Presentation on theme: "Marketing Strategy “Marketing” by Paul Baines, Chris Fill and Kelly Page. Referenced throughout. ARRIVAL coaching has put the content into a simpler and."— Presentation transcript:
Marketing Strategy “Marketing” by Paul Baines, Chris Fill and Kelly Page. Referenced throughout. ARRIVAL coaching has put the content into a simpler and easier layout to understand.
Objectives To gain an understanding of the importance of a marketing strategy Understand how to set up a marketing strategy
Introduction A marketing strategy cannot be completed without completing a business strategy. Baring in mind that marketing is the “ management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A marketing strategy focuses on how this can be achieved with the end result typically an increase of revenue and profitability through product diversification/ development, market development/ diversification, brand development, increased distribution channels
Benefits of a marketing strategy Assists in achievement of the business strategy With a focused goal it can encourage the development of products; which enable the business to become market leaders Increase the brand value Increase brand/ product awareness Identify new products/ markets
What is needed to set up a marketing strategy? Need to consider:- – Resources and capabilities (within company) – The external (macro environment) – Competitors (Porter’s 5 forces) – Target customers (demographics, geographic, psychographics) – CREATIVITY TO THINK OF SOMETHING UNIQUE. This can be achieved through structured market research (qualitative/ quantitative & secondary vs primary data) and undertaking a SWOT analysis.
Need to consider Organisation’s vision Organisation's value Organisation’s mission The business strategy
Marketing Mix The marketing mix – Product – Price – Place – Promotion
Promotional Mix Advertising Public Relations Direct Marketing Personnel selling Offers Sponsorship
DIGITAL MARKETING CREATE A LOT OF ONLINE NOISE. ONLINE PRESENCE IS VITAL. ANYTHING ELECTRONIC WITH A SCREEN NEED TO HAVE YOUR BRAND. -Social Media -Website -Email campaigns -Analytics -eSurveys/ feedback/ contact forms …. Just a few examples of digital marketing.
OVERALL SET GOALS & OBJECTIVES. IDENTIFY RESOURCES AND CAPABILITIES IDENTIFY COMPETITORS RESEARCH THE EXTERNAL ENVIRONMENT IDENTIFY TARGET CUSTOMERS Then …. DEVELOP MARKETING MIX DEVELOP PROMOTIONAL MIX + set up your online presence.