Professional Documents
Culture Documents
Marketing Strategy
Marketing Strategy
A
marketing strategy
i s a p r o c e s s t h at c an a l l o w an
o r g a ni z a t i o n t o c o nc e nt r at e i t s limited
resources on the greatest opportunities to
increase sales and achieve a
sustainablecompetitive advantage.
A marketing strategy should
be centered around the key conceptthat
customer satisfaction is the main goal.
a n d f i na l i z i n g t he r e ma i n i n g
c o mp o n e n t s o f y o ur ma r k e t i ng p l an
ma y s e r v e a s a r e al i t y c he c k: D o y o u
h a v e t h e r e s o ur c es n e c es s ar y
t o accomplish your objectives?Th e
ma r k e t i ng s t r a t e g y s e ct i on o f y o u r
p l a n o u t l i n e s y ou r g a me p l a n t o
a c hi e v e yo u r marketing objectives. It
is, essentially, the heart of the marketing
plan. The marketingstrategy section should
include information about:
•
Product - your product(s)and services
•
Price - what you will charge customers for
products and services
•
Promotion - how you will promote or
create awareness of your product in
themarketplace
•
P l a c e ( d i s t r i b ut i on ) - h o w y ou w i l l
b r i ng y o ur p r o d u ct ( s ) t o g et h er w i t h
y o u r customers.
LIMITATION OF MARKETING
STRATGY
•
leads to faulty marketing decisions based on
improperly analyzed data
•
creates unrealistic financial projections if
information is interpreted incorrectly
PRICING STRATEGY
Having defined the overall offering objective
and selecting the generic strategy one
mustdecide on a variety of closely related
operational strategies. One of these is how one
will price the offering. A pricing strategy is m
ostly influenced by the net income. There aret
hree basic strategies one can consider
A SKIMMING STRATEGY
A MARKET PENETRATION
STRATEGY
Where near term income is not so
critical and rapid market penetration for
eventualmarket control is desired, then one