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for BSNL internal circulation only E5-E5 CSSS/PA/PS Competitive Marketing Strategies
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E5-E5 CSSS/PA/PS
Competitive Marketing Strategies
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AGENDA
Marketing fundamentals
Competitive Marketing Strategies
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SERVICE MARKETING MIX
Product
Price
Promotion
Place
People
Process
Physical Evidence
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MARKETING STRATEGY
Marketing strategy is a method of focusing an organization's
energies and resources on a course of action which can lead to
increased sales and dominance of a targeted market niche.
A marketing strategy combines product development,
promotion, distribution, pricing, relationship management and
other elements; identifies the firm's marketing goals, and
explains how they will be achieved, ideally within a stated
timeframe.
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A typical product life cycle curve
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DIFFERENT TYPES OF MARKETING
STRATEGIES
Based upon market dominance
Leader
Challenger
Follower
Nicher
Based upon Strategic Strength
Market Segmentation
Product Differentiation
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STP MODEL
Segmentation
Targeting
Positioning
SEGMENTATION
Market segmentation is the process in
marketing of grouping a market (i.e. customers)
into smaller subgroups. This is not something that
is arbitrarily imposed on society: it is derived from
the recognition that the total market is often made
up of submarkets (called 'segments').
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DIMENSIONS OF SEGMENTATION
Identify and name the broad market
Identify and make an inventory of potential
customers' needs
Formulate narrower markets
Identify the determining dimensions
Name possible segment markets
Evaluate the behaviour of market segments
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© for BSNL internal circulation only
POSITIONING
positioning is how the target market defines the
product in relation to competitors. Making first
contact
A good position is:
1.What makes the product unique
2.This is considered a benefit by the target
market
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POSITIONING STRATEGIES
Product Attributes: What are the specific products attributes?
Benefits: What are the benefits to the customers?
Usage Occasions: When / how can the product be used?
Users: Identify a class of users.
Against a Competitor: Positioned directly against a competitor.
Away from a Competitor: Positioned away from competitor.
Product Classes: Compared to different classes of products.
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TARGETING
Target Marketing involves breaking a market into
segments and then concentrating your marketing
efforts on one or a few key segments.
Geographic segmentation
Demographic segmentation
Psychographic segmentation
Behaviouristic segmentation
PORTERS FIVE FORCE MODEL
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FIVE GENERIC COMPETITIVE
STRATEGIES
Low cost provider
Broad Differentiation
Best Cost Provider
Focused Low cost provider
Focused Differentiation
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© for BSNL internal circulation only
SUM UP
Planning and directing marketing mix in such a
way to gain competitive market advantage is the
aim of marketing strategy
Segmentation, Positioning, and targeting are the
three main components of marketing strategy
Understanding the product, market, and customer
behaviour is key to successful marketing strategy.
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