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10/11/2010 1

Strategic Marketing

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Strategic Marketing

Introduction

Formulating Marketing Strategy 

Challenges & OpportunitiesRedefining Marketing

Market, Metamarket, Metamediaries

Exchange

Product Utility 

Marketing Activities and Decisions

Challenges of Marketing Strategy 

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Strategic Marketing

The markets today are cluttered with products

that offer almost similar solutions to the extent

that it is impossible for the customer to establish

the superiority of one product over the other.Differentiating is not easy for the manufacturers.

To do so, firms must give consumers a

compelling reason to their products over 

competing products and ultimately it is all about

innovation. This innovation can be achieved

through a well crafted marketing strategy taking

into account all the aspects of offering a product

to the market.

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Strategic Marketing

Environment 

Scanning

Organizational 

Mission

Organizational 

Vision

Price

Distribution

Communication

Product 

ProductionStrategy 

Financial 

Strategy 

Strategic Marketing

Strategy 

HR Strategy 

Other Functional 

Strategies

Formulating Strategic Marketing Strategy

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Strategic Marketing

Challenges and Opportunities

Power Shift to Customers Massive increase in Product Selection

Audience and Media Fragmentation

Changing Value Propositions

Shifting Demand Patterns

New Sources of Competitive Advantage

Privacy, Security and Ethical Concerns

Unclear Legal Jurisdiction

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Strategic Marketing

Redefining Marketing«.

Marketing is the process of planning andexecuting the conception, pricing, promotion anddistribution of ideas, goods and services tocreate exchanges that satisfy the individual andorganizational objectives (AMA, 1985 ± 2005)

Marketing is an organizational function and a set

of of processes for creating, communicating anddelivering value to customers and for managingcustomer relationships in ways that benefit theorganisation and its stakeholders. (AMA 2005onwards)

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Strategic Marketing

Defining Market, Metamarket and Metamediaries

Collection of Buyers and Sellers. Over the years, the

participants have not changes, however, their geographical locations and they way they interacted with

each other have dramatically changed with the

availability of better and faster means of electronic

communication and transaction facilities.

Metamarket is a cluster of goods and services that

center around a specific consumption activity. A metamediary provides a single access point where

buyers can locate many different sellers in the

metamarket.

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Strategic Marketing

Exchange

The process of obtaining something of value from

someone by offering something in return. For exchange to occur, five conditions should be met:

There must be at least two parties to exchange

Each party has something of value to the other party

Each party must be capable of communicationand delivery

Each party must be free to accept or reject theexchange

Each party believes that it is desirable to

exchange with the other party.

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Strategic Marketing

ProductSomething that can be acquired via exchange tosatisfy a need or a want. Such as

Goods Services

Ideas

Information

Digital Products

People

Places

Experiences and Events

Real or Financial Property

Organizations

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Strategic Marketing

Utility  Ability of a product to satisfy a customer¶s

desires. Customers usually seek out exchangeswith marketers who offer products that are high in

one or more of these five types of utility.

Form Utility

Time Utility

Place Utility

Possession Utility

Psychological Utility

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Strategic Marketing

Marketing Activities

&

Decisions

Social 

Responsibility 

& Ethics

Research

&

 Analysis

Developing

Competitive

 Advantage

Marketing

Strategy 

Decisions

Implementation

&

Control 

Customer 

Relationships

Strategic 

Planning

Product 

Decisions

STP 

Decisions

Pricing

Decisions

Promotion

Decisions

Distribution

Decisions

Major Marketing Activities & Decisions

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Strategic Marketing

Challenges of Marketing Strategy

Changing customers, competitors and

the marketing organization itself. People driven, meant for people

Dynamic Competition

Technology and communication

Innovative distribution channels

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