Innovative Marketing Strategies and Trends for Future Success
Explore the dynamic world of marketing through key insights on developing strategies, adapting to market changes, and enhancing value delivery. Gain valuable knowledge on core competencies, the 3 Vs approach to marketing, and the evolving marketplace landscape. Discover how to create effective marketing plans that align with organizational goals and customer needs for sustainable growth in the digital age.
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Presentation Transcript
Developing Marketing Strategies and Plans Dr Prabhat K. Dwivedi Associate Professor School of Business Management CSJMU Kanpur
We can not be content with the status quo. -Howard Schultz CEO-Starbucks
The marketplace isnt what it used to be. Changing technology Globalization Deregulation Privatization Empowerment Customization Convergence Disintermediation 1-3 March 21, 2025
Improving Value Delivery THE JAPANESE WAY 0 customer feedback time 0 product improvement time 0 Inventory (JIT Manufacturing) 0 purchasing time 0 setup time 0 defects 1-4 March 21, 2025
3 Vs Approach to Marketing Define the value segment Define the value proposition Define the value network
Benchmarks Organizational costs and Competitor costs performance measures and performance . measures
The Value Chain: Core Business Processes Customer relationship Management Process Market Sensing Process New offering Realization Process The Fulfillment Management Process Customer Acquisition Process 1-10 March 21, 2025
Core Competencies A core competency has three characteristics: 1. It has source of competitive advantage and makes a significant contribution to perceived customer benefits. 2. It has applications to wide variety of markets. 3. It is difficult for competitors to imitate.
Levels of a Marketing Plan Strategic Target marketing decisions Value proposition Analysis of marketing opportunities Tactical Product features Promotion Merchandising Pricing Sales channels Service 1-12 March 21, 2025
Major Competitive Spheres Industry Products & Applications Competence Market segment Vertical channels Geographical 1-13 March 21, 2025
Dimensions That Define A Business Customer groups Customer needs Technology 1-14 March 21, 2025
Corporate Headquarters Planning Activities Define the corporate mission Establish SBUs Assign resources to each SBU Assess growth opportunities 1-15 March 21, 2025
Good Mission Statements Focus on limited number of goals Stress company s major policies and values Define major competitive spheres within which the company will operate Take long term view As short, memorable and meaningful as possible 1-16 March 21, 2025
Motorola The purpose of Motorola is to honorably serve the needs of the community by providing products and services of superior quality at a fair price to our customers; to do this so as to earn an adequate profit which is required for the total enterprise to grow; and by doing so, provide the opportunity for our employees and shareholders to achieve their personal objectives. 1-17 March 21, 2025
eBay We help people trade anything on earth. We will continue to enhance the online trading experiences of all collectors, dealers, small businesses, unique item seekers, bargain hunters, opportunity sellers, and browsers. 1-18 March 21, 2025
SBUs & Its Characteristics It is a single business or collection of related businesses It has its own set of competitors It has a leader responsible for: Strategic planning Profitability Efficiency 1-19 March 21, 2025
Organizations Culture Policies Structure 1-21 March 21, 2025
Market Opportunity Analysis (MOA) Can the benefits involved in the opportunity be articulated convincingly to a defined target market? Can the target market be located and reached with cost-effective media and trade channels? Does the company possess or have access to the critical capabilities and resources needed to deliver the customer benefits? Can the company deliver the benefits better than any actual or potential competitors? Will the financial rate of return meet or exceed the company s required investment? threshold for 1-22 March 21, 2025
Goal Formulation and MBO Requirements for using MBO Unit s objectives must be hierarchical Objectives should be quantitative Goals should be realistic Objectives must be consistent 1-23 March 21, 2025
Porters Generic Strategies Overall cost leadership Differentiation Focus 1-25 March 21, 2025
Categories of Marketing Alliances Product or Service Alliances Promotional Alliances Logistics Alliances Pricing collaborations 1-27 March 21, 2025
Company Orientations Production Product Selling Marketing 1-28 March 21, 2025
