MARKETING

STRATEGY
NILAMADHAB MOHANTY
WE WILL DISCUSS…!
 Marketing models used in planning and management of
marketing activities
MARKETING PLANNING
MODELS
 Model 1: The 7Ps  Model 6: Porter’s Five
 Model 2: AIDA forces
 Model 7: SOSTAC®
 Model 3: The Ansoff
Matrix  Model 8: SWOT
 Model 4: The BCG (TOWS) matrix
Matrix  Model 9: PESTLE
 Model 5: DRIP analysis
THE 7PS OF THE MARKETING
MIX
 To review and define the key issues that effect marketing
of its products and services
 The 7Ps of marketing mix
 Product
 Price
 Place
 Promotion
 Processes
 Physical Evidence
 People
HOW TO USE 7Ps OF
MARKETING
 Enlist aspects of the business that need to be considered
 Develop objectives
 Conduct a SWOT analysis
 Conduct competitive advantage analysis by comparing
your business with competitors
7P element QUESTION TO BE ASKED INTERVENTION
TO BE
UNDERTAKEN

Products/Services What product/service you want to

develop?
What changes do you want in your
product/services?

Prices/Fees How can you change your pricing

model?

Place/Access What new distribution options are

there for customers to experience
our product, e.g. online, in-store,
mobile
Promotion How can you add new media
channels of promotion?
How can you change an existing
channel of promotion?
7P element QUESTION TO BE ASKED INTERVENT
ION TO BE
UNDERTAK
EN

How we reassure our customers, e.g.

Physical Evidence impressive buildings, well-trained staff,
great website? The tangible elements of
the services and the servicescape (the
total environment in which service
encounter takes place)

How can we improve service?

Processes
Who are our people and are there skills
People gaps?

Are we seeking new partners and

Partners managing existing partners well?
WHAT YOU WANT TO
ACHIEVE THROUGH YOUR
MARKETING CAMPAIGNS?
AIDA
 AWARENESS of the existence of a product or service
 INTEREST in paying attention to the product’s benefits.
 DESIRE for the product.
 ACTION and purchasing the product, downloading
information or making an enquiry.
HOW TO USE?
AIDA Step ASSESSMENT QUESTIONS

Awarenes How do we make buyers aware

s of our products?
Interest How will we gain their interest?
Desire What makes this product
desirable?
Action Where are the calls to action?
HOW CAN YOU IDENTIFY
POTENTIAL NEW MARKETS,
NEW PRODUCTS AS WELL AS
PRODUCT DEVELOPMENT
OPPORTUNITIES
THE ANSOFF MATRIX

SOURCE: https://www.marketing10.in/understanding-an-ansoff
-matrix-with-examples-in-detail/
 Strategy
STRATEGY WHAT DOES THIS ACTIONS
MEAN?

Market How to sell more of your Reduce the order interval

Penetration existing products or services Increase the average order value
Strategy to your existing customer Demonstrate the entire product
base. selection
Increase or change opening hours

Market How to move into new New geographic markets

Development markets. New customer segments
Strategy
Strategy WHAT DOES ACTIONS
THIS MEAN?
Product How do develop Can the product be made cheaper?
Development your existing Can the product be made locally?
Strategy products or Can you increase quality?
services. Can you change the packaging?
Can ask your customers or potential customers what they
want?

Diversification How to move into •Related Diversification -Can you move into a new
Strategies new markets with market with a new product offer using the skills within
new products or the business?
services. •Diversification into unrelated business
•Upstream integration with suppliers
•Downstream integration with intermediaries
WHAT SHOULD YOU DO WITH
YOUR EXISTING
PRODUCT/SERVICE PORTFOLIO?

WHETHER TO DISCONTINUE OR
DEVELOP PRODUCTS?

HOW TO ALLOCATE
RESOURCES (MARKETING
FUNDS)?
THE BCG MATRIX
 The matrix considers the opportunities for growth of a
business through reviewing its portfolio of products
 The matrix comprises of four quadrants which are
segmented based on market growth rate and relative
market share
BCG ELEMENT CHARACTERISTICS ACTION
Dogs Low growth and low Remove any dogs from your
market share product portfolio. Keep dog
products that can generate
ongoing revenue and cost
little to maintain
Questions High growth but low These products often require
marks/Problem market share significant investment to
Children it may not be clear as to make them the stars
whether they will become
a star or the dog
Stars High-growth with high Require ongoing investment
market share to maintain the position
Cash Cows Low-growth markets with Continue the product
high market share- often
mature, well-established
products
IF LAUNCHING A NEW
PRODUCT OR SERVICE, YOU
NEED TO USE DRIP TO
DEVELOP YOUR OBJECTIVES
DRIP
 Differentiate a product or service
 Reinforce a brand’s message
 Inform people about the brand
 Persuade target market to behave in particular ways
 DRIP ELEMENTS
DRIP Element Explanation

Differentiate a To make a product or service stand out in the

product or service category.
Reinforce a This means demonstrating or explaining why your
brand’s product is different, superior, cheaper or easier to
Message use.
Inform or make To make known and advise of availability and
people aware of a features. If it’s a totally ‘new to market’ product, this
brand may also be to educate the market.
Persuade To encourage further positive purchase-related
audiences behaviour. This could be to visit a website, read
to behave in about a new product, share with a friend, request a
 WHILE LAUNCHING A
PRODUCT OR RE-
POSITIONIONG
 DRIP is a good place to start with marketing
communications planning
DRIP Rationale Objective How was this executed?
Element

Differentiate

Reinforce

Inform

Persuade
HOW TO IDENTIFY WHO HAS
THE POWER IN DIFFERENT
SCENARIOS ACROSS EACH
INDUSTRY YOU WORK (OR
WANT TO WORK) IN?
PORTER’S FIVE FORCES
PORTER’S ASSESSMENT QUESTIONS
FORCES

Competitive What’s the level of competition in this sector?

rivalry What’s the competitor situation? Many
competitors and you’re all in a commodity
situation or a few?
Threat of How easy is it to find an alternative to this
substitution product or service?
Can it be outsourced? Or automated?
Buyer power How powerful are the buyers? How many are
there? Can the buyers get costs down? Do they
have the power to dictate terms?
PORTER’S ASSESSMENT QUESTIONS
FORCES

Threat of new What’s the threat of new businesses starting in this

entry sector? How easy is it to start up in this business?
What are the rules and regulations? What finance
would be needed to start up? Are there barriers to
entry which give you greater power?

Supplier power Examine how many suppliers are in the market? Are
there a few who control prices? Or many so prices
are lower? Do your suppliers hold the power? How
easy is it to switch, what’s the cost?
HOW TO STRUCTURE AND
MANAGE IMPLEMENTATION
OF PLANS?
SOSTAC®
 Suggested by PR Smith
 SOSTAC® stands for Situation, Objectives and Strategy,
Tactics, Action and Contro
ELEMENT MEANING ACTIVITIES

1. ‘where are Performing a marketplace analysis

we now?’
Situation •Reviewing micro-environment including
Analysis customers, competitors and intermediaries
forming marketplace.
•Reviewing macro environment – PESTLE
2. ‘where do we Objectives can be divided into broad vision and
want to be?’
Objectives goals for a marketing strategy, with more
specific SMART objectives for growth in sales,
profit and increasing customer touchpoint
interactions to support this. Specific KPIs can be
defined to review effectiveness at the control
stage.
3. Strategy ‘how do we Taking decisions about segmentation, targeting
get there?’
and proposition development.
ELEMENTS MEANING ACTION

4. Tactics the specific details of specific details of the marketing

the strategy. mix, customer relationship
management and marketing
communications channels.
5. Actions refers to plans and list all the activities, resources and
tasks to implement budgets and should be presented
the strategy and on a timeline or in Gantt chart
tactics. format.
6. Control looks at keeping Control is a regular review process
plans on track of dashboards containing KPIs
against target. defined at the objective setting
stage to check the strategy is on
track to meet objectives.
WHAT YOU NEED TO DO
GIVEN THE SITUATION
IN THE MARKETPLACE?
SWOT ANALYSIS
 A SWOT summarises the internal strategic strengths and
weaknesses of a marketing or business strategy and the
external strategic opportunities and threats that are
available to all competitors in a market.
SWOT ELEMENT BUSINESS ELEMENT
STRENGTH/WEAKNESS Existing brand
Existing customer base
Existing distribution
Technology skills
Channel support
THREAT Customer choice
New entrants
New competitive products
Channel conflicts
OPPORTUNITIES Cross selling
New markets
New services
Alliances/co-branding
SWOT AND MARKETING
PLANNING
SWOT ANALYSIS STRATEGY EXPLANATION
SITUATION
SO SITUATION ATTACKING Leverage strength to
STRATEGY maximise
opportunities
WO SITUATION BUILD STRENGTHS Counter weaknesses
FOR ATTACKING through exploiting
STRATEGY opportunities
ST SITUATION DEFENSIVE Leverage strengths
STRATEGY to minimise threats
WT SITUATION BUILD STRENGTHS Counter weaknesses
FOR DEFENSIVE and threats
SITUATION
HOW TO REVIEW THE
BROADER FORCES,
SOMETIMES KNOWN AS THE
‘MACRO-ENVIRONMENT’,
THAT CAN SHAPE A
BUSINESS?
PESTLE ANALYSIS
 PESTLE stands for:
 Political
 Economic
 Sociological
 Technological
 Legal
 Environmental
INFORMATION NEEDED

Political Economic
 Why the political climate  Primary/secondary/
of a country may prevent tertiary target audiences
your brand’s success? and their individual
economic situations
 Competitor prices and
product/service offering
Sociological Technological
 The beliefs, customs, and  Whether new technology
standards held by makes elements of your
customers who may be marketing mix
of a different faith, race, redundant?
gender, and socio-  How you can make your
economic background to
your average customer user journeys easier
Legal Environmental
 International and local  Climate change
laws  Eco-friendly approach
 Copyright infringement
 Data protection
 Product placement and
promotional content
QUESTIONS,
COMMENTS,
CONCERNS?