√ Definition of Marketing Strategy, Objectives, Functions and Types
Definition of Marketing Strategy, Objectives, Functions and Types – In this discussion we will explain about marketing strategy. Which includes the understanding of marketing strategy, marketing strategy objectives, functions and types of marketing strategy with complete and easy-to-understand discussion.
Definition of Marketing Strategy, Objectives, Functions and Types
For more details, please see the review below carefully.
Definition of Marketing Strategy
Marketing strategy is a way for a company to achieve its goals, because the potential to sell a proposition is limited to the number of people who know about it. In general, marketing strategy is an attempt to market products or services using planning patterns and methods in order to be successful in selling more of what is being sold.
Marketing Strategy Objectives
The objectives of the marketing strategy include:
- Improving the quality of coordination to the marketing team
- Measuring marketing results according to applicable performance standards
- Provide a reasonable basis in every decision
- Improving the ability to adapt when changes occur in marketing
Marketing Strategy Function
The functions or benefits of a marketing strategy are as follows:
Increasing Motivation in Thinking Clearly Ahead
The marketing strategy requires company management to think out of the box, this is highly recommended in maintaining the rhythm or continuity of the company. Try not to keep following the rhythm of the market, but occasionally try to hit the market with something new.
More Effective And Targeted Marketing Coordination
The marketing strategy functions as a regulator of the direction and course of the company so that the coordination team becomes much better and more focused
Can Formulate Company Goals To Be Achieved
With a marketing strategy, business actors can be assisted to detail the goals to be achieved by the company, both long-term and short-term goals.
Oversight of Marketing Activities More Effectively on Work Performance Standards
Monitoring the activities of team members pays more attention so that quality improvement and quality are guaranteed
Types of Marketing Strategy
Assauri (2008: 163) argues that there are three types of marketing strategies that companies can do, namely
- Marketing strategy that does not discriminate between markets (Undifferentiated marketing)
- Marketing strategy that differentiates the market (Different marketing) and
- Concentrated marketing strategy (Concentrated marketing)
The following is an explanation of each type of marketing strategy above.
Marketing Strategy that does not discriminate between Markets (Undifferentiated Marketing)
This type of strategy considers the market as a whole, so the company only pays attention to general needs. The products that are produced and marketed are often only one product and try to attract consumers with only one marketing plan.
Marketing Strategy that differentiates the Market (Differentiated Marketing)
This marketing strategy serves the needs of certain groups with a certain type of product as well. So that manufacturers or companies produce different products according to market segments. In other words, producers and companies offer a wide variety of products tailored to the needs and desires of consumer groups which is not the same as a special marketing program, it is hoped that the level of sales success in each of these segments can be achieved.
The purpose of this marketing is to increase the confidence of certain consumer groups in a product that varies according to the needs and desires of consumers.
Concentrated Marketing Strategy (Concentrated Marketing)
This marketing strategy specializes in product marketing to some market segments with consideration of the company's limited resources.
The advantage of this strategy is that the company will gain a strong position in the selected market segment. Because companies will be more focused and have better experience in implementing approaches to meet the needs and desires of consumers.
The weakness with this strategy is that producers must be aware of big risks if they only depend on one or part of the market segment. Because it is feared that there will be changes in consumer needs or an increase in the competitiveness of other companies that are better.
In addition to the types mentioned above, there are still several types or types of marketing strategies, namely:
Primary Needs Strategy
Strategies for designing primary needs are:
- Increase the amount used
- Increase the volume of buyers
Selective Needs Strategy
Selective needs strategy by:
Maintain Number Of Customers Like:
- Maintain customer satisfaction
- Simplify the buying process
- Reducing interest or ahead for brand switching.
Attract Customers "Acquisition Strategier"
- Occupying a face to face position or head to head positioning
- Occupying a different position or different positioning.
For more details, marketing strategies are divided into four types, namely:
- As a primary need stimulant by increasing the number of users
- As a stimulant of primary needs by increasing the level of purchase
- As a stimulus to selective needs by giving attention to existing customers
- As a stimulant of selective needs by capturing new customers.
Thus has been explained about Definition of Marketing Strategy, Objectives, Functions and Types. Hopefully it can add to your insight and knowledge. Thank you for visiting and don't forget to read other articles.
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