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Marketing strategy is the basic approach that the business unit will use to attain its goals and which comprises of elaborate decisions (strategies) on largest markets, market positioning and mix and marketing expenditure allocation. Moreover, the marketer should take care of the other two strategic aspects, viz., expected environment and competitive conditions while determining the marketing strategy
MARKETING STRATEGY
ELEMENTS OF MARKETING STRATEGY 1. Marketing Mix The marketing mix decisions of a firm are strategic
-term
framework. All the same, they have to be modified and manipulated, based on short-term requirements.
MARKETING STRATEGY
ELEMENTS OF MARKETING STRATEGY 2. Resources of the Firm Mere ambition will not bring about a marketing mix;
MARKETING STRATEGY
ELEMENTS OF MARKETING STRATEGY 3. Edge over competition It is competition that necessitates strategy or more
MARKETING STRATEGY
MARKETING STRATEGY
ESSENTIALS OF MARKETING STRATEGY 2. Workable Any strategy however worthy is meaningless unless it is
MARKETING STRATEGY
MARKETING STRATEGY
ESSENTIALS OF MARKETING STRATEGY 4. Non Risky Any strategy involves risks as uncertainty is certain;
MARKETING STRATEGY
ESSENTIALS OF MARKETING STRATEGY 5. Resource Based A strategic decision needs commitment of right amount
MARKETING STRATEGY
ESSENTIALS OF MARKETING STRATEGY 6. Time Horizon A sound strategy is time bound. The time should be
KEY DRIVERS OF MARKETING STRATEGY 1. Competition Most firms face four types of competition, as follows:
similar prices
1. Competition
2. Product competitors: they compete in same produce
1. Competition
4. Total Budget Competitors: they compete for the limited financial resources of the same customers
etc.
strategy
5. Technological Advancement
Technology actually refers to the way that anyone accomplished specific tasks or the processes
Business marketing may be defined as the marketing of products, services, and solutions to organization such
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 1. Product The cost saving or revenue producing benefits of
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 2. People (target market) The target market for a business product or service is
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 3. Pricing The business market can be convinced to pay premium
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 4. Business/Industrial Advertising Industrial advertising is the strategy of attracting the
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 5. Trade Shows Trade shows are designed to let exhibitors meet many
STRATEGIES FOR INDUSTRIAL MARKETING B2B Branding 6. Place (sales and distribution) The success of the marketer is highly depended on the
advertising, public relations, direct mail, trade show support, sales collateral and branding.
STRATEGIES FOR INDUSTRIAL MARKETING B2B Marketing Communications Methodologies 1. Positioning statement This is the statement of what any individual do and
STRATEGIES FOR INDUSTRIAL MARKETING B2B Marketing Communications Methodologies 2. Developing the message The message should convey the consumers what the
STRATEGIES FOR INDUSTRIAL MARKETING B2B Marketing Communications Methodologies 3. Building a campaign plan Includes building a comprehensive plan to target
STRATEGIES FOR INDUSTRIAL MARKETING B2B Marketing Communications Methodologies 4. Briefing an agency A standard briefing consisting of the objectives, target
market,
target
audience,
product,
campaign
STRATEGIES FOR INDUSTRIAL MARKETING B2B Marketing Communications Methodologies 5. Measuring results The real value in results measurement is in tying the