Analysis and Strategy - Two Killing Forks
Every startup is aiming to be the next Flipkart, being a strategic builder, I always put emphasis on situation analysis - Consumer, company, competitors and collaborators; STP - Segmenting , targeting, positioning. Marketer should always catch the pulse of consumer characteristics & trends, resources of the company, current and potential Competitors and the Context or environmental factors. To execute strategy or analysis, you do not need to be a fire shot-man, it's not thrilling but indeed much more passionate. Here is a simple e.g. of strategy development. Scenario- Being a COO/ CIO/ CMO, you may want to execute something crazy for Big data analytics, increase revenue drastically and you are unaware about how to kick off.
Step 1: Market Segmentation - It is a process of identifying a group of people similar in one or more ways, based on a characteristics and behaviors. Final goal is to minimize variance within groups and maximize variance between groups. In Big data case, select a right geography.
Step 2: Target Market Selection - Select segments of the market to offer products and services. Reflect who can we most efficiently and effectively establish a relationship with better than our competitors?
In this case of Big data, your target market would be CTO's, CEO's, Engineering Leaders of Analytics and E-commerce product companies. Push your Market research team to get them in your list.
Step 3: Positioning - How your product/company is perceived in the hearts and minds of your customers? Price leader/Innovator/Fashion leader/ Quality/Service? Think on What associations come to consumer mind.
It's all about the proper execution without under estimating the basics of Philip Kotler. To the fresher folks, I would suggest to take a dig on Analytics, may be you are the next Uber or Flipkart.
Harshal is a Manager at Niyuj Software to manage IT Business intelligence and presales. Over the years, he's driving verticals of business analytics and marketing such as Market research analysis, Marketing strategy building, Client acquisition, Demand generation, Technical presales, Segment specific Go-To-Market strategy development and execution, Corporate branding campaigns for IT product and service engineering companies. He was associated with Wipro as a Consultant for longer span. He did his Engineering in CS and Master's from Symbiosis in Operations.