Strategic Analysis for Marketing Decision-Making
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Indian economy is changing. We are witnessing a shift from “sellers’ market” to “buyers’ market”. License Raj has already ended. Organisations everywhere are now in search of excellence in their drive to delight their customers. Things are happening much faster now than that in the past. Product life cycles are becoming shorter. Only those companies who keep up with the fast pace will stay alive in the 21st century (Alvin Tofler). The so far protected domestic market is now being attacked by the multinationals; Indian companies are venturing out to conquer the global market. The world is increasingly becoming “borderless”. Planning and executing a marketing strategy involves many interrelated decisions about what to do, when to do it and how. A substantial amount of analysis of customers, competitors and the company itself should occur before designing a marketing strategy. Thus, the successful strategic decisions usually rest on an objective, detailed and evidence-based understanding of the market and the environmental context. Good judgment is not enough to make good strategic decisions- thorough analysis is required. The analysis necessary to provide the foundation for a good strategic marketing decision-making should focus on four elements of the overall environment of a firm: (1) the company’s internal resources, capabilities, and strategies, (2) the environmental context, (3) the relative strengths and weaknesses of competitors, and (4) the needs, wants, and characteristics of current and potential customers. This programme is designed around these four fundamental elements.
The programme will help the participants seek answers to the following questions:
- Who are the potential customers? How to tap them?
- Are there any customers not being served properly?
- Who are the potential competitors?
- What are the bases of the firm’s advantage over its competitors?
- What factors in the external environment influence how the firm will perform?
- How will these factors change?
- How much emphasis should a firm place on each market it operates in?
- What are the expected results of any given strategy?
- How to use marketing analytics to improve the understanding of customers?
- Environment scanning
- Business Unit Strengths and Weaknesses
- Product / Market Opportunities
- Industry / Competitive Analysis
- Market Analysis and Market Size Estimation
- Economic and Risk Analysis
- Marketing Analytics
Who should attend
- All senior executives / managers in charge of sales or marketing functions
- Newly appointed SBU heads
- Managers without any formal qualification in Marketing Management