Marketing Strategy

Marketing Strategy has been designed to help students in achieving the course outcomes like DISCOVER perspectives of market strategy, UNDERSTAND the intricacies of competitive marketing situations and ways to handle each situation, BUILD a market strategy through integrating concepts like product life cycle, adoption, and segmentation, branding, pricing, distribution, and market communication, ANALYSE a company’s current situation through applying internal and external analyses, EXPLAIN alternative ways to measure the outcome of market strategies, and, CREATE Corporate Advantage by exploring how the scope of firms is influenced by resources that are shared across products. The book has been divided into five units. Unit 1, Basics of Marketing Strategy deals with concepts like Introduction to Marketing Strategy & tactics, Components & Hierarchy, Integrating marketing strategy with the firm’s other strategies & resources, Discovering Market Opportunities: Marketing Strategy - Market Opportunity Analysis, Process of Identification, Formulation, Implementation & Control, Marketing Plan - Blueprint, and Marketing Audit. Unit 2, Measuring Market Opportunities, deals with aspects Market Forecasting: Introduction, Purpose, Techniques Forecasting Based on Current Demand: Market build-up method, chain ratios, market factor index method Forecasting Based on Past Demand: Time series analysis, Trend analysis, Leading indicators Forecasting through Experimentation: Concept testing, Test marketing Forecasting through Intentions & Expert Opinion: Buyers intentions, salesforce opinion, trade opinion, expert opinion, Delphi method, Bootstrapping, Cross impact analysis Market Knowledge Systems: Marketing Intelligence, Marketing Databases, Marketing Data Touch Points-Significance & Application. Unit 3, Targeting Attractive Market Segments & Positioning, deals with Choosing Attractive Market Segments – Segment synergies, Segment invasion strategy, Factors influencing the choice of Targeting, A five-step process Different Targeting Strategies: Mass market, niche market, growth market, Differentiation Based on Product, Image, Channel, Personnel & Services Positioning Process: Identifying relevant competitors, identifying determinant attributes, collecting information on perceptions of products. Unit 4, Marketing Strategies for New Economy, discusses Market Specific Strategies: Strategies for New Entrants, Strategies for Growth Market, Strategies for Mature Market, Strategies for Declining Market, Organisational Specific Marketing Strategies: Marketing Strategies for Leaders, Challengers, Followers, Niche Competitive Strategies: Introduction to Competitive Edge, USP, Integration, Focus, Differentiation, Retrenchment strategies. Unit 5, Marketing Metrics for Marketing Performance, explains concepts like Gap Identification & Bridging Tools: Strategic Gap Planning Model, BCG Matrix, Family Portfolio matrix, Porter’s Five Forces, Ansoff Matrix, Market profitability analysis Designing Marketing Metrics - Process: Setting standards of Performance, Specifying & Obtaining Feedback Data, Evaluating Feedback Data, Taking Corrective Actions, Organizational Issues, and Strategic wear-out.