Explain the Concept of Marketing Strategy

Explain the Concept of Marketing Strategy

Explain the concept of marketing strategy – Questions about marketing strategy are the things that arise in the minds of business people, especially those who are just starting their business.

What is the first step in starting a business? Or what strategy should he take in order to market the product.

But what exactly is the concept of a marketing strategy? Friends, to understand more please refer to the following article.

Explain the Concept of Marketing Strategy

Understanding Marketing Strategy

Marketing strategy is a combination of all planning elements in the marketing field, which serves to guide the running of a marketing activity until the company’s goals are achieved.

Marketing strategy includes, among others, promotional activities, advertising, selling, product planning and distribution channels.

In addition, the marketing strategy includes analyzing target consumers to find out market trends and market expectations, so that they will get products and types of promotions that are suitable for the market.

 

Marketing Strategy Concept

There are at least 5 concepts of marketing strategy, including:

Market segmentation

The strategy the company uses to group consumers into several criteria is what we call market segmentation.

Because every consumer has a different background and characteristics, companies need to classify their customers into several groups to focus on creating the right products and promotions.

Market Positioning

Companies need to put their market position in a segmentation. Because the company will not be able to be the winner of the entire existing market. Companies need to find one segmentation and then be at the top of that market segmentation.

Entering the Market

The company’s market entry strategy can be done by developing the company independently, collaborating with other companies, or taking over other companies.

Marketing Mix

The marketing mix is ​​a combination of several marketing elements consisting of product, price, place, promotion, participant, process, people physical evidence. Its function is to influence consumers’ thoughts on the product.

Timing

Timing strategy is a very important point in conducting marketing activities. Because companies need the right time to introduce and distribute products to consumers.

Poor timingj will risk the product not getting a good response from target consumers.

 

Marketing Strategy Function

There are several functions of marketing strategy, including:

Motivating Market Development

Marketing that the company does, indirectly creates market competition. Because all business actors are competing to be the best in their market.

Thus creating a motivation for the development of a market. Consumers will have many choices and considerations in deciding which product to buy.

In addition, marketing strategies are able to create a sense of ‘want to own’ from the consumer to a product, even though they don’t really need it.

Coordinated Team

Marketing strategy is a guiding tool for the marketing journey of a company. Without a marketing strategy, the marketing team in a company will lose direction because of the lack of coordination and clear instructions.

Uniforming perception

By making a marketing strategy, the management has equalized their perception for one goal. Namely the creation of company profits.

Supervision

A good marketing must be under disciplined supervision. Because despite having arranged a number of plans, many factors may appear in the field that were never predicted before, thus disrupting the course of the marketing process.

By creating a marketing strategy, management must have anticipatory steps for things that might happen in the future. Then make sure the remarketing process is running on track.

Thus the discussion of the question: explain the concept of marketing strategy and its functions. Hopefully my friend can better understand the material and see you on another occasion.

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