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DISCUSS THE
MARKETING STRATEGY
BLUEPRINT? PAGES 19-20
INTRODUCTION:
The other way is to use attributes, features etc. to position your product. Example, Woolworths uses
the attribute of quality as its positioning statement. Therefore, in all marketing communication, the
theme of quality is all pervading, means it is everywhere. Another way is to use your positioning
statement as a means of positioning. This is a statement which states who you are, what you’re
offering, and what makes you better than your competitors.
Segmentation, Targeting and Positioning is the master marketing strategy, everything else is
secondary, do this well and the firm will succeed.
• PHASE 3: HOW WILL WE GET THERE?
• NOW THAT YOU HAVE A GRAND MARKETING STRATEGY ABOVE. YOU NEED TO PUT THE STRATEGY INTO ACTION, HENCE THE WORD ACTION PLAN. WHAT ACTION
PLANS ARE YOU GOING TO IMPLEMENT? YOU NEED TO STATE WHAT YOU WANT TO ACHIEVE WITH THIS NEW MARKETING STRATEGY AND HOW ARE YOU GOING
TO DO IT. THIS MEANS YOU NEED TO DECIDE IF YOU ARE DEVELOPING NEW PRODUCTS OR USING THE SAME PRODUCTS FOR DIFFERENT MARKETS, OR
ENCOURAGING DIFFERENT USES OF THE PRODUCT. PRODUCT DEVELOPMENT OR MARKET DEVELOPMENT OR BOTH. READ ON WHAT THIS MEANS, I WILL NOT
SPOON FEED AS I AM DOING HERE…
• MARKETING MIX:
• PRODUCT: BRANDING, PACKAGING, PATENTS, TRADEMARKS, AUGMENTING THE PRODUCT, VALUE ADDING. WHICH PRODUCTS FOR WHICH SEGMENTS, PRODUCT
PORTFOLIO, PRODUCT MIX.
• PRICE: WHAT PRICING STRATEGY WILL YOU EMPLOY? PENETRATION, SKIMMING, MARKET PRICING OR FOLLOWER PRICING.
• PLACE: WHAT DISTRIBUTION STRATEGY WILL YOU HAVE. WHERE WILL YOUR PRODUCTS BE AVAILABLE? WHY IS YOUR DISTRIBUTION STRATEGY BETTER THAN
YOUR COMPETITORS? DO NOT IGNORE ONLINE DISTRIBUTION STRATEGY.
• PROMOTION: THE PROMOTION STRATEGY, MARKETING COMMUNICATION, COMMUNICATION MIX: SALES PROMOTION, PERSONAL SELLING, ADVERTISING AND
PUBLIC RELATIONS. ONLINE ADVERTISING AND SALES PROMOTION. FACEBOOK, TWITTER, AND SOCIAL MEDIA PLATFORMS.
•
• THE 4 P’S IS ALSO A MARKETING STRATEGY AS A WHOLE.
• CONTINGENCY: WHAT WILL I DO IF THINGS DO NOT WORK ACCORDINGLY? WHAT IF THE STRATEGY IS A WRONG ONE? HOW WILL I KNOW THIS BEFORE I LOSE
MILLIONS IN PRODUCT DEVELOPMENT AND ADVERTISING? MARKETING TOUCH POINTS IN THE SYSTEM. CHECK POINTS ON STRATEGY PROGRESS. HOW?
RESEARCH…
•
• PHASE 4: DID WE GET THERE?
•
• MONITORING THE PROCESS. HOW DO WE DO THIS? HOW DO WE KNOW IF SALES INCREASING OR THE ADOPTION OF THE PRODUCT OR RESPONSE TO MARKETING
MESSAGE? HOW?
• POSSIBLE CORRECTIVE ACTION: WHAT IS YOUR PLAN B? WHAT CAN YOU CHANGE COMPLETELY OR MINOR CHANGES YOU CAN MAKE TO YOUR MARKETING
STRATEGY FOR IT TO WORK OUT THE WAY YOU WANT IT TO OR TO ENHANCE AN EFFECTIVE STRATEGY OR TO RESPOND TO COMPETITOR RETALIATION.
• NOT ONLY IS THIS YOUR ESSAY QUESTION, THIS IS THE MATERIAL THAT EXPLAINS WHAT YOU NEED TO DO FOR YOUR PRESENTATION. I EXPECT YOU TO MASTER
THIS. EVERYBODY NEEDS TO KNOW THIS AS A WHOLE EVEN THOUGH YOU EACH HAVE INDIVIDUAL ROLES.