CHAPTER -3

ABOUT TOPIC
Formulating the marketing strategy:

Basically, formulation of marketing strategy consists of three main tasks:

1. Selecting the target market,
2. Positioning the offer,
3. Assembling the marketing mix.
This implies that the essence of the marketing strategy of a firm for a given productor
brand can be grasped from the target market chosen, the way it is positioned and how the
marketing mix is organized. The target market shows to whom the unit intends to sell the
products; positioning and marketing mix together show how and using what uniqueness
or distinction, the unit intends to sell. The three together constitute the marketing strategy
platform of the given product.

SELECTING THE TARGET MARKET:

To say that target market selection is a part of marketing strategy development is just
stating the obvious. It does not fully bring out the import of the inseparable likage
between the two. When the selection of the target market is over, an important part of the
marketing strategy of the product is determined, defined and expressed. Marketing
targeting simply means choosing one’s target market. It needs to be clarified at the outset
that market targeting is not synonymous with market segmentation. Segmentation is
actually tee prelude to target market selection. One has to carry out several tasks besides
segmentation before choosing the target market. Through segmentation, a firm divides
the market into many segments. But all these segments need not form its target market.
Target market signifies only those segments that it wants to adopt as its market. A
selection is thus involved in it. Marketing segmentation is a process that throws up not
one but several market segments. There may be segments that are sizeable and the ones
that are not so sizeable. There may be segments assuring immediate profits and the ones
that call for heavy investments in market development. There may also be
segments that show great potential, but display tough barriers to
entry. As such, the question, which segment/segments, the firm should
select as its target market, assumes crucial importance.

STRATEGIC MARKET SEGMENTATION:

Market Segmentation is “dividing up a market into distinct groups that
(1) have
common needs and (2) will respond similarly to a marketing action”,
which was said by Eric N.Berkowitz, Roger A.Kerin, and William
Redulius.

The Segmentation process involves five distinct steps:

• Finding ways to group consumers according to their needs.

• Finding ways to group the marketing actions – usually the products offered –
available to the organization.
• Developing a market-product grid to relate the market segments to the firm’s
products or actions.
• Selecting the target segments toward which the firm directs its marketing actions.
• Taking marketing actions to reach target segments. Markets can be segmented
using several relevant bases. For example, demographic characteristics of
consumers, such as age, sex, income/purchasing capacity, education level etc,
form one base for segmentation. Geographic characteristics constitute another;
and buying behavior of the consumers forms yet another base.

The various types of segmentations are

• Geographic segmentation
• Demographic segmentation
• Psychographic segmentation
• Buyer behavior
• Benefits segmentation
• Volume of purchase segmentation

POSITIONING:
Positioning is a platform for the brand. It facilitates the brand to get through to the target
consumers. It is defined as “the art and science of fitting the product or service to one or
more segments of the broad market in such a way as to set it meaningfully apart from
competition.” Positioning is the act of fixing the locus of the product offer in the minds of
the target consumers. In positioning, the firm decides how and around what parameters,
the product offer has to be placed before the target consumers. The significance of
product positioning can be easily understood from David Ogilvy’s words: “The results of
your campaign depends less on how we write your advertising than on how your product
is positioned”.

Definitions of product positioning:

Sengupta, in his book Brand Positioning says, “ The aim of product positioning is to
create a perception for our brand in the prospect’s mind so that it stands apart from
competing brands… we must cover that space in the consumer’s mind as if we had won a
long-term lease. We must find a strong position in that mind and sit on it….”
Micheal Rothschild, in his book Marketing Communications – From Fundamentals to
Strategies says, “Positioning refers to the place a brand occupies in the mind in relation to
a given product class. This place was originally a product-related concept…. Concerning
market structure. The concept now refers to the place that the brand holds in the
consumer’s mind related to perceptions and preferences”.

Developing a Positioning Strategy:

To create a position for a product or service, Trout and Ries suggest that managers ask
them selves six basic questions.

1. What position, if any, do we already have in the prospect’s mind?

2. What position do we want to own?
3. What companies must be outgunned if we are to establish that position?
4. Do we have enough marketing money to occupy and hold the position?
5. Do we have the guts to stick with one consistent positioning strategy?
6. Does our creative approach match our positioning strategy?

PRODUCT POSITIONING AND BRAND POSITIONING:

It is essential to understand the relationship between products positioning and brand
positioning. Though in discussions, the two terms are synonymously and interchangeable
used, technically they are different. Product positioning denotes the specific product
category/product class in which the given product is opting to compete. And brand
positioning denotes the positioning of the brand viz-a viz the competing brands in the
chosen product category. It is evident that for any product, before entering the market it
has to sequentially carry out the two exercises, product positioning and brand positioning.
In the first step, the product category where the new entrant should enter and compete,
i.e. against what all products it has to compete, has to be decided. In this step, it is the
broad function that the product is trying to serve that matters. This choice of product
category will decide the nature of the competition the product is going
to face. Once product category positioning is decided, the position for
the new entrant against competing brands in the chosen product
category has to be analyzed and fixed.

ISSUES IN PRODUCT POSITIONING:

 Where is the new offer going to compete? As what?
 Which product function/customer need is it trying to meet?
 What other product categories serve this need? In other words, what are the
substitute products that serve the same need?
 Where is the real gap, where is such a new offer most welcome and wanted by the
market?
 What are company’s competencies to fight here?

ISSUES IN BRAND POSITIONING:

In deciding the Brand positioning, the issues are:

 Which are the competing brands in the chosen product category?

 What are the unique claims/strengths of the various brands?
 What position do they enjoy in consumer’s evaluation and perception?
 What is the most favoured position…? And yet vacant?
 Can the new brand claim the needed distinction and take the position and satisfy
the need?
The major dimension of marketing strategy relates to positioning of the offer. The
firm has already selected the target market and decided its basic offer. Now, what is the
conjunction between these two entities? How do they get connected? What is the
interface?

In other words.

What is the locus the firm seeks among the customers in the chosen targer market with its
offering?

How would the firm want the consumer to view and receive the offer?
These are the issues the firm has to grapple with in positioning. And, while
formulating the marketing mix too, the firm will agitate over these issues. The Product
Differentiation and Positioning discusses the multifarious issues involved in the subject.

PRODUCT REPOSITIONING:
Products do undergo ‘repositioning’ as they go along their life cycle. In some cases, even
products that are fairing well are repositioned. This is done mainly to enlarge the reach of
the product offer and to increase the sale of the product by appealing to a wider target
market. The product is provided with some new features or it is associated with some
new target segments.

PROMOTIONAL DECISIONS:

Promotion has been defined as the coordination of all seller initiated efforts to set up
channels of information and persuasion in order to sell goods and services or promote an
idea. While implicit communication occurs through the various elements of the marketing
mix, most of an organization’s communications with the market The basic tools used to
accomplish an organization’s communication objectives are often referred to as the
promotional mix.
The promotional mix ????????????????????????

Advertising:

Advertising is defined as any paid form of non personal communication about an

organization, product, service, or idea by an identified sponsor. The paid aspect of this
definition reflects the fact that the space or time for an advertising message generally
must be bought. An occasional exception to this is the public service announcement,
whose advertising space or time is donated by the media. Advertising is the best-known
and most widely discussed form of promotion, probably because of its pervasiveness. It is
also very important promotional tool, particularly for companies, whose products and
services are targeted at mass consumer markets. It is a very cost-effective method for
communicating with large audiences. It can be used to create brand images and symbolic
appeals for a company or brand.

Direct Marketing:
One of the fastest-growing sectors of the U.S. economy is direct marketing, in which
organizations communicate directly with target customers to generate a response and a
transaction. It has become such an integral part of the IMC program of many
organizations and often involves separate objectives, budgets, and strategies; we view
direct marketing as a component of the promotional mix. Direct Marketing is much more
than direct mail and mail order catalogs. It involves a variety of activities, including
database management, direct selling, telemarketing and direct response ads through direct
mail, the Internet, and various broadcast and print media. One of the major tools of direct
marketing is direct response advertising, whereby a product is promoted through an ad
that encourages the consumer to purchase directly from the manufacturer.
Interactive/Internet Marketing:
Interactive media allow for the back-and-forth flow of information whereby users can
participate in and modify the form and content of the information they receive in real
time. Unlike traditional forms of marketing communications such as advertising, which
are one-way in nature, the new media allow users to perform a variety of functions such
as receive and alter information and images, make inquiries, respond to questions and of
course make purchases. In addition to the Internet, other forms of interactive media
include CDROMs, Kiosks, and interactive television.

Sales Promotion:

The next variable in the promotional mix is sales promotion, which is generally defined
as those marketing activities that provide extra value or incentives to the sales force, the
distributors, or the ultimate consumer and can stimulate immediate sales, sales promotion
is generally broken into two major categories:
Consumer-oriented and
Trade-oriented activities
Consumer-oriented sales promotion is targeted to the ultimate user of a product or service
and includes couponing, sampling, premiums, rebates, contests, sweepstakes, and various
point-of-purchase materials. Trade-oriented sales promotions are targeted towards
marketing intermediaries such as wholesalers, distributors and retailers.

Publicity/Public Relations:

Publicity refers to non personal communications regarding an organization, product,

service, or idea not directly paid for or run under identified sponsorship. It usually comes
in the form of a news story, editorial or announcement about an organization and its
products and services. Like advertising, publicity is not directly paidfor by the company.
An advantage of publicity over other forms of promotion is its credibility. Another
advantage of publicity is its low cost, since the company is not paying its time or space in
a mass medium such as TV, radio or newspapers. Public relations are defined as “the
management function which evaluates public attitudes, identifies the policies and
procedures of an individual or organization with the public interests and executes a
program of action to earn public understanding and acceptance”. Public relations
generally have a broader objective than publicity, as its purpose is to establish and
maintain a positive image of the company among its various publics.

Personal Selling:
It is a form of person-to-person communication in which a seller attempts to assist and
persuade prospective buyers to purchase the company’s product or service or to act on an
idea. Unlike advertising, personal selling involves direct contact between buyer and
seller, either face-to-face or through some form of telecommunications such as telephone
sales. Personal selling involves more immediate and precise feedback because the impact
of the sales presentation can generally be assessed from the customer’s reactions.

ASSEMBLING THE MARKETING MIX:

Assembling the marketing mix means assembling the four Ps of marketing in the best
possible combination. Involved in this process are the choice of the appropriate
marketing activities and the allocation of the appropriate marketing effort/resources to
each one of them. The firm has to find out how it can generate the targeted sales and
profit. It considers different marketing mixes with varying levels of expenditure on each
marketing activity and tries to figure out the effectiveness of different combinations in
terms of the possible sales and profits. It then chooses the combination/mix of products,
price, place and promotion that is best according to its judgment. Since marketing is
essentially an interaction between the marketing mix and environmental variable, and
since the latter and non-controllable, marketing becomes synonymous with assembling
and managing the marketing mix. Of course, while assembling the marketing mix, the
marketing manager will take due note of the environmental variables. Not only will he
take due not of them, he will ensure that his marketing mix suits the environmental
variables. And, its it factor that renders tha task much more complex. MARKEGING
MIX: THE SOLE VEHICLE FOR CREATING AND DELIVERING CONSUMER
VALUE The four elements mentioned above- product, distribution, promotion and
pricing constitute the marketing mix of the firm. The marketing mix is the sole vehicle
for creating and delivering customer value. It can be easily seen that all activities and
programmes, which a marketer designs and caries out in his effort at winning customers,
relate to one or the other of the above four elements- product, place, promotion and
pricing. It can also be seen that in each of these elements, there are several sub-elements.
For example, packaging is one of the sub-elements of product and warehousing is one of
the sub-elements of distribution.

The Four Ps of Marketing:

It was James Culliton, a noted marketing expert, who coined the expression marketing
mix and described the marketing manager as a mixer of ingredients. To quote him, `The
marketing man is a decider and an artist – a mixer of ingredients, who sometimes follows
a recipe developed by others and sometimes prepare his own recipe. And, sometimes he
adapts his recipe to the ingredients that are readily available and sometimes invents some
new ingredients, or, experiments with ingredients as no one else has tried before.
Subsequently, Niel H.Borden, another noted marketing expert, popularized the concept of
marketing mix. It was Jerome McCarthy, the well-known American professor of
marketing, who first described the marketing mix in terms of the four Ps. He classified
the marketing mix variables under four heads, each beginning with the alphabet “P”.
· Product
· Place
· Price
· Promotion

McCarthy has provided an easy-to-remember description of the marketing mix variables.

Over the years, the terms – Marketing mix and Four Ps of marketing have come to be
used synonymously. Assembling and managing the marketing mix is the crux of the
marketing task. And, it is through the marketing mix that the marketing manager achieves
the marketing objectives.
MARKETING STRATEGIES FALL UNDER TWO
CATEGORIES:

We have seen that target market selection, positioning and marketing mixformulation
together constitute marketing strategy. We have also seen that a firm can assemble the
marketing mix elements in many different ways, depending on the relative weightage it
assigns to the different elements. The scope to carve out different combinations is, in fact
immense. As a result, business firms are able to employ an abundance of strategies and
strategy stances in their relentless race to stay ahead of competition. However, a close
scrutiny will reveal that all these strategies can be fitted into two broad categories
1. PRICE ORIENTED MARKETING STRATEGY
2. DIFFERENTIATION ORIENTED MARKETING STRATEGY

In other words, there are only two broad routes available for forging marketing strategies:
any strategy has to be ultimately either a price-oriented strategy or a differentiation
oriented strategy.

PRICE ORIENTED MARKETING STRATEGY:

Firms taking to the price route in marketing strategy compete on the strength of pricing.
They use price as their competitive lever. They juggle the price of their product to suit the
prevailing competitive reality. They can afford to offer lower prices and still make the
targeted profits. They elbow out competition with the cushion they enjoy in the matter of
pricing. Price route requires cost leadership,evidently, a firm opting for the price route
will have to have a substantial cost advantage in their operations. It should be enjoying an
overall cost leadership in the given industry and its lower cost should enable it to secure
above average returns inspite of strong competition. The cost advantage can emanate
from different factors like, scale economies, earlyu entry, a large market share built over
a period of time, locational advantage, or synergy among the different businesses. The
firms whole strategy, in fact will revolve around building such cost advantage. To
successfully practice a price-led strategy, a firm should have consciously taken to the idea
sufficiently early in its evolutionary process and prepared itself for adopting such a
strategy.
DIFFERENTIATION ORIENTED MARKETING
STRATEGY:

The differentiation route of strategy revolves around aspects other than price. It works on
the principle that a firm can make its offer distinctive from all competing offers and win
through the distinctiveness. And, a firm adopting such route can price its product on the
perceived value of the attributes of the offer and not necessarily on competition-parity
basis. Maximum scope for exploiting differentiation remains with the product. While all
the 4Ps of marketing are important elements from the point of view of strategy, the other
Ps normally go as elaborations of the offer, while the product forms its core. Product
differentiation is of vital importance in product management and has great potential in
forgoing successful marketing strategies.
The product can be differentiated along two major planks:
• Tangible product attributes and functions,
• Intangible characteristics and emotional associations.
The tangible product attributes and functions are
• Differentiation based on ingredients,
• Differentiation based on functional value,
• Differentiation based on additional features,
• Packaging contributing to differentiation,
• Differentiation based on Quality, Operational Efficiency, Technology, Service.

DIGITAL MARKETING:
Digital Marketing is the practice of promoting products and services using digital
distribution channels to reach consumers in a timely, relevant, personal and cost-effective
manner . Whilst digital marketing does include many of the techniques and practices
contained within the category of Internet Marketing, it extends beyond this by including
other channels with which to reach people that do not require the use of The Internet. As
a result of this non-reliance on the Internet, the field of digital marketing includes a whole
host of elements such as mobile phones, sms/mms, display / banner ads and digital
outdoor.

BUZZ MARKETING (WORD OF MOUTH):

Word of mouth, is a reference to the passing of information by verbal means, especially
recommendations, but also general information, in an informal, person-to-person manner.
Word of mouth is typically considered a face-to-face spoken communication, although
phone conversations, text messages sent via SMS and web dialogue, such as online
profile pages, blog posts, message board threads, instant messages and emails are often
now included in the definition of word of mouth. There is some overlap in meaning
between word of mouth and the following: rumor, gossip, innuendo, and hearsay;
however word of mouth is more commonly used to describe positive information being
spread rather than negative, although this is not always the case. Word-of-mouth
promotion, also known as buzz marketing and viral advertising, is highly valued by
advertisers. It is believed that this form of communication has valuable source credibility.
Research points to individuals being more inclined to believe WOMM than more formal
forms of promotion methods; the receiver of word-of-mouth referrals tends to believe that
the communicator is speaking honestly and is unlikely to have an ulterior motive (i.e.
they are not receiving an incentive for their referrals). In order to promote and manage
word-of-mouth communications, marketers use publicity techniques as well as viral
marketing methods to achieve desired behavioral response. Influencer marketing is
increasingly used to seed WOMM by targeting key individuals that have authority and a
high number of personal connections.

EVANGELISM MARKETING:
It is an advanced form of word of mouth marketing (WOMM) in which companies
develop customers who believe so strongly in a particular product or service that they
freely try to convince others to buy and use it. The customers become voluntary
advocates, actively spreading the word on behalf of the company. Evangelism literally
comes from the three words of 'bringing good news' and the marketing term justly draws
from the religious sense, as consumers are literally driven by their beliefs in a product or
service, which they preach in an attempt to convert others.

EFFECTIVE SALES PROMOTION:

Sales promotion consists of diverse collection of incentive tools mostly short term,
designed to stimulate quicker and greater purchase of particular products of services by
the consumer. Sales promotion is the only method that makes use of incentives to
complete the push-pull promotional strategy of motivating the sale force, the dealer and
the consumer in transacting a sale.

Price-Offs Offer:
Price-off offers refers to offering the product at lower than the normal price. This
encourages immediate sales, attracts non-users, induces product trail and counters
competition.

Premium:

Premium refers to the offer of an article of merchandise as an incentive in or to sell the

product.

Coupons:
In order to encourage product trail, stimulate re-purchase rate and build loyalty through
news papaers.

Dealer stock display contests:

It is a type of point of purchase advertising which uses the show windows of the dealer
for providing exposure to the sponsor’s products. Dealer participating enthusiastically
and creatively are awarded
DEFENDING MARKET SHARE:
While trying to expand total market size, the dominant firm must continuously defend it
current business against rival attacks. This step is very much essential for the market
leader firm because the challenger firms are constantly to exploit the weaknesses of the
leader firms.

EXPANDING MARKET SHARE:

Market leaders can improve their profitability by increasing their market share. But for
few market leaders whose share in the total market is insignificantly high, the expansion
of market share n the total market may be proved both as expensive and risky. Therefore
it is better for such leader firms in spending their time in building up the market size
rather than expanding the market share. The reason for this action may be attributed to
two factors:
1. The market leader firms might attract the provisions of various anti-trust
legislations. The rival competitors will try to force the Government to bring
legislations against the “MONOPOLISATION”
2. The second reason being the economic factors. The cost of making further gains
in the market share after a large share has been achieved may rise fast and reduce
the profit margin.

HARASSMENT STRATEGY:
The market leader firm will resort to an harassment strategy in order to promote its
market share. As a part of this strategy, the leader form might approach the suppliers and
threaten to reduce its purchases. If the latter supply the upstart firm, sometimes it might
put pressure on distributors not to carry the competitors product. The salesman of leader
firm might speak negatively about competitors. It may also try to hire away the better
executives of an aggressive firm. Sometimes, the market leader firm will try to restrain
these competitions through legal devices. It might push legislation that would be more
unfavorable to the competitors than to itself. The aim of defensive strategy is to reduce
the profitability of attack, divert attacks to less threatening areas, and lessen the intensity
of attack. Any attack is likely to hurt profits. But the defender’s form and speed of
response can make an important difference in the profit consequences.
There are 6 defense strategies that a dominant firm can use:
1. Position Defense :
The basic idea of defense is to build an impregnable fortification around one’s territory.

2. Flank Defense:
The market leader should not only guard its territory but also erect outposts to protect a
weak front or possibly serve as an invasion base for counter attacking.

3. Preemptive Defense:
A more aggressive defense maneuver is to launch an attack on the enemy before the
enemystarts its offense against the leader. Preemptive defense assumes that an ounce of
prevention is worth more than a pound of cure.

4. Counteroffensive Defense:
Most market leaders, when attacked will respond counterattack. The leader cannot
remainpassive in the face of a competitor’s price cut, promotion blitz, product
improvement, or sales territory invasion. The leader has the strategic choice of meeting
the attacker frontally, maneuvering against the attacker’s flank, or launching a princer
movement to cut off the attacking formation from their base operation.

5 . Mobile Defense:

Mobile defense involves more than the leader aggressively defending it territory. In
mobile defense, the leader stretches it domain over new territories than serve as future
centers for defense and offense.

6. Contraction defense :
Large companies recognize that they can no longer defend all the territory. Their focus
are spread too thin, and competitors are nibbling away on several funds. The best course
of action then appears to be planned contraction (also called strategic withdrawal).

INNOVATION STRATEGY:
The market leader may innovateseveral strategies in respect of new product ideas,
customer services, means of distribution, cost cutting discovery. In addition to these, a
leader may discourage its competition particularly challenge firm.

FORTIFICATION STRATEGY:
In order to protect its market share, the market leader may try to keep
it product prices reasonable in relation to the perceived valued of the
offer and competitors offer. The leader produces it brand in a variety of
sizes and firms.

CONFRONTATION STRATEGY:
If leader firm faces an extremely aggressive challenger, whose actions demand a quick
and direct response. In such a situation, the market leader will engage any promotional
war, engaging in a massive promotional expenditure that the aggressive challenger cannot
match. The leader firm may engage in the price war whenever a new challenger is
considering to enterin its market. This strategy will frighten the potential competitions
and make then to withdraw from entering the market.

INTRODUCTION TO THE TOPIC

Today’s society is warm with urbanization and demonstration effect. With a view
towards it, there are drastic changes coming up in all sectors even in the automobile
industries. The following information gives an insight about it. In the present context the
companies operate on the principle of natural selection –
“Survival Of The Fittest”. Only those companies will succeed which at best match to the
current environmental imperatives – those who can deliver what people are ready to buy.
But real marketing does not involve the art of selling what the manufacturers make.
Organizations gain market leadership by understanding consumer needs and finding
solutions that delight consumers. If customer value and satisfaction are absent, no amount
of promotion or selling can be compensate . Hence the aim of marketing is to build and
manage profitable customer relationship.
This is a part of the strategic marketing done by every company to achieve it objectives
and goals. To maximize the profits and long term plans every organization has to follow a
strategic planning. Marketing is much more than just an isolated business function – it is
a philosophy that guides the entire organization towards sensing, serving and satisfying
consumer needs. The marketing department cannot accomplish the company’s customer
relationship-building goals by itself. It must partner closely with other departments in the
company and with other organization throughout its entire value – delivery network to
provide superior customer value and satisfaction. Thus marketing calls upon everyone in
the organization to “think customer” and to do all they can to help build and manage
profitable customer relationship. Marketing is all around us, and we need to know that it
is not only used by manufacturing companies, wholesaler and retailers, but also by all
kinds of individuals and organizations
There are four major, powerful themes that go to the heart of modern marketing theory
and practice, they are:
1. BUILDING AND MANAGING PORFITABLE CUSTOMER
RELATIONSHIPS.
2. BUILDING AND MANAGING STRONG BRANDS.
3. HARNESSING NEW MARKETING TECHNOLOGIES IN THIS DIGITAL
AGE.
4. MARKETING IN A SOCIALLY RESPONSIBLE WAY AROUND THE
GLOBE.
What marketing is what it does and what it offers?
“Marketing is a social and managerial process whereby individual and groups obtain
what they need and want through creating and exchanging products and value with
others.” “Marketing management is the process of planning and executing the
conception, pricing, promotion and distribution of ideas, goods and services to create
exchanges that satisfy individual and organizational goals.” “Marketing offers some
combination of products, services, information, or experiences offered to a market to
satisfy a need or want” Marketing is an orderly and insightful process for thinking about
and planning for markets. The process starts with researching the market place to
understand its dynamics. The marketer uses research methodologies to identify
opportunities, that is, to find individuals all groups of people with unmeet needs or latent
interest in some products or service.
The marketing process consists of the following:
1. Analyzing marketing opportunities.
2. Developing marketing strategies.
3. Planning marketing programs
4. Managing the marketing efforts.

Before taking any decision and achieving the goals, it has to make analysis of what to do,
how to do, when to do, where to do and who is to do it. This is nothing but strategic
planning. Goals indicate what a business units wants to achieve whereas strategy is how
to get there. Marketing strategies in simple terms are the complete and unbeatable plans
designed specifically for attaining the marketing objectives of the firm. Marketing can be
called as a game plan for achieving its goals. Strategy choice will depend on whether the
firm or the marketer plays the following roles:
• Market leader
• A challenger
• A follower
• A nicher
The identification of objectives, both in quantitative and qualitative terms, is an essential
backdrop to strategy formulation. Goals have a quality and time frame attached to them.
These are typically spelt out in terms of financial return, market share, market presence,
etc. Thus, the concept of market oriented strategic planning arises with the link between
the products the link between the products the manufacturer is dealing in and the market
conditions. In this direction, our study deals only with the marketing strategies i.e.
promotional strategies of the Ford automotives.