Thursday, 4 January 2018

Marketing strategies

Marketing strategies are a link in the overall strategies of operation and development. They concern the goals and ways for them to be achieve by companies. Marketing strategies are consistent with the general business assumptions. They refer to major and short-term (additional, changing) goals. They contain general guidelines for marketing activities.

Marketing strategies

Marketing strategies - what are they?

Developing a strategy plays a very important role in any business. Companies with marketing strategies can function more efficiently, are not expose to randomness - and consistently implement marketing activities allow to achieve better business results.

Companies that have develop marketing strategies know who their clients are, or products and / or services that offer the right way to respond to customers' needs and what they should do to make people buy from them - not from competitors. The strategy base on these data sets the path to the implementation of advertising and sales targets.
Many people confuse the marketing strategy with the marketing plan. Where is the difference? The marketing plan describes in detail how to achieve the set goals. Marketing strategies contain much more information about paths and goals.

Effective marketing strategies

The development of a good marketing strategy begins with a thorough analysis. It is worth paying attention to the strengths and weaknesses of the brand and the services and / or products offer. You should also analyze the target group (conducting market research or using online analytical tools) - get to know and understand potential customers and segment.

It is only on the basis of these data that marketing strategies are create that take advantage of the company's value, elements of competitive advantage and are tailor to the target group. A strategy base on a detail analysis significantly increases the chances of maximizing potential, but verification of its effectiveness should take place through regular verification of the adopte assumptions.

How to create marketing strategies?

If you already know what are the strengths and weaknesses of your business and what features of what you offer make you respond well to the needs of a group of recipients - you can get to the bottom.

5P Concept

You can create marketing strategies based on 5P concepts.

  1. Product / services: What do you sell? What features have your products and / or services? What makes the items in your offer better than what competitive companies offer?

  2. Price:  How much do your products / services cost? What is the ratio of these prices to the competition's prices? Are you going to fight to attract customers at the price level? What is your sales income?

  3. Place:  Where interest parties will be able to purchase your products / services? If you sell online - how will customers get to you? What will be the transport costs of the product? If you do not sell physical products - how will the turn of the returns run?

  4. Promotion: How will you encourage customers to buy? Will you introduce loyalty programs? Will customers be able to use the promotion? Who will they be direct to and how will you inform them?

  5. Peoples : Who is responsible for contact with the customer at every stage of the sales funnel? Who are these people? Are the employees responsible for customer service presenting the appropriate level? Will you introduce solutions that automate customer service?

Marketing strategies should be base on the company's key values and what it offers, while providing flexibility. The marketing strategy will allow you to use the strongest points and refine the weaker aspects. Do not waste time and do not spend money on ineffective advertising activities. Get to know your clients, highlight the values that will encourage you to buy and set the directions of action that will make you gain an advantage over the competition. Remember that marketing strategies are create to act in a more structure way and to achieve even greater profits.

No comments:

Post a Comment