Marketing Management

1. Unit-2
Marketing Strategy

2. Marketing Strategy Formulation
 Marketing strategy formulation is the process of
defining an organization's marketing goals and
objectives. This allows formulators to create a guide.
They examine the market and in doing so, use that
information to determine what marketing approaches
will be best at reaching clients and enticing them to
seek out the business' services.

3. Levels in Market Strategic
Formulation
 Establishing Corporate Mission and Objectives
 Determining Corporate and Strategic Business Unit
Strategy
 Setting Marketing Objectives
 Developing Marketing Strategy
 Developing marketing Plan

4. Key drivers of Marketing Strategies
 Competition
 Economic Growth and Stability
 Political Trends
 Legal and Regulatory Issues
 Technological Advancements
 Socio-Cultural Trends

5. Industrial Marketing
 Industrial marketing (or business-to-business
marketing) is the marketing of goods and services
by one business to another. Industrial goods are
those an industry uses to produce an end product from
one or more raw materials. The term, industrial
marketing has largely been replaced by the term B2B
marketing (i.e. business to business marketing).

6. Strategies for Industrial Marketing
 Segmentation and Targeting.
 Managing Buyer Relationship.
 Marketing Intelligence.
 Negotiating a Deal.
 Tendering.
 Managing Payments.

7. Consumer Marketing
 Consumer marketing is defined as creating and
selling products, goods and services to individual
buyers, as opposed to trying to appeal to businesses.
Commercials trying to sell toys or books or movies to
the average individual are examples of consumer
marketing.

8. Strategies for Consumer Marketing
 Marketing Product or Service
 Identifying Appropriate Pricing.
 Create Place Strategy.
 Develop Promotion Strategy.
 Extraordinary USP.
 Scarcity and Undercover Marketing.
 Relationship Marketing.

9. Marketing Mix
 The marketing mix refers to the set of actions, or
tactics, that a company uses to promote its brand or
product in the market.
 The 4Ps make up a typical marketing mix - Price,
Product, Promotion and Place. However, nowadays,
the marketing mix increasingly includes several other
Ps like People, Process and Physical Evidence as vital
mix elements.

10. Factors Affecting Marketing Mix
 Controllable Factors
i. Product Planning
ii. Brand Policy
iii. Packaging Policy
iv. Personal Selling
v. Special Sales Promotion Policy
vi. Physical Distribution
vii. Market Research

11.  Uncontrollable Factors
i. Consumer’s Buying Behaviour
ii. Competition
iii. Pattern of Distribution System
iv. Government Control

12. Services Marketing
 Service marketing refers to the application of a
different set of tactics or strategies to anticipate the
consumer’s need for an intangible product. And thus,
meet their requirements accordingly, to create
maximum value for them from their purchase.

13. Characteristics of Services
 Intangibility
 Inseparability
 Variability / Heterogeneity
 Perishability
Other Characteristics:
 Ownership
 Performance
 Simultaneity
 Quality Measurement
 People -oriented

15. Competitor Analysis
Competitor analysis is a process of
evaluating the strengths and
weaknesses of present and
potential competitors.

16. Competitor Analysis Framework
 Competitor’s Objectives
 Competitor’s Assumptions
 Competitor’s Current Strategy
 Competitor’s Resources and Capabilities

17. Porter’s 5 forces Model for
Competitive Environment

19. Analysis of Consumer Markets
 An individual consumer or group of
consumers buying a particular product ,
service or idea for its final consumption is
called end consumer market.

20. Characteristics of Consumer
Market
 Huge number of buyers and sellers
 Variety of products
 Small size purchases
 Widespread area
 Long chain of distribution
 Transaction methods

21. Analysis of Industrial Markets
Organizational market is a place where
individuals and organizations procure
various goods and services that are
required for producing other goods and
services, in order to sell, rent or supply
to others.

22. Characteristics of Industrial Market
 Concentrated Geographical Area
 Few Buyers and Massive Buying
 Presence of either vertical or horizontal markets
 Demand is derived
 Demand is inelastic

23. Types of Industrial Market
 Producers
 Resellers
i. Wholesalers
ii. Retailers
 Organisations
i. Government Organisations
ii. Non-Profit Organisations