This website uses cookies to ensure you have the best experience. Learn more

Marketing Strategies Essay

799 words - 4 pages

Develop a marketing strategyEffective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps you define your vision, mission and business goals, and outlines the steps you need to take to achieve these goals.Your marketing strategy affects the way you run your entire business, so it should be planned and developed in consultation with your team. It is a wide-reaching and comprehensive strategic planning tool that:describes your business and its products and servicesexplains the position and role of your products and services in the marketprofiles your customers and your competitionidentifies the marketing tactics you will useallows you to build a marketing plan and measure its effectiveness.A marketing strategy sets the overall direction and goals for your marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take to implement ...view middle of the document...

Identify your business goalsTo develop your marketing strategy, identify your overarching business goals, so that you can then define a set of marketing goals to support them. Your business goals might include:increasing awareness of your products and servicesselling more products from a certain supplierreaching a new customer segment.State your marketing goalsDefine a set of specific marketing goals based on the business goals you listed above. These goals will motivate you and your team and help you benchmark your success.Examples of marketing goals include increased market penetration (selling more existing products to existing customers) or market development (selling existing products to new target markets). These marketing goals could be long-term and might take a few years to successfully achieve. However, they should be clear and measurable and have time frames for achievement.Make sure your overall strategies are also practical and measurable. A good marketing strategy will not be changed every year, but revised when your strategies have been achieved or your marketing goals have been met. Also, you may need to amend your strategy if your external market changes due to a new competitor or new technology, or if your products substantially change.Research your marketResearch is an essential part of your marketing strategy. You need to gather information about your market, such as its size, growth, social trends and demographics (population statistics such as age, gender and family type). It is important to keep an eye on your market so you are aware of any changes over time, so your strategy remains relevant and targeted.Profile your potential customersUse your market research to develop a profile of the customers you are targeting and identify their needs.The profile will reveal their buying patterns, including how they buy, where they buy and what they buy. Again, regularly review trends so you don't miss out on new opportunities or become irrelevant with your marketing message.While you try to find new customers, make sure your marketing strategy also allows you to maintain relationships with your existing customers.

Other Essays On Marketing Strategies

Detailed International Marketing Plan Outline: Part II

1803 words - 8 pages decisions, identifies new markets, changes products and develops new products (Lindsey, 2008).Challenges on ImplementationGE's international marketing plan needs to adapt to the market, using strategies to accomplish the company's goals. Marketing in India means GE needs to find a combination of target markets and marketing environments different from those used in the U.S. due to differences in the cultural, social, economic, and legal forces in

Marketing And The Marketing Mix Essay

912 words - 4 pages support the positioning strategy.A marketing strategy is a plan identifying what marketing Goals and Objectives will be pursued, and how they be achieved within the time available. Marketing strategies identify and specify target market and generate a practical marketing mix based on this data. Basically, a marketing strategy provides a 'big picture' of what a business's intentions are with regard to marketing.THE MARKETING MIXThe marketing mix is the

Business Marketing Is Radically Different From Consumer Marketing. Why Is This So?

1082 words - 5 pages of the site, therefore the marketer must advertise to drive traffic to it.Unique Promotional StrategiesThe complex buying process and inclusion of several people from different functional areas impact the business marketing promotional strategies, too. In a family, for example the person who determines the budget is likely to be the person who makes the purchase and decide what is needed. When an organization makes a purchase, however, personnel

Integrated Marketing Communications - Ireland

1249 words - 5 pages . The six elements include situational analysis, marketing objectives, marketing budget, marketing strategies, tactics and evaluation.Marketing Communication ComponentsSituational analysis is taking factors both internally and externally to identify marketing problems or opportunities. A SWOTT (strengths, weaknesses, opportunities, threats and trends) analysis is similar and can be used for this step.Marketing objectives are the results the company

Kellogg's Case Study

2605 words - 11 pages Balancing the marketing mix through creative and innovative strategies A Kellogg's case studyIntroductionThe Kellogg company was founded in 1898 by W.K. Kellogg and his brother, Dr. John Harvey Kellogg. Through experimentation with flaked corn, W.K. Kellogg created the recipe for Corn Flakes. In 1906, he opened the "Battle Creek Toasted Corn Flake Company" and recruited his first 44 employees. Together with these employees he developed the

Business Studies Marketing Strategy

572 words - 3 pages The marketing mix is a recipe for effective marketing. Using the marketing mix when planning the marketing for a product allows for a consistent approach.Getting a good balance of the 4 Ps will mean an effective marketing campaign.The main pricing strategies areCompetitive pricingCost plus pricingPenetration PricingPrice skimmingDestroyer pricingPrice discriminationCOST PLUS PRICINGThis is the simplest pricing strategy and is aimed at ensuring

Marketing Tools For Online Booksellers

1175 words - 5 pages as well as a direct link for specific customer service. The design of the support pages is appealing due to the quick load of an all-text page.AmazonAmazon uses simple marketing strategies such as e-mails inviting a consumer to go to to view millions of products that are offered. Amazon has developed partnerships with different retailers that advertise their association with Amazon, such as Target, Office Depot, and Cannon. Other

International Marketing Plan And Objectives

996 words - 4 pages will target 2% of the targeted audience during the second quarter.Market Share. A common objective for companies engaged in international trade is to expand global market share. This goal is accomplished by earning market position within individual nations using various strategies. Pure-n-Clean will conduct marketing research to determine demand levels for water filtration products within the country of Mexico, targeting a 1% gain of the available

Consumer Behavior

853 words - 4 pages consumers and form the relevant strategies in order to suggest to the businesses on making a product that ultimately becomes mainstream for all consumers.Therefore; the analysis of the psychological trends and behaviors of consumers, and the planning of marketing strategies is directly linked to the psychology of all individuals looking to become buyers. The communication message has an increasing role in any marketing campaign and an ineffective

The Danger Of Not Aligning The Three Domains In Change

3807 words - 16 pages business by changing the ophthalmology business into franchise (combined sales and marketing team led by one manager) in short term. He discussed with the two product managers about new strategies. To his disappointment, both product managers were lacking marketing management competency and poor in English communication. The Marketing Director thought about immediate organizational restructuring by adding one caliber person to his team. His proposal

Marketing Advertising

2123 words - 9 pages tactics such as blogs, social media, display advertising, newsletters and mobile to create marketing campaigns. Oversee multiple projects and interact with various teams (creative, tech, account and sales). Market Research Analyst: Collects, analyzes and interprets qualitative and quantitative data to determine the demand for certain products and services. Evaluates the effectiveness of existing and planned marketing strategies. May work in house or

Similar Papers

Marketing Branding Strategies Axia College Mkt 230

477 words - 2 pages Untitled Marketing Branding Strategies The most successful companies tend to do business all over the world.� Coca - Cola is one of them, This Company is seen all over the TV and billboards.� They are so successful on their product because of the new things they come up with every year.� This is some of the branding strategy they have to do in order to stay in business with investors all over the world.�� This company has used

Telecom Essay

303 words - 2 pages companies. The main objective of this thesis paper is to show the problems and prospects of telecommunication sector and its marketing strategies as individual company taking the steps time to time.It can be said that the Bangladesh telecom market has a lot of potential to offer considering strategically ignorable or somehow alterable threats. The market looks very potential and prospective. Lots of opportunities are waiting.References:Brassington F

Marketing Differences B2 B & B2 C Essay

1283 words - 6 pages is the focus of both plans on top of building a relationship of any shape or form based on the "sellers" actions and the happiness of the "buyer". Both will utilize a good marketing strategy that is dynamic and interactive. A good marketing strategy should integrate an organization's marketing goals, policies, and action sequences (tactics) into a complete package. A marketing strategies objective is to put the organization into a position where

Marketing Myopia Mkt/421 Essay

512 words - 3 pages Summary of Marketing MyopiaTheodore Levitt's work clearly lacks the sign of myopia; it is an early recognition of a phenomenon within most of the industries. Although, at the time, when this article was written, generally accepted marketing strategies and the idea of marketing mix were known to management, sales and marketing often got confused as the same method to distribute goods to consumers. Industries near-sightings stopped them to