Professional Documents
Culture Documents
ON
“STRATEGIC MARKETING”
SUBMITTED BY:
RISHAB GARG
This is to certify that I have completed this project titled “STRATEGIC MARKETING.” under
the guidance of Mr. Yashwant Kumar in the partial fulfillment for the award of degree of
Masters Of Business Administration at Bharati Vidyapeeth Deemed University School Of
Distance Education, Delhi. This is an original piece of work and I have not submitted it earlier
elsewhere.
RISHAB GARG
PRN NO. 1828100561
ACKNOWLEDGEMEN T
I am grateful to him to have spared his time and showing the patience to answer my queries. The
Kindness shown by him in spite of being so busy with his work is highly appreciated.
I would also like to thank all my fellow colleagues who supported me all the time. ThisEnsured
the prompt of this project.
(Rishab Garg)
These are all the essentials that go in a successful marketing strategy. To begin with, you need to
be crystal clear on your business objectives, and these should be communicated to all relevant
departments. A good marketing strategy is not one where you invest heavily in technology and
multimedia (though these are essential components of marketing). Rather, marketing is all
about reaching goals.
If the objective is to persuade the client to give you his email address and he doesn’t, then the
marketing has failed¸ no matter how expensive or creative it is. This is not to say that marketing
isn’t creative and innovative, but what’s the point of being creative if you fail to stick to your
goals?
Your goal can be to create a buzz about your product or service (simply letting people know that
you are also there in the market), to use this buzz to create sales, or to prompt customers to
become evangelists. Of course, no one is stopping your from targeting all three of these goals at
once, the best way to tackle marketing is to pursue one, or at most two, marketing goals at a
time.
Another thing that you need to remember that marketing has drastically changed in the digital
age. Creating advertising campaigns is not enough. Nowadays, your promotion will most likely
garner a Google search for your business. Unless you can leverage analytics, SEO, mobile
optimization, podcasts, video content, multi-device support, and other related digital apparatus,
you will find hard to stay ahead of competition.
LIST OF TABLES
LIST OF GRAPHS
GRAPH NUMBER PAGE NUMBER
1 21
2 22
3 23
4 24
5 25
TABLE OF CONTENT
Chapter-1 1-18
INTRODUCTION
Chapter-2
RESEARCH METHODOLOGY
19-20
Chapter-3
CONCLUSION 26-27
Chapter-5
RECOMMENDATIONS 28-29
Chapter-6
ANNEXURE
33- 35
CHAPTER 1
INTRODUCTION
Academics continue to debate the precise meaning of marketing strategy, therefore multiple
definitions exist. The following quotes help crystallize the nuances of (modern) marketing
strategy:
"The sole purpose of marketing is to sell more to more people, more often and at higher
prices." (Sergio Zyman, marketing executive and former Coca-Cola and JC Penney
marketer)
"Marketing is no longer about the stuff that you make, but about the stories you tell."
(Seth Godin, former business executive, and entrepreneur)
"The aim of marketing is to know and understand the customer so well the product or
service fits him and sells itself." (Peter Drucker, credited as founding modern
management)
“Marketing’s job is never done. It’s about perpetual motion. We must continue to
innovate every day.” (former vice chair and chief marketing officer, GE)
"Take two ideas and put them together to make one new idea. After all, what is a Snuggie
but the mutation of a blanket and a robe?" (Jim Kukral, speaker and author of
"Attention!")
Whether it's a print ad design, mass customization, or a social media campaign, a marketing asset
can be judged based on how effectively it communicates a company's core value
proposition. Market research can be helpful in charting the efficacy of a given campaign and can
help identify untapped audiences, in order to achieve bottom-line goals and increase sales.
Most businesses are faced with a conundrum. It's a Catch-22. There's a clear need for increased
visibility to drastically improve sales. But in order to get more visibility, businesses have to
spend more money. When that well runs dry, what are you supposed to do?
There is no obvious and clear answer to that question that covers all situations. But there are
things that can be done today, right now, even on a shoestring budget, to reach more customers
without breaking the bank. However, it all boils down to time. If you lack the money, you sure
better have the time to put in the sweat equity.
Either way you slice it, as long as the fundamentals of a sound business are there and you're
working tirelessly to build an authentic relationship with the consumer by sincerely trying to add
value, then there are 10 go-to strategies you can use to market any business online.
You can't ignore social media. That's where all the so-called magic is happening. Some
businesses have been built solely on the backs of social media. It can be intimidating at first.
Sure. But as you build momentum, you'll find posting on social media to get easier and easier
over time.
Of course, you could also hire a social media manager if you have money to burn. But if you
don't, just be yourself. Be authentic. Post your thoughts. Post your products. Post anything that
you find relevant and useful that would help your audience either learn more about you and your
business, or about the industry that you're in.
Use direct messages on platforms like Instagram and even Snapchat or Twitter to reach out to
other successful businesses or even to communicate with potential customers who might be
looking for your products and services. This is very powerful marketing.
One of the most effective ways to get the word out on your business is to create video tutorials.
Teach people something useful. Walk them through it. Hold their hands. Step-by-step tutorials
are all the rage. The better you are at this, and the more value you provide, the quicker you can
boost your visibility, and ultimately, your sales.
Today, YouTube is the second largest search engine in the world behind Google. Whenever
someone wants to learn something visually, they head there. You've likely done it yourself
countless times. So just ask yourself what you could teach in your business that would help
consumers solve some pain point? What got you into business in the first place?
The hardest part? Hearing your own voice playing back and even seeing yourself. Now, you
don't have to appear visually on camera, but you'll likely need to be heard. You get used to it
over time. But you can't ignore the visibility and reach of YouTube so get out there and start
making authentic and useful videos today, right now.
Sure, you could start a blog. If you don't have a blog for your business, then you need to start one
immediately. But you don't just have to blog on your own blog. Most people find blogging
mundane because they lack the visibility. The truth is that your blog is going to be like a barren
desert unless you know what you're doing.
But this isn't just about posting your ideas on your own blog. You should start authority
blogging. Use platforms like Medium to post content. Answer questions on Quora and Reddit.
Or get out there onto LinkedIn's publishing platform. These are all authority domains that anyone
can post on, which have massive audiences, giving you instant and immediate reach right now.
When you do blog, ensure that you blog effectively. Don't post thin content. Think about adding
value. Worried about revealing all your business secrets? Don't be. Give away the farm. Give
people so much value that you instantly become an authority in their eyes. This is one of the
most powerful strategies you can use to market any business.
This is an area of marketing that I'm incredibly passionate about. But it's also an area that many
people are deathly frightened by. Yes, SEO can be frightening. But it can also be powerful. And
when you learn to leverage it and you learn SEO the right way, the sky truly is the limit.
There are companies out there who teach you how to use shady PBNs and other link schemes to
"trick" Google. It might get short-term results, but in the long term, you'll land in hot water. You
can't take shortcuts with SEO. Just like in business, you have to put in the work and the time if
you want to see the results.
Some tips for doing this the right way? Don't spam keywords. Hands down. This is one of the
biggest mistakes most people make. Create your content for humans while also paying homage
to search engines. But more importantly, ensure that whatever it is that you're conveying is
insightful, engaging, unique and adds a tremendous amount of value.
5. Leverage influencers.
Want to get the word out there and boost your visibility on social media without taking years to
build the audience? Then you should certainly leverage influencers. But the key is to find the
right influencer. You don't have to go with influencers with millions of followers. You could opt
for micro-influencers with tens of thousands or even a hundred thousand followers.
The trick? Find the right influencer in your niche so that you're targeting the right audience. It's
not just about spreading your message. It's about spreading your message to the right consumer
base. If you can do that properly, then you can likely reach a sizable audience for not much
money invested when you think about the potential profit it can return.
If your sales systems and products are in place, then this makes sense. If you have an offer that's
clearly converting, and it's simply about more visibility, then this is likely the right marketing
strategy for you right now. Assess the situation and reach out to influencers and gauge their
pricing. Do small tests and see what works, then scale.
So much effectiveness in marketing really does boil down to creating a great lead magnet. I've
found that the right lead magnet presented to the right audience can have explosive results. The
best way to do this is if you can identify the right pain points and present a solution in your lead
magnet, then you're well on your way.
What problem are consumers facing in your niche? What made you get into business in the first
place? Ask yourself these questions before building out your lead magnet. The better you
identify the problem or pain points at the outset, the better you'll be at actually addressing that
with a solution in your lead magnet.
What type of lead magnet should you build? That could either be an ebook, a cheat sheet, a
checklist, a video and others. Of course, it's not just about the lead magnet. You have to have a
squeeze page with sizzling sales copy to get people to drop into your funnel. But it all starts with
a great lead magnet. The better it is, the more effective you'll be at reaching your audience.
One of the most powerful methods you can use to market just about anything these days are
Facebook ads. With Facebook, you can reach a very specific audience and you can do it very
easily. You can target by interest, age, relationships status, geographic location, and so much
much more.
But the trick here to getting great results isn't just about click-traffic. You have to focus on
conversions and re-targeting through pixels. If you don't know how to install the Facebook Pixel
on your site, then you absolutely must learn how to do this right now. Even if you're not running
Facebook ads, you can build your audience with a pixel.
Pixels track everyone who comes to your site, and you can build custom audiences around them.
For example, if you post content about how to learn to drive a semi-truck, and you track visitors
with pixels, you can then market truck driving certification to people who have already shown an
interest in that already because they visited that specific page. And your conversions will
skyrocket.
Do you have a video on your LinkedIn profile? Did you know that you can easily add one? Why
not take the time to introduce yourself and your business. Link that to your profile description.
This is an easy way to passively market your business, and when it's done right, it can lead to
shocking results.
If you have lots of connections on LinkedIn and you're not really posting on there, start
immediately. You can reach a large audience, especially when your posts go viral. This is a great
place to convey the entrepreneurial journey. Talk about your challenges and tell stories. The
more effective your stories, the larger your potential reach when you go viral.
You can also reach out to other businesses and collaborate with like-minded entrepreneurs on
LinkedIn. It's a great go-to resource for all things business and too many people overlook this.
Most people don't understand the power of affiliate marketing. Affiliates can provide massive
fuel for growth. But approaching the right partners isn't always that easy. You have to have good
conversion if you want the bigger affiliate to take you seriously.
I've found that navigating the affiliate minefield can be tricky. It takes persistence and it takes
true grit to make it through. Most of us get discouraged after a few setbacks, but you can't allow
emotions to get in the way when it comes to affiliate. Build an affiliate program and start
reaching out to potential affiliate who can assist you.
There are loads of websites you can use as well such as E. Brian Ross's JVZoo, or Tim and
Eileen Barber's ClickBank and Commission Junction to get the word out.
Part of any good sales funnel is going to be an email marketing sequence. These are the
automated messages that go out to users once they subscribe to your list. Use your email
sequence to build a relationship with the subscriber. Be authentic and transparent. And convey
your journey.
Use the email responses and clicks to segment your list. For example, if someone clicks on a
specific link, they've clearly shown an interest in something. Tag that subscriber to market to
them later. If someone buys, tag them as a buyer. Identifying your buyers and the interests of
your subscribers is huge for segmenting.
Cause Marketing
Finding a causes both your customers and your company cares about can create magic for your
business. This requires internal knowledge about what your organisation cares about and who
they want to help in the world. A good example of this is Toms Shoes. Instead of doing the
traditional “buy one get one free” promotion, Toms built a strong customer following and
reputation for giving back by giving away a free pair of shoes to someone in need for every shoe
purchase made by their customers.
Relationship Marketing
Many companies focus on building relationships with their customers instead of always
exclusive trying to sell them something (transactional marketing). Customers who love your
brand more will also spend more money with your brand. Many traditional retailers have found
this to be true. Walgreens has seen that customers who buy from all of their purchasing channels
(store, web, mobile, etc) buy up to six times more than the average customer that only buys in
their store.
Transactional Marketing
Scarcity Marketing
In some markets it’s important to control how much product is available at one time. In many
cases this is done because of the difficulty of acquiring raw materials or higher quality of the
product. A company may choose to make their products accessible to only a few customers.
Rolls-Royce’s release of their Chinese edition car called Phantom sold quickly. While the cost of
the car was higher than most cars the scarcity drove the desire and the price.
Word of Mouth Marketing
CTA Marketing refers to methods of converting web traffic into leads or sales on websites using
text, graphics, or other elements of web design. Conversion strategies help improve the
percentage of online visitors who become customers or who join
the mailing list.
Viral Marketing
Cult Brand marketers are constantly creating new business ideas that keep their products in the
heart and minds of the global consumer. Each time a new product is created, customers have to
be given a reason to dream about their future purchase. Sometimes marketers of Cult Brands hit
on something so great that people can’t help but share with others. Getting your customers
talking about your products and services is very important to growing awareness for your
business.
Diversity Marketing
Develop a customized marketing plan by analyzing different customer segments based on
cultural differences including tastes, expectations, beliefs, world views, and specific needs.
Undercover Marketing
Sometimes not telling everyone everything can become a great source of buzz. Think of a movie
trailer that got you very excited to go see the movie. While not showing all the aspects of the
movie, the advertiser can create enough intrigue to drive viewers to want to see more.
Mass Marketing
Major corporations need to drive large numbers of purchasing of their products in order to
survive and grow. While mass marketing may seem like a shotgun approach to marketing this is
far from the truth. Big businesses spend big money in understanding big data–thats a lot of bigs!)
This gives them an insight to where to place media for their potential national customers who
buy their products and services. Walmart is an example of an effective mass market retailer. As
To identify the factors which affects improvement and development in the market .
Marketing Strategies.
Marketing Strategies study can find out the needs and requirements of the customer.
The study will help the society to fulfill their requirements within a given period of time.
LIMITATIONS OF PROJECT
While taking the time to develop a marketing strategy can be key to propel a company's growth
over a period of time, there are disadvantages of implementing a marketing strategy. For one, it
can be challenging to generate momentum. Though you may have an innovative idea and a
capable team to execute, there's no guarantee of success.
Cost
Executing successful marketing strategies often takes time, money and resources and for a
small company especially, that can be frustrating.
In addition, creating a marketing strategic plan can also identify your weaknesses as a
company and as a business owner. This can be challenging and could derail the company's
vision. It can also lead to faulty marketing decisions if data isn't analyzed properly, and creates
unrealistic financial projections if the information isn't interpreted correctly.
Whether you choose to develop a marketing strategy or not, go into the decision with your eyes
open. While creating a marketing strategy for your company can provide you with a variety of
critical and insightful information, it's only helpful if your analysis is done properly and
thoroughly. When you're just starting out, watching your company grow organically and
making decisions based on what you learn can be just as beneficial. The choice is yours.
LITERATURE REVIEW
Marketing strategy is an important and crucial constituent for the global market. Marketing
strategies can vary from country to country, brand to brand and organization to organization. In
order to achieve a satisfactory and adequate marketing strategy which has a positive outcome on
global and overall firm success, the marketing department within a company should bear in mind
all the different marketing mix strategies that can influence the comprehensive result and the
cumulative firm success. When launching a product into foreign markets companies can use a
conventional marketing mix or adapt the existing marketing mix, to satisfy the country they are
carrying out their business activities in. the link between standardization/adaptation and company
performance is complicated and possibly influenced by other factors (Shilke, Reiman, Thomas,
2009, Solberg, Durrieu, 2008). It should be emphasized that the influence of
standardization/adaptation decisions of international marketing strategy on company performance
is named also as one of the most topical research objects of international business (Griffith,
Cavusgil, Xu, 2008). Therefore inconsistent results of empirical research works and limited
research contexts confirm that the link between standardization/adaption decisions of international
marketing strategy and company performance are a topical object of scientific research (Ryans,
Griffith, White, 2003, Theodosiou, Leonidou, 2003). International marketing solutions become
particularly relevant for enterprises that operate in a global business environment and that look for
survival or business development opportunities. Latterly more attention is given to the link
between international marketing strategy and company performance in scientific literature on the
subject of international marketing (Samiee, Roth, 1992; Cavusgil, Zou, 1994; O’Donnell, Jeong,
2000; Katsikeas, Samiee & Theodosiou, 2006, Solberg, Durrieu, 2008; Shilke, Reiman, Thomas,
2009). Company performance is one of the most important aspects when assessing the suitability
of certain strategies (Jain, 1989). However, despite the importance of international marketing
strategy for company performance, the number of scientific research works that analyse the
mentioned link is limited, and results of the research works are contradictory (Katsikeas, Samiee
& Theodosiou, 2006.). By conducting etailed literature review we will explore the concept of
marketing strategy discussing its value, consequently creating foundation for a conceptual model
and empirical study.
CHAPTER- 2
Research Methodology
RESEARCH OBJECTIVE
1. To study the new strategies for the development of the Market.
2. To study the advertising effectiveness towards the people to be fulfilled.
3. To analyze the awareness of society regarding .
4. To help each and every individual by giving them better environment to live .
Research design
The Research available is descriptive so as to describe how Strategic Marketing works towards
Secondary(Internet,Catalogues,Broache
rs.)
CHAPTER – 3
TOTAL 60 60
10% public says profitability in business objectives for the next two years , 15% public says
productivity in business objectives for the next two years, 20% public says customer service
in business objectives for the next two years, 15% public says growth in business objectives
35
30
25
20 PERCENTAGE
15
10
0
DIRECT METHOD INDIRECT METHOD
35% public says NGO work for human rights through direct method and rest 25% says
NGO work for human rights through indirect method.
FREQUENCY PERCENTAGE
URBAN 40 40
RURAL 10 10
BOTH 10 10
TOTAL 60 60
35
30
25
20 PERCENTAGE
15
10
0
URBAN RURAL BOTH
40% public says geographical scope of NGO are more in urban areas,10% public says
geographical scope of NGO are more in rural areas and rest 10% public says geographical
scope of NGO are more in both the areas.
TOTAL 60 60
The same information is presented in the form of diagrammatically as follows:
35
30
25
20
15 PERCENTAGE
10
0
PERCENTAGE
PURCHASED
DENOTED
RENTED
IN HOME
35% of public says NGO premise are purchased, 10% of of public says NGO premise are
denoted, 5% of public says NGO premise are rented, 10% of public says NGO premise are
in home.
35% of the public says that NGO use regular publication and rest 25% of the public says that
NGO use special publication .
CHAPTER – 4
CONCLUSIONS
CONCLUSION
The primary objective of this study was to examine the theoretical concepts of marketing and
how they can be applied to ECIL with respect to Product, Price, Promotion and channel
management. The research study at hand researched and developed thetheoretical marketing
concept which is imbibed to each chapter starting from Marketing Strategies to the Product,
Pricing Strategy to After Sales Service Strategy chapter., ‘MARKETING STRATEGIES ON
PRODUCT’, marketing mix tools have been discussed which is considered a blend of product,
place, promotion and pricing mix and it enables to satisfy mutual exchanges with a target market.
Product is considered as main element of the marketing mix, Price is understood through the
value of the product which is paid by the buyer to purchase the product. Place or distribution
strategy of marketing mix is concerned to make products accessible to customers at favorable
time and place. The last element of marketing mix, promotion strategy is focused to various
activities like publicity, public relations, sales promotion. After from 4Ps, the approach of
Product Life Cycle (PLC) and Ansoff Matrix has been discussed. In PLC, four stages of products
have been described like Introduction stage, Growth stage, Maturity stage and Decline stage.
Ansoff matrix discusses four marketing strategies; product development, market development,
market penetration and diversification. The pricing strategy has provided approaches of pricing
strategies like high and low price strategy, adjustable strategy. Adjustable strategy is comprised
with price discrimination strategy, price skimming strategy, discount strategy, penetration
pricing strategy. Price discrimination strategy is focused on customers’ different levels of needs
and purchasing ability. Discount strategy throws light on discount sale which is meant through a
set of items for a limited period. Price skimming strategy is understood through a high price
initially but price lowers down with the time. Penetration pricing strategy is referred as the initial
price is lower and as the time goes on, cost reduction and discouragement of competitors’ entry
have also initiated.
CHAPTER – 5
RECOMMENDATIONS
RECOMMENDATIONS
First , recommendation is that the people should be aware about their society and help
those institutes which are working for the welfare of those people who don’t have any
home , food and clothing etc.
Second , recommendations is that people should try to help those institutes which are
working for the welfare of the society.
Third , recommendations is Freeing Up Space for those who don’t have any home or
shelter to live .
Fifth , recommendation is try to help each and every individual whether its poor or
anybody else equal importance should be given all those who are suffering from any
problems or issues.
Sixth , recommendation is government should check whether the society needs are
fulfilling or not or also organizations should help these institutes so that they can make a
better environment to live within the society.
CHAPTER - 6
LIMITATION OF THE STUDY
Not single work is exception to the limitations every work has got its own limitations, so due to
time constraint, my study confines only to India and it is not possible to make extensive study. It
BIBILIOGRAPHY
REFERENCE BOOKS:-
WEBSITES:-
https://www.dioceseny.org/mission-and-outreach/social-concerns/
ANNEXURE
Questionnaire
Dear Sir/Madam,
Name: _______________________________________________________
Address: _______________________________________________________
Gender: Male [ ] Female [ ]
Answer 3.)
Urban
Rural
Both