Constructing A Marketing Strategy
- Created by: Benjhigg
- Created on: 01-07-15 12:24
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- Constructing A Marketing Strategy
- How could the business overcome competitors and gain customers?
- A marketing strategy's primary goal is to defeat competitors and win over customers.
- This leads to 'Market Warfare'
- Offensive
- Designed to attack competitors head-on. It targets target customers of competing businesses in the belief they could be won over by a better deal
- Defensive
- Focusing on keeping a share of the market and maintaining. Small retails adopt this strategy against larger retailers. Affected by customer service and level of product mix
- Flanking
- When impossible to attack, a new market must be found. Adopted by small-scale highstreet retailers.
- Guerrilla
- Relying on the element of surprise. This approach might be suitable when a smaller business faces competition from a larger business. They will need to identify the larger business's potential weaknesses and attack these in short bursts.
- Offensive
- This leads to 'Market Warfare'
- A marketing strategy's primary goal is to defeat competitors and win over customers.
- What are the key features and competitor behaviour?
- The marketing strategy will be misguided if the business does not understand how customers and competitors might respond to its marketing activities
- What are the marketing capabilities of the business?
- The business should have the marketing resources to carry out the marketing strategy, including expertise and finances
- Which Marketing Objective does the strategy achieve?
- Without clear marketing objective, a marketing strategy will have no direction
- How could the business overcome competitors and gain customers?
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