marketing strategy geta
TRANSCRIPT
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