Channel design Channel coverage Intensive Selective Exclusive - PowerPoint PPT Presentation

PLANNING A B2B MARKETING CHANNEL STRATEGY Channel design • Channel coverage • Intensive • Selective • Exclusive • Channel management decisions • Selecting suitable channel partners • Managing and motivating channel partners • Evaluating channel partners • Remember to complete the activities in your • guide www.regenesys.co.za

SECTION 6 Integrated Marketing Communication www.regenesys.co.za

INTRODUCTION • A basic function of marketing has always been to act as a link between the company and its customers • Marketing communication is part of this link between the retail marketer and potential buyers or other marketing channel partners • Marketing communication can be described as the voice of marketing, which informs consumers about the existence of a business and its products and services www.regenesys.co.za

THE PROMOTION MIX • A company’s total promotion mix (also called its marketing communications mix) consists of: The blend of advertising, public relations, • personal selling, sales promotion and direct and digital marketing tools that the company uses to persuasively communicate customer value and build customer relationships www.regenesys.co.za

THE NATURE AND IMPORTANCE OF INTEGRATED MARKETING COMMUNICATIONS In the traditional model of mass marketing, • companies designed, produced and promoted standardised market offerings to masses of customers Mass marketing strategies relied on mass- • media communications techniques to support these strategies The emergence of modern micro-marketing • has confronted marketing managers with several new marketing communications realities There are several factors contributing to the • changing face of marketing communications www.regenesys.co.za

THE NATURE AND IMPORTANCE OF INTEGRATED MARKETING COMMUNICATIONS • New marketing communications realities Consumers are better informed and more • communications empowered Marketing strategies are changing • Profound advances in communications • technology • Traditional media not dead yet • Answer the questions in your guide on the promotional mix elements www.regenesys.co.za

DEVELOPING AN IMC PROGRAMME • Step 1: Identify the target audience • Step 2: Determine the communication objectives • Step 3: Design a message • Step 4: Choose the media through which to send the message • Step 5: Select the message source • Step 6: Collect feedback • Remember to complete the activity on the elements of an IMC programme www.regenesys.co.za

SIX BUYER READINESS STAGES 1. Awareness 2. Knowledge 3. Liking 4. Preference 5. Conviction 6. Purchase These stages are important when determining the communication objectives www.regenesys.co.za

AIDA MODEL • Attention • Interest • Desire • Action The model is used when designing message for IMC. www.regenesys.co.za

MARKETING COMMUNICATION IN BUSINESS MARKETS As we have seen, there are major differences • between business markets and consumer markets There are also similarities • The promotion mix is also used by business • marketers and consumer marketers There are differences in emphasis and focus on • specific elements of the promotion mix Business marketers prefer using push promotional • strategies; while consumer marketers favour pull promotion strategies Answer the questions in your guide – Microsoft • case study www.regenesys.co.za

SECTION 7 Bringing it all Together: Organisational and Marketing Strategy www.regenesys.co.za

INTRODUCTION Strategy can be defined as the match between what a company can do (organisational strengths and weaknesses) within the universe of what it might do”(environmental opportunities and threats) www.regenesys.co.za

STRATEGIC MANAGEMENT TERMINOLOGY AND CONCEPTS • “A strategy is the overall plan guiding a firm. It influences the firm’s business activities and its response to market forces, such as competition and the economy” (Berman and Evans, 2013:40) • Closely related to strategy, are the concepts of strategic planning and strategic management www.regenesys.co.za

STRATEGIC MANAGEMENT TERMINOLOGY AND CONCEPTS Strategic management can be defined as “the • art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives” (David, 2013:35) Strategic planning can be defined as “the • process of proactively aligning the organisation’s resources (internal environment) with threats and opportunities caused in the external environment” (Smit et al, 2011:84) www.regenesys.co.za

THE STRATEGIC MANAGEMENT PROCESS • At its most basic level, strategic management is concerned with finding answers to four questions: Where are we now? • Where do we want to be? • How do we get there? • How can we ensure arrival? • www.regenesys.co.za

THE STRATEGIC MANAGEMENT PROCESS • The strategic management process involves three phases: Strategy formulation — strategies are • developed Strategy implementation — strategies are put • into action Strategy evaluation — strategies are • measured to determine their success www.regenesys.co.za

THE STRATEGIC MANAGEMENT PROCESS • Strategy formulation Vision • Mission • Strategic objectives • Environmental analysis • Situational analysis • Craft a strategy to achieve the objectives • www.regenesys.co.za

THE STRATEGIC MANAGEMENT PROCESS • Strategy implementation In this phase, the (overall) strategic plan is • implemented The organisation's structure, systems and • culture might have to change so that they align to the new organisational strategy www.regenesys.co.za

THE STRATEGIC MANAGEMENT PROCESS • Strategy evaluation The third and final phase of strategic • management actually consists of two phases Control phase • Feedback phase • • Refer to the research activity in your guide (business situational analy www.regenesys.co.za

FROM CORPORATE STRATEGY TO MARKETING STRATEGY • The third and final step in phase 1 of the strategic management process (figure 15) involves crafting an overall, detailed strategy at the corporate level of a retail firm • We will now discuss how to design a competitive marketing strategy aligned with the company’s overall (corporate) strategy www.regenesys.co.za

FROM CORPORATE STRATEGY TO MARKETING STRATEGY Identifying and analysing competitors • Whom are we competing against • Assessing competitors • Selecting which competitors to attack and which • to avoid Competitive strategies • Approaches to marketing strategies • Basic competitive strategies • Overall cost leadership • Differentiation • Focus • Competitive positions • www.regenesys.co.za

PURPOSE AND CONTENT OF A MARKETING PLAN • Through strategic planning, the company decides what it wants to do with each business unit • Marketing planning (in turn) involves choosing marketing strategies that will help the company attain its overall strategic objectives • A detailed marketing plan would eventually be developed for each business, product, or brand www.regenesys.co.za

MAJOR ELEMENTS OF A MARKETING PLAN A marketing plan involves the design and • implementation of activities related to the marketing objectives of the company as part of its overall strategic objectives It becomes the guide (or roadmap) for all • marketing activities, covering all the sections discussed in this module and more As a written document, the marketing plan • contains several strategic elements that cut across departments and functions, also involving a range of cross-functional personnel in a company • www.regenesys.co.za

MAJOR ELEMENTS OF A MARKETING PLAN www.regenesys.co.za

MAJOR ELEMENTS OF A MARKETING PLAN Marketing objectives • SMART • Target market and positioning strategy • Marketing mix • Product • Price • Promotion • Place • Implementation, evaluation and control • The focus of control • The retail audit as a control tool • Characteristics of an effective control system • www.regenesys.co.za

MARKETING ETHICS AND SUSTAINABILITY Sustainability and responsibility • Ethics, sustainability and responsibility are closely • related concepts As society’s ethical awareness grows, the • commitment by corporates to be good citizens of the country (and the world) has also grown The marketing concept, as a business philosophy, • means that businesses are part of the society in which they operate and are therefore responsible to that society They have a social responsibility to act in good faith • and according to the law For ethically responsible marketers displaying social • responsibility is a fundamental way of doing business www.regenesys.co.za

MARKETING ETHICS AND SUSTAINABILITY Corporate social responsibility refers to the • responsibility of a company to ensure that it: Produces only products that are safe for human • consumption Manages itself responsibly, to the benefit of its • employees and society Contributes to the sustainable utilisation of the • natural environment Contributes to the up liftment and development • of disadvantaged people Manages itself according to the moral, ethical, • and legal frameworks and rules of society www.regenesys.co.za