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MARKETING STRATEGY

By definition an organization's strategy combines all of its marketing goals into a singular complete plan. The core of a marketing strategy should be based on market research.

The market research should answer the basic questions:

๐  Who is your target audience?
๐  What is important to your target audience?
๐  How does your product/service fill their needs?
๐  How do you reach your customer?
๐  Who is your real competition?
๐  What makes your product/service different from competitors?
 

Your marketing strategy is shaped by your business goals which is used to create marketing goals leading to the creation of your marketing plans

 

PROCESS STRATEGY

Process strategy is the flow or patterns of decisions made in managing individual processes to achieve business goals. A process involves the use of resources to provide product/service. Underlining "sub" strategies are used to determine the best process strategy to adopt for the organization

Basic Strategies:

๐  Process focus
๐  Repetitive focus
๐  Product focus
๐  Mass customization
 

 

TECHNOLOGY STRATEGY

An organization's information technology/ IT strategy) is the comprehensive plan relating to use of the technologies within a particular organization.

A technology strategy should cover all areas of technology management including:

๐  Financial Management
๐  Human Capital(Personnel)Management
๐  Vendors Selection amd Management
๐  Risk Management
๐  Hardware and Software management
๐  and other considerations used to reach organizational goals
 

 

PRICING STRATEGY

Pricing strategy is an important issue because it is related to product positioning in the product/service marketplace, Pricing strategy used to achieve success by finding the "sweet spot" where a price point can maximize sales and profits.

Pricing methods that can be used to set the specific price level that achieves their pricing objectives:

๐  Cost-plus Pricing
๐  Target Return Pricing
๐  Value-based Pricing
๐  Psychological Pricing
 

 

DIGITAL STRATEGY

Digital strategy is the process of identifying, communicating and executing on various online opportunities to increase your organization's competitive advantage. Developing a good digital strategy is important because implemented correctly should prove to be the lowest cost of marketing for reaching your customers

These strategies may include:

๐  Search Marketing
๐  Social Media Marketing
๐  Online Reputation Management
๐  Email Marketing
๐  Affiliate Marketing
 

Your marketing strategy is shaped by your business goals which is used to create marketing goals leading to the creation of your marketing plans

 

 

 
 
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