Marketing: Strategy, Planning and other concepts

Marketing Strategy concepts, questions, projects. Strategic marketing is what is being carried out by a business that has clearly documented marketing strategy that is guiding all its marketing activity. It covers things like Mission, Vision and Values, Objectives, Target audience, Competitive Positioning. Strategic marketing helps an organisation differentiates itself from the competition so that it can provide better service and value to its customers. Marketing management is the process of planning and making strategies to promote a business.

What is Marketing?

Marketing is a tool that companies use to sell their products and services. It refers to the various techniques and strategies that companies use to make a product more appealing to a prospective buyer.

Over the years, these strategies have undergone changes, based on the change in the business environment, based on knowledge acquired about the consumer decision making process, and based on other factors/drivers such as technology, concern for the environment and so on.

Marketing is all about placing the right product in the right place, at the right time, and of course the right price. In order to achieve this, marketers use various tools and techniques, marketing mix being the most commonly used tool.

The marketing mix is commonly executed through the 4P’s of marketing (Price, Product, Promotion and Price), buy may include additional Ps such as packaging, positioning and people depending on what is being marketed. The point is that smart marketers adapt to changing business scenarios and come up with effective solutions to the problems they face.

So while business have been using traditional marketing techniques for a long time to sell their products, modern business scenarios are complex and fragmented, and marketers will need to use integrated marketing practices to provide a consistent and coherent message to the audience.

Marketing refers to the various activities that businesses undertake in order to promote its own brand name and its products by using various forms of communication with potential customers. Businesses spend significant amount of money on marketing and branding in order to improve their sales and form a good image in public, and the good thing is that these efforts also benefits the consumer as well as the society in several ways.

Marketing Strategy vs. Marketing Plan

Marketing Strategy is an explanation of the goals you need to achieve with your marketing efforts. Your marketing strategy is shaped by your business goals. It consists of the “what” has to be done.

Marketing plan is how you are going to achieve those marketing goals, a roadmap that will guide you from one point to another. It consists of the “how” has to be done.

Here’s an example:

Business Objective: To gain broader market adoption.
Marketing Strategy: Introduce into new market segments.
Marketing Plan: Develop a marketing campaign that reaches out, identifies with and focuses on that specific segment.

Academic Questions on Marketing, Strategy, Planning

Management (BBA / MBA) question / Case study on this topic:

Question: Identify TWO country markets that are culturally different. You are required to conduct an evaluation of the international marketing undertaken by this company in these two countries of your choice (include both macro and micro criteria ). You will be required to research and identify the marketing strategies made and competitive landscape in each country amongst others in your review. Through the use of theory you will be required to evaluate what the company has done internationally in terms of their market offering, for example, product, price, promotion, distribution and people and how it differs across the chosen international markets (two countries). The end product of this assignment is an evaluation of your assigned company in your chosen international markets. Your assignment should demonstrate how market offerings for the chosen company can differ based on the international market (country) they occupy and the competitor landscape they face.
Proposed Structure: Introduction. Identify TWO country markets (not their home country). A detailed summary of Macro and Micro analysis (SCLEPT, competitor and market analysis. Discuss the Orientation adopted by the organisation. Identify their targeting and positioning strategies in each of the countries. Critically analyse how they used the Marketing Mix to address the differences between country markets (Standardisation/Adaptation/ Glocalisation). Conclusion and presentation.

Q. As a newly appointed Product Manager by Balaji wafers, you are asked to develop New Product Planning for new flavor of potato wafer. How would you develop new product planning process?

Q. Health and Nutrition Start-Up, Habbit makes consumer debut with a range of innovative & delicious Products. Habbit Wise Creams are the lowest calorie ice creams in the world. Every serving has less than 50 calories, which is less than half an apple. Available in 6 gourmet flavours such as Blueberry Crumble, Salted Caramel, Lychee Blush, etc. Wise Creams contain zero added sugar and are keto + diabetic friendly. Prepare an appropriate Segmentation Strategy for the new launch. Considering that they have entered in consumer market for the first time, how should the brand be positioned in the market?

Q. Read the following Case & solve the questions given:

Mr. Ramesh of Unique Industries is contemplating to enter the men’s top end shirts category. The company already has a brand “CLINGERS” in the middle segment (Rs.350-700). The brand is very popular amongst the target audience. Having got the volumes, Mr. Ramesh now wants to play the value game and enter the top end (Rs700+) category. He knows there are some formidable brands like Farow etc. that will make life extremely difficult for Unique Industries. But there are certain advantages which Unique Industries enjoys. It has one of the best retail networks in the country. They have their own factory, which ensures regular quality supply. They are the pioneers of branded shirts in India.
Mr. Ramesh has decided to keep the brand name as “Clingers Gold”. He has decided to allocate Rs10 crores for sales promotion and advertising budget. Unique Industries is simultaneously entering the readymade trousers market and shoes market. Mr. Ramesh has decided to keep the same brand name “CLINGERS” to leverage the success of the brand name to the two new categories.

a. Do you think the brand name “Clingers Gold” is right for the top end segment? Justify your answer. (5 Marks)
b. Which factors you think needs to be studied before making such entry in the market?

Q. Case: M/s Tikhalal sells pickle and spices across the country and wants to enter into the international market. The company is known for their quality ingredients. The company sells the product at higher price but customers don’t hesitate to pay the price as the quality is premium. Their brands Mr. Tikha, Mr. Hara, Mr. Laal, which are various pickles and spices are a hit brand in the Indian Market. The company has decided to enter in US Market as it has a major market for Indian pickles and spices.

Q. Explain various Micro and Macro environment factors that the company should
analyze before entering into the international market. Explain the points with reason.

Q. The company is planning to take Mr. Tikhalal online in India. Explain various ways
to promote the brands of pickles and spice on Social Media Platforms.

Q. M/s Tikhalal is also planning to sell paapads with the brand name Mr. Crisp. The
company is planning to sell papads at a price higher than its competitors. The company
also plans to launch various variety of papads with different shapes and sizes.
a. How should company segment the consumer market for Paapads?
b. To introduce the product in the market what are the various sales promotion techniques
that should be used for the brand Mr. Crisp?

Q) The beginning of the video-on-demand (VOD) revolution in India started with Star Tv’s Hotstar, way back in 2015. It coincided with the time when India witnessed a huge rise in the number of smartphone users. In a country which was used to a one-TV household tradition, smartphones acted as additional screens for consumers to source entertainment from. In January 2016, Netflix, an international platform that offers a library of TV series, Bollywood flicks etc. made waves in India with its launch. It led to a series of debates on what is already on the Indian consumer’s palate on TV– family dramas, saas-bahu serials, cheesy love stories. The real debate was on whether Netflix India’s launch will mark the end of TV. Will the audience progress from the melodramatic saas-bahu sagas to Netflix for its sharp, realistic international content. Netflix opened the doors for alternate entertainment platforms. In the months that followed, mainstream Indian TV channels launched their own VOD platforms – Voot , Arre etc. And then came the giant Amazon with its Prime Videos spanning across International TV shows, films and new Bollywood releases. The most recent entry has been Balaji Telefilms VOD platform ALTBalaji. With the internet content users, number of smartphone users on the rise, the consumption of online video content has also been on the rise, quite naturally.

a. Conduct a SWOT Analysis of Netflix in India
b. Keeping in view the issues, challenges and competition, evaluate and discuss the strategic and tactical components of Netflix’s market planning and make suggestions

Q) Founded in 1971 in Seattle, Washington, USA, Starbucks is a well-known international brand with presence in more than 20,000 locations. It has been over 23 years since Jeff Bezos founded Amazon.com in Seattle, Washington, USA. Suppose, Amazon.com is planning to acquire Starbucks, and Jeff has hired you as an advisor. Should Amazon.com acquire Starbucks? Why?

Q) Suppose, you are working as a Brand Building and Brand Management Specialist and have been hired by a competitor of Mercedes, the popular car brand. Help your client by explaining the Marketing Strategy of Mercedes in India.

Q) Founded in 1976, Brompton (www.brompton.com) is a well-known brand in the international folding bicycle market. Madhav, a young Indian and a first generation entrepreneur, incorporated XYZ Pvt. Ltd. in the year 2018 with a vision to build the first Indian brand to feature among top 3 international folding bicycle brands by 2025. Madhav has hired you as a consultant.

a: Explain the various points that you would consider in order to assess the attractiveness of the market for XYZ
b: What will be your recommendations to Madhav regarding Marketing Strategy for XYZ?

Question: Developing a Marketing and branding strategy for launching a product into new market.

Title of the Project: Developing a Marketing and branding strategy for launching a product into new market.

Brief Description of the Project:

BobBuilder Properties is a real estate company developing approx. 22 mn sqft with landmark projects in 12 different cities across India. BobBuilder has the aspiration to move from 10 % to 20 % ROE and targets to develop 55 million sqft by 2020.

Mumbai although, already being identified as one of the growth regions, there are still many challenges faced such as land availability, price of land hitting everyone and increasing population density.

BobBuilder established in Mumbai, now has decided to venture into peripheral areas of Navi-Mumbai-Panvel, which is the new micro-market in focus. Considering such an entry in the competitive environment, we require to devise a completely new marketing and branding strategy.

The source of data will be primarily through surveys, questionnaires, analysis and secondarily through newspapers, magazines etc.

The proposed methodology to be adopted is the study of current marketing practices employed and to capture the lacuna, risks(if any ) for better sales in Navi Mumbai focused on Panvel.

Objective:
To formulate a marketing strategy using STP( Segmentation , Targeting & Positioning), Marketing mix, SWOT analysis and to build tie-ups company, brand and product to targeted customers.

To create brand awareness, positioning, and recall it through P-A-S-P model within an emerging market.

Forecasted Benefits:
1. New revenue streams
2. Emergence of further newer opportunities in the newer market.

Question: Case Study

You have been accepted onto a Future Leaders Development Programme (FLDP) within a large organisation. It is a yearlong programme and involves developing and presenting specific projects to other programme delegates; all the projects are viewed by the CEO. The delegates come from across the organisation and you are the sole representative from the Marketing Department.

This is an excellent opportunity for ambitious staff to make an impression on senior managers and leaders. In the past graduates from the programme have been promoted within the company. The introductory session of the programme is personally led and overseen by the CEO.

The company is currently successful but is going through a period of intense change. There are new competitors entering the market, whilst new technologies are changing both production capabilities and consumer preferences.

All the work from the FLDP should be retained in a personal file which will be reviewed at the end of the programme.

Task 1 – Understand the principles of strategic marketing.

Your first task of the programme is to prepare a presentation, with accompanying notes. The presentation will be viewed by the CEO, other senior managers and programme delegates. The content of the presentation and notes should:

• analyse the relationship between corporate strategy and marketing strategy.
• analyse the development of marketing strategies.
• explain, using examples, how different marketing strategies contribute to competitive advantage.
• evaluates the relationship between: strategic intent, strategic assessment, strategic choice and their impact on the formulation of marketing strategy.

Task 2 – Understand how to carry out strategic environmental analysis

The participants in the FLDP are taking part in a training day and each member of the programme has been given a task to complete. You must prepare a set of briefing notes for the other programme delegates.

The briefing notes should:

• evaluate different approaches to conducting an internal environmental analysis.
• evaluate different approaches to conducting an external environmental analysis.
• assess the integration of internal and external analyses.

Task 3 – Understand the role of customer behaviour in marketing strategies.

Your next task is to prepare a section of an information file to be used by future participants in the FLDP. You are responsible for the section on Strategic Marketing; the finished section will be reviewed by the CEO.

The information file should:

• analyse the role of marketing research process and its relationship to consumer behaviour
• explain the different types of consumers and their behaviour in B2B and B2C markets and factors underpinning customer loyalty.
• evaluate the role of relationship marketing in customer behaviour analysis.
• analyse the influences on and the psychology of consumer behaviour.

Task 4 – Understand how to develop an implementable strategic marketing plan.

This is a major element of the development programme. You are required to develop a realistic and workable strategic marketing plan for a given organisation. The choice of organisation is important to ensure successful completion of this task.

For the selected and named organisation you must:

• analyse the factors to be taken into account in the development of a marketing plan
• develop an implementable plan for your named organisation: you should select the most appropriate format for the plan
• design monitoring systems that are capable of identifying performance deviations from the plan’s original objectives
• anticipate the need for contingency plans.
• develop alternative marketing mix related action plans that address selected objectives and selected strategies.

Task 5 – Understand how to create a marketing strategy to meet business objectives

This is the final task of the development programme and on its completion your file will be ready to submit to your line manager. You must:

• evaluate the requirements of a marketing strategy
• explain the relationship between a marketing strategy and a corporate strategy
• explain how the marketing strategy should address competitive forces and their likely impact
• design a dissemination process to ensure internal stakeholders are informed and committed to the marketing strategy.
• create monitoring systems to ensure the successful implementation of a marketing strategy.
• construct a marketing strategy for a named organisation.

Demonstrate clear understanding of marketing and corporate strategy and include a detailed analysis of how they interrelate, examining points in turn.
Consider a range of marketing strategies and provide a clear explanation of how different approaches contribute to competitive advantage. (This should include examples of different forms of competitive advantage).
Identify and evaluate different approaches to conducting internal and external environmental analysis. Use examples to examine how internal and external environmental analyses can be integrated together.

Demonstrate understanding of different aspects of a market research process and how these relate to consumer behaviour. The learner must identify and explain different types of consumers plus the differences between B2C and B2B markets and show how consumer behaviour differs in the different markets. The file should specifically address the issue of customer loyalty in the different markets. The learner must explain the principles of relationship marketing and through the use of examples evaluate its impact on customer behaviour.

Analyse a range of marketing audit tools in detail. It should include an analysis of different aspects of strategy formulation. The monitoring systems presented by the learner must include different approaches to monitoring and identifying performance deviations. Show why and when contingency plans are required.

Provide an evaluation of the processes, stages and techniques required for a marketing strategy. Provide full explanation of how corporate strategy and marketing strategy relate to each other. The learner must show a good understanding of different competitive forces and show how the marketing strategy can deal with their potential impact.

The dissemination process must be clearly presented. It should demonstrate an awareness of the needs of internal stakeholders and the approaches to communicating and securing commitment from the internal stakeholders for the marketing strategy.

Academic Questions on Marketing/Business in a Global Context

Question: “Think Globally, Act Locally.” – Critically reflect on this statement.
Include the following:
What is a global marketing strategy? How is it different from an international marketing strategy?
What is glocalization? And what does it mean to pursue a glocal approach in global marketing?
Discuss the benefits of using a glocal approach in global marketing. Illustrate this with a company example.

Question: The business organisation you work for would like to see: a critical comparison of two companies in each of the mobile phone industry (four companies in total) in both countries between 2010 and 2019. This includes a comparison of their market share within each country and the potential reasons behind the different performances (from two of the PESTL aspects). You then need to compare the impact of the business environment on their performance between these two countries. Based on this, you will make recommendations with regard to whether or not that the client should expand in one, both or either of the two countries.

More Questions:

• How many companies should you include?
• Should they be the same companies in both countries?
• Which two companies should you choose?
• How many factors should you include?
• Should they be the same?
• How do you see these factors responded at the firm level?

What should you include?

Company level analysis

Select two companies which experienced very different (opposite) performance (data, graphs) in each country over the specified period. For example one company ‘s market share has gone up, the other has declined.

Explore potential causes of such different performance based on the PESTLE framework (two factors at the industrial or national level).

If it is economic factor, how have firms responded differently? Such as pricing, packaging or market positioning.

If it is technological factor, what have firms done which attributed to their performance? Such as the new feature of product for older or young people; use YouTube to advertising, etc.

Compare and contrast

The different results and causes within the same country; the differences between two