Lecture 4.pptxComprehensive Social Media Strategy for My Online Brand.docx

Comprehensive Social Media Strategy for My Online Brand.docx

1. Strategic Marketing Course Instructor: Muhammad Kamran Bais

2. Elements of a good marketing plan Explains present and future situation – Situation and SWOT analysis Explains expectations – Goals and Objectives Explains specific actions to take – strategies Identifies resources that will be required Outlines what the evaluation and control measures

3. Some relevant terms Crisis management The process of handling a high-impact event characterized by ambiguity and the need for swift action to access and respond to potential damage. Continuity planning The strategies, systems, and procedures that help ensure that a firm’s policies are in place and operating .

4. MAINTAINING CUSTOMER FOCUS AND BALANCE IN STRATEGIC PLANNING Companies have turned their focus more towards customers in the past 2 decades. There is a shift in attitude, where the customer is the center of attention for companies.

5. MAINTAINING CUSTOMER FOCUS AND BALANCE IN STRATEGIC PLANNING Customer-Focused Planning: Early 20 th Century: Focus remained on production efficiencies. Mid 20 th Century: Focus shifted to selling. Late 20 th Century: Focus shifted to customer satisfaction. 21 st Century: focus on long-term, value-added relationships with customers, employees, suppliers, and other partners.

6. MAINTAINING CUSTOMER FOCUS AND BALANCE IN STRATEGIC PLANNING Customer-Focused Planning: Market Oriented Company: Firms that successfully generate, disseminate, and respond to market information. Focus its efforts and resources toward understanding customers in ways that enhance the firm’s ability to generate sustainable competitive advantages. Every level of the organization has its focus on serving customer needs .

7. MAINTAINING CUSTOMER FOCUS AND BALANCE IN STRATEGIC PLANNING Customer-Focused Planning: Role of Technology: Change in how companies can know more about their customers and product usage through the advent of sensors, cloud-based storage, and analytics of online activity. Synthetic customer vision: The ability of marketers to see their products from the virtual eyes of the customer by analysing multiple data sources.

8. MAINTAINING CUSTOMER FOCUS AND BALANCE IN STRATEGIC PLANNING Balanced Strategic Planning: Helps companies keep track of important assets such as customer relations, human resources, innovation etc. ESG Framework: Environmental: climate change, natural resources , pollution etc. Social: stakeholders, social responsibilities etc. Governance: ethics, transparency etc. ESG framework is assessed based on multiple data points that return an overall rating. MSCI and Sustainalytics, Bloomberg, and Moody’s are some of the organizations that provide ESG ratings.