Marketing Strategies
marketing strategy is a plan of action to achieve long term goals or aim of organization
Marketing Strategies are six major types
1.Market scope strategy 2.Market entry strategy
3.Market product strategy 4.Market promotion strategy
5.Market distribution strategy 6.Market pricing strategy
Market scope strategy
Market scope strategies are 3 types
1.Single market scope strategy
– it serve the market wholeheartedly and only have a single market
2.Multy market scope strategy
– it have a different geographical market and it has two components
( i )competitive pricing
( ii).new product introduction
3.Total market scope strategy
it serves the entire spectrum of the market with differentiated product to different segment.
Market Entry Strategy
this is very crucial strategy in the market.This strategy is decides how the company can entire in a particular market. this market is full with costumers.
1 First entry strategy
they are innovators or risk takers. they innovate a particular product.( ex: Johnson & Johnson bay )
2.Early entry strategy
those who inter in the market just after the first innovates. (ex:- me me brand)
3. Laggards entry strategy
those entrants who enter very late in the market (ex: Himalaya baby brand)
Product strategy
This is very important strategy. because the product is the main part of every types.
there are five types
1.product positioning strategy
you are positioning your product in the mind of a customer and making your product stand out of the crud(other competitor)
2.product repositioning strategy
when your product is already positioned in the market, you have to revive whether it is working or not and take the corrective steps to newly repositioning the product in the market to mind your costumers.
3.product scope strategy
deals with the marketing mixes of this strategy. you have to decide what kind of marketing mix to use this strategy.
4.product design strategy
deals with the standardization of the product.
5.New product strategy
in this strategy companies bring the new version of the product.
relaunch the product as a new product
Promotion strategy
this is three types
1. Promotion mix strategy
deals with the different promotion mixes of the company. there are five types.
- product factor
- Market factor
- costumer factor
- Budget factor
2. Media selection stategy
deals with the selection of the media channel
3. Advertising copy strategy
the company select the content of the particular advertisement which they are going to advertise their products.
Distribution strategy
there are two types of distribution strategy.
1. distribution scope strategy
company established the scope of the product( target matket)
2. Multi-pal channel strategy
company decide the different channel which they going to adopt for the distribution of their goods for their particular services.
Pricing strategy
their are four types
1.Pricing for new product
skimming :-company choose the higher price for the product
penetration:-company choose lower price for the product
2. Pricing for established product
the company choose going rate approach is following the price of the leader of the particular competitor in the market
3.Pricing flexibility strategy
one price :- one price for all costumers
flexible price:-different price for different customers
4.Pricing leadership strategy this strategy adopted by leader of the market
Thank you