Description
To face up to the challenges, firms need to have a strategic orientation and engage them selves in planning and implementing of marketing strategies
Marketing Management
Marketing Management
Marketing
Management
Marketing
Management
Sabita Mishra
[email protected]
Sabita Mishra
[email protected]
Marketing Strategy
(To Create Competitive Advantage)
Tomorrow never happens by chance. It is planned. And those who are prepared, benefit the most
Challenges of strategic
orientation
A
Understanding Markets
Starting point of analysis is the market and the structural changes that is taking place in the market
Threats to Competition
New entrants into the
Finding Market Niches
As market evolves and customer needs become more defined, the marketer need to adopt a segmental approach
Prodct and Service
Planning
In this era of standardized technology, we embrace more and more undifferentiated products
Prodct and Service Analysis
!nvolves the Follo"ing
hat are the services the customers are looking for and does the current product and its offerings competitively satisfy the customers
#istri$tion
The success of a firm
Managing %eslts
ith pressure on costs, price and margins, it becomes important to make effective utilization of every money spent in marketing
Strategy & Concept '
#e(nition
!ne view of strategy is that it is a deliberate search for an action plan that will develop a firm"s competitive advantage and help augment it and this search is an
Corporate Strategy as
#e(ned $y )enneth %*
Andre"s
Strategy is the pattern of decision in a company that determines and reveals its ob#ectives, purposes or goals, produces the principal policies and plans for achieving these goals and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be and the nature of the economic and non$economic contribution it intends to make to its shareholders, employees, customers and communities%..&
Corporate Strategy
'orporate
Steps in Strategi+ing
Criteria for ,-ective
Strategi+ing
( #e(ning goals and o$.ectives
( Thorogh nderstanding of the pro$lem
( Understanding the orientation and strctre of the market leading
to an e-ective (t $et"een and organi+ation and its e/ternal
environment
( Setting a time frame
( Conceptali+ing
( Strong and committed leadership
( ,-ective risk assessment and management
( ,-ectively collecting relevant data
( ,-ective data analysis and detecting patterns
( Analy+ing and correlating patterns
( ,-ectively designing and formlating soltions
( ,-ectively allocating resorces to form a via$le soltion
( Anticipate changes in the environment
( Anticipating npredicta$le factors and e-ectively planning for the
predicta$le ones leading to a via$le soltion
Criteria for ,-ective
Strategi+ing
( Conceptali+ing it as an integrative action plan that helps in
strengthening its linkage "ith the e/ternal environment
( Planning
( Ploy and Positioning
( 0eneral or speci(c "ell thoght ot plans to handle ftre
scenarios
( ,-ective manevering action plan to gain an edge over
competition
( Translate plans into actions throgh e-ective e/ection and
implementation leading to a visi$le stream of actions that a (rm
ndertakes to gain a competitive edge over its competitors
( Anticipate emergent strategies that are dictated $y market forces
( ,-ective intended strategies that translate into action plans
( Convert tactics into strategy sch that short term soltions and
adaptive action are strategi+ed into long term realignment and
action plan leading to an e-ective soltion sch that "hat
happens to $e tactical today can lead to permanent soltion
throgh e-ective strategi+ing
( Formlating good policies throgh e-ective planning
Trend Analysis and
Forecasting
( Forecasting is a techni1e of anticipating ftre pro$lems
and events
( !nvolves making detailed analysis of the past and the
present
( Provides an idea a$ot possi$le events of the ftre
( !nvolves $oth assessing the ftre and making provision for
it
( Makes planning possi$le "here it is sed as a premise for
planning and a"akens management against $siness
cycles2 minimi+es risks2 and reveals managements
"eaknesses if any to face in the ftre
( ,nsres coordination and involves .oint e-ort of all
departments in the concern2 creates team spirit2 nity and
coordination in the e-orts of the s$ordinates
( Facilitates contact and helps in e/ercising control
!mportance of Forecasting
(
Forecasting helps in3
)
Making $oth long and short term
planning possi$le
)
,nsres coordination
)
Facilitates control
Classi(cation of Forecasting
(
Classi(cation of forecasting can $e done
according to space and time
(
!t may take the form of $siness or economic
forecasting
(
!t may $e long or short term
(
Short term forecasting predicts p to a ma/imm
of t"o years
(
!ntermediate range covers three to (ve years
(
4ong range pro.ections have a minimm time
span of of (ve years into the ftre
(
At any given time there is only one level of
indstry marketing e/penditre
(
Market demand corresponding to this level is
market forecast
Methods commonly sed for
long term forecasting
(
Time series analysis
(
Correlation
(
,conometric models
Most poplar are time series and
correlation
Time Series Analysis
(
Company5s o"n indstry and sales
data from previos years
(
#ecomposing this time series and
then estimating sales for the ne/t
time period is called time series
analysis
(
To se this method the marketer
shold have time series for ten years
Time Series #ecomposition
(
Additive approaches
(
Mlticlative approaches
(
Sales over a period of time period as a fnction of
trend2 cyclicality 2 seasonality and erratic factors
(
A common fnction form e/pressing it is
6 7 T / C / S / !
(
8here T 7 trend component2
(
C 7 Cyclical component2
(
S 7 Seasonality component and
(
! 7 !rreglar or erratic factors
Aggregate approach
(
Aggregate approach2 sales is seen as
the aggregate e-ect of all these
varia$les and is sym$olically
depicted as
6 7 T 9 C 9 S 9 ! 8here
(
T 7 trend component2
(
C 7 Cyclical component2
(
S 7 Seasonality component and
(
! 7 !rreglar or erratic factors
Correlation Method
( : 7 f ( ;
<2
;
=2
;
>2
????**;
n
)
(
8here : 7 Sales in volme or monetary terms
( And ;
<2
;
=2
;
>2
????**;
n
are independent
demand varia$les
(
This method is increasingly $eing sed today
(
!t is commonly $elieved today that the sale of a
prodct is a fnction of several varia$les like
price2 advertising e/penditre2 distri$tion
e/penditre2 personal disposa$le income etc?
(
Pro$lems are too fe" o$servations2 too mch
correlation among independent varia$les2
violation of normal distri$tion assmptions2 t"o
"ay casations and emergence of ne" varia$les*
Conclsion
Thank You!!!!
=@
doc_265862732.pptx
To face up to the challenges, firms need to have a strategic orientation and engage them selves in planning and implementing of marketing strategies
Marketing Management
Marketing Management
Marketing
Management
Marketing
Management
Sabita Mishra
[email protected]
Sabita Mishra
[email protected]
Marketing Strategy
(To Create Competitive Advantage)
Tomorrow never happens by chance. It is planned. And those who are prepared, benefit the most
Challenges of strategic
orientation
A
Understanding Markets
Starting point of analysis is the market and the structural changes that is taking place in the market
Threats to Competition
New entrants into the
Finding Market Niches
As market evolves and customer needs become more defined, the marketer need to adopt a segmental approach
Prodct and Service
Planning
In this era of standardized technology, we embrace more and more undifferentiated products
Prodct and Service Analysis
!nvolves the Follo"ing
hat are the services the customers are looking for and does the current product and its offerings competitively satisfy the customers
#istri$tion
The success of a firm
Managing %eslts
ith pressure on costs, price and margins, it becomes important to make effective utilization of every money spent in marketing
Strategy & Concept '
#e(nition
!ne view of strategy is that it is a deliberate search for an action plan that will develop a firm"s competitive advantage and help augment it and this search is an
Corporate Strategy as
#e(ned $y )enneth %*
Andre"s
Strategy is the pattern of decision in a company that determines and reveals its ob#ectives, purposes or goals, produces the principal policies and plans for achieving these goals and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be and the nature of the economic and non$economic contribution it intends to make to its shareholders, employees, customers and communities%..&
Corporate Strategy
'orporate
Steps in Strategi+ing
Criteria for ,-ective
Strategi+ing
( #e(ning goals and o$.ectives
( Thorogh nderstanding of the pro$lem
( Understanding the orientation and strctre of the market leading
to an e-ective (t $et"een and organi+ation and its e/ternal
environment
( Setting a time frame
( Conceptali+ing
( Strong and committed leadership
( ,-ective risk assessment and management
( ,-ectively collecting relevant data
( ,-ective data analysis and detecting patterns
( Analy+ing and correlating patterns
( ,-ectively designing and formlating soltions
( ,-ectively allocating resorces to form a via$le soltion
( Anticipate changes in the environment
( Anticipating npredicta$le factors and e-ectively planning for the
predicta$le ones leading to a via$le soltion
Criteria for ,-ective
Strategi+ing
( Conceptali+ing it as an integrative action plan that helps in
strengthening its linkage "ith the e/ternal environment
( Planning
( Ploy and Positioning
( 0eneral or speci(c "ell thoght ot plans to handle ftre
scenarios
( ,-ective manevering action plan to gain an edge over
competition
( Translate plans into actions throgh e-ective e/ection and
implementation leading to a visi$le stream of actions that a (rm
ndertakes to gain a competitive edge over its competitors
( Anticipate emergent strategies that are dictated $y market forces
( ,-ective intended strategies that translate into action plans
( Convert tactics into strategy sch that short term soltions and
adaptive action are strategi+ed into long term realignment and
action plan leading to an e-ective soltion sch that "hat
happens to $e tactical today can lead to permanent soltion
throgh e-ective strategi+ing
( Formlating good policies throgh e-ective planning
Trend Analysis and
Forecasting
( Forecasting is a techni1e of anticipating ftre pro$lems
and events
( !nvolves making detailed analysis of the past and the
present
( Provides an idea a$ot possi$le events of the ftre
( !nvolves $oth assessing the ftre and making provision for
it
( Makes planning possi$le "here it is sed as a premise for
planning and a"akens management against $siness
cycles2 minimi+es risks2 and reveals managements
"eaknesses if any to face in the ftre
( ,nsres coordination and involves .oint e-ort of all
departments in the concern2 creates team spirit2 nity and
coordination in the e-orts of the s$ordinates
( Facilitates contact and helps in e/ercising control
!mportance of Forecasting
(
Forecasting helps in3
)
Making $oth long and short term
planning possi$le
)
,nsres coordination
)
Facilitates control
Classi(cation of Forecasting
(
Classi(cation of forecasting can $e done
according to space and time
(
!t may take the form of $siness or economic
forecasting
(
!t may $e long or short term
(
Short term forecasting predicts p to a ma/imm
of t"o years
(
!ntermediate range covers three to (ve years
(
4ong range pro.ections have a minimm time
span of of (ve years into the ftre
(
At any given time there is only one level of
indstry marketing e/penditre
(
Market demand corresponding to this level is
market forecast
Methods commonly sed for
long term forecasting
(
Time series analysis
(
Correlation
(
,conometric models
Most poplar are time series and
correlation
Time Series Analysis
(
Company5s o"n indstry and sales
data from previos years
(
#ecomposing this time series and
then estimating sales for the ne/t
time period is called time series
analysis
(
To se this method the marketer
shold have time series for ten years
Time Series #ecomposition
(
Additive approaches
(
Mlticlative approaches
(
Sales over a period of time period as a fnction of
trend2 cyclicality 2 seasonality and erratic factors
(
A common fnction form e/pressing it is
6 7 T / C / S / !
(
8here T 7 trend component2
(
C 7 Cyclical component2
(
S 7 Seasonality component and
(
! 7 !rreglar or erratic factors
Aggregate approach
(
Aggregate approach2 sales is seen as
the aggregate e-ect of all these
varia$les and is sym$olically
depicted as
6 7 T 9 C 9 S 9 ! 8here
(
T 7 trend component2
(
C 7 Cyclical component2
(
S 7 Seasonality component and
(
! 7 !rreglar or erratic factors
Correlation Method
( : 7 f ( ;
<2
;
=2
;
>2
????**;
n
)
(
8here : 7 Sales in volme or monetary terms
( And ;
<2
;
=2
;
>2
????**;
n
are independent
demand varia$les
(
This method is increasingly $eing sed today
(
!t is commonly $elieved today that the sale of a
prodct is a fnction of several varia$les like
price2 advertising e/penditre2 distri$tion
e/penditre2 personal disposa$le income etc?
(
Pro$lems are too fe" o$servations2 too mch
correlation among independent varia$les2
violation of normal distri$tion assmptions2 t"o
"ay casations and emergence of ne" varia$les*
Conclsion
Thank You!!!!
=@
doc_265862732.pptx