Marketing strategies are methods by which you can achieve marketing goals.
Development of marketing strategies:
1. Identification of goals
2. Carrying out external and internal analysis.
3. Setting marketing goals
4. The choice of marketing strategies.
Drawing up marketing programs:
1. Associated with the goods (changing assortment policy, diversification strategy, entering the market with new goods)
2. Associated with prices (strategy for increasing profits, strategy for changing prices for goods, pricing strategy for new goods)
3. C related to the market and distribution of goods (access to new areas of the market, intensive and selective distribution)
4. Associated with sales promotion (market coverage strategy, creating the image of the enterprise and goods)
To make the right choice of marketing strategy, it is necessary that it meets certain requirements. She must be
1. It must be clearly formulated, specific and consistent.
2. Designed to meet market requirements
3. Distributed into long-term and short-term
4. Designed with limited resources.
General characteristics of marketing strategies
1. Corporate - are engaged in determining the way of interacting with the market and determining the potential of an enterprise with its requirements. Tasks to be solved - increase in the volume of entrepreneurial activity - meeting demand - stimulating initiatives - creating a new field
2. Functional - they are engaged in determining the main marketing strategies. Tasks to be solved: selection of the target market- formation of marketing programs for the target market
3. Instrumental - engaged in determining the best ways to use the different components of marketing. Tasks to be solved: increasing the effectiveness of marketing efforts in target markets
Characteristics of marketing strategies
Corporate strategies include competitive strategy, growth strategy , portfolio strategy. Portfolio strategies are the allocation of resources that are limited between business units and the potential capabilities of each business unit. Portfolio strategies include: - The BCG Matrix - The McKinsey Matrix
• Growth strategies - consist in the management of the enterprise, by choosing the types of its activities, taking into account external and internal indicators. The growth strategy is determined by the following matrices:
- Ansoff Matrix - New BCG Matrix
- Matrix of external acquisitions
• Competitive strategies - consist in establishing the competitive advantage of the enterprise or products and determining ways to maintain production. Competitive strategies include:
- Porter matrix
- Competitive Advantage Matrix
- Model of competitive forces
- The reaction model of competitors.
Functional strategies are divided into market segmentation strategy, positioning strategy and marketing mix strategy.
• The market segmentation strategy has three directions
- product segmentation
- strategic segmentation
- competitive segmentation
• Positioning strategy - allows you to determine the attractive position of the product, compared with competitors
• Marketing mix strategy - allows you to define a mix marketing mix that provides sales growth for the enterprise.
Instrumental marketing strategies are divided into:
- product strategy
- pricing strategy,
- distribution strategy
- promotion strategy.
In conclusion, it should be noted that there is some difficulty in choosing the best marketing strategies. But the time and resources spent on finding the right solution will be more than paid off by sales growth.