MARKETING STRATEGIES

A strategy is a method to carry out an action plan to reach a goal. A marketing strategy explains how a company will carry out the marketing plan, its goals, and the marketing mix formula to achieve those goals. BMI3C Unit 1 Slide 2

MARKETING STRATEGIES The Marketing Plan contains: a section outlining marketing goals of the business target market(s) a list of as many competitors as possible BMI3C Unit 1 Slide 3

MARKETING STRATEGIES The Marketing Plan contains: a research section, with a plan for gathering and analysing info how the product will be positioned, with rationale pricing strategy BMI3C Unit 1 Slide 4

MARKETING STRATEGIES The Marketing Plan contains: distribution channels & logistics promotional and advertising proposal BMI3C Unit 1 Slide 5

MARKETING STRATEGIES Brand strategies The primary goal is to communicate the value of a product or service to the consumer. value = - BMI3C Unit 1 Slide 6 perceived benefit perceived cost

MARKETING STRATEGIES Brand strategies see example on page 26 It attempts to position the product or service by creating a positive value equation in the consumer’s mind. BMI3C Unit 1 Slide 7

THE VALUE EQUATION GROUP ACTIVITY

MARKETING STRATEGIES Distribution strategies Focus on the best way to deliver a product/service to the target market. BMI3C Unit 1 Slide 9 MANUFACTURERRETAILERCONSUMER

MARKETING STRATEGIES Distribution strategies PUSH: “If the product is out there where people will see it, they will buy it.” focus on selling the good to the retailer, importer or wholesaler BMI3C Unit 1 Slide 10

MARKETING STRATEGIES Distribution strategies incentives, promotions, product display case offered in exchange for product placement The manufacturer needs to push the product through the chain BMI3C Unit 1 Slide 11

MARKETING STRATEGIES Distribution strategies PULL: “increase distribution by increasing consumer demand” focus is on selling the good to the consumer BMI3C Unit 1 Slide 12

MARKETING STRATEGIES Distribution strategies convince consumers that they need the product, and that specific brand requires a strong advertising and promotions campaign BMI3C Unit 1 Slide 13

MARKETING STRATEGIES Distribution strategies The pull strategy is difficult to use alone, the push strategy can be. Most strategies use a combination of the two. BMI3C Unit 1 Slide 14

MARKETING AND ORGANIZATIONS Companies can organize based on how they market Regional – West, central, Atlantic International – Asia, North America, Europe Brand – i.e. (Proctor and Gamble), Tide, Pringles, Folgers, Ivory soap Distribution – stores, hotels, airlines, vending machines