Marketing strategy analysis

Marketing strategy analysis

Marketing strategy is the section whereby a businessman outlines an overall game plan for finding customers for his business.  This focuses on what a businessman want to achieve goals for his business and marketing efforts.  The best marketing strategy contains what you know about how your business fits in the market and how to develop the behavior that will achieve your marketing objectives.

 

Before creating your marketing strategy, you need to consider how your products benefit other clients and how it is unique to them.  Also, you need to conduct market research to understand your competition, your target place to locate your business and other factors that will bring impact and ability to reach and entice your customers to your business.  The marketing plan is a set of controllable, tactical marketing tools that a company uses to come up with the desired response from its target market.  The marketing plan can be divided into four categories of variables commonly referred to as the four Ps: The four Ps are as follows:

  1. Product: This shows the goods and services offered by a company to its customers.

2: Price: This is the amount of money a customer is supposed to give to purchase the product.

3: Place or distribution: These are the activities that make the product available to the consumers.

4: Promotion: These are the activities that communicate the product’s features and benefits which enable customers to buy the product.

 

 

 

There are various types of marketing strategies.  Some of the classes are discussed as follows:

One of them is online marketing where a marketer asks their customers to purchase their goods and services using the internet. The marketer may also advertise his products through online basis.  He gives all the details containing in his products so that the customers may be able to view and decide what he or she wants.

The second type of marketing strategy is Email marketing. As soon as customers migrate into the online world, internet marketers have tried to collect and organize emails for potential prospects.  Most business- to -business marketers depend on email marketing as a primary way to connect with their customers.  In this way, their products are well purchased.

There is also Evangelism Marketing where the businessman employs people to hold seminars to advertise their products.  They make those people become the advocates of their product and who represent the product as if it was part of their own identity.

The other type of marketing strategy is newsletter marketing.  The best and fun way to promote a business is to write a newsletter that highlights some of the newsworthy things that have happened for the organization.  These newsletters have created a sense of inclusion and participation with their customers and have also provided a key driver for their incredible growth.

The last type of marketing strategy is social media marketing.  Some sites like Facebook and Twitter provide a unique opportunity for most of the people who want to invest in a business.  Social media marketing is still in its infancy but is growing up somehow faster.

 

In conclusion, there are elements of a successful marketing strategy.  One of the critical aspects of a successful marketing strategy is the acknowledgment that your existing and potential customers will fall into particular groups characterized by their needs.  You can then create a marketing strategy that enables your strengths and matches them to the needs of the clients you want to target.

The central element considered is that of monitoring and evaluating how effective your strategy has been.  This element not only help the businessman see how his plan is performing in practice, but it can also help him inform his future marketing strategy.  The easy way is to ask each new customer how they heard about their business.

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