Basic Business Knowledge

What is a marketing strategy?

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The term marketing strategy is a long-term behavioral plan that serves to achieve the marketing goals derived from the company goals.

Marketing strategies describe policy decisions, which are examined in more detail to achieve established marketing goals. The task of marketing strategies is to define a framework of orientation and thus to ensure the targeted orientation and channeling of operational marketing measures. The marketing strategies thus ensure a long-term market-oriented orientation of the company.

From advertising and banners to product placement, telemarketing, and search engine marketing, to social media activities, sales, and press relations, marketing has many facets and opportunities. Of course, not every company can exploit the full cornucopia of possibilities but uses individual, relevant building blocks.

Definition of marketing

As the term implies, marketing refers to the marketing of products or services. It is about defining one or more target groups and meeting their needs, requirements, and needs. The goal of marketing management is to reach potential customers (customer or consumer), to address them and to encourage them to buy or use an offer.

Marketing is not just about the B2C approach, it also includes the involvement of B2C and all stakeholders in this overall process of a company. There are various marketing strategies and marketing tools.

How are the marketing goals determined?

To determine the marketing goals must first be compared with the target state of the company. This describes the current state of the company’s current situation. Significant quantities or parameters are built and then compared with the target state of the company. The target state then describes the expectations that are placed on the company. This market analysis and market segmentation are helpful tools for setting these expectations for the associated marketing goals.

The development of the appropriate marketing strategy

The company can achieve the actual target by following the appropriate marketing strategy If the marketing goals are determined. First and foremost, to make a comparison with the competition the marketing strategy has many different directions.

In term of product price, product quality or service have done the positioning. If a marketing strategy has been established, appropriate measures are taken with which they are then to be implemented.

Distribution channels of the marketing strategy

For the marketing strategy, there are various distribution channels use. To do this, ask the following questions: Which sales channels can be most effectively achieved by the chosen market segment? How selective, exclusive or intense should a sales channel be? What is the corresponding bargaining power of the potential sales partners? How can the sales partners be motivated and controlled?

Example

A self-employed hairdresser has a goal to become one of the most well-known hairdressers in one year. For this reason, he must have a marketing strategy to realize this goal with given competition.

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