In the proper development process commences with tactical planning. Strategic planning is the procedure of developing overall plan & approaches for the whole of organization. Under the strategic planning process assess & answering the following questions;
Where are we have now?
How do we make it happen?
Where are we heading?
Where would like to be?
How do we make it happen?
After that review entire planning process part by part sequential order. Those steps are;
Analyze Perspective and Strategic intention - where you want to be future
Reviewing mission assertion in conditions of rationale for lifestyle of the business and value of the business. Under this review process evaluates further Purpose, ideals, Competencies, Culture, Polices and Product
As a next step developing goals and aims for whole organization
Then carrying out the position audit by using SWOT examination techniques and identify gaps.
To fill up that the above gaps evaluating commercial strategic alternatives. Here generating the tactical options by answering the next question;
How to compete
Where to compete & approach to growth
As well as assessing options utilizing the pursuing criteria's acceptability (analyzing predicated on stakeholders goals, goals and their vitality), suitability (evaluating in relation with mission and strategic purpose) and Feasibility (in conditions of financial viability and risk)
There after completing that process start strategic implementation process. In such a stage do the followings ;
Draft operations ideas, structure and culture
Change (Use changes)
Implement Functional Strategies
Productions & procedure strategies
R & D strategies
Marketing strategies (Marketing blend, Segmentation, PLC research, MIS).
HRM (Personal planning, Desire, Appraisal)
Finance strategies (source of finance, investment)
Looking at actual performance
Review and control - (assessing the deviation from plan and make corrective activities based on that)
As final stage connect to the step called proper analysis.
How the marketing planning contributing to strategic development process can be seen in above mentioned step number 5 5. If the company is having several business, there are three type of strategies can be recognized those are;
Business and useful strategies
Corporate level strategies are concentrated;
Maximize talk about holders wealth
Increase the overall success company as a whole
Typically focused identifying overall propose of the business.
Decisions on mergers and acquisitions sell off or closure of business units.
Maintain marriage with key stakeholders of the business such as investors, administration and regulatory body.
Explore new market
Developing corporate and business image
Under the Business strategies developed for division in the bigger organization, that has a significant degree of autonomy basically responsible for developing and marketing their own products or services. Practical strategies mainly focused on collection of decision guideline of the in each of functional area.
In this circumstance Baja electrical department or business product (SBU) has draft a product marketing plan for "fans". Under that product marketing plan proper business device has analyze, create and developed ways of support the organization strategies in the every part. Such as profitability, market share, expanding corporate image by using corporate and business brand with the products. As a final conclusion
Can say Bajaj fans marketing plan has add significantly for the proper development process.
Appraise marketing plan of Bajaj fans with appropriate marketing aspect of marketing mix
Under the marketing plan of bajaj lover has considered all the facet of marketing mix component such product, STP process, price, place, and promotion).
2. 1. Product analysis
2. 1. 1. Product combine - It has developed to catch the attention of the customers (different segment). Those product mixture are Ceiling followers, TPW admirers (Table/ Pedestal / wall structure) and fresh air fans. Not only that under that they have developed different design like decorative and non attractive based on the section.
2. 1. 2. Brand Name - for the lover product category suprisingly low focused distributed by customers even bajaj admirers was not contained in the consideration set under their decision making process. That was major weakness. To eliminate that weakness they have come up with new strategies called umbrella branding (family branding)
2. 1. 3. Packaging - Company has modified their graphic on product packaging for complete product trend.
2. 2. Segmentation, concentrating on and placing (STP)
At earlier level company has implemented market marketing strategies. Company segmentation bases are price, quality and looks look. Predicated on that segmentation criteria's, they have released different product categories for every segment.
Price structured segmentation with sub brands the following;
Product category & Price
Fresh air fans
Aesthetics look founded segmentation
Company product position strategies is the fact benefit placement, Price & quality placement and performance founded placing revolutions per minutes RPS (speed, air conditioning).
2. 3. Charges analysis
Company maintains the cost based pricing plan. There major weakness of the charges having high margins for distributors. That has straight affected on the profitability because of high cost is incurred for vendors margins. To save lots of that cost company has began syndication of products by utilizing their own vehicles.
2. 3. Campaign analysis
Major marketing is television because of cable and satellite television penetration is very high. Mainly advertising on C & S stations such as superstar, Sony, Zee. Various kinds of TV commercial is rolling out air time (10, 20 & 30). These Television commercial teaching by using the several language.
Major communication subject matter is the fact that " Subse Tez"
Under the advertising they may have new product packaging strategies are incorporated with posters, POPs, Retailers or dealers, boards and other communication elements direct mail.
Followed different marketing recalling elements such as campaign team with braded t-shirts and caps, disperse leaflet for potential prospects on point of sales.
Used to market the product retailers word of mouth recommendation to improve the sales.
AS a move strategy thy used move strategies by arranging different contest among the customers, attractive pops, screen schemes.
2. 4. Place evaluation (Distribution)
There syndication strategies reduced by one level. Company straight distributes their products to the stores.
As well as they have developed separate distribution network sub current economic climate market portion.
At the same time promoting traders under pull technique to keep their loyalty, increase shop talk about and attract the customers.
Logistic is very strong 20 branches after sales service focuses on 200 franchise that is also increasing the sales capacity of the channel.
Identify the process of the growing and using brand personal information of Bajaj with further analysis of marketing segmentation, competitive analysis
To develop the brand identification company used major strategy is umbrella strategy conditioning the merchandise with commercial brand. That escalates the customer trustworthiness and dealers loyalty. At same time they are simply promoting by using move strategies both party customers and traders that is help increase the brand loyalty of dealers. Not only that they are employing Tv set commercial to speak the brand identity for the several market section that is on of the strategy which help to upgrade the top of mind brad recognition.
In terms market Segmentation Company has develop different market based on the price, quality and looks look. This also helps develop brand awareness of those market segments. Currently in market leading players are; Crompton, orient, polar, Khaitan, Usha. Current situation is degree of competition high that is certainly lowering margin of products because of earnings divided into the aforementioned major challengers. Bajaj market segmentation strategy is also assisting to face that competition. Due to all the above players are experiencing their own creation place as well as gained economies of level. Therefore major strategies that they have to be implemented develop the customer loyalty via product performance and after sales services. As well as Bajaj Company use the promoters to build up brand understanding among the customer by using top quality T - shirts and caps. Time such capacities don't have competitors to market their products.
Analyze the marketing capacities of Bajaj followers to utilize the existing technology e-marketing and e - business platform.
If the bajaj used e - marketing tools and techniques under this context of e - commerce where creating new circulation channel for the bajaj company as well as e - marketing is help to reach different customer portion on individual basis ( via email advertising campaign marketing) and corporate segment. Moreover the following benefit and advantage they can gain out of the e - marketing;
Can access wider rage of the market - because of penetration of internet and email usage is high. Therefore, in conditions of cost vs. profit, benefit is greater than cost, because of cost to reach suprisingly low. As example if the company developed websites by spending INR 150, 000 and guess that 1500 peoples gain access to monthly to site (150, 000 /1500 = 100) in the first moth cost is 100 Indian rupees. Month by moth that cost is reduced only thing that they need invest that capital for web site. That web sites offers adverting and online purchase service also can be place.
When online marketing is going to put it is well suited for corporate segment such as companies, building & housing companies. Online purchasing lessen time gap in purchasing and providing product. Aswell as it is minimizing the merchant margin which that they spending money on retail sales.
Online promotional campaign also can carry out by using e - marketing tools such as pop-up advertising, cross deals.
Disadvantage of e - marketing and e - commerce are complex failures and security issues.
By inspecting those cost & profit as well as benefits and drawback Bajaj Company apply new technology to boost their communication, sales and to beat your competition. As final finish bajaj has feasibility to make use of the new technology. In the future they can accumulate local and international corporate orders via web. That may deliver greatest gain for them. Therefore bajaj is in a position enough use the new technology under this circumstance.
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