2 What are marketing strategies? Marketing strategies are a process of using the marketing mix to satisfy and attract consumers to make a profit for the organization.There are many types of strategies such asMarket Scope StrategyProduct StrategyPromotion StrategyPricing StrategyDistribution Strategy
3 Types of Marketing Strategy MARKETING StrategiesTypes of Marketing StrategyThere are two levels of strategizingsGeneral Marketing StrategiesDecision Area Strategies
4 Decision Area Strategies MARKETING StrategiesDecision Area StrategiesUsed to achieve general marketing strategies by considering the 4p’s and the 2c’sGeneral Marketing StrategiesThis concept describes how marketing will achieve an objective
5 General Marketing Strategies Can be apart of the following categories:Market ExpansionMarket Share GrowthNiche MarketStatus QuoMarket Exit
6 Marketing Expansion MARKETING Process Used to grow overall sales There are two approachesGrow Sales with existing productThis is done by getting existing customers to buy more, getting potential customers to buy and selling current products in new marketsGrow Sales with New ProductIntroduce updated versions of a existing product, introduce products that are extensions of a current product or just introduce products that were not previously marketed
7 Marketing Share Growth MARKETING ProcessMarketing Share GrowthUsed to increase market share of a companyBest way: Take sales away from competitors
8 MARKETING ProcessNiche MarketThis strategy focuses on getting a segment of the overall marketThis focuses on getting the product introduced to the larger markets as a different and unique product.
9 MARKETING ProcessStatus QuoThis is a strategy used to keep the current position of a marketer in the market.Ex. Maintaining the same market share
10 Market Exit MARKETING Process This strategy is getting rid of the product in the marketThis can be done by removing the product from the company’s product mix or by selling it to another organization.
11 Decision Area Strategies MARKETING StrategiesDecision Area StrategiesThere areas that support decision area strategies areTarget Market StrategyProduct StrategyPricing StrategyDistribution StrategyPromotion Strategy
12 Target Market Strategy Have segmenting techniques MARKETING ProcessTarget Market StrategyHave segmenting techniquesProduct StrategyDevelop and introduce a new productPricing StrategyLowering your prices compared to competitorsDistribution StrategyGaining relationships with important distribution partners that serve the target marketPromotion StrategyBring awareneess of the product to the target market