Strategic marketing-key to success in changing business scenario inIndia

摘要

Globalization, liberalization and privatization, together withrapid strides made by information technology, have brought intensecompetition in every field of activity. Indian industry at present isdazed, confused and apprehensive. The marketing complexities haveincreased, product life cycles have shortened and the market is moreturbulent than ever before. Indian industry is desperately looking forstrategy and action plans that would ensure its survival and growth. Inthe fast changing socio-economic environment the consumer is truly amoving target today. Sharp product segmentation based on consumerinsights is highly desirable. The challenge for the marketers is to usethe tools of branding and pricing at their disposal to ensure that themost valuable package in the customer's perception is represented by hisbrand. The cooperative and collaborative relationships with customersare the most prudent way to keep track of changing expectations. Theclassification of services, customization in order to regain lostcustomers, differentiation strategies to command premium price andgastronomy strategies to provide a great deal of interaction andpersonalization to consumers, are amongst the prominent strategies,which could be used in customer relationship management. The marketresearch should be visualized as a series of building blocks ofinformation necessary for strategy development. The Indian marketersmust give emphasis upon strategic marketing of their products/servicesin the changing business scenario