marketing strategy geta

Marketing Strategy for Geta corporation

By: Raveesh Nagori | Anubhav Khanna

Akshay Rao | Deepak Gupta Srividya Josyula | Mehtab Ahluwalia

Marketing Objectives and goalsShort term: To book order for Rs.20 lakh by

February 1998.Long term:To ensure a growth in sales of a

minimum of 50 % per annum over the next three years.

Marketing strategy for Geta Corporation

Marketing

segmentation and

Targeting

Market Differentiation and

positioning.

Integration of Marketing Mix.

Marketing

Management:

Analysis,

Planning,

Implementation

and control.

Geta

Market segmentation and targeting

IMI

Market segmentation and targeting

IMI

Market targeting

B

High business potential

+ Low acceptance

60

C

Low business potential +

Low acceptance

100

A

High business potential

+ High acceptance

40

Market differentiation and positioningA diverse pedagogy incorporating

a practical approach to learning and not merely focusing on academic learning.

Integration of Marketing Mix

Place

PromotionPrice

Product

Product- Analysis and decisions

STRENGTHS

Price- Analysis and decisions

Analysis:-Strengths: No competition from existing as it is

the first time the product is manufactured in india.

No competition in terms of technical parity as know-how could only be imported from Tedar.

Price- Analysis Opportunities: Hhj

Threats : Competition possible from companies

producing products serving similar purpose.

like Grinding mill linings,Screen decks, Wear components made of cast iron, Nickel Mild steel, Manganese steel, wood.

Price- Analysis and decisions

Analysis:-Strengths: No competition from existing as it is

the first time the product is manufactured in india.

No competition in terms of technical parity as know-how could only be imported from Tedar.

Product- Analysis and decisions

STRENGTHS

Promotion: Analysis and decisions Analysis:A )The objective of the promotional activities were: Awareness building. Comprehensive/ interest building. Conviction building. Establish company and product recognition and reputation. Enquiry generation. Reach persons inaccessible to sales force.

B) Target audience: Mining, cement, Aluminium, Fertiliser; Consultant in these areas; original equipment manufacturers.

C) Promotion methods: Advertising (Product catalogues ,direct mail, Professional journals, National/ regioanl dailies) and Personal selling.*Sales promotion was not to play a major role in promotion activities.

*Personal selling would immediately follow the launch of advertising campaigns

Promotion decisions:

Marketing Plan implementationThree phases:A ) October’97- March’99: All potential buyers be contacted and

developed to a stage where they either placed an order or it become clear that no businesses would be possible at that stage.

B ) April’99 – March 2000: Buyers who have had successful trials in changing over in a large

way to rubber. Motivation for also using other new products. Convincing earlier unconvinced buyers. Sales efforts to continue.

C ) April’00 onwards: Consolidation of the market. 70% of the potential buyers expected to have tried the product. Efforts in those segments where no success possible.

Comparison Vs other B Schools

B-School

Course Fee (Inclusive of all

charges)IIM A 13.7IIM B 13IIM C 13.5IIM L 13FMS 0.21

SPJIMR 12IMT 13

Marketing Management-Analysis,Planning, implementation and control.

1) Intellectual capital-

  a) Research papers- Find out

  b) No of PhDs-  40

2) Access to digital libraries

        EBSCO,ABI etc

3) A highly capable Director General whose arrival has increased brand

value of IMI.

4) Located in South Delhi. Lots of opportunities for summer placements

and Live projects.

5) Large database of all its alumni and has published the first edition of the

IMI alumni Directory

        Refer http://www.imiachievers.com/alumni/

6) Good Student -Faculty Ratio (360/40)

7) Student and Faculty Exchange Programmes(18 listed on IMI site).

Strengths:

Weaknesses

1) Not very well known. Low brand recall value.

2) Inadequate Infrastructure (hostels, space etc)

3) Does not have very good network linkages in industry.

4) They don't have an entrepreneurship incubation cell.

5) Relatively high fees as compared to other B-Schools.

Opportunities

` 1) Opportunities to expand vertically at the present campus in order to take advantage of the present location thereby expanding.

2) Extending alumni linkages.

3) Extensive brand building initiatives which can only get better.

4) Attract better quality of students through a better marketing awareness programme.

5) Creation of more MDP’s utilizing IMI’s high intellectual capital.

Threats

1) Competition from B schools ever increasing.

2) Due to opening of two new campuses, quality of students may go down.

3) Lack of infrastructure facilities may force prospective students to other schools.

4) Possibility of acquiring a “commercial” mind set by just focussing on expansion and opening new campuses.

Marketing StrategyMarket Selection/Segmentation: Students from any discipline such as Engineering,

Humanities, Commerce or Economics, Medicine or any other branch of education to encourage diversity. Candidates with relevant work experience as also fresh graduates.Then final shortlisting through the scores of the CAT,GD and PI.

.

Differentiation:

Marketing Mix

Product:Place: The location of IMI is a strategic advantage as it

is located in South Delhi and is close to Gurgaon where a lot of the corporates are located.

Promotion:

Encouragement to participate in as many B School competitions in India in order to establish image of the college.

To make the publication of the college magazine monthly and expand its scope and reach to corporate India.

Leveraging Dr Pritam Singh’s experience in building up brand image of IMI.

Comparison Vs other B Schools