In running a business, we definitely need a Marketing Strategies. Strategy is needed so that our business can run effectively and generate maximum profits.
warbox.club – Determining a marketing strategy is quite complicated Occasionally, this necessitates some experimentation and refinement. . We will discuss various marketing strategies that are effective and profitable for your business.
But first we will learn what marketing strategy is.
Comprehending Strategies
A marketing strategy is a statement about how a brand or product line achieves its goals, either in the form of explicit or implied statements. Another understanding was expressed by Sofjan Assauri in the book Marketing Management. Marketing strategy is a comprehensive, integrated and integrated plan in the field of marketing that provides guidelines for the activities that will be carried out to achieve the marketing goals of a company. Meanwhile, Tull and Keble explained, marketing strategy is a fundamental tool that is planned to achieve organizational/institutional goals by developing sustainable product or service excellence through marketing programs used to serve the target market.
Marketing objectives
Marketing strategies have several goals. According to Rosmala Sari Dewi Siregar in the Crafts and Entrepreneurship module,
1. Enhancing Coordination Quality Among Marketing Teams
A company may have more than one product or service being marketed. The marketing strategy aims to synergize marketing teams and enhance the quality of marketing efforts.
2. As a Metric for Marketing Results
Marketing strategy can also serve as a gauge of the marketing efforts. Positive marketing outcomes indicate the effectiveness of the marketing strategy employed. Conversely, if the marketing results are less satisfactory, it suggests areas for improvement in the marketing strategy.
3. As a Logical Foundation for Making Marketing Decisions
Marketing strategies enable companies to make logical decisions to enhance their marketing efforts.
4. To Enhance the Company’s Ability to Adapt to Market Changes
The market situation and conditions are highly dynamic and subject to rapid change. Market strategies enable companies to swiftly adjust or adapt to potential market changes that may occur.
Categories of Marketing Strategies
1. Direct Selling
Direct selling strategy, or direct selling, is conducted by sales representatives or agents who engage with potential customers individually, providing information about products/services and persuading them to purchase or use the products/services.
2. Point of Purchase
Point of purchase strategy involves placing products in strategic locations with unique and attractive displays.
3. Earned Media
Earned media strategy falls under the category of indirect marketing strategies. This approach involves placing marketing materials such as advertisements on effective media channels, including television, print media, online media, banner advertising, social media, and so on.
4. Influencer Marketing
Influencer marketing is a marketing strategy for a product/service that involves collaborating with influencers or individuals with significant influence. This strategy entails partnering with influencers to promote products/services through their social media platforms.
5. Internet Marketing
Internet marketing strategy involves creating one’s own e-commerce website or utilizing existing large marketplace platforms. This strategy is relatively easy as it provides unrestricted transaction access between sellers and consumers, regardless of space and time.
6. Email Marketing
This strategy involves providing information about products/services and how to obtain them through electronic mail or email. Email marketing messages typically have a persuasive tone. Entrepreneurs also include newsletters and subscription options so that potential customers can receive the latest information about the products/services being offered.
7. Mobile Marketing
Similar to internet marketing, mobile marketing also utilizes the internet. However, transactions are conducted through smartphone platforms or mobile devices. The website interface between desktop and mobile is usually designed differently.
Determining Marketing
1. Conduct Market Research
First and foremost, to determine marketing strategies, it’s essential to understand the market itself. This objective can be attained through conducting market research. Businesses examine what potential customers need and how those needs can be met with the products offered by the business.
2. Determine Segmentation
Market segmentation is the process of identifying and categorizing consumer groups separately. Each consumer group has its own characteristics, resulting in different needs. Businesses need to determine their market segmentation before marketing products/services to ensure targeted marketing.
3. Selecting Targets
Similar to segmentation, businesses also need to choose targeting. This entails choosing one or more market segments to target and promote products within.
4. etermining Market Positioning
Positioning is the activity of establishing a market position. This method aims to build and communicate the product’s advantages to consumers.
5. Building Product Differentiation
Differentiation is the component that distinguishes our own product from competitors’ products. Business owners must understand and develop their product differentiation thoroughly to promote it to the maximum.
6. Determining the Marketing Mix (Marketing Mix)
The marketing mix includes product, price, promotion, and place. After having a product to market, business owners must determine the pricing and distribution channels as marketing targets, as well as the type of promotion to be conducted.
7. Building and Strengthening Brands
In addition to strengthening product advantages, business owners also need to build a strong brand. With a strong brand, consumers will find it easier to remember the product offered or have brand awareness.
8. Create Interesting Marketing Content
Differentiation is not only carried out in the product itself, but also in the product promotional content. Make promotional or marketing content as attractive as possible so that more consumers want to use our products.
9. Utilize Social Media Advertising
With the increasing number of social media platforms, marketing opportunities have also expanded. Social media is one of the most effective marketing channels for growing businesses and reaching as many potential consumers as possible.
10. Building a Communicative Website
In addition to social media, businesses also require their own communicative and informative website. A website enhances the credibility and trustworthiness of the product.