Marketing Management - Diagnostic Tool Kit
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Transcript of Marketing Management - Diagnostic Tool Kit
An Investigative, Diagnostic and Descriptive Toolkit for Profiling
Marketing Practices in
Pakistan
Exercise Objectives
• To determine and document the actual Marketing Practices being used by
Companies in Pakistan
• To determine the extent to which contemporary marketing theory is being used in the
Real world of the Pakistani marketplace
• To be able to conduct gap analysis and identify improvement opportunities which
would be of practical use to companies in the real world
• To provide thorough grounding in the principles of marketing management and their
real world implementation in the marketplace
• To enable students to act as a conduit for diffusion of innovation in the theory
and practice of marketing, thereby improving the marketing environment of Pakistan
• To give a competitive edge to IBA students by equipping them with a highly practical
Perspective on the science and art of marketing
Marketing Functions
Marketing Practices
in Pakistan
Sales &Sales Management
Product & BrandManagement
Marketing Communications
Marketing Research& Analysis
DistributionManagement
Retailing
Customer Services& CRM
FMCGConsumer DurablesCommoditiesServicesNon Profit
Market LeaderMarket FollowerMarket NicherCounterfeiters
GovernmentalNGOs
The Marketing Concept
Balloting will be conducted For assigning category
Marketing Research and Analysis
Determining requirements of information for taking annual, semi-annual and daily Marketing decisions
Sources of information
Any technology used to collect information
Methodology of information collection
Information dissemination within the organization
Utilization of information
Marketing Research and Analysis
How does the company scan the overall marketing environment
Impact of STEP analysis on the company’s business
How does the company scan the competitive environment
How are market segments identified
How are market segments identified for targeting
How is the market potential estimated and what are the identifiable ‘Factors’ for
Determining potential
What are the market drivers
Is any level of market modeling or simulation used
Do you see any potential for market modeling and simulation, elaboration required
What are the forecasting techniques being used
Product and Brand Management
What is the product development process. Each stage needs to be touched upon
Examples of the respective companies core, augmented and potential products
Examples of product lines with width and length
Examples of line stretching (Upwards, Downwards, Sideways, Pruning)
How does the company determine a suitable positioning strategy
Suggest various perceptual maps
How does this positioning strategy translate into tangible actions for the marketing Team
Product and Brand Management
How does the firm determine costs (CGS, Storage and Transportation, Selling andMarketing expenses, capital expenses etc.)
Hedging against foreign exchange fluctuations
Apart from product cost, what other environment related costs are loaded to the Product, especially the regulatory environment (Sales Tax, Excise etc.)
How does the firm determine prices
Examples of price lists; Trade , Wholesale and Retail
What are the pricing objectives of various products and product lines
How does the company measure and keep abreast of Gross Margins earned
Product and Brand Management
Examples of Pricing Strategies
What is the competitive pricing structure of the market under consideration
Examples of value propositions
Define the perceived value of the brand/brands under consideration
Define branding strategy of the firm
What does the brand/brands signify
How does the firm determine the brand persona, brand association, brand image, other branding elements and the branding value chain
How does the firm measure brand equity
Product and Brand Management
How does the firm measure the health of the brand on a continuous basis
What are corrective actions taken if brand erosion is detected or anticipated
Level of awareness about IPR and its manifestation in product and brand strategies
Marketing CommunicationsElements of the promotional mix used by the firm
Detailed synopsis of each element including:Planned activities in each elementObjectives of each activityImplementation of each activityMeasurement of results of each activityBudgeting for each activityRelative percentage of each activity in the overall promotional mix
Overall marketing budget as a percentage of sales
How does the form chose activities within the promotional mix
To what extent does the firm employ BTL techniques and why
How is the marketing communication function managed, which departments within the organization take part, how are they connected and how are commitments fulfilled (Interface among Marketing, Sales, Finance, Procurement etc.)
Marketing CommunicationsElements of the promotional mix used by the firm
Detailed synopsis of each element including:Planned activities in each elementObjectives of each activityImplementation of each activityMeasurement of results of each activityBudgeting for each activityRelative percentage of each activity in the overall promotional mix
Overall marketing budget as a percentage of sales
How does the form chose activities within the promotional mix
To what extent does the firm employ BTL techniques and why
How is the marketing communication function managed, which departments within the organization take part, how are they connected and how are commitments fulfilled (Interface among Marketing, Sales, Finance, Procurement etc.)
How does the company determine effectiveness of the overall marketing communications effort
Marketing CommunicationsIs there any direct contact between the firm and end customers
Is any direct marketing conducted, scope and details required
Is any tele marketing conducted, scope and details required
Scope of marketing communications through the internet
Existence of viral marketing, social media based marketing
Sales and Sales ManagementHow is the sales force organized
How are territories determined
How is the size of the sales force determined
How is the sales force selected and recruited
How are sales performance standards set
How is sales performance measured and monitored
What are the sales reporting systems in place
How is the sales force controlled
What is the motivational system in place and how is it implemented
How is sales force retention managed
What are the training and development measures for the sales force
Sales and Sales Management
Is sales force automation implemented and to what degree
How does the firm manage recoveries and through what systems
Is the sales force responsible for recoveries or not
What are the corrective actions taken if sales targets are not being met
Distribution Management
What is the distribution channel structure in place
How is distribution network designed
How are distributors selected and recruited
How are distributor incentives and performance rewards designed
What value does the firm add to the distributor operations and how
How are horizontal and vertical conflicts resolved
How does the firm keep abreast of customer satisfaction with distributor performance
How does the firm manage a multi-channel structure
How are promotional activities, especially BTL executed via distributors
What is the role of distributors in preventing parallel and grey markets
Retailing
What are the functions performed by the firms retailers
Describe the structure of the retail market for the firms products/services (CompanyOwned outlets, franchises, supermarkets etc.) Quantify the same.
How is merchandising organized and implemented
Role of in-store promotions and the firm-retailer relationship for the same
Use of technology in retailing
Reporting structure in place
Logistics system in place between firm, distributors and retailers
Organization for retailing in rural markets and BOP markets
Customer Services and CRM
Do the mission and vision statements embrace services in addition to products
Does the company possess a customer services philosophy
Is there a separate customer services department or function. Details required
What systems are in place for tracking customer satisfaction
What systems are in place for monitoring quality of services
What systems are in place for addressing customer complaints
Is differentiation in marketing enabled through service differentiation
Does the company have a customer retention program in place
What systems are in place for managing customer relationships
Use of technology and e-CRM in the firm
Customer Services and CRM
Are there any key accounts for the firm
How are key accounts managed
Does the company utilize any quantifiable measures of customer satisfaction
Resources
Marketing Management, Strategies and Programs, Guiltinan
Marketing Management, A South Asian Perspective, 13th Edition, Kotler et al.
Marketing: A Case Study Approach, Stokes
Market Based Management, Strategies for Growing Customer Value and Profitability, Roger J. Best
WARC
Compendium of Required Readings
Website of the Marketing Science Institute
Marketing Review Published by MAP
Marketing Gurus