Latest Marketing Strategy

Marketing participants often employ strategic models and tools to analyze marketing decisions. When beginning strategic analysis, the 3Cs can be employed to get a broad understanding of the strategic environment. An off Matrix is also often used to convey an organization’s strategic positioning of their marketing mix. The 4Ps can then be utilized to form a marketing plan to pursue a defined strategy. There are many companies especially those in the Consumer Package Goods (CPG) market that adopt the theory of running their business centered on Consumer, Shopper & Retailer needs. Their Marketing departments spend quality time looking for “Growth Opportunities” in their categories by identifying relevant insights (both mindsets and behaviors) on their target Consumers, Shoppers and retail partners. These Growth Opportunities emerge from changes in market trends, segment dynamics changing and also internal brand or operational business challenges. The Marketing team can then prioritize these Growth Opportunities and begin to develop strategies to exploit the opportunities that could include new or adapted products, services as well as changes to the 7Ps.

It consists of activities undertaken to create, maintain or change attitudes or behavior towards particular people like politicians, sports stars, film stars, professionals to promote their careers and income. Marketing through creating, maintaining and enhancing strong long-term relationships with customers in order to win his loyalty e.g. a restaurant can build relationships with customers by sending him wishes and discount offers on his birthdays. It refers to balancing the fluctuations in irregular demand for a product due to seasons, timings etc, through flexible pricing, promotion and other incentives e.g. heavy off-season discount on woollens may increase its demand to some extent. Marketing through creating, maintaining and enhancing strong long-term relationships with customers in order to win his loyalty e.g. a restaurant can build relationships with customers by sending him wishes and discount offers on his birthdays.

Related posts: