Marketing Innovation:

Competitive Strategy

Marketing Strategy

In the Rapidly Changing Market Place

What is Marketing Strategy?

Marketing strategy is essentially a pattern or plan that integrates your organization's major goals, policies, and action sequences in a cohesive whole.

Marketing strategies are generally concerned with four Ps: product strategies, pricing strategies, promotional strategies, and placement strategies.

The focus of marketing strategies must the objectives to be achieved – not the process of planning itself.

How To Achieve High Visibility In Your Target Market

10 Strategic Tips

By: Glenn Ebersole

Strategic Tip #8: DON’T expect prospects to come to you without you reaching out to them. Don’t expect anything to happen if you don’t initiate contact... More

Market Leadership Strategies

The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More

SWOT Analysis: Questions To Answer

• What do you offer that makes you stand out from the rest?

• Do you have any specific marketing expertise?... More

Modern Customer-based Relationship Approach

In today's customer-driven economy, corporations must move from product-based campaign marketing to a customer-based relationship approach. Customer relationship management is the management of customer communication over a relationship continuum. It includes relationship strategy and multi-channel relationship programs that produce both business value and customer experiences on a scale not seen in traditional marketing.⁷... More

Competitive Strategies

To be successful today, your company must become competitor-oriented. You must pursue the right competitive strategy – avoid strengths of your competitors and look for weak points in their positions and then launch marketing attacks against those weak points.³... More

Differentiation Strategy

The key to successful marketing is differentiation. "If consumers don't perceive your brand(s) as being different from those offered by the competition, you won't win the marketing war. The battle for consumer minds is a battle of perceptions not products."² Thus, "differentiation is one of the most important strategic and tactical activities in which companies must constantly engage. It is not discretionary."¹... More

Keys To Branding Your Business

By: Jay Lipe

Shaping your brand image: To start, consider first the personality of your company. Is it sexy or sweet? Tough or tender? Is it more like John Wayne or George Clooney or Andy Griffith? And if you think all this is hooey, consider these questions: Do Marlboros really taste better than other cigarettes? Is H&R Block superior to the tax accountant down the street? No, but a big reason these companies are leaders is because they have successfully built a personality around their brands... More

Test Marketing Your New Products or Service

How do you test market a new product or service? How do you find out if people are actually going to buy it? First, make or get a prototype. Create or get a sample. If it's being manufactured somewhere else, get a sample of it. If you're going to manufacture it yourself, create a prototype so that you can show it, demonstrate it, photograph it. So that you can let people see it, touch it, feel it, and get an opinion from it... More

 Case in Point  Jacuzzi

"In the 1950s the Jacuzzi brothers invented a whirlpool bath to treat people with arthritis. Although the product worked, it was a sales flop. Very few people in the target market, sufferers from arthritis, could afford the expensive bath. So the idea languished until they tried relaunching the same product for a different market – as a luxury item for the wealthy. It became a big success."⁶

Bibliography:

1. "Differentiate or Die," Jack Trout with Steve Rivkin

2. "The 22 Immutable Laws of Marketing in Asia," Al Ries, Jack Trout and Paul Temporal

3. "The Power of Simplicity," Jack Trout

4. "Competitive Advantage," Michael Porter

5. "Marketing Management," Czinkota Kotabe

6. "The Power of Simplicity," Jack Trout with Steve Rivkin

7. Digital Cement

8. "Internet Marketing 101," Jim Daniels

9. "A Simple Secret To Seducing the Search Engines," Jim Daniels

10. "Creating, Winning, and Retaining Customers," Vadim Kotelnikov

11. "Effective Selling," Vadim Kotelnikov

12. "Competitive Strategies," Vadim Kotelnikov