MGT-519 STRATEGIC MARKETING

AAMER SIDDIQI

LECTURE 01

INTRODUCTION

INTRODUCTION

• Business Graduate– MBA 2003, Specialization in Marketing and Management from

Foundation University, Islamabad– BBA – Honours 2002, Specialization in Marketing from

Foundation University, Islamabad– Awarded scholarships both MBA and BBA

• Working as Manager in B.L.Harbert International LLC Islamabad• Senior HR Officer in Pakistan International Airlines• Customer Services Officer in Albaraka Bank Ltd• Visiting Faculty

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COURSE REQUIREMENTS

• The students enrolling in this course should possess the basic knowledge of marketing

• As such they should have completed principles/fundamentals of marketing course

COURSE DESCRIPTION

• This course is basically designed to prepare the students to prepare a marketing strategy for a given product drawing from the knowledge that they have gained from the study of fundamentals of marketing.

• Analytical skills are developed first to analyze markets, competitors and macro environment.

• Then synthesis skills are sharpened to develop a marketing program i.e. product, price, promotion and channel distribution etc.

• Essentially this course enhances marketing management abilities and develop a managerial attitude in the students.

COURSE OBJECTIVES

• After studying this course the students should be able to:• Explain nature of strategic and tactical marketing planning. • Analyze the internal and external marketing environment and

assess strategic options in the light of environmental analysis. • Describe the mission, vision and objectives of the company and the

marketing department.• Analyze customers and competitors as input to the strategy. • Create marketing strategies pertaining to product, positioning,

diversification, differentiation, pricing, distribution and promotion • Devise an implementation plan including structure, people, feedback

and control.

COURSE CONTENTS

• Chapter 1: What is Marketing

• Chapter 2: What can be Marketed

• Chapter 3: Marketing’s role in the business

• Chapter 4: Segmentation, Targeting and Positioning

• Chapter 5: Branding

COURSE CONTENTS (CONT’D)

• Chapter 6: The Marketing Mix

• Chapter 7: Product Management

• Chapter 8: Integrated Marketing Communications

STRATEGIC MARKETING

WHAT IS MARKETING

MARKETING: -

“The social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”  — Philip Kotler

“The processes of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual organizational objectives”  — American Marketing Association 

• “The management process that identifies, anticipates and satisfies customer requirements profitably” – The Chartered Institute of Marketing

THE 3 LEVELS OF MARKETING

LEVEL 1. Marketing a way of doing business.

•Top level of Marketing

•Marketing as a business philosophy

•Marketing today is not a function; it is a way of doing business

•In essence it’s the process by which a company decides what it will sell, to whom, when & how and then does it!

LEVEL 2. Marketing as Strategy.

•Segmentation – Targeting – Positioning (STP)– Segmentation: Deciding which customers to target– Targeting: Which customers to target– Positioning: Deciding what messages you want the Target to

associate with the product•Branding: central aspect to brand – Name

– Image or perception. Link between attributes customers associate with a brand and how the brand owner wants the consumer to perceive the brand

– Effective brand names build a connection between the brand’s personality as it is perceived by the target audience and the actual product/service

LEVEL 3. MARKETING MIX – 4 PS.

– PRODUCT– PRICE– PLACE– PROMOTION

•Processes within a business that help create and deliver company’s products and services to the customer•Day to day operational running of marketing, control of the Marketing Mix•This level spans all aspects of a business and across all customer contact points

• Marketing an ongoing process in a “dynamic” environment.

• Market tends to change—what customers want today is not necessarily what they want tomorrow.

• This process involves both planning and implementing (executing) the plan.

• To summarise then we can see that a simple definition of marketing would be: -

“The right product, in the right place, at the right time, at the right price,” .

THE VALUE OF MARKETING -NEEDS, UTILITY, EXCHANGE RELATIONSHIPS & DEMAND

• Fundamental idea of marketing- Organisations survive and prosper through meeting the needs and wants of customers, commonly known as the MARKETING CONCEPT

– A philosophy and business orientation about matching a company's capabilities with customers’ wants.

– The matching process takes place in what is called MARKETING ENVIRONMENT

– Involves both strategic and tactical marketing within the organisation’s structure

– A truly marketing oriented business, structurally designed to facilitate the Marketing Concept as a philosophy and as a way of operating.

UNDERSTANDING NEEDS, WANTS & DEMAND

• Need: a basic requirement that an individual has to satisfy to continue to exist

Maslow’s Hierarchy of Needs

• 5 level Pyramid• Higher needs only come into focus when lower needs are met• Once individual moved to next level, needs in lower level no longer

prioritized. • If a lower set of needs are deficient; temporarily re-prioritize those

needs but will not permanently regress to the lower level• Humans have different needs based on demographics

THANKYOU!