MODULE 1 AN INTRODUCTION TO MARKETING AND ITS BASIC CONCEPTS

1 Meaning and Scope of Marketing 2 Fundamental Marketing Concepts 3 Company orientations towards the Marketplace 4 Marketing and customer value 5 Strategic Planning 6 Marketing plan 7 Marketing in the Indian Economy implications

Companyrsquos orientation towards the marketplace

The various concepts used by organizations can be classified as follows

bull Production conceptbull Product conceptbull Selling conceptbull Marketing conceptbull Holistic marketing concept

A special insightIn this context what needs to be understand is that the 4Prsquos

have to be added with two more Psrsquo

6Psrsquo make a holistic framework4Prsquos + 5th P (people) + 6th P (process)People will have to be oriented towards the market place andthe processes will have to be constantly reviewed to ensure

thatevery business action is in sync with the market philosophy

Only when this concept sinks into an organizational approachwill Holistic Marketing have truly been assimilated

Marketing and customer value

Value is a sum total of tangible and intangible perceived by the consumer for the price that he pays

Marketers must first choose the value delivery process and communicate superior value by fine tuning the process

Marketing has to constantly create and deliver value to the consumer

The Customer delivered value is the difference between total customer value and total customer cost

The total customer value is the bundle of benefits customer expects from a given product or service

Total customer cost is the bundle of costs customers expect to incur in evaluating obtaining using and disposing of the product or service

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Companyrsquos orientation towards the marketplace

The various concepts used by organizations can be classified as follows

bull Production conceptbull Product conceptbull Selling conceptbull Marketing conceptbull Holistic marketing concept

A special insightIn this context what needs to be understand is that the 4Prsquos

have to be added with two more Psrsquo

6Psrsquo make a holistic framework4Prsquos + 5th P (people) + 6th P (process)People will have to be oriented towards the market place andthe processes will have to be constantly reviewed to ensure

thatevery business action is in sync with the market philosophy

Only when this concept sinks into an organizational approachwill Holistic Marketing have truly been assimilated

Marketing and customer value

Value is a sum total of tangible and intangible perceived by the consumer for the price that he pays

Marketers must first choose the value delivery process and communicate superior value by fine tuning the process

Marketing has to constantly create and deliver value to the consumer

The Customer delivered value is the difference between total customer value and total customer cost

The total customer value is the bundle of benefits customer expects from a given product or service

Total customer cost is the bundle of costs customers expect to incur in evaluating obtaining using and disposing of the product or service

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

A special insightIn this context what needs to be understand is that the 4Prsquos

have to be added with two more Psrsquo

6Psrsquo make a holistic framework4Prsquos + 5th P (people) + 6th P (process)People will have to be oriented towards the market place andthe processes will have to be constantly reviewed to ensure

thatevery business action is in sync with the market philosophy

Only when this concept sinks into an organizational approachwill Holistic Marketing have truly been assimilated

Marketing and customer value

Value is a sum total of tangible and intangible perceived by the consumer for the price that he pays

Marketers must first choose the value delivery process and communicate superior value by fine tuning the process

Marketing has to constantly create and deliver value to the consumer

The Customer delivered value is the difference between total customer value and total customer cost

The total customer value is the bundle of benefits customer expects from a given product or service

Total customer cost is the bundle of costs customers expect to incur in evaluating obtaining using and disposing of the product or service

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Marketing and customer value

Value is a sum total of tangible and intangible perceived by the consumer for the price that he pays

Marketers must first choose the value delivery process and communicate superior value by fine tuning the process

Marketing has to constantly create and deliver value to the consumer

The Customer delivered value is the difference between total customer value and total customer cost

The total customer value is the bundle of benefits customer expects from a given product or service

Total customer cost is the bundle of costs customers expect to incur in evaluating obtaining using and disposing of the product or service

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Marketing has to constantly create and deliver value to the consumer

The Customer delivered value is the difference between total customer value and total customer cost

The total customer value is the bundle of benefits customer expects from a given product or service

Total customer cost is the bundle of costs customers expect to incur in evaluating obtaining using and disposing of the product or service

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Value delivery process The delivery process has three stages ndash First phase choosing the valueThis is the first phase of determining what should be the

valueoffered to the consumerbull Homework before any product is marketedbull Segment the market select the target and develop thevalue positioningbull STP ndash seg targeting positioning is the essence ofmarketingndash Second phase providing the valuebull Developing product features pricing sourcing makingdistributing the product

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Third phase communicating the valueUtilise sales force promotion advertising masscommunicationNirmallya Kumar has proposed a 3 V approach to

marketing3Vrsquos Value segmentValue propositionValue networkbull Value segments ndash customers ( hisher needs)bull Value proposition ndash product offeringbull Value network - channel method of delivering thevalue

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

The concept of Value Chain bull Michael Porterrsquos value chain is a tool

for creating more customer valueAccording to this model every

business gets into nine value creating activities out of which five are primary activities and four are support activities

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

bull Primary activities bringing materials (inbound logistics) converting them into final products (operations)shipping out final products (outbound logistics)marketing (marketing and sales)servicing (service)bull Support activities procurement HR technologydevelopment and firm infrastructureThe firm constantly examines costs and performance in each ofthese value creating activity and looks for ways to improve thefunction The firm analyses the competitors costs andbenchmarks against which to perform It also establishes lsquo bestpracticesrsquo and makes them industry standards

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

bull All of these must be aligned to the core businessprocessesbull Today companies are partnering with suppliers anddistributors to create a superior value network or a supplychainCore competenciesCore Competencies refer to areas of special technical and

production expertise distinctive capabilities describes excellence in broader business process

Outsource others to reduce overheads and concentrate onthe core

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Holistic marketing framework and customer value

Holistic marketing is about

Value exploration Value creation Value delivery

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Who Markets

A marketer is someone who has a product service to offer

sell He seeks response from the other party a prospect theone who receives the message and decides to act upon it

Marketers stimulate demand in the marketplace for theircompanyrsquos products demand management is an importantfunction for any marketing department

Marketers seek to influence the level of demand time ofdemand and composition of demand

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Eight states of demand are possible 1 Negative demand Consumers dislike the

product and may even pay a price to avoid it2 Non Existent demand Consumes may be

unaware or uninterested in the product3 Latent demand Consumers may share a

strong need that cannot be satisfied by an existing product

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

4 Declining demand Consumers buy less frequently or not

at all5 Irregular demand Consumer purchases vary onoccasional basis seasonal weekly monthly6 Full demand Consumers are adequately purchasingexpected levels of products7 Overfull demand More consumers want the product

butcanrsquot be satisfied8 Unwholesome demand Consumers are attracted toproducts that have undesirable social consequences

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

What are the tasks of Marketing management

bull Developing marketing strategies and plansbull Capturing marketing insightsbull Connecting with the consumersbull Building strong brandsbull Shaping the market offeringsbull Delivering valuebull Communicating valuebull Creating long term growth

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Apple unveils new tablet computer the iPad

28 January 2010

SAN FRANSISCO Apple Inc CEO Steve Jobs took the wraps off the highly anticipated iPad tablet and pitched it at a surprisingly low price aiming to bridge the gap between smartphones and laptops

Jobs who returned to the helm last year after a much-scrutinized liver transplant took the stage at a packed theater on Wednesday and showed off a sleek half-inch thick tablet computer with a 97-inch touchscreen

What once occupied half your living room can now be dropped in a bag said NPD analyst Ned May Its pulling together a variety of needs (in) a universal entertainment device

The iPad will sell from late March for as low as $499 for 16 gigabytes of storage

Pricing is very aggressive so its pretty positive from a mass adoption perspective It was about $200 lower than what I was expecting said Brian Marshall an analyst with Broadpoint Amtech

Other analysts had speculated that the tablet may cost as much as $1000

In an online poll before Wednesdays media event 37 percent of more than 1000 respondents said they would pay $500-$699 for the tablet

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

iPhone-like anticipation

The iPad is Apples biggest product launch since the iPhone three years ago and arguably rivals the smartphone as the most anticipated in the companys history

Wednesdays event follows months of feverish speculation on the Web and on Wall Street

Shares of Apple rose to as high as $21058 after the pricing news up 55 percent from their session low Apple announced a data plan with ATampT Inc which appeared to have beaten out Verizon Wireless for the deal

Shares of ATampT Apples carrier partner on the iPhone rose 114 percent while Verizon Communications Inc fell about 1 percent

Apple hopes to sell consumers on the value of tablets after other technology companies including Microsoft Corp and Toshiba Corp have failed in recent years

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Developing marketing strategies and plansndash Identify long and short term potentialsndash Make strategic and tactical plans

bull Capturing marketing insightsndash Closely monitor marketing environmentndash Gather information both at micro and macro levelsndash Establish marketing information system marketingresearch system marketing implementation systemmarketing control system

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Strategy Originally the word strategy has been

derived from Greek lsquoStrategosrsquo which means generalship The word strategy therefore means the art of the general

When the term strategy is used in military sense it refers to action that can be taken in the light of action taken by opposite party

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Strategic planning refers to management process in organizations through which future impact of change is determined and current decisions are taken to reach a designed future

Strategic planning

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Connecting with the consumersndash Develop strong long term relationship withcustomersndash Where what why they buy is to be understoodndash Segment the market and identify the targets in

eachgroupBuilding strong brandsndash Develop products with strong brand namesndash Establish these brands monitor them and keepevaluating them

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Understand competitionbull Shaping the market offeringsndash Product quality design shape price

maintenanceafter sales service discounts schemes credit

terms

bull Delivering valuendash Determine channels of distributionndash Make it available within easy reach of the

customers

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Communicating valuendash Develop and run marketing communications toinform persuade remind consumers directly orindirectly about the brands they sellndash Develop mass programmes sales promotions directselling public relations interactive marketing andother activitiesbull Creating long term growthndash Initiate programmes to constantly monitor growthndash Product relaunches new product developmentevaluating marketing programmes should beconstantly undertaken

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Marketing Plan

1048729 What is a marketing plan - A marketing plan is a written document that

summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives

- It is the act of putting together in a plan the various elements of the marketing mix in a forecasted futuristic approach

1048729

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Elements in a plan

- Mission statement ndash Why we are here and what the companyrsquos end aim of business is

- SWOT (Situation) Analysis ndash Where are we

- Objectives of the plan ndash where do we want to be

- Strategy programme ndash How do we reach there

- Budgets forecast PampL ndash At what cost

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

1 Mission Statement- Mission statement ndash companyrsquos end aim of

business- Mission statements reflect a vision- Mission statement should have three

characteristics1048729 Focus on limited no of goals1048729 Stress the major policies and values1048729 Define competitive sphere within which the

companywill operate

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

2 SWOT AnalysisSWOT analysis is the strengths weaknesses opportunitiesand threats analysis It involves monitoring external andinternal environment factorsOpportunity and Threat are external factors externalenvironmental issues having a bearing on our businessA major purpose of environmental scanning is to find newopportunitiesCompanies can use a Market Opportunity Analysis

(MOA) todetermine the attractiveness and probability of success

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

DemographicEconomic

environment

DemographicEconomicenvironment

Social CulturalenvironmentPolitical legal

environment

TechnologicalPhysicalenvironment

Suppliers Public

Marketingintermediaries

Competitors

MktgInfo System

MktgPlg System

Mktgcontrol system

Mktg Implem System

Target Consumer

Product

Place

Promotion

Price

Factors influencing the strategy

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

3 Goal Formulation Objective settingAfter the SWOT goals have to be set for the specified planperiodWhile setting goals care should be taken to do the

following1 They must be arranged hierarchically from the mostimportant to the least important2 Objectives should be stated quantitatively as far aspossible3 Goals should be realistic4 Objectives must be consistent

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

4 Strategy Formulation ProgrammeImplementationGoals indicate what the business wants to

achieve strategy laysdown a long term approach path to reach thereMichael Porter laid out three generic strategies

that provide astarting point in building a strategy plan1 Overall cost leadership2 Differentiation3 Focus

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Overall cost leadership means that in the industry the firm willachieve the best value engineering and thereby reduce cost ofproduction

Differentiation means achieving performance in an importantcustomer benefit area valued by a large part of the market Thefirm should be able to offer a superior differentiation comparedto competition

Focus means that the business will focus on a narrow segmentThey will achieve cost leadership or differentiation within thetarget segment

Yet another area of strategy formulation is the idea of strategicalliance with another partner Strategic alliances can take theform of marketing alliances

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

5 Budgets Forecasts PampLAny plan has to be followed with a

detailed budgeting exercise putting down costs money required for the project and the expected returns and variances expected This should be done for the plan period and also for the next two or three years

Feedback and control becomes very important to do course correction and also redraft the plan if necessary

Feedback and control becomes very important to do course correction and also redraft the plan if necessary