DEVELOPING MARKETING
STRATEGIES AND PLANS
LECTURE 2
LEARNING OBJECTIVES
What is Value?
The Value Delivery Process?
What is the Value Chain?
What are Core Competencies?
Corporate Vision and Mission
Product-Oriented vs. Market-Oriented Definitions
SWOT Analysis
PORTER’S Generic Strategies
Crafting a Marketing Plan
VALUE
Value refers to the Benefits that one derives vis-à-vis the costs
incurred.
Value= Benefit/Cost OR Value= Benefit-Cost
Value is different from Price.
VALUE DELIVERY
• Amazon Prime and Netflix
• Swiggy and Zomato
• Maruti Suzuki and TATA Motors
• Whatsapp and Facebook Messenger
• Blinkit and Zepto
The Value Delivery Process
Assessing market opportunities (Environment screening; insights about customer needs, wants and motives)
Choosing the Value (Segmentation, Targeting and Positioning; Branding)
Designing Value (Decisions involving product/service strategy)
Delivering Value (Focuses on distribution and access issues)
Communicating Value (Decision about marketing communication; choice of channels)
Grow and sustain the Value (Expansion; Holistic marketing)
The Value
Chain
• Value Chain is a tool for
identifying ways to create
more customer value.
• According to this model,
every firm is a synthesis of
activities performed to
design, produce, market,
deliver and support its
products.
CORE COMPETENCY
• Concept introduced by C. K. Prahalad and Gary Hamel.
• Core competencies are the combination of resources and skills that distinguish a
firm in the market place.
• A Core Competency has three characteristics:
• It is a source of competitive advantage
• It has applications in a wide variety of markets
• It is difficult for competitors to imitate
CORE COMPETENCY
• TCS
• Maruti Suzuki
• Reliance Jio
• BITS Pilani
• AIIMS
• Google
• Paytm
CORE COMPETENCY
Corporate Vision
• A Vision statement describes the long-term results of a company’s efforts.
• A company Vision statement reveals, at the highest levels, what an organization most hopes to be and achieve
in the long term.
• Research shows that employees who find their company's vision meaningful have engagement levels of 68%,
which is 18 points above average.
• Few examples: “to make the best products on earth, and to leave the world better than we found it”
(Apple);
“provide an important service to the world-instantly delivering relevant information on
virtually any topic” (Google)
Corporate Mission
• A mission statement is used by a company to explain, in simple and concise terms, its purpose(s) for
being.
• Ask the following questions to define a Mission statement (Ref: Peter Drucker):
1. What is our business?
2. Who is the customer?
3. What is of value to the customer?
4. What will our business be?
5. What should our business be?
Examples:
“Spread ideas” (TED)
“To connect the world's professionals to make them more productive and successful” (LinkedIn)
Product Oriented vs Market-Oriented
Definitions
Product Oriented vs Market-Oriented
Definitions
SWOT Analysis
SWOT Analysis
SWOT Analysis
PORTER’S Generic Strategies
Crafting a Marketing Plan
• Suggestive Components of a Marketing Plan:
1. Executive Summary
2. Situation Analysis (Info about target markets, market need, trends, SWOT Analysis,
Competition, Product/Service Offering, Key success factors etc.)
3. Marketing Strategy (Mission, Marketing and Financial objectives, segmentation, targeting,
positioning, Marketing programs etc.)
4. Financials
5. Controls
…………………………………………..(this is just a suggestive list; many more components are
involved in a marketing plan; samples will be shown)……………………………………………..
THANK YOU
