Marketing Strategy
MARKETING STRATEGY
Description also available in video format (attached
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Introduction
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A process of using the marketing mix to
attract & satisfy the consumers for the profit of an organization
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It is also a set of
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Objectives
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Policies
o
& rules that guide over a time for
marketing effort of the firm
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A procedure used by the seller to achieve a
marketing goal
Steps
& Process of Marketing Strategy
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Steps
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Understand the customer
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Analyze the market
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Analyze the competitor
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Research
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Distribution
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Define the marketing mix
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Financial mix
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Review & Implementation
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Process
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Setting the objectives
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Designing
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Implementing
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Controlling
Types,
Components & 4Ps of Marketing Strategy
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Types
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Corporate Strategy
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Divisional Strategy
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Product Strategy
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Brand Strategy
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Market Strategy
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Components
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Use of market segmentation
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Develop & introduce a new product
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Lower your price
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Relationship with important distribution
partners
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Bring awareness to the target market
Significance
& Formulation of Marketing Strategy
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Significance
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Customer satisfaction
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Competitive advantage
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Corporate image
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Business expansion
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Resources utilization
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Building brand image
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Benefits to stakeholders
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Formulation
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Determine of marketing objectives
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Generating alternative marketing mix
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Selecting the most profitable marketing mix
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Implementing the chosen marketing mix
Video
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