MARKETING METAMORPHOSIS HOW & WHY?

Jun 21st, 2015
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In the current scenario, form of marketing is changing rapidly. Marketing is passing through the turbulent phase; principles and theories which are relevant today are going to be passe tomorrow. Thus marketer is routinely adopting different principles to remain customer and market focussed. The changes which are taking place are unidirectional.

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Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in the market arena. Corporate strategies, corporate missions, and corporate goals. As the customer constitutes the source of a company's revenue, marketing strategy is closely linked with sales. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement.[4]Basic theory:Target AudienceProposition/Key ElementImplementationTactics and actions[edit]A marketing strategy can serve as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organizati

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