What does a marketing strategy look like?
Of so many theories, definitions, schematics, and graphs, marketing is perhaps the most vague and frightening part that makes people think that marketing is a dark and murky business, to no avail.
When it comes to marketing, the first thing we think of is marketing strategy
If we ask different managers, “Do you know how a marketing strategy is made?” Most will say that they are not very aware of exactly what it is, but that they are doing quite well without it. Even well-known consultants who work with huge international companies share the same experience that the managers they consult also lack clarity on what a marketing strategy is. Abe Dark India is its marketing strategy.
I want to briefly and clearly describe the most easy-to-understand description of how the marketing strategy is made and what I came across.
Marketing strategy is not a huge document with hundreds of pages of explanations and blah blah smug and high-pitched bullshit type look at me how clever I am. The strategy is one page. Yes, to formulate it we may need to type some other sheet, but the essence is exactly one page.
Marketing strategy is a plan that describes the goals of the company, how we will achieve them and how their resources will be allocated. Without a clear and precise focus on specific goals, we cannot achieve them.
Here’s the strategy:
Product / Service Marketing Strategy for X: …………
Market segment – who are your target customers or in other words – to whom do you sell your products ………….
Goals – Goals are always about sales. They can be formulated as a percentage of the market, as sales turnover, as units of products sold, or as company profits. The purpose of each company is to sell its products and here the task is to formulate a measurable goal to pursue and then analyze. It is.
Product / service positioning. This is the most important part of the strategy. That is why it is done, to create a clear and precise positioning. Positioning includes:
Target competitor – This is the competitor your customers would prefer for you or who you want to beat to win your customers. You should always keep an eye on him and try to anticipate his reaction to your marketing strategy. Expect and be prepared for his counterattack.
Benefits – This is the reason your customers buy your products or use your services. In other words: Why do customers buy your products? We have the advantage of benefits when we can offer our customers 1 or 2 benefits that are easy to understand, important to them, willing to pay for them, and able to provide them at a higher level than competitors.
Strive to position yourself as an expert in few things, not to offer many benefits, but mediocre. We need to consider what benefits the company can best offer and focus on them so that customers can remember and associate with them.
The benefits are:
Economically – everything related to the cost and cost of operating the product.
Functional – This is a feature that promises to deliver the product / service.
Emotional – Feelings, expectations, arousal for belonging, comfort, high status and image when using a product / service.
Competitive Advantage – is an ability through which we can offer the benefits we have promised. It is important that the competitive advantage is sustainable in the short and long term and difficult to copy from competitors. If competitors are able to copy it (the advantage) and offer the same benefits as you, in order to excel, you will need to find another advantage.
Types of skills that can help you reap the benefits:
Skills: The expertise and professional knowledge and skills of your team or staff.
Resources: Equipment, equipment, facilities and more. inanimate things that help you reap your benefits.
Features: These are the main qualities of your products.
And the last point of the strategy:
Programs or Marketing Tactics: These are all the means and opportunities through which we can attract attention to spread our ideas, reach our customers and persuade them to buy our product / service.
It starts with the marketing mix, but we’re not limited to it. The Internet offers many interesting marketing and advertising opportunities. This is the creative part of the marketing profession. If we prepared our homework well, which I described above, we will have a strong and clear positioning and focus in one direction and purposefully invest our resources in it. It is important that any means we use to advertise suggest and explain our positioning.
This is a marketing strategy. To create it, we need to analyze in great detail the environment in which the business exists – PEST (political, economic, social and technological environment) analysis, to study our competitors, to segment and select our target customers.
Do you still think that marketing strategy is a vague and murky business?
I hope this description is understandable to you. Marketing strategy is of the utmost importance in a company and we must approach it responsibly and not underestimate it. In today’s rapidly changing chaos, we do not always have the time, the resources, the resources and the serenity to elaborate in detail the strategy itself. This should not scare us, because marketing is a philosophy of work and planning is never a waste of time.
Strive to outsmart your competitors, not outbid them.