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STERLING INSTITUTE OF
MANAGEMENT
Div C
Group Member Roll No
Dinesh 07Sager 17Divyalochan 47Rahul 41Lakhvinder 18Parag 15
Principle of Marketing strategies
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MARKETING IS THE MANAGEMENT
PROCESS THAT IDENTIFIES,
ANTICIPATES, SATISFIESCUSTOMERS REQUIREMENT
PROFITABLY.
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What mean by marketing
strategy?????
Implications of marketing strategy:
Who are our existing / potential customers?
What are their current & future need/
How can we satisfy those needs? Why should buy from us?
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Concept
Choosing & targeting appropriate customers
Positioning your offering
Interacting with those customers Continuity of performance
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Marketing strategy
Process
Analysis
Objective Strategies
Tactics
Implementation
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Product Life Cycle shows the stages that
products go through from development towithdrawal from the market
Product Portfolio the range of products acompany has in development or available forconsumers at any one time
Managing product portfolio is important forcash flow
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Product Life Cycle (PLC):
Each product may have a different life cycle PLC determines revenue earned Contributes to strategic marketing
planning
May help the firm to identify when aproduct needs support, redesign,reinvigorating, withdrawal, etc.
May help in new product developmentplanning
May help in forecasting and managing cashflow
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The Stages of the Product Life Cycle:
Development
Introduction/Launch
GrowthMaturity
Saturation
Decline
Withdrawal
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Product Development: Stages
New ideas/possible inventions Market analysis is it wanted? Can it beproduced at a profit?Who is it likely to beaimed at?
Product Development and refinement
Test Marketing possibly local/regional
Analysis of test marketing results andamendment of product/production process
Preparations for launch publicity,marketing campaign
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Introduction/Launch:
Advertising and promotion campaigns
Target campaign at specific audience?
Monitor initial salesMaximise publicity
High cost/low sales
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Growth:
Increased consumer awareness
Sales rise
Revenues increaseCosts - fixed costs/variable costs,
profits may be made
Monitor market competitorsreaction?
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Maturity:
Sales reach peak
Cost of supporting the productdeclines
Ratio of revenue to cost high
Sales growth likely to be low
Market share may be high
Competition likely to be greater
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Saturation: New entrants likely to mean market is flooded Necessity to develop new strategies becomes
more pressing:
Searching out new markets:
Developing new uses
Focus on adapting the product Re-packaging or format
Improving the standard or quality
Developing the product range
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Decline and Withdrawal:
Product outlives/outgrows itsusefulness/value
Fashions change
Technology changes
Sales decline
Cost of supporting starts to rise too far
Decision to withdraw may be dependent onavailability of new products and whetherfashions/trends will come around again?
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Product Life Cycles
Sales
Time
Development Introduction Growth Maturity Saturation Decline
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SEGMENTATION
Market segmentation is the segmentation of markets in tohomogenous groups of customers each of them reactingdifferently to promotion,communication,pricing and other
variables of marketing mix.
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WHY MARKET SEGMENTATION?
Better serving customers needs and wants
Higher profits
Oppurtunities for growth Targeted communication
Stimulating innovation
Higher market shares
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LEVELS OF MARKET SEGMETATION
Mass marketing
Niche marketing
Segment marketing
Micro marketing
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CRITERIA FOR MARKET
SEGMENTATION Needs
Profilers
Geographic
Demographic
Psycographic
B
ehavioural
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TARGETING
Targeting is the second stage of the SEGMENT"Target POSITION (STP) process
Identification of attractive market segment
Match the needs of customer
Homogenous group of customer
appeal
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SINGLE PRODUCT WITH SINGLE
SEGMENT
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SINGLE PRODUCT AT ALL
SEGMENT
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MULTI SEGMENT APPROACH
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POSITIONING AND RE-POSITIONING
�In marketing, positioning has come to mean the process by
which marketers try to create an image or identity in theminds of their target market for its product, brand, ororganization�Re-positioning involves changing the identity of a product,
relative to the identity of competing products, in thecollective minds of the target market.
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POSITIONING IS ALL ABOUT
PERCEPTION
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SIX STEPS QUESTION
1.What position do you currently own?
2.What position do you want to own?
3.Whom you have to defeat to own theposition you want.
4. Do you have the resources to do it?
5. Can you persist until you get there? 6.Are your tactics supporting the positioning
objective you set?
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MAPS OF CARS
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General sequence of steps that might be followed fordeveloping the pricing of a new product:
Develop marketing strategy - perform marketing analysis,segmentation, targeting, and positioning.
Make marketing mix decisions - define the product, distribution, andpromotional tactics.
Estimate the demand curve - understand how quantity demandedvaries with price.
Calculate cost - include fixed and variable costs associated with theproduct.
Understand environmental factors - evaluate likely competitor
actions, understand legal constraints, etc. Set pricing objectives - for example, profit maximization, revenue
maximization, or price stabilization (status quo).
Determine pricing - using information collected in the above steps,select a pricing method, develop the pricing structure, and define
discounts.
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How pricing decision is depend upon the place,
promotion, product..
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Pricing should take into account the
following factors:
Fixed and variable costs.
Competition.
Company objectives.
Proposed positioning strategies.
Target group and willingness to pay.
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THANK YOU
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