What Are the Types of Strategies in Marketing

(Strategic Management)?
There are five types of strategy

1. Competitive Strategy
2. Corporate Strategy
3. Business Strategy
4. Functional Strategy, and
5. Operating Strategy

1. Competitive Strategy:
The competitive strategy consists of business
approaches and initiatives. It undertakes a company to attract clients and deliver.
Superior values to them through fulfilling their looking forward as well as to strengthen
its market position. The objective of the competitive strategy is to win the customer’s
heart by satisfying their needs. Finally, it is to outcompete competitors and attain
competitive advantages.

2. Corporate Strategy:
 Such a strategy describes the company’s overall
corporate strategy. As well, corporate strategy defines the long-term objectives and
generally affects all the business-nits under its umbrella. A corporate strategy may be
acquiring the major tissue paper companies in Bangladesh to become the
unquestionable market leader.

3. Business Strategy:
This strategy emphasizes the building up of the
company’s competitive position of products or services. Business strategies compos of a
competitive and cooperative approach. The business strategy covers all the activities and
tactics for competing in denial of the competitors.  The business strategy’s main focus is
product development, innovation, integration, market development and diversification.

 Vision, mission, and values

 Long-term goals for your business strategy
 Financial objectives
 Operational objectives for your business strategy
 Market objectives or creating customer value
 SWOT Analysis
 Business strategy action plans
4. Functional Strategy:
The functional strategy is concerned with developing
the right stuff to provide a business unit with a competitive advantage. Each business
unit has its own set of departments, and every department has a functional strategy. 

5. Operating Strategy:
An operating strategy is put across at the field level,
usually to achieve on-hand objectives. In some companies, managers develop an
operating strategy for each set of annual goals in the divisions.

Operations strategy consists of six main components or elements. Such as

 Designing and positioning the production system.

 Focusing production or manufacturing and service facilities.
 Designing and developing the product or service.
 Selecting the technology and process development.
 Allocating the resources.
 Planning of capacity, facility, and layout.