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__NOTOC__ Strategy is the crafting of plans to reach goals. Marketing strategies are those plans designed to reach marketing goals. A good marketing strategy should integrate an organization’s marketing goals, policies, and action sequences (tactics) into a cohesive whole. The objective of a marketing strategy is to put the organization into a position to carry out its mission effectively and efficiently.
Marketing strategies are partially derived from broader corporate strategies, corporate missions, and corporate goals. They are also influenced by a range of microenvironmental factors.
Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics.
1 Types of Marketing Strategies
Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below. For a more detailed explanation, follow the links.
- Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies:
- leader
- challenger
- follower
- nicher
- Innovation strategies - This deals with the firm’s rate of new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:
- pioneers
- close followers
- late followers
- Growth strategies - In this scheme we ask the question, “How should the firm grow?”. There are a number of different ways of answering that question, but the most common gives four answers:
- Aggressiveness strategies - This asks whether a firm should grow or not, and if so, how fast. One scheme divides strategies into:
- building
- holding
- harvesting
- A more detailed schemes uses the categories:
- prospector
- analyzer
- defender
- reactor
- Warfare based strategiesMarketing warfare strategies are a type of strategies, used in business and marketing, that try to draw parallels between business and warfare, and then apply the principles of military strategy to business situations. In business we do not have enemies, - This scheme draws parallels between marketing strategies and military strategies. There are many types of marketing warfare strategies, but they can be grouped into:
- offensive marketing warfare strategiesOffensive marketing warfare strategies are strategies designed to obtain some objective, usually market share, from a target competitor. In addition to market share, an offensive strategy could be designed to obtain key customers, high margin market segme
- defensive marketing warfare strategiesIn marketing, defensive marketing warfare strategies are strategies designed to protect a company's market share, profitability, product positioning, or mind share. Fundamental principles There are five fundamental principles involved: #Always counter an
- flanking marketing warfare strategiesFlanking marketing warfare strategies are strategies designed to minimize confrontational losses. Fundamental principles The fundamental principles involved are: #Avoid areas of likely confrontation. A flanking move always occurs in an uncontested area.
- guerrilla marketing warfare strategiesGuerrilla marketing warfare strategies are strategies designed to wear-down the enemy by a long series of minor attacks. Rather than engage in major battles, a guerrilla force is divided into small groups that selectively attacks the target at its weak po
