Marketing Strategy Overview

Jun 30th, 2015
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- Strategy: plan to achieve defined objectives - Strategy at multiple levels with an enterprise - Marketing strategy is at the heart of any business, everything else is complementary

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Marketing Strategy Overview- Strategy: plan to achieve defined objectives- Strategy at multiple levels with an enterprise- Marketing strategy is at the heart of any business, everything else is complementaryElements of Marketing Strategy (Marketing Mix)- Product/Market SelectionMarket Segmentation (DGPP, its an art, not a science)Demography (buying behaviour)GeographyPsychographic Variables (individual lifestyle, and attitude towards work, home etc. For industrial sectors this is equivalent of corporate culture)Product Application and UseMarket Selection Criteria (PLRC)Product Value (who values the product highly?)Long-run growth potentialResource commitmentsCompany-product/market fit (cannibalisation? Utilise existing capacity?)In market selection first mover might have an advantage, can develop market recognition, and achieve scale economies- Price (SCCBV)Supply/demand conditions (cartels, competitive signalling)Costs of production and overheads (fixed and variable)Competition (respond to competition by: differentiation, price leadership, dampen intra-brand competition among resellers)Buyer bargaining powerValue of product to customers (the worth of a thing is the price it will bring)Skimming (high to low) vs Penetration (low to high) pricingPrice DepressorsPrice LiftersExcessive supplylimited/controlled supplyBrand competitionhigh valueintra-brand competitiondifferentiationpenetr

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