Identify the State the

Research Profile the

business marketing
the market customers
goals goals

Develop
Test the strategies to
Use 7Ps of Profile the
ideas and support
marketing marketing
competitors
control
goals

Any actions that a company takes to attract an audience to buy the products or
services is marketing.
The objective is to deliver the value for customers with the long-term goals to
develop product value, built brand loyalty and increase sales.

Create the customer value and to achieve customer satisfactions

Establish relationships between customers and the business.
To maximize profits by increasing sales.
Make balance between revenue and organization’s profitability.
Stands the center in developing the organization’s branding, creating customer
loyalty and customer retention as another roles.
Responsible for survival and growth of the business by building good
reputation.
Marketing create the value by researching, developing, promoting, selling and
distributing the products or services that match with the need and want of
customers. The establishing relationship in marketing gives the customers the
confidence to want to try a new product in the market and how people
associate the organization’s products or services. Organization’s success is also
determined by setting the suitable price for the products to make sure the
balance between investment and profit. Building branding and customer
loyalty are important role of marketing. By doing so, the business can create
it’s brands to appear at the top of mind of customer to make sure
organization's competitiveness, at the same time this can help to protect the
business marketing shares. So, marketing department is one of the important
roles of the organization to achieve business success.
Corporate strategy is an overall plan to prefer and develop the markets by
setting the missions, visions and values of the business goals.
Corporate strategy aids the organization in functioning their visions and
missions by achieving their specific goals which are evaluates from an overall
perspective.
Marketing strategy is the SBUs’ or functional’s plan which allows the business
to accomplish the fundamental goals that support the corporate to achieve it’s
goals.
It is also a combination of organization marketing’s goals into a single
comprehensive plan by designing to promote the goods or services to make
profit.
Corporate strategy is border than marketing strategy and it mentions to the
overall strategy applied to guide a business.
They are coordinated each other to attract, maintain and enhance the value
from customers.
The corporate strategy assists the guidelines, directions and controls to the
marketing strategy to gain the competitive advantages.
The strategy from corporate level is set with values of organization and from
that, the sub-strategy of respective department or functional strategy
(especially Marketing) must be performed in align with set strategy from
corporate.
For example, corporate level decide to use market penetration strategy and
thus marketing strategies mainly focus on promotion and greater marketing
efforts.
The marketers inform their achievements and operationalizes to the
headquarters.
The marketing strategy is related with the corporate strategy to enhance the
organization’s goals and objectives.
A comeptitive strategy, a long-term action plan, is used by the company to
gain a competitive advantage over the competitors in the industry.
To gain and maintain the competitive advantages, the company must be able
to demonstrate a greater comparative rather than its competitors.
The competitive advantages and marketing strategy are linked with each
other. Because the aim of the marketing strategy is to deliver this advantage in
the market place.
To gain the competitive advantages and to be sustainable among the
competitive market, the different marketing strategy is used by the business.
Porter’s generic strategy is one of the marketing strategy that can use to build
competitive position and advantage.
Cost leadership, differentiation and focus are three main types of competitive
positions that can apply by business to achieve competitive advantages.
Every business can follow only one of the Porter’s Generic Strategy and if not,
they will stuck in the middle.
Porter’s generic strategies is one of the marketing strategies and fundamental
of the marketing strategy. These are differentiation, cost leadership and focus.
They are different based on the target customer basis and the differentiation
of the product or services provided. If the business can select the most
suitable position among Porter Generic strategy, it can support the
organization to be sustainable in competitive market and can lead competitive
advantages. (Kuiji, 2017) Marketer must define competitive scope, targeting
broad or narrow range of audience, or targeting specific market segment to
decide which position to choose.
Cost leadership
It is a type of competitve strategy which a company seeks large-scale
production efficiently, facilities, cur costs by using economies of scale, gaining
production experience to be more efficient in the production of products or
services rather than the competitors. Their goal is to be the low-cost in the
industry. It also focuses on the broad market that can drive the company’s
effciency and size. This strategy can lead to gain the market competiton,
market share more than the competitors. (Bruin, 2021)
Differentiation
This competitive strategy means that the company tends to distinguish the
unique products or services from the competitors. The company should make
the attractive market other than the competitors products, and need to have
the good research, innovation and development and capability to deliver the
best uniqueness and quality. The price does not matter if the customers want
to get the uniqueness and innovative products and they are only focusing on
the brand or products. It can also reduce the rivlary with competitors if they
have the loyal customers. . (Bruin, 2021)
Focus
It emphasizes the concentration on the reginoal market or a niche. The
company focus on the narrow target market and produce the products with
the higher price and the special quality. They attract the unique, loyal
customers with need of market niche in which the market was ignored by
others competitors. By applying this strategy, the company will success on a
limited part of the market and reduce the threat of the competitors. .
A good marketing strategy helps to define a clear, realistic and measureable
marketing objectives for the business.
It can also assist to set the realistic goals and focus on the actions which are
delivered to the right customers.
The business should develop the marketing strategy by identifying the
business goals, stating the marketing goals, researching the market, profiling
the potential customers and competitors, developing the strategies, using 7Ps
and testing the ideas and control.
Having a well-developed marketing strategy assist to achieve the realistic goals
and focus on the actions which are delivered to the right customers.
(Queensland, 2020 )
Identify the business goals
Company should align the marketing strategy to the business goals outlined in
the business plan. (Queensland, 2020 )
State the marketing goals
Defining a set of specific marketing goals which are clear, practical and
measurable and can motivate the team. (Queensland, 2020 )
Research the market
Gather information about the market size, growth, social trends and
dempgraphics and it is vital to keep an eye on the market and to ensure that
your strategy remains relevant with the environment the business is operating
and change if needed. (Queensland, 2020 )
Profile the potential customers
Segmentation, targeting and positioning to develop profile of customers to set
the best communication plans to reach them and to produce the products that
can solve their problems. (Queensland, 2020 )
Profile the competitors
By identifying the competitors’ products, supply chain, prices and marketing
tactics, you should develop the profile of the competitors. It can also get the
competitive advantages. (Queensland, 2020 )
Develop strategies to support the marketing goals
List the target markets and devise a set of strategies to attract and retain
them. (Queensland, 2020 )
Use the 7Ps of marketing
Use 7P s of marketing mix (product, price, promotion, place, people, process
and physical evidence) to be a success. (Queensland, 2020 )
Test the ideas and control
Do some online research, test some approaches and ideas on customers and
employees to meet the customer needs and improve your sales results.
(Queensland, 2020 )
Differentiate products and services
Analyse the market changes
Search the new opportunities in market to meet the consumer’s satisfication
Attract different types of customers
Establish brand awareness
Evaluate review and revise to gain ahead of competitors
Differentiate products, services and prices
It is what makes your products or services stands out to the target audience
and how they distinguish what they sell from what your competitors do. It
increase brand loyalty, sales and growth. There has the types of differentiation
and they are vertical differentiation, horizontal differentiation and mixed
differentiation.
Analyse the market changes
The marketers have to constantly analyse the market. The new developments
in the market place lead to development of the new competitve advantages or
threats so that they should be active, dynamic and alert to cope with the
changes of the market.
Attract different types of customers
There has the various expectations from different kinds of customers such as
unique features, novelty, low price and safety. The company can attract
different types of customers by promoting different types of competitve
advantages.
There are a lot of marketing strategies that can contribute to organization
competitive advantages such as
Providing superior customer service strategy
Development of the new marketing mix
Competing trough innovation strategy, etc.
The most important fact is that, the business need to select and apply the
most suitable strategy with the condition of business environment.
Superior service strategy
Nowadays, only good quality product is insufficient for the business to stay
relevant. The business also need to develop good customer service plan to
attract the mind of customers. It is the strategy that help to solve the
customer’s problems. It also involve services such as what,where and when
the customer wants and needs excatly. Good customer service can reduce the
customer’s time. Nowadays, most of the business provide customer service
with the use of Customer Relationship Management (CRM) systems such as
call centers, customer service/loyalty programs and data warehousing, etc. It
delivers customer value by personalizing the interaction between the
customer and the company. Demonstrate the company’s trustworthiness and
reliability to the customers and tightens connections with the customers leads
to get the competitive advantages.
The new marketing mix strategy
The set of controllable, tactical marketing tools that a company uses to
produce a response from their target customers. The objective is to meet the
needs and wants of the targeted market. It is controlled by 4Ps and they has its
own tools
Product: variety, quality, design, features, brand name, packaging, services
Price: list price, discounts, allowance, payment period, credit terms
Place: channels, coverage, assortments, locations, inventory, transportation,
logistics
Promotion: advertising, personal selling, sales promotion, public relations.
Innovation strategy
Internal pressures to exploit resources and new technologies and external
pressures such as intense competition, increase customer demands and
shortening of product life cycle due to technological drives are leading to
innovation. The company also want to contribute to the growth by anticipating
opportunities and risks with new technologies to adjust changes in market
needs and competitor moves.
The key innovation strategies are
Predicting industrial changes: understanding innovation pattern and events is a
key to predicting changes and is important for making effective strategic
decisions.
New business model: describing how the company makes money including
infrastructure and process to acheive business goals. It becomes obsolete and
select how to change.
Innovation company: the ability to build creative and innovative companies
with making things cheaper, faster and better diminishes and profit decline.
Radical innovation: existing technology and finding out new application which
focus on long term goals. It includes displcing current products, altering
relationship between customers and suppliers and creating new product
categories.
Disruptive innovation: making products and services more accessible,
affordable and valuable to larger population.
Value innovation: high-performing companies who achieve value innovation
which innovate in new value to customers. Understanding the need of
customer is what distinguish innovation.