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| *Ostroff, Fair and Company>>>Other - Advertising & Marketing |
Marketing Stratgy Question..........? |
Can anyone briefly define "marketing strategy" and discuss its role within the overall corporate strategy of a firm? Marketing strategy is a big subject. STP, segmentation, targeting and placing is the basic bread and butter strategy. Beyond this depending on different products there are different strategies like niching, impulsive buying, durables, non durables, services etc;. For each of this either you can use the bread and butter strategies or there are tailor made strategies for each of this. You can refer Bell and Vince for particular strategies for different categories. Corporate strategies are like taking decisions on captial structure, mergers and acquisitions, growth of the company etc;. Business strategies are something like the swot strategies I gave earlier. Organization strategies is basically risk management. Marketing Strategy is the incorporation of the right media mix and the right creative mix (as revealed by testing or experience) to reach the maximum number of potential customers (as revealed by testing or experience) at a cost that will justify the exposure. Marketing strategy answers your goals. It's a tool to help you achieve not only your marketing goals but the the overall firm's as well. It should help you identify key points like your Unique selling point, your target market, market positioning, etc. Your marketing strategy is your game plan to form a strong network of returning customers, colleagues, associated vendors-AS WELL as maintain a strong public presence within the communities that will benefit from the service you offer. Its roll within a corporation is a vital one-marketing is your connection to a successful business, you know. The "strategy" can be a game plan on paper, but it doesn't have to. Depending on your needs, statistical, product and customer research may be helpful. |
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