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Understanding Marketing Strategy : A Quick Intro.

Marketing, in simple words - It's the Art of satisfying the needs of customer. Any business with a successful marketing strategy seems to have established a brand identity. A good strategy is said to be the one which is well-analyzed and well-established.

First Element : Well-Analyzed.

Scrutinizing pros and cons of different marketing decisions involves a deeper analysis. For example, you are creating a strategy for a niche customer category, let's say pet owners. You are a brand which sells food products for pets. The first thing you would do is to analyze the number of pet owners in your targeted area, then you would see the type of pet breeds that each owners has and then you would categorize the customers as cat owners, dog owners etc.

The word 'categorization' in marketing terms is known as customer 'segmentation'. Once you have segmented the market, you would choose the market which can give you a high profitability or the one which has high demand. After that you have would have to conduct an extra deeper research on the product, see what all ingredients are non-allergic to pets and various aspects related to it.

This is how a strategy is said to be well analyzed.

You can also consider SWOT, EBT-EPS and other analysis as an measure to plan your strategy, https://blog.hubspot.com/sales/strategic-planning-models

Second Element : Well-Established

The first and foremost aspect you have to consider is that your marketing strategy aligns with the vision and mission of the company. Then you could tell that your strategy is well-established.

Discuss your marketing strategy with other departments, rectify any deviation and Viola! Your Strategy can be Implemented. Madhu T

[themarketingmaestro]

Understanding Marketing Strategy : A Quick Intro.

Marketing, in simple words - It's the Art of satisfying the needs of customer. Any business with a successful marketing strategy seems to have established a brand identity. A good strategy is said to be the one which is well-analyzed and well-established.

First Element : Well-Analyzed.

Scrutinizing pros and cons of different marketing decisions involves a deeper analysis. For example, you are creating a strategy for a niche customer category, let's say pet owners. You are a brand which sells food products for pets. The first thing you would do is to analyze the number of pet owners in your targeted area, then you would see the type of pet breeds that each owners has and then you would categorize the customers as cat owners, dog owners etc.

The word 'categorization' in marketing terms is known as customer 'segmentation'. Once you have segmented the market, you would choose the market which can give you a high profitability or the one which has high demand. After that you have would have to conduct an extra deeper research on the product, see what all ingredients are non-allergic to pets and various aspects related to it.

This is how a strategy is said to be well analyzed.

You can also consider SWOT, EBT-EPS and other analysis as an measure to plan your strategy, https://blog.hubspot.com/sales/strategic-planning-models

Second Element : Well-Established

The first and foremost aspect you have to consider is that your marketing strategy aligns with the vision and mission of the company. Strategies are formed to achieve the overall objectives of an organization.

Simply selecting a brand name or a slogan for a product, must be created with keeping the overall vision and mission in mind. Successful marketing strategies are those which positions the company in the mind of customers.

Vision focuses on WHO - for whom is the value provided.

Mission focuses on WHAT - what is to be achieved

Strategy focuses on HOW - How will the vision and mission can be achieved.

If these three aspects are well defined in your marketing strategy, then you could say your strategy is well-established. There are millions of Brands around the world, yet the one who are successful are those who have positioned the brand in the mind of the customers.

Well Begun is Half Done!

Madhu T