing plan can be produced at this stage, and will include a definition of the target
market segment(s), the source of differential advantage, and a list of actions under each of
the marketing mix headings, with timings, budget and responsibilities allocated.
The marketing mix approach simply says that all the messages the customer receives must
be consistent with each other and help to communicate the differential advantage (sometimes
called the value proposition). Some have argued that the concept is outdated, relying too
much on the marketing department to implement it, and needs to be replaced by a more
company wide approach. It is certainly true that consistency and an integrated approach are
vital in implementing marketing strategy.
Stage seven: Implementation
The implementation of marketing strategy demands good communication between the
marketing function and the other parts of the organisation. The McKinsey "Seven S" model
(Peters, T. & Waterman, R. (1982) "In Search of Excellence" New York, HarperCollins) may
be used as a checklist to ensure that all the elements involved in implementing the strategy
are consistent with each other and with the strategy itself. The "seven S's" are:
Strategy itself - supported by
Skills - what distinctive core tasks (functional or organisational) is the company good at
performing?
Shared values - what is the culture of the company? What behaviour or achievements are
rewarded?
Style - what is the management style? How do things get done round here?
Staff - what are the people like? What is their educational or business background? What is
likely to motivate them? How is their morale?
Systems - what formal systems are in place that may help (or hinder) implementation? (these
could be reward systems, monitoring systems, customer service systems?) What about the
informal systems?
Structure - what structures are in place that may help (or hinder) implementation? Is there a
flat management structure? Are there (for example) project management teams, or is the
organisation structured along purely functional lines?
Stage eight: Monitoring market performance
Ideally a marketing plan should also include performance targets in terms of sales and
contribution, customer satisfaction, or any other measures deemed appropriate. There is a
trend towards the use of non-financial measures in monitoring company performance.
(Kaplan, R. S. & Norton, D.P. (1996) The Balanced Scorecard, Harvard Business School
Press). The information needed for such measurements is often difficult to obtain, but as
feedback mechanisms showing whether or not a strategy is being successfully implemented,
they may be more useful than traditional quantitative measures. the learning guide on
performance management has more information about the balanced scorecard approach.
11. Development activities
Cross functional groups will often give valuable insights, as well as helping to improve
communication within the organisation. In a cross functional group, work through the
marketing strategy process - or take one stage and work through that. Useful frameworks for
discussion might be:
the directional policy matrix
Divide the group up into trios and ask each to plot the company's main products onto a flip
chart or acetate. Then in plenary, compare the results. This should give rise to some
interesting discussion! Then raise the question of what could be done to move the various
products across the chart, upward and to the right. Are there some products which should be
harvested or markets from which we should withdraw?
perceptual maps
Decide first how to label the axes. What characteristics are important to customers? For
example, for cars it might be speed, comfort, reliability, economy. It might help to try to group
products together roughly first and then look at what they have in common. Having agreed on
the axes, plot where you think customers perceive your products and your competitors'
products.
Of course the results of this exercise will be purely subjective and should be tested by market
research. But in this case, the results are perhaps less important than the debate, which
should be illuminating!
levels of competition
Discuss where the competition is coming from at each level. Where are the real threats?
What strategies might we adopt to combat them?
segment attractiveness
Look at the list of criteria and measure each of your segments and major customers against it.
Do they pass the test? If not, how much effort and resources is the organisation spending on
them? It may be that there are good reasons for selling to these customers. But it is worth
checking. By serving these customers, we could be missing opportunities elsewhere which
might be more profitable, or fit with our strategy better.
marketing mix
Look at each aspect of the marketing mix for each of the organisation's major products. Do
they fit together and send a consistent message?