Marketing strategies are an effective stimulator of sales growth
Marketing strategies are methods by which you can achieve marketing goals.
Development of marketing strategies:
1. Identification of goals
2. Conducting external and internal analysis.
3. Setting marketing goals
4. Choosing a marketing strategy.
Development of marketing programs:
1. Linked to the goods (changing the assortment policy, diversification strategy, entering the market with new products)
2. Tied to prices (the strategy of increasing profits, the strategy of changing prices for goods, the price strategy of new products)
3. C associated with the market and the distribution of goods (entering new areas of the market, intensive and selective distribution)
4. Linked to the promotion of sales (strategy of market coverage, the creation of the image of the enterprise and the goods)
To make the right choice of marketing strategy, it is necessary that it meets certain requirements. She must be
1. It should be clearly formulated, specific and consistent
2. Developed to meet market requirements
3. Distributed to long-term and short-term
4. Developed taking into account the limited resources.
General characteristics of marketing strategies
1. Corporate-are determined by the definition of the way of interaction with the market and determining the potential of the enterprise with its requirements. The tasks to be solved-increasing the volume of entrepreneurial activity-meeting demand-stimulating the initiative-creating a new field of activity
2. Functional - are engaged in determining the main marketing strategies. Solved problems: the choice of the target market - the formation of marketing programs for the target market
3. Instrumental - are engaged in determining the ways of the best use of different components of marketing. Solved problems: increasing the effectiveness of marketing efforts in target markets
Characteristics of marketing strategies
Corporate strategies includecompetitive strategy, growth strategy, portfolio strategy. Portfolio strategies are the allocation of resources that are limited between business units and the potential capabilities of each business unit. Portfolio strategies include: - Matrix BKG - Matrix McKinsey
• Growth strategies - are the management of the enterprise, by choosing the types of its activities, taking into account external and internal indicators. The growth strategy is determined by the following matrices:
- The Ansoff matrix- The new BCG matrix
- Matrix of external acquisitions
• Competitive strategies - are to establish a competitive advantage of the enterprise or products and determine ways to preserve production. Competitive strategies include:
- The Porter matrix
- Matrix of competitive advantages
- Model of competitive forces
- The model of the reaction of competitors.
Functional strategies are divided into a market segmentation strategy, a positioning strategy and a marketing mix strategy.
• The market segmentation strategy has three directions
- product segmentation
- strategic segmentation
- competitive segmentation
• Positioning strategy - allows you to determine the attractive position of the product, compared to competitors
• The marketing mix strategy - allows you to define a mix marketing mix that ensures sales growth for the enterprise.
Instrumental marketing strategies are divided into:
- product strategy,
- price strategy,
- distribution strategy
- promotion strategy.
In conclusion, it should be noted that there issome complexity of the choice of optimal marketing strategies. But the time and resources spent on finding the right solution in the future are more than compensated by sales growth.