Marketing Is Strategy by Haidar Shbeeb
Business and Management
Submitted By hshbeeb
Marketing is Strategy by Haidar Shbeeb
I personally believe that every business owner should develop a written guideline that sets forth the business’s marketing strategy.
A good marketing strategy for example, provides specific goals that include: * A description and an understanding of the intended target. * The competitive market that the company will compete in. * The distribution channels. * The unique positioning of the company and its products versus other competitors. * The reasons why it is unique to buyers/consumers. * The price strategy versus competition. * The spending strategy with advertising and promotions. Another important aspect to look at is the overall company marketing strategy: * What is the definition of the current business? * What is the business’s position? Is it a leader, challenger or follower? * What is the brand, business personality or image that is desired in the minds of buyers/consumers?
In order to determine what marketing strategy to use, business owners need to determine the fundamentals of marketing (The 4P’s):
* Price: is based on the type of service, competitors and the target’s spending power. * Product: What sort of product or service is the business? * Place: Is it convenient or enough for the consumers? * Promotion: What sort of advertising techniques or options are available to use?
Different types of Marketing Strategies:
* Affinity Marketing. * Alliance Marketing. * Ambush Marketing. * CTA Marketing. * CRM Marketing. * Cloud Marketing. * Community Marketing. * Content Marketing. * Cross-media Marketing. * Database Marketing. * Digital Marketing. * Direct Marketing. * Diversity Marketing. * Evangelism Marketing. * Freebie Marketing. * Free Sample Marketing. * Guerrilla Marketing.
We can use any of the listed marketing strategies depending on the type of business, intended target (including the demographics & their spending power), and the current strategies of other competitors.
Please note that:
Detailed Marketing Strategies will be discussed in the meeting if needed.