MARKETING STRATEGY

SYLLABUS
Marketing Strategy-Overview Pillars of Marketing STPD strategies Market Situation Strategies- Leaders, Challengers, Followers, Nichers Competition Analysis Porters 5 forces Model for competitive environment Benchmarking exercises, understanding competitive moves and postures Sustainable competitive advantage Porters generic strategies

SYLLABUS

Portfolio models BCG & GE Mckinsey matrix New Product Strategies Innovation, Market entry, Product line extension, communication strategy Ads & Promotion Strategy campaigns, Brand building FMCG, Consumer durables & service cases Distribution Strategy Designing of Channel systems, managing multichannel system Pricing Strategy Value pricing, Optimization of pricing Marketing Planning Introduction, growth & mature markets, Prunning of Products

EVALUATION SCHEME
60% University 40% internal

10 marks 10 marks 10 marks 10 marks Attendance, Class Participation, Discipline Assignments ( Individual + Group) Class Test Group Project

MARKETING STRATEGY

STRATEGY

A strategy is a fundamental pattern of present & planned objectives, resource deployments and interactions of an organization with markets & competitors & other environmental factors.

STRATEGY
A strategy should specify 1. What(objectives to be accomplished) 2. Where (on which industries & product market to focus) 3. How (which resources and activities to meet environmental opportunities & threats & to gain competitive advantage)

STRATEGY
The component of strategy: 1. Scope 2. Goals and objectives 3. Resource deployment 4. Identification of a sustainable advantage 5. synergy

STRATEGY
3- major levels of strategy in most large, multiproduct organization: 1. Corporate strategy 2. Business level strategy 3. Functional strategy

CORPORATE STRATEGY
At the corporate level, managers must coordinate the activities of multiple business units & in case of conglomerates, even separate legal business entities. Primary focus - Decisions about the organizations scope & resource deployments across its divisions or businesses

CORPORATE STRATEGY
The essential questions at this level include: i. What business are we in? ii. What business/es should be we in? iii. What portion of our total resources should we devote to each of these business/es to achieve the organizations overall goals & objectives?

BUSINESS LEVEL STRATEGY

How a business unit competes within its industry most important issue Sustainable competitive advantage Appropriate scope (how much & which market segments to compete in & the overall breadth of product offerings & marketing programs to appeal to these segments)

FUNCTIONAL STRATEGY

Focused on a particular function

MARKETING STRATEGY
Focus- effective allocation & co-ordination of marketing resources & activities to accomplish the firms objectives within a specific product market Issues specifying target market for a particular product or product line & tailoring 4Ps of marketing mix to the needs & wants of potential customers in the target market.

FACTORS THAT MEDIATE MARKETINGS STRATEGIC ROLE

Competitive factors affecting a firms market orientation The influence of different stages of development across industries & global market Strategic inertia

RECENT DEVELOPMENTS AFFECTING THE STRATEGIC ROLE OF MARKETING

Globalization Increase importance of service Information technology Relationships across functions & firms