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INTRODUCTION
A marketing strategy is a process that can allow an organization to concentrate its (always limited)
resources on the greatest opportunities to increase sales and achieve a sustainable competitive
advantage. Marketing strategy as a key part of the general corporate strategy marketing strategy is
most effective when it is an integral component of corporate strategy, defining how the organization
will engage customers, prospects and competitors in the market arena for success. It is partially
derived from broader corporate strategies, corporate missions, and corporate goals. They should
flow from the firm's mission statement. They are also influenced by a range of micro environmental
factors. Marketing strategy and sectarian tactics and actions: A marketing strategy also serves as the
foundation of a marketing plan. A marketing plan contains a set of specific actions required to
successfully implement a marketing strategy. For example: "Use a low cost product to attract
consumers. Once our organization, via our low cost product, has established a relationship with
consumers, our organization will sell additional, higher-margin products and services that enhance the
consumer's interaction with the low-cost product or service."A strategy consists of well thought out
series of tactics. While it is possible to write a tactical marketing plan without a sound, well-
considered strategy, it is not recommended. Without a
sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as
thefundamental underpinning of marketing plans designed to fill market needs and reach
marketingobjectives[3]. It is important that these objectives have measurable results.A good
marketing strategy should integrate an organization's marketing goals, policies,
andaction sequences (tactics) into a cohesive whole. Many companies cascade a strategy
throughoutan organization, by creating strategy tactics that then become strategy goals for the next
level or group. Each group is expected to take that strategy goal and develop a set of
tactics to achievethat goal. This is why it is important to make each strategy goal
measurable.M a r k e t i n g s t r a t e g i e s a r e d y n a m i c a n d i n t e r a c t i v e . T h e y a r e p a r t i a l
l y p l a n n e d a n d p a r t i a l l y unplanned. See strategy dynamics.
Every marketing strategy is unique, but if we abstract from the individualizing details, each can be
reduced into a generic marketing strategy. There are a number of ways of categorizing thesegeneric
strategies. A brief description of the most common categorizing schemes is
presented below:Strategies based on market dominance - In this scheme, firms are classified based
on their
markets h a r e o r d o m i n a n c e o f a n i n d u s t r y . T y p i c a l l y t h e r e a r e t h r e e t y p e s o f
m a r k e t d o m i n a n c e strategies:
Leader
•
Challenger
Follower Porter generic strategies - strategy on the dimensions of strategic scope and
strategic strength. Strategic scope refers to the market penetration while strategic
strength refers to the firm’s sustainable competitive advantage.