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Marketing Strategy Segmentation, Targeting and Positioning Business Strategy Marketing Strategy Who to Serve How to Serve Marketing Tactics and Programs Pricing Policy Product Policy Promotional Policy Place/Distribution Policy List prices Discounts and promotions Credit terms

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Marketing strategy l.jpg

Marketing Strategy

Segmentation, Targeting and Positioning


The tools of marketing l.jpg

Business Strategy

  • Marketing Strategy

  • Who to Serve

  • How to Serve

Marketing Tactics and Programs

PricingPolicy

ProductPolicy

Promotional Policy

Place/DistributionPolicy

  • List prices

  • Discounts and promotions

  • Credit terms

  • Etc.

  • Length and depth of line

  • Quality

  • Associated services

  • Packaging/labeling

  • Design

  • Etc.

  • Intensity

  • Terms

  • Service

  • Etc.

Communication Mix

Elements

The Tools of Marketing

Mission

SBUs

STP

the “Offering”


Business strategy l.jpg
Business Strategy

A Business has customer groups (i.e. markets), customer needs, core offering

Three generic business strategies (Porter):1. Overall cost leadership

2. Differentiation

3. Focus



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Marketing Strategy (STP)

  • Segmentation of customer groups (markets)

  • Selection of specific Target Markets

  • Positioning of core offering to each target market


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The Environments

FACTORS SHAPING PRIMARY DEMAND

  • Cultural, Social and Demographic Environment

    • Major effect is on people’s and organization’s willingness to buycertain kinds of products and services

  • Economic and Technological Environments

    • Impacts on people’s and organization’s ability to buy

  • Political and Legal Environments

    • Impacts on the nature of practices used to drive primary and selective demand

    • May also shape primary demand for goods and services needed to comply with regulations


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The Environments

FACTORS SHAPINGSELECTIVEDEMAND

  • Competitive Environment

    • Impacts on whether we can meet buyer needs better than anyone else

    • Includes substitutes

    • Major effect is on people’s and organization’s choiceof brands other than yours

  • Customer Environment

    • Major effect is on people’s and organization’s choice of brands

  • Current Marketing Situation (i.e. the internal environment)

    • Major effect is on people’s and organization’s choiceof your brand over others


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Competitive Assessment

Marketing Strategy

  • Target Market(s)

  • Business Strategy

  • Generic Strategy

  • Market Share

  • Key Success Factors

  • Share of Mind

  • Competitive Advantage (Positioning)

For Each Competitor, Assess the following:

Marketing Mix Elements

  • Core Offering(s)

  • Product/Service Quality

  • Pricing

  • Communication Media

  • Personal Selling Methods

  • Distribution Methods

  • Location

  • Post-sales service


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Segmentation Scheme

Level 1 - Base

Level 2 - Base

  • Typical Bases:

  • Demographic

  • Geographic

  • Behavioral

  • Psychographic



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The Segmentation GridConsumer Profiling

Contents:

  • Who buys…

    • What

    • Where

    • When

    • Why

    • How


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Assessment of Current Marketing Situation

  • Current marketing strategy assessment

    • Segmentation strategy

    • Target Markets

    • Positioning & Branding

    • Marketing Mix Elements

  • Sources of competitive advantage

  • Constraints

    • Budget

    • Technology

    • Human factors

    • Channels

    • Suppliers

    • Management, etc.


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Overall Plan Objectives

Individual Segment Objectives

Positioning Objectives

  • Tactical Objectives:

    • Product Objectives

    • Pricing Objectives

    • Place Objectives

    • Promotion Objectives

SMART Objectives

  • Specific

  • Measurable

  • Achievable

  • Realistic

  • Timeline

The Marketing Plan

A Hierarchy of Objectives


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CUSTOMER ANALYSIS Who BUYS What, Where, When, How and Why

COMPETITOR ANALYSIS Who OFFERS What, Where, When, How and Why

Determine Basis of Segmentation

Determine Basis ofDifferentiation

COMPANY ANALYSISGiven your objectives and resources … what can you do, for whom, where and when?

Integrating Analysis with Planning

ASSESS MARKET-COMPANY FIT Define Quality and Identify Segments You Can Serve(Targeting)

ASSESS PRODUCT-COMPANY FIT Evaluate Relative Quality and Identify Competitors You Can Beat

(Targeting & Positioning)


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Segment

A

Segment

A

Niche

A1

Niche

A1

Niche

A2

Niche

A2

Niche

A3

Niche

A3

Segment

B

Segment

B

Segment

B

Segment

B

Segment

C

Segment

C

Segment

C

Segment

C

Mass

Market

Multi-

Segment

Strategy

Single

Segment

Strategy

Segment

Niche

Strategy

Mass

Customization

Strategy

Alternatives Segmentation Strategy



Positioning l.jpg
Positioning

  • The “definition”, “place”, or “identity” of a product in the minds of consumers, relative to competitive offerings.

  • Assumes

    • Differentiation

  • A positioning statement

    • To defined target segment

    • X is the brand of defined category

    • That unique selling proposition


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Positioning Competitively:Alternative Positioning Strategies

  • Product attributes

  • Benefits offered

  • Usage occasions

  • Classes of users

  • Directly on competitor

  • Around competitor

  • Against product class


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What the Customer Gets

Pre-sales services

Level of

quality

Delivery

Brand identity

What theCustomerWants

Features

Image

Credit

Back-office services

Packaging

Associated services

Warranty

Installation

Positioning: The Unifying Theme for Marketing Efforts

  • Positioning Reflects Key Elements of Strategy

  • How we think the customer views the product

  • How we want the customer to think about us

  • Who the customer sees as a substitute for us

  • What we feel we can do better than the competition

  • Positioning Shapes Customer Expectations

  • A “promise” to potential customers

  • The reason they give us trial; the standard we mustmeet

  • All Marketing Elements Must Reinforce the Positioning

  • Positioning embodies the principle of market FOCUS

  • Focus requires a concentration on a specific type

  • of customer

  • Inconsistencies between marketing tools leads to a

  • loss of efficiency and effectiveness


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Creating a Value Proposition (Positioning)

  • Part 1: What We Do

    • For the target market

    • Who want the “consumption problem”

      (what “need” do you serve?)

    • Our product is our portion of the “solution”

      (when do they think about your class of product in connection with that need?)

    • That features key benefit provided

      (what’s the one or two things you want them to remember about you?)

    • As measured by how the customer infers quality

  • Part 2: Why We Will Win

    • Unlike our main competitors

    • Our product provides key point(s) of difference

    • As supported by what makes our difference possible

      (why they should believe us…TODAY)

    • And protected by why the competition cannot easily overcome it

      (why they should believe us…TOMORROW)


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The role of the marketing mix

Product

Price

Place

Promotion

Physical Evidence

Process

People

Partnering

Positioning

Target

Customers

Marketing Strategy

Decisions

Tactical

Implementation

Customer Effects


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Product

Place

Promotion

Price

  • Objectives

  • Physical Goods

  • Service

  • Features

  • Quality Level

  • Accessories

  • Installation

  • Instructions

  • Warranty

  • Product Lines

  • Packaging

  • Branding

  • Objectives

  • Channel Type

  • Market Exposure

  • Kinds of Middleman

  • Kinds and Locations of Stores

  • How to Handle Transporting and Storing

  • Service Levels

  • Recruiting Middlemen

  • Managing Channels

  • Objectives

  • Blend

  • Salespeople

  • - Kind

  • - Number

  • - Selection

  • - Training

  • - Motivation

  • Advertising

  • - Targets

  • - Kinds of Ads

  • - Media Type

  • - Copy Thrust

  • - Who Prepares?

  • Sales Promotion

  • Publicity

  • Objectives

  • Flexibility

  • Level over Product Life Cycle

  • Geographic Terms

  • Discounts

  • Allowances

Some Decision Areas Organized by the Four Ps


Some decision areas organized by the other ps l.jpg

Phys. Evidence

Process

People

Partnering

  • Objectives

  • Facility Design

  • Equipment

  • Signage

  • Employee Dress

  • Other tangibles

  • - Reports

  • - Bus. Cards

  • - Statements

  • - Guarantees

  • Objectives

  • Flow of activities

  • Customer involvement

  • Number of steps

  • Queuing

  • Payment methods

  • Objectives

  • HR activities

  • Customer training

  • Customer education

  • Objectives

  • Loyalty programs

  • Incentive programs

  • Alliances

  • Networking

Some Decision Areas Organized by the other Ps




Budget l.jpg
Budget

  • Projections of sales

  • Include and note implementation costs

  • Sensitivity analysis


Controls l.jpg
Controls

The Marketing Plan

A Hierarchy of Objectives

Overall Plan Objectives

Metrics

Method of Evaluation

Individual Segment Objectives

Timing and frequency

of Evaluation

Reaction Plans

Contingencies


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The Report

  • Introduction (Background)

  • Case Problem(s), Issue(s)

  • Objectives/Decision Criteria

  • Analysis

    • Current marketing situation

    • Identification and analysis of alternatives

  • Marketing Strategy/ Recommendations

  • Implementation Plan (Marketing Mix)


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Sources

Dr. S. Armstrong, Wharton

Dr. M. Cunningham, Queen’s

Mr. K. Wong, Queen’s

Dr. S. Taylor, Queen’s

Kotler and Keller (2007), A Framework for Marketing Management – 3rd Edition, Pearson/Prentice Hall

Zeithaml, Bitner, and Gremler (2005), Services Marketing – 4th Edition, McGraw-Hill

The 2201 Team – S. Myrden, D. Stapleton, T. Jones


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