Strategic Marketing

BasantP
 Agenda

• Overview
• Assessment Components

• Strategic Marketing blueprint

• Importance of Marketing Strategy
• 1. What Business Are You In? [Levitt, 2006; HBR]
• 2. Note on Marketing Strategy [Dolan 2000; HBS]

20-06-2023 2
 Overview of the course

1] Introduction & Importance of Marketing Strategy (MS) -3

• Why Levitt’s articles? Why GE’s case study?

2] Strategic marketing Plan -1

20-06-2023 3
 Overview of the course
4] Hierarchy of MS Decisions -3
5] STP-5
6] Marketing-mix [4Ps] Strategies -5
7] Strategy Implementation, Control, & Metrics -3

• Final MarkStrat Simulation(19th Session)

Learning : Decision making process …15 minutes
75%* score (as per SPI) + 25% *(learning/PPT…revised submission)
*yet to be decided

20-06-2023 4
 Overview

• MarkStrat Simulation(5th, 10th, 15th & 19th session: 4X7.5 Marks)

• Maximize the Share Price Index (SPI):
• net contribution generated
• market share
• organization’s revenues growth
• quality of projects successfully completed

• Decide the overall direction of the company regarding:

Product portfolio strategy, Segmentation and positioning strategy, Marketing mix strategy

20-06-2023 5
MarkStrat Presentation

Situation Objective Action Plan Outcome Competency Constraints &

Analysis demand
Research report Obj1 AP1
Ap2
Ap3
Obj2 Ap4
Ap5

20-06-2023 6
 Assessment Components

• End term 40
• Mainly subjective questions [based on brief events’ description/caselets]
• To check
• Critical thinking, assumptions, decision making & criteria

• MarkStrat Simulation 30
• Review after 2, 4, 7, 10 rounds

• Quiz(2) 30 [session 7, 14]*

• Announced
• To be decided by CRs*

20-06-2023 7
 Strategic Marketing(SM)
• Marketing? • Strategy?
• Mean? • Mean?
• When will it prosper? • When will it prosper?

• SM
• Mean?
• Antecedents?
• Consequences?

20-06-2023 8
Strategic Marketing(SM)
• What is SM?

Action plans to

Achieve pre-determined marketing goals by catering marketplace

demands given the constraints (internal & external)

Create & capture value on a sustained basis

9
 SM Blueprint

• Audit → Strategy → Translation → Evaluation

• Can you improvise this process?
 SM Blueprint

Audit → Strategy → Translation → Evaluation

• Audit: Internal [4 Ms] Vs. External environment

• Frameworks?
• Strategy: STP guided by vision & mission
• Frameworks?
• Translation: 4Ps
• Frameworks?
• Evaluation: Metrics
• Frameworks? 11
 Importance of SM

• To foil opponents
• To foster self

12
 Importance of SM

• Imbalance of supply & demand

• 2 biggest constraints? 13
Importance of SM

14
Resources
Environmental Forces
 Importance of SM
• Principles employed by big companies
• Ideas, money, talent
 Importance of SM

• Marketing – generation, dissemination of, response to market

intelligence
Elements of SM

• Clear long-term & short-term goals

• Audit
• Internal, external
• STP
• Mktg. Mix
• Implementation

17
 What business are you in [Levitt]

• Defining market
• Wrong way, right way
• Examples

• If thinking is an intellectual response to a marketing problem, absence

of such problem is_________

• Problem with auto-expanding market?

 What business are you in [Levitt]

• Do people buy
• Vehicles?
• Fuel?
• Movie tickets?
• White goods?

• Assessment of customer’s perceived value?

• Signs of bad/declining customer relationships?

• Share some examples of firms investing in customer relationships

 What business are you in [Levitt]

• Was mass production the cause of low prices?

• $ 500 Ford car
Note on Marketing Strategy

• What is a need?

• 5 Cs:
• Customer, company, competition, collaborators, context

• Marketing process?

• Behavioural segmentation?
Note on Marketing Strategy

• Template of positioning statement?

Product mix & line

23
Product mix & line

• Pharmaceuticals?

• FMCG?

24
25
Product mix & line

• What is the purpose of

• Product mix?
• Product line length?
• Product line depth?

26
Note on Marketing Strategy

• Anything else?
Next

• Case : General Electric: Reg Jones and Jack Welch

• Supplementary video:
• Jack Welch's Top 10 Rules For Success @jack welch
• https://www.youtube.com/watch?v=oljLouQUz5s