1. The role of IMC in
Marketing Process
Chapter 2: Summary
Group : TheBestIIMS
Abhijeet Mishra 2011PGP001
Debasish Brahma 2011PGP008
Kanmingham Phungshok 2011PGP020
Pujarini Ghosh 2011PGP032
Shashank Singh 2011PGP040
Sourojit Ghose 2011PGP046
2. Chapter Objectives
To understand the marketing process and the role of advertising and
promotion in an organization’s integrated marketing program.
To know the various decision areas under each element of the
marketing mix and how they influence and interact with advertising
and promotional strategy.
To understand the concept of target marketing in an integrated
marketing communications program.
To recognize the role of market segmentation and its use in an
integrated marketing communications program.
To understand the use of positioning and repositioning strategies.
4. 1.Marketing strategy and
analysis
Opportunity Analysis:
A careful analysis of the marketplace
should lead to alternative market
opportunities or areas where the
company feels there are favourable
demand trends, where customer needs
and/or wants are not being satisfied and
where it could compete effectively.
Market opportunities are usually
identified by examining demand trends
in various market segments. Example: Porsche which is a
luxury sports car maker
entering new segment - SUV
6. Marketing strategy and analysis (contd.)
Competitive analysis:
In developing the firms marketing strategies and plans for its products
and services, the manager must carefully analyse the competition to be
faced in the marketplace
This may range from direct brand competition (which can also include
its own brands) to more indirect forms of competition, such as product
substitutes
At a more general level, marketers must recognize they are competing
for the consumers discretionary income, so they must understand the
various ways potential customers choose to spend their money
An important aspect of marketing strategy development is the search
for a competitive advantages something special a firm does or has that
gives it an edge over competitors
9. Target marketing process
Identifying market:
Target market identification isolates consumers with similar
lifestyles, needs, and the like, and increases our knowledge
of their specific requirements.
The more marketers can establish this common ground with
consumers, the more effective they will be in addressing
these requirements in their communications programs and
informing and/or persuading potential consumers that the
product or service offering will meet their needs.
10. Target marketing process
Market Segmentation
Dividing up a market into distinct groups that have common needs and will respond
similarly to a marketing. The Process Involves following steps:
Finding ways to group consumers according to their needs
Finding ways to group the marketing actions—usually the products offered available
to the organization.
Developing a market-product grid to relate the market segments to the firm’s
products or actions.
Selecting the target segments toward which the firm directs its marketing actions.
Taking marketing actions to reach target segments.
Bases for Segmentation
Geographic Segmentation
Demographic Segmentation
Psychographic Segmentation
Behaviouristic Segmentation
Benefit Segmentation
11. Target marketing process
Selecting a target market:
The outcome of the segmentation analysis will reveal
the market opportunities available.
The next phase in the target marketing process
involves two steps:
determining how many segments to enter and
determining which segments offer the most potential
12. Target marketing process
How many segment to enter
3 market coverage alternatives are available:
Undifferentiated marketing involves ignoring
segment differences and offering just one product or
service to the entire market.
Differentiated marketing involves marketing in a
number of segments, developing separate marketing
strategies for each.
Concentrated marketing is used when the firm selects
one segment and attempts to capture a large share of
this market.
13. Target marketing process
Determining Which Segments Offer Maximum
Potential :
The second step in selecting a market involves determining
the most attractive segment. The firm must examine the
sales potential of the segment, the opportunities for
growth, the competition, and its own ability to compete.
Then it must decide whether it can market to this group.
14. Target marketing process
Market positioning:
Approaches to Positioning :
Positioning by Product Attributes and Benefits
Positioning by Price/Quality
Positioning by Use or Application
Positioning by Product Class Determining the Positioning Strategy
Positioning by Product User Identifying competitors
Positioning by Competitor Consumers’ perceptions of competitors
Positioning by Cultural Symbols Determining competitors’ positions
Repositioning Analysing the consumers’ preferences
Making the positioning decision
Monitoring the position.
15. Developing the marketing
planning program
1. Product decisions:
Product planning involves decisions not only about the item itself, such as design and
quality, but also about aspects such as service and warranties as well as brand name and
package design.
Consumers look beyond the reality of the product and its ingredients. The product’s
quality, branding, packaging, and even the company standing behind it all contribute to
consumers’ perceptions.
Branding: One important role of advertising in respect to branding strategies
is creating and maintaining brand equity, which can be thought of as an
intangible asset of added value or goodwill that results from the favourable
image, impressions of differentiation and/or the strength of consumer
attachment to a company name, brand name, or trademark.
Packaging: Packaging is another aspect of product strategy that has become
increasingly important. The package is often the consumer’s first exposure to
the product, so it must make a favourable first impression.
16. Developing the marketing
planning program
2. Price Decisions:
The price variable of the marketing mix refers to what the
consumer must give up in exchange for a product or service,
Marketing managers must be concerned with establishing a price
level, developing pricing policies and monitoring consumers’ and
competitors’ reactions to price in the marketplace. Factors a firm
must consider in determining price levels include:
Costs
Demand
Competition
Perceived value
17. Developing the marketing
planning program
3. Distribution Channel Decisions:
Marketing channels refers to the set of interdependent
organizations involved in the process of making a
product or service available to customers. This can be
of two types:
Direct channel
Indirect channel
18. Developing promotional
strategy-push/pull?
Promotional push strategy: The goal of this
strategy is to push the product through the channels of
distribution by aggressively selling and promoting the
item to the resellers or trade.
Promotional pull strategy: The goal of a pull
strategy is to create demand among consumers and
encourage them to request the product from the retailer.
Seeing the consumer demand, retailers will order the
product from wholesalers (if they are used), which in turn
will request it from the manufacturer.
