CH- 2| PART - 2| DEVELOPING MARKETING STRATEGIES AND PLANS || HPSC PGT COMMERCE 2023, IBPS SO , NET

Deesha Classes

8 Jan 202218:07

Summary

TLDRThis video script from 'Disha Classes' offers an in-depth exploration of strategic planning and marketing strategies in e-commerce and traditional retail. It covers topics from value delivery to customer behavior, and discusses the importance of understanding market needs and adapting business strategies accordingly. The script delves into the planning process at various corporate levels, including the development of marketing strategies and the allocation of resources. It also highlights the success stories of companies like Amazon and emphasizes the significance of a well-researched and customer-focused approach in business operations.

Takeaways

📚 The script introduces 'Disha Classes', a platform providing video chapters on various subjects related to e-commerce and straight page e-commerce.
🔍 The first chapter, already uploaded, covers marketing problems from 1531, emphasizing the importance of understanding and adapting to customer needs.
🛠️ The second chapter, 'Developing Marketing Strategies and Plans', discusses how to create marketing strategies for a class, including the process and activities involved.
💡 It highlights the importance of delivering value to customers and the need for a team to manage the process of value delivery, including any changes in activities.
📈 The script talks about the role of strategic planning in business, explaining how successful companies like Amazon have understood and adapted to customer needs.
🏢 The concept of 'Corporate Labels' is introduced, which includes four levels: Corporate, Division, Business Unit, and Product, each with its planning role.
📝 Strategic planning tips are shared, explaining how plans are made at different levels and the importance of aligning marketing departments with these plans.
📉 The script mentions that companies that have not been successful in the current time are those that have not adapted to changing customer needs.
📈 It emphasizes the role of a well-developed marketing department in researching and planning according to customer demands and market trends.
📊 The importance of understanding the strategic business unit and its profitability is discussed, along with the decision-making process for resource allocation.
🌐 The script concludes by encouraging viewers to share and subscribe to the 'Disha Channel' for more subject-wise and chapter-wise videos on e-commerce operations.

Q & A

What is the primary focus of the 'Disha Classes' channel?
-The primary focus of the 'Disha Classes' channel is to provide video chapters on various subjects related to net commerce and street page commerce.
What is the starting point of the discussion on marketing operations in the script?
-The discussion on marketing operations starts from the year 1531, covering the marketing problems of that era.
What is the significance of understanding customer needs in the context of the script?
-Understanding customer needs is significant as it is the basis for successful companies adapting to market changes and designing their marketing and production strategies accordingly.
Can you explain the concept of 'Strategic Planning' as discussed in the script?
-Strategic Planning, as discussed in the script, involves the process of defining the company's mission, establishing strategic business units, allocating resources, and planning for the growth and profitability of business units.
What is the role of marketing strategy in the context of the script?
-In the script, the role of marketing strategy is to develop plans that focus on delivering value to customers, understanding their behavior, and creating processes that enhance customer experience and value.
What are the four levels of planning discussed in the script?
-The four levels of planning discussed in the script are Corporate Planning, Division Planning, Business Unit Planning, and Product Planning.
How does the script describe the evolution of Amazon's mission?
-The script describes the evolution of Amazon's mission from being an online bookstore to becoming the world's largest online store, adapting to changing customer needs and market demands.
What is the importance of the '10 Strategic Planning Implementation and Control Process' mentioned in the script?
-The '10 Strategic Planning Implementation and Control Process' is important as it outlines the steps for planning, implementing, and controlling strategic plans to ensure the organization meets its goals and objectives.
How does the script relate to the planning process of large companies?
-The script relates to the planning process of large companies by discussing how they use strategic planning at different levels, such as corporate, division, business unit, and product, to allocate resources and make decisions for growth and profitability.
What is the significance of understanding the market and customer needs for a company's strategic planning, according to the script?
-According to the script, understanding the market and customer needs is crucial for a company's strategic planning as it helps in designing products and services that meet customer expectations and ensures the company's success in a competitive market.

Outlines

00:00

📈 Introduction to Disha Classes and Course Overview

Welcome to Disha Classes, where we provide comprehensive chapter-wise and topic-wise video tutorials for NET Commerce and PGT Commerce subjects. In this session, we are continuing our exploration of the second chapter on 'Developing Marketing Strategies and Plans'. In previous parts, we discussed delivering customer value, the process involved, and the activities required. Today, we will delve into strategic planning and the roles of business units and family planning in this context.

05:02

📊 Importance of Strategic Planning in Business Success

This section emphasizes the critical role of strategic planning in ensuring business success, especially in understanding and meeting customer needs. Companies like Amazon, which have studied the market and designed products accordingly, are highlighted as examples of successful strategic planners. The discussion covers the four levels of large company planning: Corporate, Division, Business Unit, and Product, and how each level contributes to overall business strategy.

10:04

🏢 Corporate and Division Level Planning

Here, we explore the corporate and division levels of strategic planning, using Samsung as an example. The corporate level involves the overall company strategy, while divisions focus on specific product categories like mobile phones and electronics. The planning includes resource allocation, business unit performance, and market positioning. The importance of understanding the company's mission and adapting it to market changes, as demonstrated by Amazon's shift from a book store to a comprehensive online store, is also discussed.

15:04

📋 Business Unit and Product Level Planning

This section covers the planning at the business unit and product levels, focusing on profitability and market strategy. Business units plan to operate profitably, while product-level planning involves detailed marketing strategies, including target markets, value propositions, and tactical marketing plans. The discussion includes the importance of features, pricing, promotion, and distribution in marketing planning, and the necessity of strategic and tactical planning to achieve business goals.

Mindmap

Keywords

💡Marketing Strategies

Marketing strategies are plans developed by businesses to attract and retain customers by delivering value and addressing their needs. In the video, the focus is on developing effective marketing strategies to ensure the company's success by understanding customer needs and designing products accordingly. The example given is Amazon, which successfully understood customer preferences and adapted its business model to offer convenient online delivery services.

💡Corporate Planning

Corporate planning involves defining a company's overall mission and goals, and creating strategies to achieve them. This planning occurs at the highest level of the company and sets the direction for all other divisions and business units. In the video, corporate planning is discussed as essential for companies like Samsung, which has different divisions for electronics, mobile phones, and home appliances.

💡Division Planning

Division planning focuses on setting goals and strategies for specific divisions within a larger corporation. Each division, such as Samsung's mobile or electronics division, has its own plan to ensure its success and contribution to the overall corporate goals. The video highlights how Samsung's various divisions, such as mobile and electronics, operate independently but align with the overall corporate mission.

💡Business Unit Planning

Business unit planning involves creating strategies for individual business units to operate profitably and efficiently. Each business unit is responsible for its performance and aligns its plans with the division's objectives. In the video, the importance of business unit planning is emphasized in ensuring that each unit contributes to the company's success, such as Samsung's washing machine and refrigerator units.

💡Product Planning

Product planning involves developing detailed plans for specific products, including their features, pricing, promotion, and distribution. It is part of the broader marketing strategy to ensure products meet customer needs and achieve business goals. The video explains how product planning is critical in marketing, covering aspects like market targeting and value proposition.

💡Strategic Marketing Plan

A strategic marketing plan outlines long-term marketing goals and strategies, focusing on market positioning and overall value proposition. It is broader in scope and aligns with the company's mission and objectives. In the video, strategic marketing planning is discussed in terms of defining target markets and the company's market position.

💡Tactical Marketing Plan

A tactical marketing plan is more short-term and focuses on specific actions and tactics to achieve marketing goals. It includes details on product features, pricing, promotion, and distribution strategies. The video describes how tactical marketing plans are implemented to reach target markets and execute marketing strategies effectively.

💡Customer Value

Customer value refers to the perception of benefits received by customers relative to the cost of obtaining those benefits. Delivering high customer value is essential for customer satisfaction and loyalty. The video discusses the importance of understanding and delivering customer value through well-developed marketing strategies and business practices.

💡Resource Allocation

Resource allocation is the process of distributing resources, such as funds and personnel, across different divisions and business units to achieve strategic goals. Effective resource allocation ensures that the most promising units receive adequate support. The video illustrates how companies like Samsung allocate resources to various business units based on their performance and strategic importance.

💡Growth Opportunities

Growth opportunities refer to potential areas for business expansion and increased profitability. These can be explored through market penetration, product development, and diversification strategies. The video discusses different types of growth opportunities, such as integrative growth and diversification, and how businesses can leverage them for long-term success.

Highlights

Welcome to the Disha Classes channel, which offers video chapters on various subjects related to net commerce and strategy page e-commerce.

Introduction to the first chapter on marketing problems, covering from 1531 onwards.

Emphasis on the development of marketing strategies and plans in the second chapter.

Discussion on the importance of understanding customer needs and behavior in the marketing process.

Explanation of the process involving three activities for delivering value to customers.

The role of a team in value delivery and changes in activities discussed.

Introduction to strategic planning and its significance in business units and companies.

The importance of adapting to changing customer needs for company success.

Case study of Amazon, illustrating how understanding customer needs led to the development of online delivery services.

Structuring of large companies into four levels: Corporate, Division, Business Unit, and Product.

Planning at different levels, from corporate to product, and its impact on business strategy.

The role of marketing in developing strategies for product features, pricing, promotion, and distribution.

Differentiation between strategic and tactical marketing planning.

Importance of defining target markets and value propositions in marketing plans.

The process of planning, implementation, and control in strategic planning.

Discussion on corporate and division planning, including differences and similarities.

The concept of resource allocation and decision-making for business units and their profitability.

Exploring growth strategies such as integration, intensive, and diversification.

The role of backward and forward integration in business growth.

Encouragement to share and subscribe to the Disha channel for comprehensive subject coverage.