1 market evvironment,planning segmentation, targeting and positioning 105 mkt-2 nmims october...
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Market Evvironment,planningSegmentation, targeting and positioning
105 MKT-2 NMIMS OCTOBER 25,2009
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The market Environment
Objectivesa) Undersatnd the behavior of key
environmental forcesb) Techniques available for
envirommental scan
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Why do we need it ?
History has not been kind to people who have ignored this aspect.
Automobile sector Watch sector Detergent segment Television industry
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Enironmental analysis
Socio –Economic Competition Technology Government policy Suppliers Complementors
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Sociological forces
Demographic Changes Age composition Sex structure and role of women New urban women, men and child Occupation and literacy profile Growth in affluency
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Sociological forces
Geographical location changes Changes in the value system Economic factors
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Competition
Direct competition Firms not in industry but likely to
overcome entry barrier Firms which derive synergy from
being in the industry Firms with forward and backward
integration
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Technology
Design /technical upgradation Packaging Transport Information technology
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Government Policies
Regulation on advertising Telecom regulatory authority Security exchange board Insurance regulatory authority
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Suppliers
Raw material suppliers Energy suppliers Labour and capital suppliers Situation of a buyer will affect the
strategy
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Techniques for scan
Primary research Undertake research directlySecondary data Radio and television report Cutomers Published data & reports Internet Employees, consultants etc
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Marketing Planning
Objectives Correctly identifying marketing
opportunities How to identify marketing
opportunities How to design a marketing plan
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Market Opportunity analysis
Size of the market How well the market is served Marketing programme required to
satisfy the market wants Marketing mix required to succeed Core competencies required
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Size of the market
Demand Analysis Market segment analysis Industry analysis Competition analysis Trade analysis
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Basic structure of a marketing plan
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[Product Name]Marketing Plan (SMP)
[name]
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Market Summary(SMP)
Market Past, Present, & Future Review changes in market share,
leadership, players, market shifts, costs, pricing, competition
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Product Definition(SMP)
Describe product/service being marketed
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Competition(SMP)
The competitive landscape Provide an overview of product
competitors, their strengths and weaknesses
Position each competitor’s product against new product
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Positioning(SMP)
Positioning of product or service Statement that distinctly defines the
product in its market and against its competition over time
Consumer promise Statement summarizing the benefit of
the product or service to the consumer
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Communication Strategies(SMP)
Messaging by audience Target consumer demographics
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Packaging & Fulfillment(SMP)
Product packaging Discuss form-factor, pricing, look,
strategy Discuss fulfillment issues for items not
shipped directly with product COGs
Summarize Cost of Goods and high-level Bill of Materials
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Launch Strategies(SMP)
Launch plan if product is being announced
Promotion budget Supply back up material with detailed
budget information for review
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Public Relations (SMP)
Strategy & execution PR strategies PR plan highlights Have backup PR plan including editorial
calendars, speaking engagements, conference schedules, etc.
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Advertising(SMP)
Strategy & execution Overview of strategy Overview of media & timing Overview of ad spending
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Other Promotion(SMP)
Direct marketing Overview of strategy, vehicles & timing Overview of response targets, goals &
budget Third-party marketing
Co-marketing arrangements with other companies
Marketing programs Other promotional programs
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Pricing(SMP)
Pricing Summarize specific pricing or pricing
strategies Compare to similar products
Policies Summarize policy relevant to
understanding key pricing issues
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Distribution(SMP)
Distribution strategy Channels of distribution
Summarize channels of distribution Distribution by channel
Show plan of what percent share of distribution will be contributed by each channel -- a pie chart might be helpful
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International(SMP)
International distribution Address distribution strategies Discuss issues specific to international
distribution International pricing strategy Localization issues
Highlight requirements for local product variations
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Schedule (SMP)
18-month schedule highlights Timing
Isolate timing dependencies critical to success
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Market Segmentation & Targeting
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Segmentation- Objectives
Need for segmentation Process of segmenting the market The bases of segmenting consumer
and industrial market The critera for choosing a segment The targeting strategy
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Bases for segmenting the market
Customer based segmentation Product based segmentation Competition based segmentation
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Customer based segmentation
Geographic location of customers Psychographic Variables Buyer readiness
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Geaographic location
Urban and rural Metros and non metros Region wise
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Demographic segmentation
Age Education Income Occupation Sex & family size Marital status
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Socio-economic groups
A1 & A2- (9.5 %)- graduates, white collar, professionals
B1 & B2 (17 %) – SSC, 40 % graduates, clerks, shopkeeper
C (19.5 %) – skilled workers, sales D (22,4%) – same as above, SSC E1 & E2 ( 31.6 %) –inskilled worker
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Psychographic variable
Life style related Titan, Credit card, famina Buyer readiness not aware aware but not interested ready to buy
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Product related segmentation
Product use situation (Zandu) Benefit segment(Titan) Consumption (tea, coffee, ) Decision criterion( price, quality,
service,technology)
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Copmpetition based segmentation
Hard core Loyals ( newspaper ) Soft core loyals (soaps, detergent) Switchers (cloths, mobiles)
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Sementing Industrial buyers
Size Geographical location End use Price ( sensitive, custom-made) Combination of above
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How to segment the market
Survey stage Analysis stage Profiling stage
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Targeting Strategies
Standardization (Coke, pepsi) Differentiation (airlines) Focus( cars, computers)
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Positioning The art of creating a distinct image
for a product in the minds of the consumer
Anything can be positioned – product,political party.church,ski resort
Product ATM-automated teller machine
Position ATM- anytime money
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Positioning Statements Broadcast yourself – You Tube The joy of Flying – Jet airways Fly the Good times – KingFisher
airlines A diamond is forever – De Beers Bond with the best – Reid & Tayler Born tough – Ceat Earth’s biggest book store - Amazon
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Positioning Statements…
We bring good things to life – GE Life is Good – LG Always low prices-always – Wal Mart Applying thought – Wipro Taste of India – Amul I’m loving it – Mc Donalds
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Repositioning Dettol Toilet soap- beauty to germ kill Lipton Yellow label Tea – Exotic &
foreign to exotic & Indian Visa card – Pay the way the world
does –world’s most preferred card-Visa power
Bournvita – Taste additive to milk- Extra nutrition,extra taste-nutrition mental stimulation
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Repositioning…
Burnol – Curing burns- 3-in-1(burns cuts,gashes)
Odomos – Indoor to indoor+ outdoor Titan – Elegance to gift Vicks cough drops – cough drops to
adult candy Complan – Food for sick- for family-
for growing children
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Brand Extension
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Need for brand extension
Energising a brand(ponds) Expandind a core promise to new
area(Godrej shaving cream) Blocking competition( surf to surf
ultra) Managing a dynamic environment
(colgate gel)
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Some Failures
Parle Frooti orange Palmolive regular soap Pond’s soap
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Category related extensions
Ariel to Ariel Super Soaker Cinthol to Cinthol Cologne fresh Colgate dental cream to colgate gel Nirma Powder to Nirma Detergent
cake
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Image related extension
Amrutanjan – cold rub to inhaler Amul – Milk to cheese spread Britannia – Biscuits to bread Eveready – dry cells to torches J &J – Baby soap to baby oil Maggie – Noddles to sauces Zodiac – Ties to shirts and belts
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Unrelated extensions Ceat Tyres to Financial services Enfield to TV Godrej & Tata HMT machine tools to watches and tractors Parrys – Ceramics,tea,chocolates T-series – cassettes to washing powder Wipro – Computers to Lighting
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Thank You