The process of developing and maintaining a strategic fit between the organization`s goals and capabilities and its changing marketing opportunities.

Defining the company mission Setting company objectives and goals Designing the business portfolio Planning, marketing and other functional strategies Corporate level Business unit, Market and product level

 Planning is the process of anticipating future events and determining strategies to achieve organizational objectives in the future.  Marketing planning involves designing activities relating to marketing objectives and the changing marketing environment.  Marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager

 A strategic marketing plan is the document that details the company`s objectives, situation analysis, marketing strategy and the elements of company`s marketing mix.

Business mission statement Situation or SWOT analysis Objectives Marketing strategy Target market strategy Marketing mix- P`s Implementation evaluation control

 A statement of the firm business based on careful analysis of benefits sought by present and potential customer and an analysis of existing and anticipating environment.  Marketing Myopia  Strategic business unit

 S- Strength  W- Weakness  O- Opportunities  T- Threat

it is a set of unique features of a company and its products that are perceived by target market as significant and superior to the competition.  Cost competitive advantage:  Experience curve  Efficient labour  No frills goods and services  Government subsidies  Product design  Reengineering  Product innovation  New method of service delivery

 Niche competitive Advantage: seeks to target and effectively serve a single segment of the market. Eg. Indian coffee house  Building sustainable competitive advantage: that can`t be copied by competitor. Eg. Honda Activa

 It is a statement of what is to be accomplished through marketing activities.  Essentials:  Realistic  Measurable  Time specific  Compared to bench mark

 Strategic alternatives: 1. Ansoff`s Strategic Opportunity Matrix 2. Boston consulting group`s matrix 3. GE Matrix

Present ProductNew Product Present MarketMarket Penetration: a marketing strategy that tries to increase market share among existing customer. Eg. Amul selling milk to existing customer base Product Development: creation of new product for present market. Eg. Amul developed flavored yogurt New MarketMarket development: attracting new customer for existing product. Eg.amul enters market such as UAE or Austra Diversification: increasing sales by introducing new product in new market. Eg. Amul enters pizza and quick service restaurant

HighLow HighStar: 1.is fast growing market leaders. 2.Profits are high 3.Lots of cash to finance rapid growth 4.Efforts on better distribution, more promotion, product efficiency Eg. ipad -Apple Question Mark: 1.Shows rapid growth 2.Less profit margins 3.Low market share in large growing industry. 4.Efforts:- invest heavily, dropping of SBU Eg. Videocon Mobile LowCash cows: 1.SBU generates more cash than it needs to maintain its market share. 2.Low growth market 3.Product has a dominant share in the market Eg. Maggi Noodles. Dog: 1.Low growth rate and small market share. 2.Eventually leave the market place 3.Eg. Maruti Baleno & versa. Vanilla coke Market share dominance INDUSTRYGROWTHINDUSTRYGROWTH

15 HighLow High Low Competitive strength Industry Attractiveness Medium INVEST PROTECT INVESTPROTECTHARVEST PROTECTHARVESTDIVEST

Grow-strong business units in attractive industries -average business units in attractive industries -strong units in average industries Hold-average business units in average industries -strong units in weak industries -weak units in attractive industries Harvest-weak units in unattractive industries -average units in unattractive industries -weak units in average industries

 Target market: A market segment is a group of individuals or organizations that share one or more characteristics.  Market opportunity analysis (MOA): the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in the market segment, it may target

 It refers to unique blend of product, place (distribution), promotion and pricing strategies designed to produce mutually satisfying exchanges with a target market.  Product mix  Price mix  Place mix  Promotion mix

 Implementation  Evaluation and control  Marketing audit