Marketing Strategy Plan For Mba-ab

MARKETING STRATEGIES FOR MBA-AGRI BUSINESS AT SIIB

Submitted by: Susrita Sen PRN: 09020242036 Shiraj Sherasia PRN: 09020242039 Subject: Marketing Management MBA-AB; 2009-11 Symbiosis Institute of International Business, Pune

INTRODUCTION Indian agriculture faces numerous challenges with rapidly changing business environment, pace of technological change, globalization, competitive environment and changing role of government. These challenges will place unparalleled demands on the capabilities of tomorrow’s managers. SIIB is one of the few management schools in India, which offers Masters in Business Administration in Agribusiness Management (MBA-AB) to prepare managers, business leaders and entrepreneurs in food and agribusiness sector to respond to the challenges faced by the sector. The Masters in Business Administration in Agribusiness Management (MBA-AB) is a full-time two year residential programme specially designed to prepare students for careers in management related to agriculture, food, agri-business, rural and allied sectors of the economy. What makes this sector-specific programme special compared to many other agribusiness management programmes is that it is firmly rooted in SIIB’s “management” culture and proficiency as opposed to either technical or economic-based backgrounds and cultures present in other programmes The main objective of the programme is to develop young men and women as competent professional managers for agriculture, food, rural, and allied sectors. The programme caters to the needs of enterprises serving these sectors, both domestic and international. The programme specifically attempts to: • • •

Equip students with requisite knowledge, skills, and attitudes for managerial decision making and implementation in the unique context of agricultural enterprises; Encourage entrepreneurial spirit in students to make them effective change agents in the agricultural enterprise sector; Develop in students capabilities to become leaders and nurture in them a commitment for integrity and ethics informed by social purpose.

The programme prepares students for managerial and entrepreneurial careers in enterprises serving or dependent on agriculture and allied sectors. These enterprises may be engaged in activities such as: • • •

Production and Marketing of Inputs such as seeds, fertilizers, pesticides, farm machinery and equipment, livestock feed, irrigation, and credit; Production, Procurement, Processing, and Marketing of Output such as agriculture (includes crops, livestock, fisheries, forestry, agro forestry, horticulture, dairying) marketing, agro processing, and food processing; Providing Services to Agriculture such as export and import, rural banking, financing agri projects, insurance, logistics, water management, research and development, and rural energy.

Key SWOT Questions STRENGTHS What advantages do Agri Business has? What do we do better than anyone else? What unique selling point do we have access to? What do people in the market see as our strengths? What factors mean that we "get the quality"?

WEAKNESSES What could we improve? What should we avoid? What are people in market likely to see as weaknesses?

OPPORTUNITIES Where are the good opportunities facing you? What are the interesting trends in today's market? What are the changes in education pattern and markets? Changes in government policy related to our field.

THREATS What obstacles do we face? What is our competition doing? Could any of our weaknesses pose a seriously threat?

SWOT ANALYSIS Strengths: Infrastructure in Place: The institute is well equipped with the pre requisite infrastructure for the Agri business course. More over it shares campus with two more management institutes (SCMHRD & SCIT) hence there is sharing of resources which enhances the infrastructure. Location is Highly Suitable: Being in the most industrialized areas as well as the hub of agriculture, the institute has an advantage as it can not only be in touch with the recruiters but also reach to the bottom of the pyramid. Very Focused Management and Staff: The staff and management is highly motivated and focussed hence imparting nothing but the best to the students and hence equipping them with the best. Excellent Reputation: Symbiosis has an excellent reputation as an international university hence proving its success in imparting quality education and moulding students as perfect managers. Latest and Industrial Integrated Course Structure: The course structure is frequently updated and revolves around industrial requirements. The entire focus is towards the industry needs and demands hence backing up the students and preparing them to face the challenges in the real world of agriculture. Optimal Industrial Exposure: SIIB sends students for summer trainings into the Agricultural allied Industries, Banks etc to enable them to get a first hand experience in the industry and hence enables students to apply theory into practical. Expert Renowned Permanent Faculties and Experienced Visiting Faculties: SIIB is loaded with excellent teaching force. It has a team of dedicated qualified and experienced permanent and visiting faculties. It also arranges guest lectures by inviting people from the industry to conduct lectures an seminars. Diversified Background: Students from various fields of Agriculture and allied disciplines (fresher as well as people with work experience) like • • • • • • • • •

Agriculture Horticulture Veterinary Science Botany Zoology Engineering Biotechnology Food Technology And others

Weaknesses: Focus may be too narrow: The programme puts major importance and focus to agriculture industries. However it should expand its vision and try to focus on other industries as well. The retail industry for example. It’s a booming industry in India and is still growing at a rapid pace. Retail does not only consists of fashion but FMCG and Food products as well. Lack of Awareness amongst prospective recruiters: The course in Agri Business is not yet very known in the market. Since SIIB was established for International Business, people fail to link International Business with Agri Business. Hence we need to spread market awareness and position the programme. Recruiters may opt for students from other institutes like IIMs and XLRI which are more recognized in the market and known to be prestigious institutes. Opportunities: Market segment is poised for rapid growth: There are not many institutes providing MBA in Agri Business. However the agriculture market is growing and the demand for trained professionals are at a rise. Potential to diversify into related market segments: Related markets offer great potential. Threats: Lack of Awareness amongst prospective recruiters: Not many are aware of the course at SIIB. Creating awareness in the market where major players like IIMs and XLRI already exists is a real challenge. Competition: There are several other institutes in India providing Post Graduation Education in Agri Business. Some of these institutes have a better ranking and are more known as compared to SIIB. Some of these institutes are: 1. 2. 3. 4. 5.

IIM, Ahmedabad IIM, Lucknow MANAGE, Hyderabad IRMA, Anand XLRI, Bhubaneshwar

Not only these, graduates with BSc Agriculture and other related fields also pose a threat to our students.

AGRI BUSINESS MARKETING STRATEGIES The American Marketing Association defines marketing as "the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." Marketers use an assortment of strategies to guide how, when, and where product information is presented to consumers. Their goal is to persuade consumers to buy a particular brand or product. Successful marketing strategies create a desire for a product. A marketer, therefore, needs to understand consumer likes and dislikes. In addition, marketers must know what information will convince consumers to buy their product, and whom consumers perceive as a credible source of information. Some marketing strategies use fictional characters, celebrities, or experts (such as doctors) to sell products, while other strategies use specific statements or "health claims" that state the benefits of using a particular product. Effective marketing strategies often consist of a combination of several marketing tactics that work together in a synergistic way to establish ones brand, reduce sales and create interest and desire for ones product or service. Each business is different, in terms of which marketing strategies or combination of marketing strategies would be the best to use, but here's an attempt to lay down some of the approaches. Fast Start: Our Goals Competition Guidelines, Industry Contacts Market Analysis: Market Size, Potentials, Trends Customer Profile, Market Segments, Needs Competitive Analysis (SWOT, positioning, pricing and promotion) Other Key Factors Impacting the Market – Macro Environments (technological, political, economics, etc.) Marketing Proposition: Key Planning Assumptions, Important facts and information drawn from market Analysis that confirm the existence of a marketing opportunity Objectives/Goals Strategy Statement, Identification of Opportunity Within Specific Market Segments that Achieve Your Objectives Action Plan/Tactics: (Tactics for Executing the 4Ps) Product Positioning, Pricing Strategy, Distribution Strategy (Place), Promotion Strategy (Communication Plan, Execution Calendar)

Add and Retain Recruiters Add and Retain Recruiters

Institute Gain recruiters confidence

Existing

Recruiters

New

Business Strategies Basic Follow-ups and Relations

Penetrate Awareness

Multiple Ad Format Placement Records

Multiple Ad Format Placement Records

Maintaining Relations

Business Meets and Seminars

Excellent Reputation

Internal

Student Profile

Expert Renowned Faculties

Location, Infrastructure and Management

(Permanent & Visiting

Eminent Board of Directors and Governing body

Gain Recruiters Confidence. Customer indecisiveness, scepticism, indifference, or confusion is among the top sales killers. It's up to the institute to project an image of experience, quality, dependability, and excellent students, ready to perform, for recruitments in order to win their confidence. Penetrate awareness of your target audience by using marketing strategies, which in many cases would include a well-planned dedicated website for Agri Business Programme at SIIB. Stated simply: the more ways the public hears about you, the better your chances are for achieving brand recognition and credibility. Effective marketing strategy is partly the result of exposing companies to our name and our selling points (unique selling proposition) as often as possible, in as many ways as possible. Sincere enthusiasm, in both print and in person, is contagious. Since we deeply believe in our students and institutes capability, then our prospects will pick up on that passionate attitude. Our words are important, and can have an even greater impact on how we influence and persuade companies. Instil in our prospects good feelings about our institute, our mission and vision. Accomplishing that is important in the marketing process and focusing attention on programme features and benefits.