Strategic Planning

 MARKET SEGMENTING
 TARGETING
 POSITIONING

 STRATEGIC MARKETING PROCESS

SEGMENTING
A process

 Distinctcustomer subsets of people with

similar needs and characteristics

 Respond in similar ways to a Particular

product offering and strategic marketing
program
Bases for Segmenting Consumer
Markets
Geographic
Nations, states,
regions or cities

Demographic
Age, gender,
family size and life cycle,
or income

Psychographic
Social class, lifestyle,
or personality

Behavioral
Occasions, benefits,
uses, or responses
Requirements for Effective
Segmentation
Measurable

Accessible

Substantial

Differential

Actionable
TARGETING
 Effort on the part of the firms to identify
 Smaller
 Better defined target groups
 With Specific needs
Market Targeting

Segment Size and Growth

Segment Structural Attractiveness

Company Objectives and Resources

POSITIONING
 Theperceived fit between a particular
product and the needs of the target market

A relative concept used along with

competitive offerings and consumer needs.
POSITIONING FOR COMPETITIVE
ADVANTAGE: STRATEGIES

Product Product
Class Attributes

Away from G
Benefits
Competitors H
C Offered
A

D
E
Against a B
F
Usage
Competitor Occasions

Users
STP PROCESS OF MARKETING
S e g m e n tin g

D iv id in g t h e m a r k e t o f a p r o d u c t in to s o m e s u c h g r o u p s
w h ic h h a v e s o m e c o m m o n c h a r a c t e r is t ic s

T a r g e t in g

S e le c t in g o n e o r m o r e s u c h g r o u p s w h ic h t h e c o m p a n y
c a n s e rv e th e b e s t

P o s it io n in g

A p p r o a c h in g th e ta r g e te d g r o u p b y w a y o f b u s in e s s
c o m m u n ic a tio n s
 STRATEGIC
MARKETING PROCESS
The strategic marketing concept
suggests that there should be a
most appropriate match between
a firm’s products and the targeted
segments which should further be
adequately served.
STRATEGY
 Fundamental pattern of present and
planned objectives
 Resource deployments

 Interactions of an organization with

markets, competition and other
environmental factors
Marketing Strategy
 Marketing strategy is the complete and
unbeatable plan, designed especially for
attaining the marketing objectives of the
firm.

 The marketing objectives indicate what

the firm wants to achieve, the marketing
strategy provides the design for
achieving them.
Paradigm of Strategic
Marketing Process
CUSTOMERS
 Relationship Marketing

 Solution selling

 Business process integration

COMPETITION
1. Developing appropriate marketing
mix

3. A careful analysis of each stage of

the product life stage and taking
appropriate decisions for each
situation
COMPETITION….
1. Carving a market niche whereas the company
feels competitively and strategically stronger.

3. By appropriately segmenting the market and

selecting and serving the most appropriate
segment.

5. Deciding for acquisition, merger, diversification or

collaborations in order to make the company
stronger and more competitive in the market.
COMPETENCIES
1. It is a source of competitive advantage
in that it makes a significant
contribution to perceived customer
benefits.
2. It has applications in a wide variety of
markets.
3. It is difficult for competitors to imitate.
METHODS TO DEVELOP
STRONG COMPETENCIES

1. Striking strategic alliances or

joint ventures wherever
necessary.
2. Developing of value chains.
3. Creating market niches etc.
METHODS TO DEVELOP
STRONG COMPETENCIES

1. Becoming a global player in size.

2. Acquiring the latest technology
3. Investing liberally in research
and developmental activities.
4. Developing best brands