Welcome toMarketing StrategyStrategic Marketing Perspectives Behind

Successful Corporates and Businesses

What is Strategy?

A strategy is a fundamental pattern of present and planned

objectives, resource deployments,

and interactions of an

organization with markets,

competitors, and other

environmental factors

Components of Strategy

Scope

Goals and objectives

Resource deployments

Identification of sustainable competitive

Advantage

Synergy

The Hierarchy

of Strategies

Three major levels of strategy are:

1. Corporate strategy

2. Business-level strategy

3. Marketing strategy

Market

Oriented

Management

Market-Oriented Management

1. Follows a business philosophy

commonly called marketing concept

• Which should come first – the

customer need or the product

idea?

2. Consistent focus by personnel in all

departments and at all levels

• What sort of decisions must

marketing managers make to

effectively serve customer needs?

3. Adopts a variety of organizational

procedures and structures:

• To improve the responsiveness of

decision making

Differences between Production-

Oriented and Market-Oriented

Organizations

Business Activity or Function

Production OrientationMarketing

Orientation

Product offeringCompany sells what it

can makeCompany makes what it can sell

Product line Narrow Broad

PricingBased on production

anddistribution costs

Based on perceived benefitsprovided

Research

Focus on productimprovement and cost

cutting inthe production process

Focus onidentifying new

opportunities andapplying new

technology to satisfycustomer needs

Business Activity or Function

Production Orientation Marketing Orientation

Packaging Protection for the product;

minimize costs

Designed for customerconvenience; a

promotional tool

Credit A necessary evil; minimize bad debt

losses

A customer service; a tool to attract

customers

Promotion Emphasis on product features,

quality, and price

Emphasis on product benefits and

ability to satisfy customers’ needs or

solve problems

1. Create customer focus throughout the business

2. Listen to the customer

3. Define and nurture your distinctive competence

4. Define marketing as market intelligence

5. Target customers precisely

6. Manage for profitability, not sales volume

7. Make customer value the guiding star

8. Let the customer define quality

9. Measure and manage customer expectations

10.Build customer relationships and loyalty

11.Define the business as a service business

12.Commit to continuous improvement and innovation

13.Manage culture along with strategy and structure

14.Grow with partners and alliances

15.Destroy marketing bureaucracy

Guidelines for Market-Oriented Management

Factors that Mediate

Strategic Marketing's Role

1. Competitive factors affect a firm’s market orientation

2. Influence of different development stages across industries and global markets

3. Strategic inertia

Formulating and

Implementing

Marketing Strategy

Process

1. Decision-Making Focus

2. Analysis of the four “Cs”

3. Integrating marketing strategy

with the firm's other strategies

and resources

4. Market opportunity analysis

- Understanding Market

Opportunities

- Measuring Market Opportunities

- Market Segmentation,

Targeting, and Positioning

Decisions

5. Formulating strategies for

specific market situations

6. mplementation and control of

the marketing strategy

Marketing PlanA marketing plan is a written

document detailing the current situation with respect to customers,

competitors, and the external environment

Contents of a Marketing Plan• Executive summary

• Current situation and trends• Performance review (for an existing good or

service only)

• Key issues

• Objectives

• Marketing strategy

• Action plans

• Projected profit-and-loss statement

• Controls

• Contingency plans