What is a marketing / marketing strategy ? Marketing strategy can be interpreted as an effort to market a product using a planned pattern or method so that it gets a higher level of sales.
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Understanding of Marketing Strategy
Marketing / marketing strategies have a significant role in a company or business. Marketing / marketing strategies are the spearhead of a company whose purpose is to introduce products and increase sales of goods or services.
According to Expert Marketing Strategies are as follows:
Marketing strategies are also defined differently by several experts, including:
- Kurtz (2008)
“It is the company’s overall program to determine target markets and satisfy consumers by building a combination of elements from the marketing mix; product, distribution, promotion and price. “
- Philip Kotler
“It’s a marketing concept that will be used to achieve marketing objectives, wherein there are detailed strategies regarding the target market, positioning, marketing mix, and budget for marketing.”
“The marketing strategy is a fundamental tool designed to achieve corporate goals by developing sustainable competitive advantage across the markets that are entered, as well as marketing programs that are used to serve these target markets.”
Some definitions of marketing strategies above if summarized into a concept or effort in achieving marketing objectives by means or tricks related to, setting targets, marketing products, to using a marketing mix or marketing mix to maximize sales of goods or services.
Benefits of Marketing Strategies
In a company or business, the establishment of a marketing strategy has benefits or functions as follows:
- Increase Motivation
The formation of this marketing strategy is useful to increase the motivation of company management in an effort to see the future. It also aims to maintain and ensure the sustainability of the company in the future.
- Coordinate Marketing
This marketing strategy is useful to coordinate marketing efforts in the company so that it is more effective and efficient. So marketing in the company only runs according to the strategy of the company that has been made.
- Formulate Company Objectives
Company goals can also be determined through marketing strategy. Moreover for companies whose main sector is sales. With the company’s strategy, business actors will be encouraged to make detailed objectives to be achieved, both short and long term.
- Supervision of Marketing Activities
Not just coordinating, but also functions as a supervisor in the course of the company’s marketing activities. So, marketers can more easily and work according to effective quality.
Types of Marketing Strategies
Generally there are 3 types of marketing strategies that can be carried out by a company, namely:
- Undifferentiated marketing
The first type of marketing strategy is undifferentiated marketing or does not discriminate the market. This stretch assesses that all markets are marketing targets. Because overall, the company is only trying to attract targets with a single plan or marketing / marketing strategy.
- Differentiated marketing
This type of strategy is a strategy that discriminates the market, meaning the products produced by the company are only aimed at certain groups, not the group as a whole. For example, baby diaper companies only target consumers, babies or mothers with babies. Or it could be that the company has many products marketed in different market segments according to the needs of consumer groups.
- Concentrated Marketing
Whereas this type of concentrated marketing strategy specializes in marketing products in only a few market segments by considering the limited resources of the company.
The advantage of this strategy is that the company gets a strong position in the segment it chooses because the company is more focused on just one. While the drawback is there is a big risk if it only depends on one target market, for example if it loses competitiveness with other companies that are better.
Example of a Marketing Strategy
Well, there are some examples of marketing strategies that are used in companies in general, among them are:
This marketing strategy is a strategy by collaborating with other parties. This strategy has the advantage that it is considered more cost effective and has more potential for success.
- Collaborate with Influencer
Collaborating with influencers is also one example of the marketing strategy that is widely used by many companies. Influencers are usually chosen figures who are often followed by market segment groups that are the target of marketing. Nowadays, many selelgram chosen by companies to promote their products, especially if the target market is millennial children who are familiar with Instagram. The goal is not only to introduce products, but also to increase sales.
- Involving Employees
Another example is involving employees in marketing strategies such as creating funny advertisements or other promotions. Involving employees has a double benefit because employees will feel very proud and will also be happy to share company advertising videos.
- Keeping Old Customers
Keeping old customers is also a reliable marketing strategy. Because old customers are the most loyal people in buying company products. How, the company gives a small bonus in order to keep old customers from moving to other companies.