Marketing Campaign analysis
txs584
Lecture2strategies.pdf
Lecture 2 Strategic Marketing Planning
1
Strategic Marketing Plan
External data – market research (1) PEST and STEEPLE
PEST STEEPLE
Political and Legal Social, cultural and demographic
Economic Technological
Social, cultural and demographic Economic and demographic
Technological and environmental Environmental
Political
Legal
Ethical
3
• Beware of strategic wear-out • Complacency is greatest threats to survival
The Marketing Environment
Consider China stock crisis over financial sector Macro Environmental themes
Political TCF, regulatory regimes, Volker Government stock intervention
Economic China depreciate RMB triggered financial crisis
Social Changing demographics, New noveau China boom, social networking, health concerns, food & fuel prices
Technology Google, facebook, TWITTER era
Environmental Climate, pollution, natural disasters
Meso-environmental themes Industry response to macro trends
Competitors Negotiate
Develop applepay together
Micro-environmental themes (Internal) Tactics and strategies
Political Calm, long-term, diverse
Social Good interest %, service, good returns, self- make money, applepay, taobao,
Environment Estatements, health insurances
5
Consider US-China Trade war Macro Environmental themes
Political
Economic
Social
Technology
Environmental
Meso-environmental themes Industry response to macro trends
Competitors
Micro-environmental themes (Internal) Tactics and strategies
Political / ECONOMY
Social
Environment
6
Market Sensing • You probably do it without knowing
– Eg feel the pinch effect, back to basics
– Difficulties with sensing not your home market
– Industry level sensing
• Check with frontline staff who faces clients everyday (Jury forecasts, Expert forecasts, Delphi Oracle)
• Futurology
COM5407 Sep 2012 7
Very likely Likely to happen
Less Likely
Very Significant Plan Contingency Plan
Scenario Plan
Significant Plan Monitor Reject
Less significant Monitor Reject Reject
Marketing Myopia • “Customers are buying MY product”
• “Customers are buying a solution to their problem” • Define your mission statement – clarify the market you are
in – eg: We are in the business to help expats 8
Helicopter Vision
• Porter’s five forces – please think of one example
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Threat of New Entrants
Buyer Power Nature of
Competitive Activity
Threat of Substitute
product
Supplier’s Power
FLIM VS DIGITAL FILM ELECTRIC CAR VS OIL FUELED CAR
AMAZON VS TAOBAO DD VS UBER AIR BNB VS MEI TUAN VS CTRIP
HUA WEI AND IPHONE $200 $60 FIT BIT XIAO MI APPLE WATCH $3000
GOVERNMENT BUYER VS INDIVIDUAL BUYER COMPANY VS SMALL ASSOCIATIONS
Competitive positions
• Offensive or Defensive? – Depends on your position! – Think of an example…
• Attacker – Frontal, Flanking, Encirclement, Bypass, Guerrilla
• Leaders – Defend
• Followers – Position, Mobile, Pre-emptive, Flank, Counter-offensive, Strategic
withdrawal
• Nicher – Vertical level specialist, Specific customer, Geographic,
product/Service, Channel
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Define markets and segments • Example – SME segmentation
– Industry
– Type of corporation (e.g. Public or private sector)
– Size of corporation
– Geographic location
– Product usage
Segmentation method
Measurable Relevant Accessible & Feasible
Industry
Type of Co
Size of Co
Geographic location
Product Usage
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Why Segmentation
• Below table summarizes the key benefits of segmenting our customers
Benefits
Better matching of
customer needs
• Create separate offers for each segment
• Provide customers with a better solution
Enhanced profits for
business
Customers are different in how sensitive they are to price. By
segmenting markets, we can raise average prices and subsequently
enhance profits
Better opportunities for
growth
Encourage customers to "trade-up" after being introduced to a
particular product with an introductory, lower-priced product
Retain more
customers
Retain customers who might switch to competing products and
pricing
Target marketing
communications
Deliver marketing message to a relevant customer audience
Define 4Ps
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Develop Most Attractive Products to Sell
Professional OD
Cash Management Product
Express Trade
Credit Card
Manufacturing / Trading
NPO Wholesale / Retail
Medical / Health Care / Professional Investment Insurance
Packaged Loan
Customer driven
Preferential rates
Customer driven
Preferential rates
Easy to manage the funds Merchant services
Fast & Convenience Flexibility of managing your finances
Product-market strategy
Existing products New products
Existing markets
Market penetration strategy Product development strategy
New markets
Market development strategy Diversification strategy
15
Deliver service value proposition
16
Service Formulation
Service Delivery
Research & Development
After-sales services
Monitor marketing
communica -tions
programmes
Create value proposition
Define markets
Design & implement marketing
communications programmes
Deliver service value proposition
17
Service Formulation
Service Delivery
Research & Development
After-sales services
Monitor marketing
communica -tions
programmes
Create value proposition
Define markets
Design & implement marketing
communications programmes
Deliver service value proposition
18
Service Formulation
Service Delivery
Research & Development
After-sales services
Monitor marketing
communica -tions
programmes
Create value proposition
Define markets
Design & implement marketing
communications programmes
Deliver service value proposition
19
Service Formulation
Service Delivery
Research & Development
After-sales services
Monitor marketing
communica -tions
programmes
Create value proposition
Define markets
Design & implement marketing
communications programmes
Deliver service value proposition
20
Service Formulation
Service Delivery
Research & Development
After-sales services
Monitor marketing
communica -tions
programmes
Create value proposition
Define markets
Design & implement marketing
communications programmes
