Marketing Strategy and Marketing Plans

This presentation includes various types of strategies that are being now used by big organizations to increase the number of their customers.

1. MARKETING STRATEGIES MARKETING PLAN By: Anushka Verma Source: Marketing greval.levy

2. Marketing Strategy 2 Marketing strategy identifies: A firm’s target market(s) A related marketing mix (its four Ps), and The base on which the firm plans to build a sustainable competitive advantage.

3. Types of Marketing Strategy 3 Types Description Customer Excellence : Focuses on retaining loyal customers and excellent customer service. Operational Excellence : Achieved through efficient operations and excellent supply chain and human resource management. Product Excellence : Having products with high perceived value and effective branding and positioning. Locational Excellence : Having a good physical location and Internet presence.

4. 4 It is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements. THE MARKETING PLAN

5. THE MARKETING PLAN PHASES Planning Phase Define the Business Mission and Objectives Conduct a situation analysis (SWOT) Implementation Phase Identify and evaluate opportunities Segmentation Targeting Positioning Implementation marketing mix and allocate resources Product Price Place Promotion 5 Control Phase Evaluate performance using marketing metrics

6. Implementation of Marketing Plan 6 STEP 1 : Define the Business Mission and Objectives The mission statement a broad description of a firm’s objectives and the scope of activities it plans to undertake, attempts to answer three main questions: What type of business are we? What are our objectives? What do we need to do to accomplish those objectives?

7. Implementation of Marketing Plan 7 STEP 2 : Conduct a Situation Analysis After developing its mission, a firm would perform a situation analysis using a SWOT analysis that assesses both the internal environment about its Strengths and Weakness and the external environment in terms of its Opportunities and Threats.

8. Implementation of Marketing Plan 8 STEP 3: Identify and Evaluate Opportunities Using Segmentation, Targeting, and Positioning (STP) After completing the situation analysis, the next step is to identify and evaluate opportunities for increasing sales and profits using segmentation, targeting, and positioning (STP).

9. Implementation of Marketing Plan 9 STEP 4: Implementation Marketing Mix and Allocate Resources In the fourth step of the planning process, marketers implement the actual marketing mix – product, price, place and promotion - for each product and service based on what they believe their target markets will value.

10. Implementation of Marketing Plan 10 STEP 5: Evaluate Performance Using Marketing Metrics The final step in the planning process includes evaluating the results of the strategy and implementation program using marketing metrics. A metric is a measuring system that quantifies a trend, dynamic, or characteristic. Metrics are used to explain why things happened and project the future.

11. Anushka Verma [email protected] THANK YOU!