23-07-2012, 10:02 AM
A marketing strategy
A marketing strategy.docx (Size: 14.4 KB / Downloads: 24)
Types of Marketing Strategy
One of the most important concepts of the marketing planning process is the need to develop a cohesive marketing strategy that guides tactical programs for the marketing decision areas. In marketing there are two levels to strategy formulation:
• General Marketing Strategies
• Decision Area Strategies
General Marketing Strategies
These set the direction for all marketing efforts by describing, in general terms, how marketing will achieve its objectives. There are many different General Marketing Strategies, though most can be viewed as falling into one of the following categories:
• Market Expansion
• Market Share Growth
• Niche Market
• Status Quo
• Market Exit
Decision Area Strategies
These are used to achieve the General Marketing Strategies by guiding the decisions within important marketing areas (product, pricing, distribution, promotion, target marketing). For example, a General Marketing Strategy that centers on entering a new market with new products may be supported by Decision Area Strategies that include:
• Target Market Strategy – employ segmenting techniques
• Product Strategy – develop new product line
• Pricing Strategy – create price programs that offer lower pricing versus competitors
• Distribution Strategy – use methods to gain access to important distribution partners that service the target market
• Promotion Strategy – create a plan that can quickly build awareness of the product
Achieving the Decision Area Strategies is accomplished through the development of detailed Tactical Programs for each area. For instance, to meet the Pricing Strategy that lowers cost versus competitors’ products, the marketer may employ such tactics as: quantity discounts, trade-in allowances or sales volume incentives to distributors.
A marketing strategy.docx (Size: 14.4 KB / Downloads: 24)
Types of Marketing Strategy
One of the most important concepts of the marketing planning process is the need to develop a cohesive marketing strategy that guides tactical programs for the marketing decision areas. In marketing there are two levels to strategy formulation:
• General Marketing Strategies
• Decision Area Strategies
General Marketing Strategies
These set the direction for all marketing efforts by describing, in general terms, how marketing will achieve its objectives. There are many different General Marketing Strategies, though most can be viewed as falling into one of the following categories:
• Market Expansion
• Market Share Growth
• Niche Market
• Status Quo
• Market Exit
Decision Area Strategies
These are used to achieve the General Marketing Strategies by guiding the decisions within important marketing areas (product, pricing, distribution, promotion, target marketing). For example, a General Marketing Strategy that centers on entering a new market with new products may be supported by Decision Area Strategies that include:
• Target Market Strategy – employ segmenting techniques
• Product Strategy – develop new product line
• Pricing Strategy – create price programs that offer lower pricing versus competitors
• Distribution Strategy – use methods to gain access to important distribution partners that service the target market
• Promotion Strategy – create a plan that can quickly build awareness of the product
Achieving the Decision Area Strategies is accomplished through the development of detailed Tactical Programs for each area. For instance, to meet the Pricing Strategy that lowers cost versus competitors’ products, the marketer may employ such tactics as: quantity discounts, trade-in allowances or sales volume incentives to distributors.