GENERAL MANAGEMENT

DEVELOPMENT PROGRAMMED

Strategic Marketing Module

2011

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 1. MARKETING DEFINED
 “The process of developing and
exchanging ideas, goods, and services
(products) that satisfy customers using the
principles of pricing, promotion, and
distribution.” (Bovee & Thill, 1992)
 “The process of identifying and

anticipating customer needs and satisfying

them at a profit.” (British Institute of
Marketing)
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WHAT ROLE DOES MARKETING PLAY?

 Facilitates transfer of value in terms of needs or

wants
 Promotes economic activity, growth of companies

(West vs Zim attitudes to marketing)

 Examples of Needs:

 Examples of Wants:

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MARKETING MANAGEMENT PHILOSOPHIES/
ORIENTATIONS

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PRODUCTION ORIENTATION

 Focuses on perfecting production techniques to

increase output:
- High demand versus low supply
- Typical post cold war era in Europe
- Typical of Zimbabwe 2007/2008

- “ all that is produced will be bought”

- Examples of production oriented companies:

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 SALES ORIENTATION

 Focuses on selling, promotion and

distribution of products.
- Market has excess supply vs demand
(2011?)
- Typical during economic recessions (2008/9)
- Fickle customers with wide choice
- Push marketing strategy required

- “creative effort required to achieve sales”

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 MARKETING ORIENTATION

 Focuses on customer needs and

wants via structured marketing
functions:
- Customer orientation
- Coordinated approach
- The most sustainable approach is the
marketing orientation philosophy
- Pull strategy used
- “customers determine profitability
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and long term organizational success”
see definition of marketing.
 2. THE MARKETING ENVIRONMENT

 All elements that affect the marketing function; PEST

P - Political
E - Economic
S - Social
T - Technological

Variation of the above is PECLST, where C-competition,

L-legal.
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 POLITICAL ENVIRONMENT

 Political direction – Inclusive government

 Laws and Regulations (advertising,

packaging, labeling, ownership)

 Relationship between Government and

Business.

 “Always think about political developments

that may affect your business- you cannot
wish them away”

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 ECONOMIC ENVIRONMENT

 Economic growth and decline (Business

cycle)
 Fiscal policy

 Monetary policy

 Inflation (Current rate?/ Targeted rate for

2011?)
 Employment levels (What is the rate in

Zim?)
 Buying power (disposable income)

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 SOCIAL ENVIRONMENT
 Social attitudes to work
 Religion’s impact on business

 Beliefs and their impact on demand on

goods
 Language

 Ethnic groups

 Cultural norms

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 TECHNOLOGICAL ENVIRONMENT

 Cell phone
 Cyber space (Internet/e-mail impact on

business)
 Genetic engineering (GMOs)

 Fuel (hydrogen, electric power, solar energy)

 Rate of change affects marketing of

products.

 “Technology enables efficient production

and future innovation”
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 COMPETITIVE ENVIRONMENT

Rivalry to increase sales, profit, market

share by players in the market;
 Direct competition

 Indirect competition

 General competition

 Backward/forward integration.

 “Marketers should understand their

competitive environment via continuous

scanning.” 13
 THE COMPETITIVE STRUCTURE OF
MARKETS
 Monopoly – single supplier
 Oligopoly – few powerful suppliers
 Monopolistic – substantial suppliers, similar
products
 Pure competition – many suppliers, similar
products

“Marketers should understand the structure of

their market as this determines marketing
strategy and positioning against rivals.”
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3. MARKET SEGMENTATION
 “Dividing a large market into smaller groupings of
consumers or organisations in which each subset
has common characteristics such as needs, wants,
behaviour.”

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 WHY SEGMENT ?

 Resource allocation
 Customer understanding

 Competition

 Measurement of performance

“Segmentation is the basis for future

strategy”

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 WHAT IS MEANINGFUL
SEGMENTATION?
 Homogenous characteristics

 Sales potential

 Accessibility

 Segment response

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MARKET SEGMENTATION PROCESS

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 STEP 1 – IDENTIFYING SEGMENTATION
VARIABLES

 Geographic
- Streets ,cities, regions, countries etc. Developments can influence marketing
intervention required to maximize opportunities.

Demographic
-Segmentation based on various population measures –age, gender, income,
nationality,education,occupation etc
 Behavioral
- Segmentation based on buying behavior, usage rates/volumes, buying
patterns, seasons, brand loyalty etc
 Benefit
-convenience, status, survival etc
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CONT.
 Psychographics
Social class
-Segmentation based on social class, personality traits
and/or life styles ( low, middle and upper) or further
into upper- lower, upper- middle and upper-upper
Personality traits
- Based on how differences in consumer personalities
affect what they consume (conservative, outgoing,
SRB,Nosey etc)
Life style
- Artistic, religious, adventurous,entreprenurial etc

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 STEP 11 – IDENTIFY RISKS

 Growth rate
-Is the market growing or dying

 Legal issues
-Can we comply with all requirement and still be viable

 Ecology
-What are the green issues?

 Technology etc
-Can we keep up with initial technology and upgrades
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required?
 STEP 111- SELECT TARGET SEGMENTS

 Segments should conform with company

strateg
- Return on investment

- Sales volume bench marks

- Social impact

- Perception
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MARKETING STRATEGY FORMULATION

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MARKETING STRATEGY

 “The overall plan for marketing a product

that includes selecting and analyzing a
target market and creating and maintaining
a marketing mix.”

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 TARGET MARKET

 Market segment likely to demand (

want/need) a product/service

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 4. THE MARKETING MIX
 The elements used by marketers to develop a
strategy for a target market.
 These are:

- Product

- Price

- Promotion

- Place/Distribution

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THE MARKETING MIX - CONT

PRODUCT PRICE

TARGET
MARKET

PROMOTION PLACE
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FIRST P- PRODUCT

 Product/services are what the enterprise

offers its customers
 This is what brings revenue to the enterprise

 Products and services are wide

 Products are generally physical and tangible

 Services are intangible-they are an

experience
 Goods/services may be referred

interchangeably

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I) CORE PRODUCT

Basic, the simplest possible form a product

can ever take
Examples:

 Functionality is the major focus in core

products-they must perform as required

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II) AUGMENTED PRODUCT

 Core product with some value additions to

differentiate it e.g.
- Colour
- After sales services
- Favourable terms
- Packaging
- Waranties

Examples of augmented products:

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III) TYPES OF PRODUCTS

 Consumer products - These are bought for

direct consumption by the consumer

 Industrial Products - These are bought so

that they can be used to produce other
products

 Above distinction is critical to guide

marketing strategy which differs between
the two.
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THE NEW PRODUCT DEVELOPMENT PROCESS
Inspiration via thought,
IDEA Generation
research, customer needs etc.

Preliminary procedure of
Idea Screening
getting early reaction
Concept Development
Screened ideas documented &
& Testing
tested
Business/Economic Sales Potential, costs estimates,
Analysis breakeven analysis

Product Development Development of prototype (design)

& Testing branding, packaging

Limited product exposure to target

Test Marketing
Market

Commercialization/Launch Full exposure to market in line

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with strategy. Product begins life
cycle
 THE PRODUCT LIFE CYCLE
Each Product goes through a life cycle as be
low:

(Early Majority)
(Innovators) (Late Majority)
Sales

(Laggards)

1. 2. Growth 3.Maturity
Introduction stage 4. Decline
stage
stage

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Time
 INTRODUCTION STAGE
 Slow growth progress due to low market awareness
 Only innovative customers buy

 Product has to be perceived as better than what is

available on market.
 At this stage profit is almost zero or losses actually are

actually recorded
 Marketing costs are very high as enterprise seeks to

gain market awareness and acceptance (advertising,

selling, PR)
 Poor marketing may affect product take off (still birth)
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 GROWTH
 Product gains better acceptance due to intensive
marketing
 Band wagon effect sets in as more customers accept

product
 Market acceptance leads to increased production

 More customers (early majority) buy product

 Marketing costs are still high, but decreasing per unit

produced. Profits may now be slowly coming into the

enterprise
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MATURITY

 Growth levels out as market saturates

 New entrants (competitors) enter the

market if entry barriers are low enough

 Replacement purchases and segments are

well defined
 Consumers may switch to other products

 Marketing efforts seek to augment products

and defending from competition

 Profit very high due to economies of scale

 Late majority consume product

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DECLINE
 Sales declining fast
 Customers switch to better competitors

 Laggards will enter the market, but there

impact is minimal
 Product may expire

 New product variations may be introduced

to replace declining ones

The PLC indicates that “change is

inevitable”
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PRODUCT MANAGEMENT

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PRODUCT MANAGEMENT
 Products do not survive on their own, they
have to be managed
 Marketers have to provide leadership in

product management-especially in multi

product companies

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A) PORTFOLIO ANALYSIS – THE BCG
MATRIX
High
STARS QUESTION
MARKS

Market
Growth CASH COWS DOGS

Low High
Low 40
 PORTFOLIO ANALYSIS – THE BCG
MATRIX – CONT.
 STARS
Medium to high market share, High market growth
 QUESTION MARKS

Low market share in growing market

 CASH COWS

Large share of slowly growing market

 DOGS

Slow share of slowly growing markets

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 SIGNIFICANCE OF BCG MATRIX TO
MARKETING
 Useful model for product management

 More useful in companies with large product

portfolios

 Compliments other product management

models

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PRODUCT MANAGEMENT STRATEGIES

 Three main strategies associated with the Product Life

Cycle

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BUILD STRATEGY

 Designed to increase penetration of product

in new or growing markets
 Strategy useful in introduction and growth

stages of the PLC

 Strategy would be used for managing stars

in BCG Matrix
 Marketing effort and expense are high
 Strategy is risky, requires aggression and
confidence to maintain product momentum
in the market

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 HOLD STRATEGY

 Strategy used to maintain status quo of the

product portfolio
 Stars – refined for greater market appeal

 Cash cows – modified to maintain

profitability
Product usage extensions used (eg dettol)
 Product is growing fast, with high market

potential
 Great care, good analysis necessary to hold

& grow stars to cash cows

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 HARVEST STRATEGY

 Focused on dogs in decline and tired cash

cows in late maturity.
 Applies mainly to dogs and tired cash cows
 Focus is on reducing costs (marketing
efforts, promotions etc)
 Harvesting must consider company situation
ie.:
- rapid withdrawal
- Gradual withdrawal
- Strategy must maximize cash flow and profit

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II) BRANDING

 The creation and fixing a certain

perception about a product or service.
 Branding;

- Uses emotional values

- Promises unique experiences

 Brands are intangible assets

 Staff play a critical role in branding – ie

delivering the promise

Brands have different interpretations:
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LOGO

 Name, sign, symbol or design or

combination e.g. Econet, Castle, Coca Cola,
BMW, Mazda, Apple
 Logo should be sustained through an

attribute-pay off line

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LEGAL INSTRUMENTS

 Exclusive ownership via trade mark

registration. Protects from imitators

 Look alike products (copy cats) can not be

totally eliminated (Chinese products)

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COMPANY

 Epitomizing company culture or

philosophy e.g. ABSA, ZESA, Econet &
Coca Cola
 Aims to reduce confusion that may
emanate from line branding (ZB –
Bank example)
 Staff critical in driving corporate
brand (Recruitment becomes a
branding exercise)

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PERSONALITY

 Use of personalities with desired attributes

in advertising e.g. Thiery Henry, David
Beckam, Pele, Miss Zimbabwe etc
 May also come from pricing, distribution

outlet

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SECOND P- PRICING

 Price is the agreed value in an

exchange process
 Important element of Marketing Mix
 Price is the only element of the
marketing mix which ultimately
expresses and measures profit
 Marketers must understand the
perception of price by all stakeholders
 Pricing has been a topical issue in
Zimbabwe today
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 IS PRICE REALLY IMPORTANT?
i) Price has strong impact on sales volume, up to 20
times. Elasticity substantially higher than advertising
ii) Very rapid influence on demand
iii) Price can be modified much quicker than other
elements of the marketing mix, but so does
competition
iv) Price is good indicator of initial sacrifice a consumer
must make and also guide to product quality
v) Key factor in determining new product success or
failure as well as government intervention

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PRICING OBJECTIVES

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I) TRADITIONAL OBJECTIVE

 Price should achieve a desired Return on

Investment (ROI) – i.e. for every dollar
invested, a percentage return must be
achieved

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II) STABILIZING

 Associated with oligopolies

 Price leader sets tone and others follow

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III) MARKET SHARE
 Price used to grow market during growth
phases
 Price used to hold market share in mature

marketers
 Price used to harvest or divest from market

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IV) COMPETITION

 Following dominant or direct competitors,

low price can be used to forestall
competition e.g. Natbrew vs from outside
(December) or Natbrew vs Nesbert Castle

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PRICING METHODS

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I. COST PLUS PRICING

 Oldest form of pricing

 Organization has a defined mark up
percentage to cost of product
 Method very simple to use
 Commonly used in retail and
wholesale business
 Method too simple, tends to ignore
other variables (cost variations,
competition, regulations etc.)
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 II. BREAK EVEN ANALYSIS
 Variation of cost based pricing

 BEP = Total Fixed cost

(Price – Variable cost) per unit

 Simplistic view on cost & revenue relationship

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 III. CONSUMER ORIENTED PRICING
 Price determined by market appetite
 High demand High Price
 Low demand Low Price
 Consumer pricing is more amenable to price

discrimination. (as influenced by location and time)

 Other variations are:

- Prestige pricing

- Odd Pricing or psychological

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 IV. COMPETITION ORIENTED
PRICING
 Suited for followers
 Suited for homogeneous, competitive

markets
 Industry identifies then follows a leader

 Impact of FTA on Zimbabwe?

 For industrial goods, bidding is used and

pricing has to reflect perceived competitor

pricing
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V. CONTROL ORIENTED PRICING

 Controls come from state organs e.g.

- NIPC – Price Controls
- Government – Tele-communications
- Government - Customs

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 THIRD P- DISTRIBUTION (PLACE)
 Distribution consists of the activities
surrounding the transportation of goods to
consumers i.e. transfer of ownership
 Main distribution objectives is to deliver:
- right goods to
- Right customer at
- Right time at
- Right place and
- Right price – often the lowest

All distribution decisions must consider

efficiency and effectiveness considerations65
 DISTRIBUTION CHANNELS
 These differ & traditionally they are;
a.
Manufacturer Consumer

Manufacturer Wholesaler Consumer

b.

c. Manufacture Wholesaler Retailer Consumer

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 DISCUSSION POINT

 “What is the impact of internet on

distribution?”
 The physical distribution process has four

main areas:

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 INVENTORY/STOCK

 Optimum inventory levels must be kept bearing in

mind:-
- Minimum/basic stock in line with consumption rate

- Safety stock to deal with variability in order or

lead time
- Seasonal/promotional stock

The most common inventory management systems

are:
• JIT (Just In Time)

• EOQ (Economic Order Quantity)

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 WAREHOUSING

 This is the storage of goods in transit using:

- dedicated warehouses (e.g. Bak Storage,
Manica)

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 TRANSPORTATION
 When choosing the mode of transportation for
goods, marketers consider:

- Speed
- Dependability
- Delivery frequency
- Cost per ton per km
- Geographic spread
- Perishability
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COMMON MODES OF TRANSPORT
ARE:

 Railway
 Road
 Airway
 Pipeline
 Electronic

 It is advisable to use a combination of these

modes in line with situational demands and cost
effectiveness

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 HANDLING

 Handling of a product in transit is crucial to

reduce damage. This can be achieved via:

- Electronic technology
- Palletisation and fork lifts
- Containerization

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 SERVICE DELIVERY
 Whereas physical goods are moved to
customers, consumers are generally seek out
services
 Capacity to deliver service is enhanced by ;
- Increasing number of outlets (Banks, internet
cafes etc.)
- Extending business (?)
- Size of service provider(?)
 Location of service centre follows through
forecast of traffic flow

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 FOURTH P-PROMOTION

Promotion comprises all the

communications targeted at consumers
and other stakeholders.
 Promotion is the source of product
information
 Promotion is the vehicle used by
marketers to sell products
 Promotion should be factual and
persuasive
 Regulations exist governing the conduct 74

of all promotions
 THE PROMOTIONAL MIX
 Comprises all the tools used by marketers to
communicate. These are:
- Advertising

- Sales Promotion

- Personal Selling

- Public Relations

- Publicity 75
 I. ADVERTISING

 All paid non personal communication by an

identified sponsor in a chosen medium e.g.

 It is more efficiently used where a marketer

needs to reach a multitude of potential
customers

 Exposure is guaranteed

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 II. SALES PROMOTION

 Allactivities used to induce higher

product demand in the short run
 Sales promotion usually;

- Have a specific duration

- Are intense

- Are complimentary (selling &

advertising)
- Very varied (product leaflets,

brochures, annual reports, give aways

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etc.)
 III. PERSONAL SELLING

 A two way communication between

marketer & consumer for the purpose of
making a sale

 Marketer gets immediate feedback

 Marketer has chance to present

product/service

 Marketer spends more time, Money & effort

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IV. PUBLIC RELATIONS

All communication programmes targeting the

key stakeholders;

 Consumers
 Government

 Employees

 Investors

 Society

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PUBLIC RELATIONS CONT.

 Focus of Public Relations is to present

a positive, good corporate citizen
image & dispel negative perceptions

 Focus is on non product

communications
- Non product personal selling
(lobbying, press releases, government
and community affairs, advertorial
advertising) 80
 V. PUBLICITY

 Promotion via a news release to chosen

news media, delivering a message to a
known target audience.
- News release must be news worthy
- News release is not paid for except for the
cost of producing & distributing it.

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MANAGING PROMOTIONAL ACTIVITY

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PROMOTIONAL OBJECTIVE

 Each promotion must have a set of clear

objectives e.g.

- Percentage Increase

- Percentage Market Penetration

- Number of new clients/customers

- Percentage Market Share

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PROMOTIONAL BUDGET

 Funds must be allocated to all promotional

mix elements used. Commonly used
methods include;

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 A. PERCENTAGE OF SALES OR
ANNUAL PROFIT AFTER TAX
 Advantages – Easy to implement

 Disadvantages – Too simplistic

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 B. COMPETITIVE PARITY

 Budget based on competitor activity

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 C. ALLOCATE ALL YOU CAN

 Allocations are more logical and not linked

to specific marketing activity

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D. OBJECTIVE /TASK METHOD

 Allocation based on predetermined

promotional plan

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 PERSONAL SELLING & SALES
MANAGEMENT
 This is a two way communication between
marketer(s) and clients for the purpose of making
a sale.

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 SELLING SITUATIONS
 Responsive selling - order taking
 Trade selling – Order taker with high service
emphasis (furniture, food, clothes etc.)
 Missionary selling – influencing the decider in
the buying process
 Technical selling – Oriented at solving complex
technical customer problems on the spot
 Creative selling.
 The creative selling method is the most
challenging. It normally follows various stages
as below:
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STEP 1 PROSPECTING (GRAZING)

 Search for and qualification of potential

customers

 Sources of prospects?

91
STEP 2 PREPARATION

 Buyer’s needs understood so as to match

with offering

 Thorough knowledge of features, benefits

and limitations of products

 Structure presentation in line with situation

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STEP 3 PRESENTATION

 This addresses the buying center’s needs

 Buying center comprises

- Initiators
- Users
- Deciders
- Gate keepers
- Buyers

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 STEP 4 HANDLING OBJECTIONS
 This is inevitable, so all sales people must learn
to deal with them

 Understand the objections which could really be;

- Request for more information
- Stoppers – wrong prospects
- Stalls – prospect not ready to buy yet

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ANSWER OBJECTIONS BY

 Forestalling the objection

 Compensating for issues objected

 Rebut incorrect statements

 Suggested different view

95
STEP 5 CLOSE THE SALE

 Sales person leads prospect to a purchase

decision
 Watch for buying signs

 Close the sale by

-Asking for order

-Generate yes answers
-Reserve an advantage and use it as a bonus

96
STEP 6 AFTER SALES/POST SALE

 Getting the order does not mean end of

selling process. Sales person should;

- Maintain good will

- Reduce cognitive dissonance
- Understand reasons for not buying
- Get more prospects
- Market intelligence

97
 SALES MANAGEMENT

 This refers to achieving sales objectives through

effective and efficient management of the selling
process, mainly sales people.
 The main functions in the process are:

98
 RECRUITMENT & SELECTION

 Specify qualifications
 Attract potential sales people

 Watch for knowledge, and experience

99
 TRAINING

 About product
 Procedures

 Training varies with organizations

100
 SUPPORTING

 Provision of resources
 Coordination of resource allocation

101
 STRUCTURING

 Along product, function etc.

102
 MOTIVATION
 Compensation for sales person using;
- Salary (straight or basic plus)
- Commission or bonus
- Expenses
- Fringe benefits
- Sales reinforcement programmes
- Performance awards

103
 CONTROL
 To ensure adherence to standards

104
 5. MARKETING PLANNING

 Planning is important to ensure growth,

survival and profitability in future years. It
provides broad direction to guide
organisational activities

105
 STRATEGIC PLANNING

 Planning horizon is very long term

 It is all encompassing, seeking to align the

organisation with both internal and external

environment

106
 STRATEGIC MARKETING

 Derives from the strategic corporate plan

 Focuses on seeking marketing opportunities,

exploiting them and forecasting consequent
outcomes thereof

107
PLANNING LEVELS

108
OPERATIONAL PLANNING
 For supervisory managers

 Very short term in nature

 Concerned with daily operational efficiency

(production line)

109
 TACTICAL PLANNING

 For middle managers

 Examines a given specific scope of

performance over a relatively short time

e.g. Product Managers
Brand Managers
Business Development Managers

110
 STRATEGIC PLANNING

 Very broad view

 Very long term in nature

111
 Conceptual Skills

Strategic
Level

Middle
Level

Supervisory
Level

Technical Skills
o

112
THE STRATEGIC MARKETING
PLANNING
 This follows eight critical steps as below:

1. Assess the environment (PEST)

2. Assess current performance (SWOT)

3. Establish specific objectives (SMART)

4. Develop marketing strategy (4Ps)

5. Design marketing programs (Work flow)

6. Implement Programmes (Act)

7. Monitor & control results (Reports)

8. Provide Feedback (Appraise) 113

 STEP 1 – ASSESS THE
ENVIRONMENT

 Planning has to align the organisation with the

environment
 Detailed understanding is required on:
- Political
- Economic
- Social
- Technological
- Competition
- developments
 Any plan that ignores these developments fail e.g.
- General Motors
- Coca Cola
114
- Natbrew
 Also do thorough SWOT analysis
STEP II – ASSESS CURRENT
PERFORMANCE
 This exposes the internal environment and links with
SWOT
 Thorough analysis required on:
- BCG Matrix
- Product life cycle
 Also consider performance in terms of all critical
success factors in the industry e.g.
- Market Share
- Profitability
- Cost efficiency
- Technical skills
- Brand strength
- Product development
115
- Pricing
- Distribution outreach etc.
 STEP III – ESTABLISH OBJECTIVES
 These should align with goals as per mission
statement
 They should be consistent with (internal &

external) environment i.e. PEST & SWOT

 They should be SMART, specific,

measurable, attainable, realistic, timed e.g.

“Increase market share from 5% in January
2009 to 6.5% by December 2009.”

116
 STEP IV – DEVELOP THE
MARKETING STRATEGY
 Marketing the marketing strategies should be
developed to achieve the stated objectives
 This involves selecting and maintaining a

marketing mix (4Ps)

117
 COMMON GROWTH STRATEGIES
Core Strategy Strategy Components Meaning

Intense Growth -Market Penetration -More activity in current markets

-Market Development -Enter new markets with same
-Product Development products
-New/improved products in current
markets

Diversified Growth -Horizontal growth -Growing in current markets with

-Concentric diversification same technology
-Conglomerate diversification -Enter new markets with related
technology
-Enter totally unrelated markets
which require different

Integrated growth Gaining foothold on Growth in same industry

(suppliers, distribution,
absorbing competition)
118
 STEP V – DEVELOP THE
MARKETING PROGRAMME
 Select target market
 Develop marketing mix

 Specify responsibilities and accountability areas

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 MARKETING PROGRAMME (E.G.)
Objective Strategy Responsibility Start Finish

Grow Market Capture corporate Marketing February December

Share by export market Manager 2009 2009
1.5% by
December Modify current Production January February
2009 2009 2009
products to include Manager
more benefits

Advertise new Marketing March August

offerings Manager 2009 2009

Review current price Finance Director January March

2009 2009

Improve delivery turn Logistics March December

around Manager 2009 2009

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STEP VI – IMPLEMENT MARKETING
PROGRAMMES
 Conduct workshops with departments
 Develop returns/reports

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 STEP VII – MONITOR & CONTROL
MARKETING PROGRAMS

 Financial reports (P & L Accounts)

 Product performance reports

 Market share analysis

 Short term objectives

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 STEP VIII – PROVIDE FEEDBACK
 Review of short term objectives
 Briefing sessions (meetings/workshops)

 Circulate performance refers to stakeholders

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6. ASSIGNMENTS & EXAMINATIONS

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