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8/8/2019 Session 1 - SMBG
http://slidepdf.com/reader/full/session-1-smbg 1/13
10/11/2010 1
Strategic Marketing
8/8/2019 Session 1 - SMBG
http://slidepdf.com/reader/full/session-1-smbg 2/13
10/11/2010 2
Strategic Marketing
Introduction
Formulating Marketing Strategy
Challenges & OpportunitiesRedefining Marketing
Market, Metamarket, Metamediaries
Exchange
Product Utility
Marketing Activities and Decisions
Challenges of Marketing Strategy
8/8/2019 Session 1 - SMBG
http://slidepdf.com/reader/full/session-1-smbg 3/13
10/11/2010 3
Strategic Marketing
The markets today are cluttered with products
that offer almost similar solutions to the extent
that it is impossible for the customer to establish
the superiority of one product over the other.Differentiating is not easy for the manufacturers.
To do so, firms must give consumers a
compelling reason to their products over
competing products and ultimately it is all about
innovation. This innovation can be achieved
through a well crafted marketing strategy taking
into account all the aspects of offering a product
to the market.
8/8/2019 Session 1 - SMBG
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Strategic Marketing
Environment
Scanning
Organizational
Mission
Organizational
Vision
Price
Distribution
Communication
Product
ProductionStrategy
Financial
Strategy
Strategic Marketing
Strategy
HR Strategy
Other Functional
Strategies
Formulating Strategic Marketing Strategy
8/8/2019 Session 1 - SMBG
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Strategic Marketing
Challenges and Opportunities
Power Shift to Customers Massive increase in Product Selection
Audience and Media Fragmentation
Changing Value Propositions
Shifting Demand Patterns
New Sources of Competitive Advantage
Privacy, Security and Ethical Concerns
Unclear Legal Jurisdiction
8/8/2019 Session 1 - SMBG
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Strategic Marketing
Redefining Marketing«.
Marketing is the process of planning andexecuting the conception, pricing, promotion anddistribution of ideas, goods and services tocreate exchanges that satisfy the individual andorganizational objectives (AMA, 1985 ± 2005)
Marketing is an organizational function and a set
of of processes for creating, communicating anddelivering value to customers and for managingcustomer relationships in ways that benefit theorganisation and its stakeholders. (AMA 2005onwards)
8/8/2019 Session 1 - SMBG
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Strategic Marketing
Defining Market, Metamarket and Metamediaries
Collection of Buyers and Sellers. Over the years, the
participants have not changes, however, their geographical locations and they way they interacted with
each other have dramatically changed with the
availability of better and faster means of electronic
communication and transaction facilities.
Metamarket is a cluster of goods and services that
center around a specific consumption activity. A metamediary provides a single access point where
buyers can locate many different sellers in the
metamarket.
8/8/2019 Session 1 - SMBG
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10/11/2010 8
Strategic Marketing
Exchange
The process of obtaining something of value from
someone by offering something in return. For exchange to occur, five conditions should be met:
There must be at least two parties to exchange
Each party has something of value to the other party
Each party must be capable of communicationand delivery
Each party must be free to accept or reject theexchange
Each party believes that it is desirable to
exchange with the other party.
8/8/2019 Session 1 - SMBG
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Strategic Marketing
ProductSomething that can be acquired via exchange tosatisfy a need or a want. Such as
Goods Services
Ideas
Information
Digital Products
People
Places
Experiences and Events
Real or Financial Property
Organizations
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Strategic Marketing
Utility Ability of a product to satisfy a customer¶s
desires. Customers usually seek out exchangeswith marketers who offer products that are high in
one or more of these five types of utility.
Form Utility
Time Utility
Place Utility
Possession Utility
Psychological Utility
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Strategic Marketing
Marketing Activities
&
Decisions
Social
Responsibility
& Ethics
Research
&
Analysis
Developing
Competitive
Advantage
Marketing
Strategy
Decisions
Implementation
&
Control
Customer
Relationships
Strategic
Planning
Product
Decisions
STP
Decisions
Pricing
Decisions
Promotion
Decisions
Distribution
Decisions
Major Marketing Activities & Decisions
8/8/2019 Session 1 - SMBG
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Strategic Marketing
Challenges of Marketing Strategy
Changing customers, competitors and
the marketing organization itself. People driven, meant for people
Dynamic Competition
Technology and communication
Innovative distribution channels