Marketing strategy created by Moreslides.com

1. contact@moreslides.com

2. AGENDA
Review of Hierarchy of Objectives
Common Elements of Objectives
The Process of Marketing Strategy Development
BIO-BREAK
The Evaluation of Opportunities
Target Market Selection
The Structure of Marketing Mix Strategies
BIO-BREAK
Generic Marketing Strategies
Product Strategies
Market Position Strategies
contact@moreslides.com
2

3. HIERARCHY OF GOALS AND OBJECTIVES
Organizational Goals and Objectives
Marketing Goals and Objectives
Marketing Mix Goals and Objectives
Marketing Mix Element Goals and Objectives
Lorem ipsum dolor sit amet,
consectetur
adipiscing
elit.
Aliquam odio nulla, blandit eu
suscipit ac, pulvinar in mauris.
Mauris ac sodales ante. Donec
congue lectus vel libero facilisis
luctus.
Lorem ipsum dolor sit amet,
consectetur
adipiscing
elit.
Aliquam odio nulla, blandit eu
suscipit ac, pulvinar in mauris.
Mauris ac sodales ante. Donec
congue lectus vel libero facilisis
luctus.
contact@moreslides.com
3

4. WHAT BUSINESS ARE YOU IN?
Mission statement
Lorem ipsum dolor sit amet, consectetur adipiscing
elit. Aliquam odio nulla, blandit eu suscipit ac,
pulvinar in mauris. Mauris ac sodales ante. Donec
congue lectus vel libero facilisis luctus.
Statement of marketing strategy
•
Indicates product, market scope
•
Shows growth factor
•
Shows differential advantage
•
Shows management orientation
contact@moreslides.com
4

5. ELEMENTS OF OBJECTIVES
AN
EFFECT
• Benchmark + effect = Desired Outcome
• Effect has to be measureable
• Should be realistic
Timeframe for evaluation
Evaluation and effect should be related
contact@moreslides.com
5

6. MARKETING STRATEGY DEVELOPMENT
Recognize and evaluate an opportunity
• Market size and potential
• Key competitors
Choose target market
Develop Objectives for each opportunity
Develop Marketing Mix Strategy for each
opportunity
Choose Marketing mix elements
contact@moreslides.com
6

7. OPPORTUNITY EVALUATION
1
2
3
REVIEW OF THE
RULE OF 3
REVIEW OF REQUIREMENTS
FOR MARKET SIZE
REVIEW OF RELEVANT
COMPETITIVE SET
contact@moreslides.com
7

8. TARGET MARKET SELECTION
INTRODUCTION TO
MARKET
SEGMENTATION
EQUIVALENT
BEHAVIORS AS THE
CRITICAL VARIABLE
REVIEW OF THE
STRATEGIC
OPTIONS
contact@moreslides.com
8

9. STRUCTURE OF MARKETING MIX STRATEGIES
Are all Mix elements equally important?
Product as the key
Example using Product Life Cycle
contact@moreslides.com
9

10. GENERIC MARKETING STRATEGIES
COST
LEADERSHIP
Lower costs of production and distribution
PRODUCT
DIFFERENTIATION Unique product or brand
Focus
Focus on customer needs in a few segments
contact@moreslides.com
10

11. PRODUCT STRATEGIES
Product Mix Strategies
Market penetration versus market skimming
High
QUALITY
Premium
Goods
Penetration
Super Bargain
Medium
Over-Pricing
Average
Quality
Bargain
Low
Hit and Run
Shoddy Goods
Cheap Goods
High
Medium
Low
Price
contact@moreslides.com
11

12. PRODUCT STRATEGIES
Product Market Growth Strategies
Market
Penetration
Product
Development
(increase usage)
Old
(new uses)
Market
Development
Diversification
Markets
New
(new users)
(new users, new
uses)
New
Old
Products
contact@moreslides.com
12

13. PRODUCT STRATEGIES
Boston Consulting Group Strategy
•
•
Relative Market Share
Market Growth Rate
Problems with BCG Approach
Difficult to estimate relative market share
in rapidly growing markets
contact@moreslides.com
13

14. BCG MATRIX
22%
?
Some cash use
Future cash cow
Market Growth
Rate
High cash use
? Is to build or not
10%
0%
Generate cash for
?, Stars
10x
Low or no cash use
When to divest
1.5x
.1x
(log scale)
Relative Market Share
contact@moreslides.com
14

15. MARKET POSITION STRATEGIES
CONSCIOUS PARALLELISM
•
•
Similar products, prices
Avoid unprofitable segments
MARKET NICHE
•
•
Specialize in a very small group of customers
Concentrated segmentation strategy……
contact@moreslides.com
15

16. MARKET CHALLENGER STRATEGIES (CONT.)
Cheaper Goods Strategy
• Lower quality but much lower price
• Vulnerable to still cheaper goods
Prestige Goods Strategy
• Increase both quality and price
contact@moreslides.com
16