plan and policies of marketing in Strategic management

strategic management
plan and policies on marketing strategy
4P of marketing

1. Marketing plans and policies Submitted by :- Parsi karayala Roll no.:- 1700104047029 Submitted to:- Mrs. Ramandeep Kaur

2. Strategic Marketing planning Marketing plan :- a written document that act as a guidebook of marketing activities for the marketing manager. A strategic market plan gives direction to a firm’s efforts and better enables it to understand the dimensions of marketing research, consumer analysis, and product, distribution , promotion and price planning.

3. Decision Related to Marketing S trategy Marketing intelligence :- marketing intelligence is the efforts taken by the firm to interpret the competitor’s strategies and to consider the future actions. Some of the major issues in concern are pricing policies, product launch, segmentation basis, new distribution channels and enhanced services facilities

4. segmentation :- By conducting suitable market segmentation a firm can analyse the market thoroughly and also position the product in the market effectively. A product market segment helps to gain the varying tastes and preferences of customers. For each segment, a detailed study of consumers behaviour and organisational buyers is also done along with the entire strategic competitive situations.

5. Product :- on the basis of product characteristics like quality, packaging, branding, choice of models, tec., the policies and plans for a product is formulated. The strategies related to a product comprise of product objectives, product line, product mix, target market. These strategies are carried out to define the product and market characteristics.

6. New product development :- developing a new product primarily includes generation of ideas, screening, business analysis etc., Pricing :- In pricing , the strategy followed includes competitive positioning, product mix, brand strategy, promotional salesforce strategies. Place :- consist of factors like channel selection, channel design, channel management, physical distribution system management. Promotion :- it refers to marketing communication which helps the firm to portray its product and services image in the minds of potential customers.

7. Organisation and infrastructure:- the organisation and its infrastructure can be marketed by taking into consideration the factors like developing, planning, controlling and information system of an organisation. The rewards and incentives schemes within an organisation are based on the marketing strategy and work culture of the firm. Integrative and systemic factor:- the factors related to the organisational system include various plans and policies such s marketing mix, segmentation, targeting, market standing, company image etc.

8. Process of developing marketing strategy Segmenting the market:- there is a possibility of having a large group of people, who have identical needs or wants and who act in the same way as the marketing activities carried out for a particular product. The process of segmentation divides a large market into sub- markets so as to identify the homogeneous markets. These markets are:- 1. identical in terms of their needs 2. substantially different from other groups or segment.

9. Selecting the target market :- A firm may choose any one segment from the above options. Different segment provide different outputs. It is a difficult task to select the right target market segment even if a proper analysis of the risk associated, profitability ratios and number of competitors to be faced in the market is done. Positioning the offer:- now the firm needs to find answer for few question:- 1. is there any co-existence between the target market and the offer? 2. are they connected to each other in anyways? 3. how would the firm want the consumer to view and receive the offer?

10. Assembling the marketing mix:- this involves selection of suitable marketing activities and distribution of suitable marketing efforts for each P of marketing mix.