1) MARKETING STRATEGY

Introduction to Marketing Strategy

A marketing strategy is a long-term plan that helps a company achieve its goals by understanding
customer needs. It helps create a competitive advantage that is strong and long-lasting. It covers
everything from identifying customers to choosing the best methods to reach them.

This strategy helps a company decide its position in the market, what kind of products it should
make, whom to partner with, and how to promote its products or services. Having a well-planned
marketing strategy is very important for a business to be successful.

Understanding Marketing
Marketing means connecting a company with people who may become customers. It is also
about linking those customers to the company’s products and services. This includes:

 Understanding what customers want

 Turning those wants into useful products or services
 Deciding the price and packaging
 Convincing people to buy the products

Marketing is not just about selling but about meeting the needs of customers in a better way than
competitors.

What Does a Marketing Strategy Include

A marketing strategy gives the overall direction for marketing activities. It is not about the tiny
details but about the big picture. A good marketing strategy helps in deciding the following:

 Target Audience – Who are the customers

 Value Proposition – Why customers should choose your product
 Product Mix – What products you will offer
 Brand Messaging – What message you will give about your brand
 Promotional Initiatives – What promotions you will do
 Content Marketing – What kind of content you will create to reach customers

Importance of Marketing Strategy

Having a marketing strategy is very important for both the marketing team and the whole
business. It helps the business:

 Stay connected with customer needs

 Develop the right products
  Choose the best ways to share product information

Without a marketing strategy, the company will not know who its customers are. It may also
build the wrong products and waste money on promotions. A proper marketing strategy leads to
more success.

Steps to Create a Strong Marketing Strategy

1. Set Clear Business Goals

The company's vision and goals are the base of the marketing strategy. These goals help
define marketing goals like:
o Gaining more market share
o Becoming a leader in a particular market or channel
o Reaching a certain type or number of customers

These goals should be measurable and realistic.

2. Identify and Study the Target Market

Once goals are set, the next step is to know the target market well. This includes doing
market research to understand:
o Size of the market and how much it can grow
o Current market trends
 o Who the competitors are
o Location and age/gender of customers (geographic and demographic data)
o How customers behave (buying habits, needs, and preferences)

Focus on the 7 P’s of Marketing

The marketing mix is made up of 7 key elements:

 Product – What you offer to solve customer problems

 Price – How much customers are ready to pay
 Promotion – How you tell customers about your product
 Place – Where the product is available for purchase
 People – Those involved in selling or supporting the product
 Packaging – How the product is presented to customers
 Process – How the product is delivered or experienced by the customer

Each of these must be planned carefully to satisfy customer needs and stand out from
competitors.

Developing Product Plans

Once you understand what the customer wants, you can create a product that fits those needs.
While creating the product is not the job of the marketing team, they play a key role in:

 Suggesting product features

 Helping decide the price
 Giving inputs on packaging

These decisions must be based on what the customer needs and what the data shows.

Identify the Key Benefits of the Product

Good marketers know that customers don’t just look at features. They care about how the
product will help them. So it’s important to identify the main benefits the product provides. A
product may look good or be advanced, but if it does not solve the customer’s problem, it may
fail in the market.

Customers want value. Marketers must show clearly how the product meets those needs or
solves problems.

Crafting Positioning and Messaging

Positioning means how a product is placed in the minds of the customers. It should be based on
the product’s benefits. The marketer must understand what the target customers care about and
position the product accordingly.

Messaging is the way that positioning is communicated. It should be clear, simple, and attention-
grabbing. For example, if a product is the fastest solution to a common problem, all advertising
and promotion should highlight this benefit.

Define Your Marketing Mix

At the end, the marketing strategy should clearly say how to reach customers. This includes
selecting marketing channels, such as:

 Traditional – TV, radio, newspapers

 Digital – Websites, social media, emails, mobile apps

The best strategy uses a mix of these channels depending on where the customers are most
active.

2) Marketing Mix

Introduction
The marketing mix is a set of strategies and tools that companies use to market their products or
services. It helps in making the product successful in the market. The term “marketing mix”
originally had 4 main elements—Product, Price, Place, and Promotion, commonly known as the
4Ps of Marketing.

Today, it has been extended to 7Ps to better suit the needs of modern marketing, especially in
service industries. These tools help businesses plan how to launch a product, promote it, price it
correctly, and make it available to customers in the right place.

What is a Marketing Mix?

The marketing mix is a toolkit used by companies to ensure their product reaches the right
customers. It helps in:

 Positioning the product correctly.

 Selling it at the right price.
 Placing it in the right market.
  Promoting it in the best way.

It ensures that the product or service is sold in the right place, at the right time, and to the right
people using the right strategies.

The 4Ps of Marketing

1. Product

A product is something that satisfies a customer’s need. It can be:

 Tangible – like a phone or clothes.

 Intangible – like software or insurance.

Each product has a life cycle:

 Growth
 Maturity
 Decline

Marketers need to innovate and improve the product, especially during the decline phase. The
goal is to stand out from competitors and create strong brand value.

2. Price

Price is the amount customers pay for a product. It plays a big role in determining sales and
profit. Even a small price change can affect:

 Demand
 Sales
 Overall strategy

Companies must consider:

 Competitors’ pricing
 Discounts
 Customer location
 Payment terms

Choosing the right price helps the business survive and grow.
3. Place

Place refers to where the product is sold and how it reaches customers. It is also called
distribution.

The product should be available:

 In locations where target customers are present.

 Through the right channels like online stores, retail shops, or distributors.

A good placement strategy ensures easy accessibility to customers.

4. Promotion

Promotion means spreading the word about the product and encouraging people to buy it. It
includes:

 Advertising
 Sales promotions
 Personal selling
 Social media marketing
 Email campaigns

Promotion is often the costliest part of the marketing mix, but it is necessary to attract
customers and create awareness.

The 7Ps of Marketing (Extended Marketing Mix)

As marketing evolved, three more Ps were added to the original 4Ps. These are important
especially for service-based industries.

5. People

People include:

 Employees
 Customer service agents
 Sales staff
They directly interact with customers and influence their experience. Happy, trained, and
motivated employees lead to better customer service and satisfaction.

6. Process

Process means the way a service or product is delivered. A business must:

 Have well-defined steps.

 Minimize errors.
 Improve speed and quality.

Efficient processes reduce cost and increase customer satisfaction.

7. Physical Evidence

Since services are intangible, there must be proof that the service was delivered. This can be:

 Branding (e.g., logos, uniforms)

 Receipts
 Reviews

Example: Seeing the McDonald’s logo makes you think of fast food. That’s physical evidence in
marketing.

Example of Marketing Mix – Honeycomb Cereal

A good example of the marketing mix is Honeycomb, a cereal company.

 Initially targeted older people for a healthy diet.

 Later, they targeted young people who also need healthy eating.
 They used marketing mix effectively:
o Product – Healthy cereal
o Price – Affordable
o Place – Available in stores and online
o Promotion – Ads and campaigns for different age groups

Using these strategies, Honeycomb became a market leader in cereals.

Types of Products in Marketing
1. Tangible Products: Physical goods like mobile phones, cars, etc.
2. Intangible Products: Things you can't touch like insurance or music files.
3. Services: Intangible but involve customer interaction like salon services or delivery.

Each product type needs a different marketing strategy.

Importance of Marketing Mix

The marketing mix is important because:

 It helps create a strong marketing strategy.

 It connects product, promotion, price, and place effectively.
 It aligns with other marketing concepts like segmentation, targeting, and positioning.
 All 7Ps work together to ensure a business succeeds in a competitive market.

3) Consumer Behaviour

Introduction

Consumer behaviour refers to the actions and decisions made by individuals or households
when they buy, use, and dispose of goods or services. It helps understand why and how
consumers choose one product over another.

Importance of Consumer Behaviour in Marketing

Understanding consumer behaviour is very important for marketing. It helps marketers know:

 What people buy

 Why they buy it
 When and from where they buy it

This knowledge helps in:

 Targeting the right audience

 Delivering the right message
 Choosing the right time and place
Why Studying Customer Behaviour Is Important
1. Meet Customer Needs: Helps companies design better products/services.
2. Improve Communication: As trends and preferences change, businesses can update
their messages.
3. Increase Retention: Satisfied customers are more likely to return.
4. Boost Loyalty: Happy customers stay loyal and even recommend to others.
5. Better Inventory Planning: Knowing demand helps in stock planning and resource
management.
6. Increase Sales: Understanding what customers want improves chances of making a sale.

Types of Consumer Behaviour

Marketers must know the different types of consumer behaviour to create better strategies:

1. Complex Buying Behaviour

 Happens when the purchase is expensive or risky

 Consumers do a lot of research and compare many brands
 Example: Buying a car or house

2. Dissonance-Reducing Buying Behaviour

 Happens when the product is costly, but not many options are available
 Customers feel doubt or confusion after buying
 They seek confirmation (e.g., from reviews or friends)
 Example: Buying a washing machine

3. Habitual Buying Behaviour

 Happens with routine purchases

 Consumers buy out of habit, not much thought
 Brand loyalty plays a role
 Example: Buying milk or toothpaste

4. Variety-Seeking Buying Behaviour

 Customers want to try something new

 Involves low-cost products, and people switch brands often
  Example: Trying different flavours of chips

How to Study Consumer Behaviour – Data Collection Methods

To understand customers better, companies use these research methods:

1. Surveys

 Done online, by phone, or in person

 Help get quantitative data about customer likes and dislikes

2. Focus Groups

 Small groups of people discussing a product

 Give qualitative insights into opinions and feelings

3. Interviews

 One-on-one conversations
 Provide deep understanding of a customer’s attitude

4. Observations

 Watching how customers behave in real-life settings

 Helps understand natural buying habits

5. Experiments

 Changing one factor (like price or packaging) and seeing the effect
 Helps know what influences buying decisions

6. Data Analysis

 Analyzing data from:

o Sales reports
o Website clicks
o Social media trends
 Shows patterns in customer behaviour
Benefits of Data Analysis in Consumer Behaviour
 Helps predict demand
 Makes it easier to design better marketing strategies
 Can suggest best prices, promotions, and offers
 Helps in segmenting customers
 Improves decision-making for product launches or updates

4) SELLING PROCESS

The selling process is the step-by-step method that a salesperson follows to turn a potential
customer into a buyer. It helps in building trust, solving customer problems, and increasing sales.
This process ensures that both the customer and the seller are satisfied with the deal.

There are 7 main steps in the selling process:

1. Prospecting
2. Preparation or Pre-approach
3. Approach
4. Presentation
5. Handling Objections
6. Closing
7. Follow-up

Let’s look at each step in an easy and clear way.

1. Prospecting

Prospecting is about finding potential customers. These are people or businesses who might
need your product or service.

 You try to find out who needs your product, whether they can afford it, and if they are
likely to buy.
 This is like making a list of people who are most likely to become your customers.
 Example: A person selling laptops may target college students or IT professionals.

2. Preparation / Pre-approach

Before you talk to the customer, you need to prepare well.

  Learn about your customer – what they like, what they need, what problems they face.
 Be ready with product details, prices, competitor comparisons, and benefits.
 Prepare your sales pitch and practice answering possible questions.
 This step makes you confident and ready for the meeting with the customer.

3. Approach

This is the first interaction with the customer. Here, you try to make a good impression.

 Greet the customer politely and build a connection.

 Ask friendly and relevant questions to understand their situation.
 Make the customer feel comfortable.
 Example: If you sell skin care products, ask: “What’s your current skin care routine?” or
“What skin problems do you face?”

4. Presentation

Now it’s time to show your product or service and explain how it can help the customer.

 Show the benefits and features of your product.

 Use examples, visuals, or demonstrations to make it clear.
 Focus on how your product solves the customer’s problem.
 Example: If a family is looking for a home, show them a big house in a safe
neighborhood with schools nearby.

5. Handling Objections

After your presentation, customers may ask questions or raise doubts. This is normal.

 Listen carefully to their concerns.

 Give clear, polite, and honest answers.
 Try to understand the real reason behind their hesitation.
 Example: If a customer says, “It’s too expensive,” you can explain the value and offer a
discount or payment plan.

Handling objections helps to build trust and move the deal forward.
6. Closing

This is the step where you finalize the deal and ask the customer to make the purchase.

 Make sure the customer is satisfied and understands all the terms (like price, warranty,
return policy).
 Be direct and polite: “Shall I place the order for you?”
 You may also offer add-ons or upgrades to increase the sale.
 Example: If someone is buying a mobile phone, offer them a protective case or extended
warranty.

Always say thank you after the purchase and stay in touch.

7. Follow-up

This step comes after the sale is completed.

 Make sure the customer is happy with the product or service.

 Call or message to ask if they have any issues or need help.
 This helps build customer loyalty and repeat business.
 A happy customer may also refer your product to others.

Importance of the Selling Process

 Helps increase sales by turning interested people into buyers.
 Builds strong customer relationships.
 Helps the salesperson stay organized and confident.
 Makes sure the customer is satisfied and loyal.

5) Predictive Analytics for Customer Behaviour in Marketing and Sales

1. Introduction to Customer Behavior and Analytics

Today, with the rise of digital tools, businesses are able to understand their customers better than
ever before. Customer behavior analytics helps companies study how customers interact with
their products or services.
  It helps businesses make better decisions by predicting what customers want.
 These analytics also guide companies in creating personalized advertisements and
offers.
 The main aim is to improve the customer journey – from discovering a product to
purchasing it.

2. Understanding and Predicting Customer Behavior

To predict what customers may do in the future, companies use special tools known as
Customer Behavior Analytics Platforms. These platforms collect and analyze customer data to
help companies:

 Understand how customers interact with their business.

 See patterns in behavior, such as what products are being browsed or bought.
 Use this information to predict future actions – like what the customer might buy next.

These platforms can be part of a company’s CRM (Customer Relationship Management) or

marketing suite and come in various forms such as software, mobile apps, or cloud-based tools.

3. Digital Tracking of Customers

Digital tracking means using modern technology to observe where and how customers behave.
Two common techniques include:

 Geofencing: Setting a virtual boundary around a location (like a shop). When a customer
enters that area, they can receive notifications or promotions.
 Geotagging: Adding location information to digital content like photos and videos.

4. Behavioral Segmentation

Behavioral segmentation is dividing customers into groups based on how they behave. For
example:

 Frequent shoppers
 Big spenders
 Occasional buyers

This allows companies to target the right message to the right people.
Examples:

 Offering discounts to loyal customers.

 Sending reminders to those who abandoned their cart.

This method improves the chances of sales and customer satisfaction.

5. Types of Consumer Behavior

Here are three important types of consumer behaviors companies analyze:

1. Purchase Behavior – What the customer buys and how often.

o Includes demand, retention, and recall of products.
2. Usage Behavior – How the customer uses the product.
o Helps improve product design or instructions.
3. Post-purchase Behavior – Customer feelings after buying a product.
o Positive experience → Loyalty
o Negative experience → Attrition (customer leaves)

6. Predictive Marketing Analytics to Boost Sales

Predictive analytics uses data and tools to forecast what might happen next. It involves:

 Data Mining
 Statistical Models
 Machine Learning

These methods analyze past data (like purchase history, region, and behavior) to:

 Predict future purchases

 Identify best customers
 Help marketers plan targeted campaigns

7. New Customer Acquisition

This is a method of finding new customers who are similar to existing loyal customers. For
example:
  A business can use tools like Facebook Lookalike Audiences, where they upload the
email list of their best customers, and Facebook shows ads to similar people.

This increases the chance of reaching high-potential new customers.

8. Audience Segmentation with Predictive Analytics

Predictive analytics can help decide whether you should use:

 Demographics (age, gender)

 Interests
 Firmographics (company size, industry)
 Behavior

By using the right segmentation, marketing becomes more effective and focused.

9. Using CRM Data for Growth

CRM (Customer Relationship Management) tools store a lot of useful information. This data can
be used to:

 Understand what’s working in your sales process.

 Find areas that need improvement.
 Identify good customers and those at risk of leaving.

With this, companies can:

 Create better strategies

 Improve customer experience
 Boost sales performance

10. Sales Forecasting

Sales forecasting is the process of comparing expected sales with actual sales. This helps in:

 Identifying gaps in revenue

 Adjusting sales strategies
 Tracking individual and team performance
CRM tools offer customizable reports to support accurate forecasting.

11. Sales Pipeline – From Lead to Closure

The sales pipeline is a visual representation of where each deal stands in the sales process.
Benefits include:

 Easily check the stage of a deal.

 Track past conversations and follow-ups.
 Understand how many deals are active and how close they are to being closed.

Important metrics:

 Deal stage progression

 Time to close a deal
 Average deal size
 Stalled deals (where deals are stuck and not moving)

These insights help teams stay organized and meet targets.

5) SALES PLANNING

What is Sales Planning?

Sales planning is the process of creating a strategy to help the sales team reach their targets and
increase company profits. It includes setting clear goals, identifying potential problems,
understanding customer needs, and creating a step-by-step action plan to reach sales goals.

A sales plan typically includes:

 Past sales performance

 Sales risks and market conditions
 Target customers
 Methods for finding new customers and closing sales

Why is Sales Planning Important?

Sales planning is important because it:

 Helps sales teams stay focused on important goals

 Prepares the team for market changes or unexpected challenges
  Makes sure everyone knows their responsibilities
 Allows better use of resources and time
 Ensures the business adapts to market changes

Six Key Parts of a Good Sales Plan

1. Situational Analysis
o Analyze the current market using data and trends.
o Understand customer behavior, market risks, and opportunities.
o This helps identify what is working and what needs improvement.
2. Set Objectives and Goals
o Clearly define what the company wants to achieve.
o Examples of goals:
 Increase monthly sales
 Improve brand awareness
 Reduce costs
 Increase the number of leads or customers
3. Create a Strategy
o Assign tasks based on team member strengths.
o Make sure the sales strategy aligns with company finance and operations.
o For example, a team member good at social media may handle that channel.
4. Set a Budget
o Decide how much money will be spent on the sales activities.
o Plan how the money will be used and ensure it stays within limits.
5. Communication and Team Engagement
o Clearly communicate goals and tasks to the sales team.
o Keep all stakeholders (other departments, managers) involved.
o Ensure everyone is working toward the same target.
6. Set Controls and Measurements
o Decide how to measure success (e.g., sales growth, number of deals).
o Monitor progress regularly and make adjustments if needed.

Steps in Implementing a Sales Plan

To successfully implement a sales plan, follow these five major steps:

Step 1: SWOT Analysis

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It helps analyze:
  Strengths and Weaknesses (internal to the company)
 Opportunities and Threats (external, from market/competitors)

Example: If your company is good at digital marketing (strength), but has slow customer service
(weakness), you need to plan accordingly.

Step 2: Set Sales Objectives

 Decide how much revenue or how many sales you want to achieve.
 Use past sales data to set realistic targets.
 Define goals for the whole company and each sales team or region.

Step 3: Develop a Sales Strategy

 Plan how you will reach your customers.

 Choose your communication style, marketing channels, and tools.
 Example: Use email marketing, social media, or direct calls.

Step 4: Decide on Sales Budget

 Plan how much you’ll spend on advertising, tools, salaries, etc.

 Use resources wisely and make sure spending helps reach goals.

Step 5: Define Measurement Metrics

 Metrics are numbers that show how well the sales plan is working.
 Common metrics include:
o Monthly revenue
o Number of sales closed
o Number of customers
o Average deal size
o Qualified leads

Metrics help in making better decisions during and after the execution of the sales plan.