Marketing Training

SOMA Technology, Inc

Devang Africawala
 4 Ps of Marketing

• Product
• Price
• Place
• Promotion
 Market
• What is our market?
• Who is our customer?
• Who is user of our product?
• End user of our product?
• Needs of the market?
• Needs of the customer?
• Needs of the user?
• Needs of the end user?
 Market
• Trends in the market?
• Size of the market?
• Future growth of the market?
• What affects the market?
• How can we tap potential of the market?
• Market share of different players?
• Market segmentation.
 Product
• What is our product?
• Why we have so many products?
• USP
 Place
• What is our area of dominance?
• What is our area of influence?
• What is our reach?
• What is our penetration?
• Where we should have more focus?
• Easiest place to sell?
 Promotion
• What do we need to promote?
• What is our brand?
• Which is our main product?
• How do we promote what we need to
promote?
• What are our most suited promotional
tactics?
 Price
• Product Cost
• Sales cost
• Marketing cost
• Warranty cost
• Service cost
• Price as strategy
 Competition
• Who is our competition?
• Who is our biggest competition?
• Do we understand our competitors?
• How can we challenge our competition?
• Our tactics and strategy to handle
competition?
 Technology
• Past, present and future!
• What is our technology and how are we
placed in terms of its evolution?
• What are the available technologies?
 After Sales Service
• How good are we?
• Can this be our USP?
• Is it our strength or weakness?
• How can we best utilize it to increase market
share?
• What needs to be done now onwards?
 USP
• What is our USP?
• Do we have USP for each product and our
organization?
SWOT Analysis
 Marketing Strategy

• Marketing Strategy is a process that can allow

an organization to concentrate its limited
resources on the greatest opportunities to
increase sales and achieve a sustainable
competitive advantage
 Marketing Strategy

• A strategy consists of a well thought out series

of tactics to make a marketing plan more
effective. Marketing strategies serve as the
fundamental underpinning of marketing plans
designed to fill market needs and reach
marketing objectives. Plans and objectives are
generally tested for measurable results.
 Types of strategies

• Strategies based on market dominance - In this scheme, firms are

classified based on their market share or dominance of an industry.
Typically there are three types of market dominance strategies:
• Leader
• Challenger
• Follower
• Porter generic strategies - strategy on the dimensions of strategic scope
and strategic strength. Strategic scope refers to the market penetration
while strategic strength refers to the firm’s sustainable competitive
advantage.
• Cost leadership
• Product differentiation
• Market segmentation
 Types of strategies
• Innovation strategies - This deals with the firm's rate of the new product
development and business model innovation. It asks whether the
company is on the cutting edge of technology and business innovation.
There are three types:
• Pioneers
• Close followers
• Late followers
• Growth strategies - In this scheme we ask the question, “How should the
firm grow?”. There are a number of different ways of answering that
question, but the most common gives four answers:
• Horizontal integration
• Vertical integration
• Diversification
• Intensification
 Types of strategies
– A more detailed scheme uses the categories:
– Prospector
– Analyzer
– Defender
– Reactor

• Marketing warfare strategies - This scheme

draws parallels between marketing strategies
and military strategies
 3C's Model
• The 3C's Model is a strategic look at the factors
needed for success. It was developed by Kenichi
Ohmae, a business and corporate strategist.
• The 3C’s model points out that a strategist should
focus on three key factors for success. In the
construction of a business strategy, three main
players must be taken into account:
• A. The Corporation
• B. The Customer
• C. The Competitors
 Hito-Kane-Mono
• A favorite phrase of Japanese business planners is hito-kane-
mono, standing for people, money and things. They believe
that streamlined corporate management is achieved when
these three critical resources are in balance without surplus
or waste. For example: Cash over and beyond what
competent people can intelligently expend is wasted. Of the
three critical resources, funds should be allocated last. The
corporation should firstly allocate management talent, based
on the available mono (things): plant, machinery, technology,
process know-how and functional strength. Once these hito
(people) have developed creative and imaginative ideas to
capture the business’s upward potential, the kane (money)
should be given to the specific ideas and programs generated
by the individual managers.
 Power of Image
• When product performance, pricing, service
and mode of distribution are very difficult to
distinguish, image may be the only source of
positive differentiation.
Thank You !