At the heart of any business strategy is a marketing

strategy.
Businesses exist to deliver products that satisfy
customers.
Simple marketing is a process of creating value
for the both parties buyer and seller profitably.
And strategic marketing is doing same thing
well, on large scale and strategically.
What's the difference
between a marketing
strategy and a
marketing plan?
The marketing plan,
can be thought of as
the practical
application of your
marketing strategy.
Marketing plan includes details about your business'
unique selling proposition, pricing strategy, the sales
and distribution plan and your plans for advertising and
promotions.
While marketing
strategy provides
the goals for your
marketing plans. It
tells you where
you want to go
from here. The
marketing plan is
the specific
roadmap that's
going to get you
there.
Marketing Strategy
An organization's strategy
that combines all of its
marketing goals into one
comprehensive plan. A good
marketing strategy should be
drawn from market research
and focus on the right product
mix in order to achieve the
maximum profit potential and
sustain the business.
The marketing strategy is the
foundation of a marketing plan.
Developing a Marketing Strategy:
1. Plans and objectives are generally tested for
measurable results. Commonly, marketing strategies
are developed as multi-year plans, with a tactical plan
detailing specific actions to be accomplished in the
current year.
2. Time horizons covered by the marketing plan vary by
company, by industry, and by nation, however, time
horizons are becoming shorter as the speed of change
in the environment increases. Marketing strategies
are dynamic and interactive. They are partially
planned and partially unplanned.
3. Marketing strategy needs to take a long term
view, and tools such as customer lifetime value
models can be very powerful in helping to
simulate the effects of strategy on acquisition,
revenue per customer and churn rate.
4. Marketing strategy involves careful scanning of
the internal and external environments.

Internal
Environmental
Factors
.
Internal environmental factors include the
marketing mix and marketing mix modeling, plus
performance analysis and strategic constraints.
External environmental factors include customer
analysis, competitor analysis, target market analysis,
as well as evaluation of any elements of the
technological, economic, cultural or political/legal
environment likely to impact success.
External
Environmental
Factors
5. A final step in developing
a marketing strategy is to
create a plan to monitor
progress and a set of
contingencies if problems
arise in the implementation
of the plan.
Note: A key component of
marketing strategy is often to
keep marketing in line with a
company's overarching mission
statement.
The Marketing Mix
-consists of answers to a series of product and
customer related questions.
1. Market selection
a. Who are the customers or
subset (segment) of customers you are
targeting?
2. Product planning
a. What products are the company
going to design or OEM for the selected
customers?
b. What are the product features
uniquely targeting this market?
c. How will the product be packaged?
a. Pricing is a quantitative expression of the
value of the product to the customer.
b. Pricing should be designed like a feature
consistent with the use of the product.
c. What will you charge for and How much?
d. How will the customer pay and when?

3
4. Place
a. Which channel, direct, wholesale or
retail channels best moves and delivers the
product and its benefits to the selected market?
5. Promotion
a. Positioning: What is the message that states
the purpose and benefits of the product in the market and
how it competes?
b. Selling: Direct or indirect through others?
c. Communications:
How will people be informed about your product,
showing them how it can be useful, and persuading them
to buy it?


d. Support and Service
How does the customer
get help if needed to make the
product work and replacing or
repairing it when its broken?
Strategies based
on market
dominance - In
this scheme, firms
are classified
based on their
market share or
dominance of an
industry.
Product strategy: what is your product and what need it
will fulfill of your customers?
Price strategy: what price you will select for your
product that your target market can easily afford.
Place strategy: how will you distribute your product to
your customers? What channel you will involve in your
placing strategy?

Promotion strategy:
What media you will use to spread your product
information to your customers?
How will you promote your product?
What manners most helpful for your product
promotions?
Are social media helpful for your promotional
strategy?
What method you will use to position your product?
What will be your positioning strategy?
After sale strategy:
Will you provide after sale service?
Will you give warranty or guarantee?
Who will give service to customer, you or
your partners?
1. Just follow your strategy and carry on.

2. Use your full resources and absolute mediums.

3. Keep you branding and messaging consistent.

4. Each medium has pros and cons. Leverage the
pros as much as possible.

5. Focus on your strategy and keep your eyes on
the market.

Who will monitor it?
YOU!
The actual selling process breaks down into two
components called the decision making unit
(DMU) and the decision making process (DMP).

The DMU) decision making unit

consists of all of the people who will play a role in
the decision to purchase a product. The
marketing mix program must understand the
needs of each of these individuals
and find a way to communicate the marketing
message to each of them. These people are
typically identified as:

Buyer the person who actually issues the
check. (For example the purchasing agent,
or the individual consumer)
Decider the person or group that actually
says this is the product we want, i.e. the
MIS manager
Influencer who helps the decider decide,
i.e. the press, analysts, peers, evaluation
groups
User the individual or group who actually
uses the product and derives benefit from it
The decision making process (DMP)

The people included in the decision
making unit (DMU) interact to make the
purchasing decision.
The (DMP) is a description of this
interaction. By understanding this process
a salesperson can best understand who,
how, and when to work on getting the
customer order.