Procedure for creating marketing strategy
|Procedure for creating marketing strategy|
Marketing strategy is a set of medium-and long-term policies, which create market-based operational activities. The formulation of this strategy is decision making process that involves setting the problem areas, and then selecting of optimal solutions and implementation actions.
- Level of the corporation
- Level of strategic business unit
Strategy at the level of corporation
Business unit strategy
Bermuda triangles means areas of the business, in which it is not possible to determine optimal marketing strategy
- Strategy of preference - customers, so called brand customers pay little attention to the price, but the essential thing is for them is quality and brand of product,
- Strategy price-quantity is targeted to buyers who pay attention to the price, the company's activity is based on the principle: large volume-small unit profit
Another ways to impact the market are:
- Mass-marketing strategy - aimed for the average buyer,
- Differentiated marketing strategy - based on the distinction of market segments
- Sheth, J. N., & Sisodia, R. S. (2015). Does marketing need reform?: Fresh perspectives on the future. Routledge.