Marketing Strategies

Goal Setting

  • While it is common to think that business goals are a waste of time and effort, they are unquestionably an extremely effective tool if used properly, Business goals need to be relevant in terms of dollar figures but also should provide motivation and direction. Having realistic goals in mind will offer the business attainable short and long run goals.
  • Content will include information on formulating goal settings and various other resources to integrate and achieve smart goals in the business world

 

Value Proposition

  • Establishing a value proposition is a key branding element that constructs strong consumer relations. Developing a value proposition requires review and analysis of costs, benefits, and value that organization can deliver to consumers.
  • Content will include information on formulating value propositions, ways of establishing market brand through such propositions, and various other resources related to value propositions being used by businesses today.

 

Source: oracle.com, Date retrieved: August,13,2014.

 

Source: appliedmarketing.com, Date retrieved: August,13,2014.

 

  • Marketing strategy in today's world refers to strategic formulation that allows organizations to concentrate its resources on specific areas of their business that maximizes sales and ensures long term sustainability of competitor advantage. A marketing plan is a comprehensive blueprint which outlines an organization's overall marketing efforts. Understanding the difference between the two is critical as the effectiveness of both strategic plans rely on each other to function properly
  • Content will include information on marketing strategies, how to formulate them, and the differences and similarities between strategy and planning to ensure properly effectiveness of both tools.

Source: verticalresponse.com, Date retrieved: August,14,2014.

  • Penetrating specific markets is termed today as a ratio of present sales compared to potential consumers or total population within a specific region. Establishing a region and determining the market potential is key when entering a new or novice market for the first time.
  • Content will include market research on percentage of market dominated by good/service and various other resources on determining penetration to specific markets.

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  • Vision statements intended to be an inspiration and used in formulation for strategic planning of any business. It allows direction in your business planning which is a critical part in ensuring success both short and long term.
  • Content includes ways of formulating, designing, and implementing useful vision statements as well as relevant information about vision statements in current markets

 

 

Source: forbes.com, Date retrieved: August,14,2014.

  • Competitive advantage refers when businesses and organizations attain attributes, assets, or significant resources that assist in outperforming competitors in the market. Ensuring that these factors are not easily copied or duplicate in the market is an essential part of sustaining this advantage.
  • Content includes strategies in developing sustainable competitive advantages and relevant information common threats that businesses face in the market today

 

Source: forbes.com, Date retrieved: August,14,2014.

  • Product marketing deals with the "7 P's of Marketing" : People, Product, Pricing, Promotion, Physical Environment, Process,and Place.
  • Content includes the role of Product Marketing, formulating of Product Strategies, creating Product Plans, Product definitions, Market definitions, and Vertical integrations

 

Source: robertwinton.com, Date retrieved: August,14,2014.

  • Growth strategies resemble a ladder where lower steps represent less risk but at the same time less growth impact. As businesses move up the ladder, there is the implementation of growth strategies called Intensive Growth Strategies where it brings new opportunities for growth
  • Content includes formulation and conducting Intensive growth strategies, developing various growth strategies, Market Penetration, Market Expansion, Product Expansion, and diversification.

 

Source: iveybusinessjournal.com, Date retrieved: August,14,2014.

  • One of the main factors for business success is determining what makes your business unique and incorporating key features in the marketing strategy. Using different differentiation strategies will bring distinction of the business among a saturated and competing market.
  • Content includes ways in formulating, conducting, and improving differentiation strategies that a business can use in its model

 

Source: chron.com, Date retrieved: August,14,2014.

 

  • While diversification has become almost a norm in today's world, there are various risks and threats associated with taking this path on rather then the fixed standard. Market branding, competitor analysis/competition, and market shifts are all factors that can endanger products and services in the current economy. Mitigating such factors with proper tools with ensure long term sustainability of start-up or running businesses.
  • Content includes information on the benefits and cons of being unique, risk associated with diversification, and further articles on ways to mitigate threats associated with diversification.

 

Source: chron.com, Date retrieved: August,14,2014.

  • The target audience is specific group of within the target market at which a product or the marketing message of a product is aimed at. The target audience can be classified into many categories, discovering the appropriate target market and audience is the most important marketing management.
  • Content includes developing strategies in developing and reaching target audiences, obtaining target audience reports, and aligning marketing efforts to the specific target audience

 

Source: Forbes.com, Date retrieved: August,14,2014.