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Marketing strategies Essay Example

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Marketing strategies

Therefore, marketing strategy is a process that the marketers follow as it facilitates the firm in focusing and paying attention to their resources lying on the opportunities. The effective marketing strategy would not only boost the level of sales but could become a leading reason for gaining an edge over the competitors (pp. Pride & Ferrell, pp. As according to the author Seema Gupta, “strategic marketing is best seen as an ongoing and never-ending process” (pp.The Business Dictionary defines marketing strategy as “A strategy that integrates an organization’s marketing goals into a cohesive whole. Ideally drawn from market research, it focuses on the ideal product mix to achieve maximum profit potential. The marketing strategy is set out in a marketing plan” (BusinessDictionary. To put it in other words, four Ps that take account of product, price, place and promotion are they key aspects that marketing strategies emphasize. Furthermore, these strategies are comparatively high-level plans that are often interactive and dynamic. The marketer values the four Ps of marketing that are product, price, promotion, and place while defining the marketing strategy as it requires the marketing mix with the intention to draw the target markets’ attention towards the product or service. Therefore, the target market symbolises the marketing strategy decisions that encircle the four Ps (Ferrell & Hartline, pp.According to some schools of thoughts, effective marketing strategy is a two-step process that comprise of making a verdict about who matters, and being different. The first step of effective marketing strategy defines that the organisation develops the strategies that classifies a contracted target profile. Moreover, the strategies must come under development that allures and fascinates to the target audience. However, while being different and having a unique selling point with the products or services, the enterprise would be able to differentiate themselves in comparison to the competitors (Ferrell & Hartline, pp.To be different from others is imperative in order to have marketing strategy to be effective. Differentiation is moderately making and portraying the products and services in such a way that the organisation appears to be different, distinctive, inimitable, and far better than what the competitors present or offer. This

References

Bateman. 2008. Management 8E (Sie). Tata McGraw-Hill Education.

BusinessDictionary.com. 2011. Marketing Strategy - Definition. Retrieved on December 03, 2011: http://www.businessdictionary.com/definition/marketing-strategy.html

Carevans. 2009. Strategic Marketing 8E. Tata McGraw-Hill Education.

Ferrell, O. C. & Hartline, Michael. 2010. Marketing Strategy. Cengage Learning.

Gupta, Seema. 2009. Branding and Advertising. Global India Publications.

Hooley & Graham Hooley. 2008. Marketing Strategy and Competitive Positioning. Pearson Education India.

Hoyer, Wayne D. & Macinnis, Deborah J. 2009. Consumer Behavior. Cengage Learning.

Lamb, Charles W. & Hair, Joseph F. & McDaniel, Carl. 2011. Essentials of Marketing. Cengage Learning.

McDonald, Malcolm & Dunbar, Ian. 2004. Market segmentation: how to do it, how to profit from it. Butterworth-Heinemann.

McDonald, Malcolm & Mouncey, Peter. 2011. Marketing Accountability: A New Metrics Model to Measure Marketing Effectiveness. Kogan Page Publishers.

Mercer, David. 1996. Marketing. Wiley-Blackwell.

Pride, William M., & Ferrell, O. C. 2006. Marketing: concepts and strategies. Cengage Learning.

Wright, Ray. 2006. Consumer Behavior. Cengage Learning EMEA.

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preview essay on Marketing strategies
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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