Techniche : Stratagem HOW TO WRITE A MARKETING STRATEGY

VIBHOR KALRA AND ABHINANDA DILIP

The broad approach a company intends to adopt in the longer term to achieve its objectives A medium to long term plans for achieving a firms marketing objectives The means or the game plan by which marketing objectives will be achieved Concerns markets, positioning, direction of development and competitive advantage A plan for future marketing activity

A marketing strategy should be :

Be part of the overall strategy Be based on the clear understanding of the market Be based on the analysis of the market Be based on the firms strengths Match opportunities to strengths Address the companys weakness React to threats Be integrated and coherent Be carefully thought out

Influences on strategy

Business objectives Firm resources Firm strengths Market conditions Opportunities in the market Competition and the market structure

MOST: components of a strategy

Mission Objective Strategy: overall plan Tactics: short term responses to an opportunity or a threat

The stages in development of a marketing strategy:

Clarify objectives Carry out a marketing audit Conduct a SWOT analysis Define marketing objectives Develop marketing strategy Implement marketing plans Review and evaluate outcomes Prepare the next plan

A Marketing Audit
A systematic analysis of business activities, operations and the external environment which affects how the business markets its products. The audit is carried out to analyse the position of the business now and explain how it arrived at that position. The purpose is to indetify strategic issues in terms of SWOT

External variables
These are outside the control of the business Political Economic Social/Cultural Technological Market charactersitcs Industry structure Competition

Internal Variables
Matters within the control of the business The business itself The marketing mix Marketing objectives Products Marketing department Financial performance Human resources Research and Development capabilities

SWOT Analysis

POSITIVE INTERNAL
EXTERNAL

NEGATIVE WEAKNESS
THREATS

STRENGTH
OPPORTUNITIES

Components of a marketing strategy

Target market Positioning Marketing mix : the right product, the right promotion, the right price and the right distribution to satisfy customers Competitive advantage : that gives a firm edge over its rivals

Three key decisions

Direction of growth : market penetration, market development, product development Choice of mass or niche marketing Choice of a generic strategy : cost leadership, differentiation or focus

Direction of Growth

Market development : develop new markets Market penetration : larger share of the existing market Product development : new product development Diversification : new products for new markets

Mass vs Niche
MASS Economies of scale NICHE Avoid clash with large rivals Less vulnerable to changes Requires less resources in demand by a small no of customers High volume of sales Low volumes of sales Requires high levels of Targets limited markets Investments but will fit in the firms USP

Generic Strategy

Choice of generic strategy to achieve competitive advantage Cost leadership : lowest cost producer Differentiation : different and better Focused strategy : focusing on a niche in the market

A successful marketing strategy

Is a part of the overall business strategy Matches the right product to the right market Builds on the firms strengths Defends against weaknesses Protects against threats Achieves the marketing objectives

Problem Statement for Techniche Stratagem

Design a nationwide marketing strategy for ZENIA, a five seater sedan completely powered by electricity to be launched in the late 2011 by Rauvi Motors.

Contact us :
For any query, contact the organizers,

VIBHOR KALRA v.kalra@iitg.ernet.in +91 8011201498

ABHINANDA DILIP abhinanda@iitg.ernet.in +91 9435043501

To Register, follow the link: http://www.techniche.org/techniche11/competitio ns/management/130.html