Strategy To Create Win And Dominate Market In Internationally

1

Dr Leow Chee Seng FBIH (UK), MIMM (Mal) MMIM (Mal), MIM‐CPT (Mal), MIHRM (Mal), CAHRP (Mal) BSc (Hons) UPM, MBA (UPM), DBA (UBI), PhD (USM) ( ) , ( ), ( ), ( ) Certified Stress Management (IACT, USA),  Certified Professional Trainer (MIM‐PSMB),  Certified E‐Commerce Professional (Mal) Certificate in Qualitative Research (USA),  Certificate in Homeopathy Medicine (Mal)

2

3

Program Outline g y What are the marketing challenges globally?   y How to create winning marketing practices?  H       i i   k i   i ?  y The element of competence marketing strategy  y Challenges of marketing in various industries y Overview of modern marketing strategy  y Current international marketing trends

4

Introduction  Introduction y There are three kinds of companies:  y those who make things happen;  y who watch things happen;  g pp y those who wonder what’s happened  y If we do not change our direction, we are likely to end  g , y

up where we are headed. (Old Chinese Proverb) 

5

Global Marketing Challenge  g g y Generation gap in marketing.  y Fails to recognize the changes  F il     i  h   h   y Powerful force  y Technology – digitalization  y Globalization  y Reshaping economics – Deregulation  y Privatization  y Knowledge Economics  y Economic Melt down  6

Are there winning marketing  Are there winning marketing p practices?  1. 2. 3. 4. 5.

Win through higher quality  Wi   h Win through better service h b   i Win through lower prices Win through high market share Win through adaptation and customization 

7

Are there winning marketing  Are there winning marketing p practices?  6. through continuous product improvement  7. Win through product innovation   Wi   h h  d  i i   8. Win through entering high‐growth markets 9. Win through exceeding customer expectations 

8

What constitutes a winning  What constitutes a winning g gy marketing strategy?  y Operational effectiveness and excellent is not a long 

tterm sustainable strategies in the market because    t i bl   t t i  i  th   k t b   other firms will soon catch up. (Prof Michael Porter) y Strong point of different from competitors’ strategies.  St   i t  f diff t f   tit ’  t t i   y Successful new strategies get imitated quickly by  t t i   hit t   strategic architecture.  y The great strategies – unique configuration                    that defy easy imitation.  h  d f    i i i  

9

Challenges that marketer face?  h ll h k f ? Branded • Store-based Manufacturers Retailers

Industrialbased Firms

10

Modern Marketing Strategies g g Improving their customer knowledge, customer  connection technologies and understanding the  customer economics.  22. Using more targeted media and integrating their  marketing communication to deliver a consistent  message through every customer contacts   message through every customer contacts.  .  1.

11

Modern Marketing Strategies g g 3. Conduct marketing strategies through marketing  visionaries 4. Reachable seven days a week, twenty‐four hours a day  and their 1 800 customer telephone number or by e and their 1‐800 customer telephone number or by e‐ mail  5  To identify the more profitable customers and to set  5. To identify the more profitable customers and to set  up different levels of service. 

12

N P di New Paradigm of Marketing f M k ti Printed Catalogs

Online Vendors

High Traffic Store

Entrepreneurial retailer

Pre-made designed

Customized Design

Product ways to exceed customer satisfaction

Imaginative ways to exceed customers 13

N P di New Paradigm of Marketing f M k ti Building market share

Building customer share

Identify profitability based on segment, individual customer customer, product, channel and g geographical g p units

Focusing on most profitable customers, products and channels

Transaction perspective

Loyalty building ti perspective 14

N P di New Paradigm of Marketing f M k ti In-house production Company employees

Outsourcing with virtual companies Sales person are franchisees

Mass TV Advertising

Online specialize magazine and news groups

Sustain competitive advantage through IP

Learn and change g rapidly. p y 15

What happen if your marketing  What happen if your marketing g g strategies do not change? 

16

17