1. Marketing Strategy
Jeremy Kees, Ph.D.

2. Marketing Strategy
Marketing strategy: a firm’s overall program for selecting and satisfying a target market
A marketing strategy is aimed at satisfying consumers in the selected target market through a careful balance of the elements of the marketing mix – each of which represents a subset of the overall marketing strategy
2 Key elements in marketing strategy
Target Market
Marketing Mix Variables

3. Successful Strategies: Tools and Techniques
All planning strategies have the goal of creating a sustainable competitive advantage for a firm
This is achieved through focusing on a firm’s core competency

4. Successful Strategies: Tools and Techniques
A core competency is…
The source of the competitive advantage that is the source of value to the consumer
Is difficult for competitors to imitate
Has applications in a wide variety of markets
The core competency (competitive advantage) should drive strategic planning at the organizational and divisional levels

5. Target Market
Group of people toward whom the firm decides to direct its marketing efforts
Toyota
Anheuser Busch

6. Marketing Mix Variables
Product Strategy
Place (Logistics and Distribution) Strategy
Promotional Strategy
Pricing Strategy

7. Product Strategy More than just the product or service offered
Deciding what goods or services to offer consumers
Decisions concerning customer service,
package design,
brand names,
trademarks and patents,
warranties,
product positioning, and
new product development.
One key decisions is:
First versus Second Mover Strategy

8. Distribution Strategy
Ensures that consumers find their products in the proper quantities at the right times and places.
Transportation modes.
Warehousing.
Inventory control.
Order processing.

9. Promotional Strategy
Blending together the various elements of promotion to communicate most effectively with the target market
Informing, persuading, and influencing a consumer’s purchase decision.
IMC

10. Pricing Strategy
Deals with the methods of setting profitable and justifiable prices