Marketing Strategies

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					Marketing Strategies


BMI3C
The Marketing Strategy

 A marketing strategy outlines how the
  company will carry out the marketing
  plan.
The Marketing Plan
1. States the marketing goals of the business
   eg. To introduce a new product; To gain interest in a cause; To
   promote an idea
       describes the target markets
       lists as many competitors as possible
2. Research
       creates a plan for gathering and analyzing information that will
        support or alter the initial marketing goals in step 1
3. State how the product will be positioned in the
   marketplace. Based on steps 1 & 2, this plan should:
       provide a rationale for these positioning statements
       describe the methods that are needed to differentiate the
        product in the market
4. Include a section on selected pricing strategy (a rationale
   for setting the price)
The Marketing Plan
5. Describe the channel of distribution
       existing channels
       future distributions to the consumer
       the logistics involved
6. Set up a promotional proposal.
 This section should provide:
       a rationale for the creation of the advertising message
       select the media that will be used to convey the
        message
       outline the various promotional activities.
       make a sales forecast based on the new marketing plan
       indicate how the marketers will monitor the plan’s
        success
Brand Strategies

 The primary goal of brand strategy is to show
  the consumer the value of the product.
 The consumer must be convinced that the
  expectations outweigh the costs.
      Costs = money + time spent finding the product +
       energy to acquire and set it up, etc.
      Cost could also include personal costs (i.e.
       prestige, status, appearance, reputation, etc.)
The value equation

 A value equation adds together all the
  benefits of a product and subtracts the
  costs involved
 The benefits and the costs are assigned
  values that represent their importance to
  the consumer
 The consumer will only purchase a
  product if it has a positive value
      Example

       March Break Trip to
        Cuba
Benefit                 Value /10

Pleasure                6

Prestige                4

Adventure               7

Tan                     3
   Example

    March Break Trip to
       Cuba
Cost                 Value /10

Monetary Cost        10

Health/Safety        5

Timing               4

Complexity           2
Example

 Total Benefits (20) - Total Costs (21) = -1
 Therefore you are unlikely to go on this
  trip
Example

 If, however, the Cuban tourism association runs
    an ad campaign that makes Cuba look
    awesome, maybe your “pleasure” rating goes
    up 2 points.
   On top of this, they make it look very safe,
    lowering your “safety” cost by 2 points.
   Now:
   Total Benefits (22) - Total Costs (19) = +3
   Therefore you are likely to go on this trip
Brand Image

 Packaging, brand names, slogans, and
  trademarks are used to develop a
  positive brand image.
 This image is communicated to the
  consumer through advertising and
  promotional activities.
Distribution Strategies

 Distribution strategies focus on the
  best way to deliver a product to the
  target market.
 There are 3 ways to achieve this type of
  goal:
     Push Strategy
     Pull Strategy
     Combination
Push Strategy

 Sell the product to the retailer
 The idea is that if the product is out
  there, the consumer will see it & they will
  buy it
 Promotional activities are focused on the
  distributor
      Buying incentives (promotional discounts),
       prizes, display fixtures encourage the store
       to carry the product.
Pull Strategy

 Attempts to increase consumer demand directly
 Manufacturers try to convince the consumer to
  buy their brand name product
 This requires major advertising and promotional
  effort
 It also requires distribution partners to fulfill the
  demand – consumers demanding your product
  can open up new distribution channels
Combination

 Push and pull strategies are often
  combined
 The pull strategy needs to combine with
  the push strategy to be effective;
  however, the push strategy can stand
  alone

				
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posted:10/2/2012
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