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Basic Concepts of The Marketing Strategy

The document discusses marketing strategies, defining it as a process that allows companies to target limited resources on the best opportunities. It notes the main types as business-to-business and business-to-consumer strategies. Specific strategies mentioned include paid advertising, cause marketing, relationship marketing, word-of-mouth marketing, and internet marketing. The advantages are improved efficiency and a targeted approach, while disadvantages include the risk of getting stuck with a failed strategy or decreased perceived value over time.

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Marischiel Sablan
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39 views

Basic Concepts of The Marketing Strategy

The document discusses marketing strategies, defining it as a process that allows companies to target limited resources on the best opportunities. It notes the main types as business-to-business and business-to-consumer strategies. Specific strategies mentioned include paid advertising, cause marketing, relationship marketing, word-of-mouth marketing, and internet marketing. The advantages are improved efficiency and a targeted approach, while disadvantages include the risk of getting stuck with a failed strategy or decreased perceived value over time.

Uploaded by

Marischiel Sablan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Basic Concepts

of the
Marketing Strategy
CONTENT

• Introduction
• Definition
• Types of Marketing Strategy
• Advantages
• Disadvantages
• Conclusion
INTRODUCTION

• A marketing strategy can be defined as a process for allowing a


company to target limited resources on the best opportunities. It
results in increased sales and achieving a sustainable competitive
benefit.
• Generally, this strategy combines all their marketing targets into one
plan and achieving maximum profit. This strategy is designed for
optimal allocation of scarce resources at the disposal of the
organization to deliver excellent customer experiences.
• The Scarce resources consist of human capital, technology, time and
monetary capital.
MARKETING STRATEGY
DEFINITION

• Marketing strategy is used by different companies to


collaborate with their consumers. It is also employed
to aware the customers about the features,
specifications and benefits of company’s products.
• It is basically focused on encouraging target
population to buy those specific products and
services. The marketing strategies might be totally
innovative or they can be previously tried or tested
strategies.
TYPES OF MARKETING
STRATEGIES

• There are different types of marketing strategies


available. Picking up a marketing strategy includes
analyzing the needs of your business, your target
audience and specifications of your products.
The two main types of marketing strategy are:
1. Business to business (B2B) marketing
2. Business to consumer (B2C) marketing
The most common form of marketing is business to
consumer (B2C) marketing. Let’s explore a bit more.
TYPES OF MARKETING
STRATEGIES….
• Paid advertising
• Cause marketing
• Relationship marketing
• Undercover marketing
• Word of mouth
• Internet marketing
• Transactional marketing
• Diversity marketing
• Paid advertising
This includes multiple approaches for marketing. It includes
traditional approaches like TVCs and print media advertising. Also,
one of the most well-known marketing approach is internet
marketing. It includes various methods like PPC (Pay per click) and
paid advertising.
• Cause marketing
Cause marketing links the services and products of a company to a
social cause or issue. It is also well known as cause related
marketing.
• Relationship marketing

This type of marketing is basically focused on customer building.


Enhancing existing relationships with customers and improving
customer loyalty.
• Undercover marketing

This type of marketing strategy focuses on marketing the product


while customers remain unaware of the marketing strategy. It is also
known as stealth marketing.
• Word of mouth

It totally relies on what impression you leave on people. It is


traditionally the most important type of marketing strategy. Being
heard is important in business world. When you give quality services
to customers, it is likely that they’d promote you.
• Internet marketing

It is also known as cloud marketing. It usually happens over the


internet. All the marketing items are shared on the internet and
promoted on various platforms via multiple approaches.
• Transactional marketing
Sales is particularly the most challenging work. Even for the largest retailers,
selling is always tough especially when there are high volume targets.
However, with the new marketing strategies, selling isn’t as difficult as it was.
In transactional marketing the retailers encourage customers to buy with
shopping coupons, discounts and huge events.
• Diversity marketing
It caters diverse audience by customizing and integrating different marketing
strategies. It covers different aspects like cultural, beliefs, attitudes, views and
other specific needs.
ADVANTAGES

• Improved efficiency
• Targeted Approach
• Better Information
• Branding
DISADVANTAGES

• Getting Struck
One of the main disadvantages of a marketing strategy is the dependency
caused by small companies. Generally, they have to follow the strategy to the
end no matter what consequences it offers. A lot of resources and effort can
get wasted if the marketing strategy fails or gets changed.
• Decreased Value
There are more chances of a decrease in the perceived value of the product
or service, the longer a marketing promotion lasts. That’s why keeping
promotions can prevent the long-term damage to the overall pricing strategy.
CONCLUSION

Marketing strategies have made it much


easier to promote products and services.
They also limit the strategy to target
audience ensuring the proper
advancement of the business.
THANK
YOU…

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