Marketing Gets Lost In The Crowd
- Topics:
- Marketing Strategy
- Source:
- MarketingProfs
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Overview: The article asserts that in many business settings, strategy is a word that has cachet. In terms of a marketing strategy, if the objective of marketing is to select, serve and satisfy customers in a profitable manner, then a marketing strategy is the way a company accomplishes those objectives, which may include segmentation studies, competitive analysis, and the tactical 4 Ps (Promotion, Place, Product, Price). Market timing and speed are critical to many industries, such as technology, pharmaceuticals, and some consumer goods. Many people are familiar with the SWOT technique as a way to analyze a company's current situation, to brainstorm, and to develop new strategies. Co-marketing and co-branding are popular today as ways to leverage market relationships, product/service complements and others' expertise or experience. Many companies are finding out today that there is no perfect strategy. In reaching those objectives, it is important to continually test the marketing strategy in terms of the competition and its ability to succeed, especially in dynamic or early lifecycle industries.
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Format: HTML | Date: Jan 2003 | Pages: 1
