Marketing is used for has the following roles in an organization:

• Product Development - Well starting at the very beginning what products should we
make and what features should it have?
• Promotion - How do we make the product or organization known to those in the
market.
• Product Pricing - What should be the amount of value exchanged for the product?
• Sales - How do you carry out the transaction that changes ownership of the product?
• Distribution - How do you get the product in the hands of the consumer or customer?
• Creating Revenue - How does the product generate revenue for the business (e.g.,
sales, licensing, etc.)

Marketing Strategy
Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing
objectives of the organization. It provides a blueprint for attaining these marketing objectives. It is the
building block of a marketing plan. It is designed after detailed marketing research. A marketing strategy
helps an organization to concentrate it’s scarce resouces on the best possible opportunities so as to
increase the sales. A marketing strategy is designed by:
1. Choosing the target market:
By target market we mean to whom the organization wants to sell its products. Not all the
market segments are fruitful to an organization. There are certain market segments which
guarantee quick profits, there are certain segments which may be having great potential but there
may be high barriers to entry. A careful choice has to be made by the organization. An indepth
marketing research has to be done of the traits of the buyers and the particular needs of the
buyers in the target market.
2. Gathering the marketing mix:
By marketing mix we mean how the organization proposes to sell its products. The organization
has to gather the four P’s of marketing in appropriate combination. Gathering the marketing mix
is a crucial part of marketing task. Various decisions have to be made such as –

What is the most appropriate mix of the four P’s in a given situation

What distribution channels are available and which one should be used

What developmental strategy should be used in the target market

How should the price structure be designed Importance of Marketing Strategy

Marketing strategy provides an organization an edge over it’s competitors.

Strategy helps in developing goods and services with best profit making potential.

Marketing strategy helps in discovering the areas affected by organizational growth and
thereby helps in creating an organizational plan to cater to the customer needs.

It helps in fixing the right price for organization’s goods and services based on information
collected by market research.
Strategy ensures effective departmental co-ordination.

It helps an organization to make optimum utilization of its resources so as to provide a sales
message to it’s target market.

A marketing strategy helps to fix the advertising budget in advance, and it also develops a
method which determines the scope of the plan, i.e., it determines the revenue generated by the
advertising plan. In short, a marketing strategy clearly explains how an organization reaches it’s
predetermined objectives.
MARKETING MIX-7P’S

1. PRODUCT
It goes without saying that the service or product you’re selling should be at the centre of every
element of the marketing mix.
Fundamentally, it allows you to address the questions key to sales conversion: what problem or
issue does the product solve for customers? Why is your product the best one to solve it?The digital
marketing mix is perfect for showcasing your products, through SEO, blogs or articles, paid advertising,
influencer marketing, and viral video campaigns, for example.

2. PRICE
The strategy behind the pricing of your product needs to be based on what your customers are
prepared to pay, costs such as retail mark-up and manufacturing, as well as other considerations.Your
marketing mix can include subscription and membership discounting programs, or email marketing of
promotions and sales.

3. PROMOTION
Successful marketing strategies include all the promotional activities across the marketing mix,
including advertising, direct marketing, and in-store promotional activities.
The possibilities of digital promotion are limited only by your imagination and can include online
events, chats, social media groups, and livestreams.

4. PLACE
Where and how your product is displayed and sold should be directly informed by your
customers. A deep understanding of their purchasing patterns – and targeting them at the right stage in
their buying cycle – will make it clear where you should promote and sell your products and how that
fits into your online and real-world marketing mix.
5. PEOPLE
Excellent customer service not only converts to sales, but can increase your customer base by
referrals. Acquiring these referrals by people who love your brand can also be a great example of how
your marketing efforts can support your sales process. It’s important that everyone who represents your
 brand or deals with customers – including the non-human chat bot variety! – are fully trained sales
professionals with an intimate knowledge of your product and how it will improve the lives or solve the
problems of your customers.

6. PROCESS
The process of delivering your product to the consumer should be designed for maximum
efficiency and reliability, but may also include features that are in line with your brand, such as
being environmentally or sustainably focused. With the rise in online shopping, digital partnerships and
logistics have become an essential part of the marketing mix.

7. PHYSICAL EVIDENCE
Physical evidence incorporates aspects that proves your brand exists and that a purchase took
place. Examples of proof that your brand exists can include things like a physical store or office for your
business, a website if your business operates solely online, and printed business cards that you exchange
when meeting people. Examples of proof of purchases can include physical or digital receipts, invoices,
or follow-up email newsletters that you send to customers as a retention exercise.

MARKET PLANNING – SWOT ANALYSIS

A SWOT (Strengths, Weaknesses, Opportunities Threats) analysis is a great way to consider

how you compare to the competitors in your market. It is one of the primary methods you can use to
prompt the major issues which face your business now and into the future. It is one of the key
components of any marketing plan.

A SWOT analysis definition for developing a marketing plan is also known as a Current
Situation Analysis (situational analysis). This is an important point to start with. You need to
consider your business right now, not as you might like it to be but as it actually is. This is the current
situation. Not the future situation.

Step 1: Strengths

What does the company/product do better than (or at least equivalent to) the competition. This could be:

• Specific product attribute advantage

• Brand perceived value
• Customer service of company

Step 2: Weaknesses

What does the company/product do that is not as good as the competition? How is this going to
effect your customer's sales? Thought needs to be given to how you can compensate for, or overcome
 these issues. What is the cost of overcoming these issues? Is it necessary to overcome the issues or are
they something you can accept and deal with?

Step 3: Opportunities

What area of the market could you enter with some modifications to the product/service or
company? The main elements here could include:

• Change size, shape, colour

• Additional services
• New packaging
• Different distribution points
• New promotional focus

Step 4: Threats

What actions could threaten the product or standing in the market?

• New competitor entry

• Major product failure
• Reduction in promotional spend
• Customer changes
• Changes in the market

Changing the Marketing Landscape

1. Marketing Automation
Research shows that nearly half of tasks done by paid professionals can be automated. Indeed,
marketing automation is the practice of utilizing software to automate these repetitive tasks. Among
companies that outgrew their competitors, 63% were using marketing automation to enhance their
marketing strategies.

2. Artificial Intelligence
Marketers are better able to dynamically automate customer interactions using artificial
intelligence technologies. According to the 2017 Economist Intelligence Unit Report, nearly 80% of
business executives believe their work will be made easier with AI.

3. Experiential Marketing
Experiential campaigns engage customers through immersive, real-world events or interactions.
Marketers can implement a number of experiential strategies, including:
• Using stars to boost attendance
• Touring