What are the four basic marketing strategies?

What are the four basic marketing strategies?

A company marketing strategy is a study and reflection process whose aim would be to get as close as possible to the supply-demand match.

What are the four basic marketing strategies?

For the company, this means aiming to increase turnover, market share and customer retention by differentiating, motivating or adapting the solvent offer, thereby increasing economies of scale.

In this context, strategic marketing, a component of the marketing strategy, ensures that the feasibility of the offer is ensured with the company's other key functions (quality management, logistics, information system management, human resources management).

Marketing strategy is often confused with corporate strategy, particularly in organizations that use a limited number of business lines (DAS), and thus directly negotiates the optimization of organizational synergies (or flexibility) and the profitability expected by the financial department.

What is the marketing approach?

What is the marketing approach?

This approach is carried out in three phases, namely: Segmentation, Targeting and Positioning, which correspond to the three phases S, T, P, Segmenting, Targeting, Positioning

Segmentation of the attacked or defended market

Market segmentation is a marketing technique that consists of subdividing a market according to various criteria.

The next step is to create a representation of a group of consumers who share certain criteria in common, which may be geographical, psychological, ethnic, cultural, demographic, etc. The objective is to then define a product in such a way as to make it attractive to a group of consumers. Subgroups must be defined and identified to be homogeneous, measurable, accessible, substantial and relevant.

Targeting of product-market pairs

Targeting consists in choosing the segment or segments of a population (see segmentation) likely to buy a product. This phase allows an assessment to be made of the relative interest of each segment in the product or service. Finally, it allows the company to choose which segment(s) it can target based on its products, and on the expected profitability.

The positioning

First, it is a question of identifying the specificities of a company, a brand, a product or a service that allow a differentiation from the competition.

Secondly, positioning consists in defining the characteristics and specificities that we wish to grant to the product, brand or company in order to differentiate it on the market.

What are the current issues in marketing?

For marketing management, the marketing strategy aims to ensure the long-term development of profitable sales (thus satisfying capital providers) and to cover the company's fixed costs, thus generating economies of scale (ensuring the company's survival). Customer-oriented, this fundamental strategy for the company is also part of the company's general policy, which also takes into account the organization (quality management including information system, logistics and human resources management) generating synergies or flexibility.

The marketing strategy will be implemented by the marketing plan (medium-term tactic of operational marketing).

The marketing strategy is normally translated into a marketing plan. According to Philippe Villemus, "the marketing plan is a document composed of an analysis of the current marketing situation, market threats and opportunities, the company's strengths and weaknesses, objectives, strategy and marketing actions that are quantified, programmed, budgeted and made accountable".

The marketing strategy aims to reconcile four tactical sub-objectives: profitability, solvency, autonomy and growth.

What are the goals or objectives of marketing?

The objective of a marketing strategy is to determine the structure, size and trends of the target population. It also allows you to choose the company's positioning. Indeed, thanks to marketing techniques, it is possible to specify the objectives to be achieved in terms of turnover over the long or short term

what are the key elements of marketing strategy ?

For marketing-management the marketing strategy is arbitrarily structured by the use of 3 parts. After an environmental analysis (1) and the deduction of strategic and operational objectives, it is possible to determine priorities (fundamental strategic marketing options) (2) that make it possible to select the marketing-mix priorities of operational marketing (3).

1. Strategic analysis begins with an internal analysis (company capacities: human and financial resources, brand image) and external analysis (resources required by each segment, profitability of each segment, competitive strength, legislation, etc.) of the company. It will be necessary to use a list of objective and relevant indicators in this preliminary analysis. It will then be possible to carry out a first diagnosis, which can take the form of a SWOT matrix, for example, thus making it possible to set the main objectives (example: becoming a leader, coleader, challenger or specialist). This concept of objective (options) is more or less broad depending on the authors. Some reduce the synthesis phase before the 4Ps to a phase (positioning), which has the merit of simplicity, but can ultimately reduce the scope of possibilities.
2. Secondly, it is therefore necessary to determine these objectives, the fundamental strategic options, which are first and foremost a market segmentation (a target). The aim is to identify consumer groups on the market who have the same expectations of the product and must therefore react in the same way to the same marketing stimulation. As well as a positioning determined by this targeting. It is a question, among the defined segments, of choosing one or more that the company will try to satisfy by the credibility of a formula of the offer. Finally, also the brand image targeted and the sources of sales volume that explain what the strategy will address (a direct competitor, a substitute product...). These various options must form a coherent whole and make it possible to determine the choice of priorities using a weighting table to be invented in each case (market, products and volume source) and levers for action of the strategy.
3. These levers to be clearly formulated for operational marketing are the 4 axes of the marketing mix: price, product, place (distribution), promotion (communication)[4]. These are major areas to be pursued that are arbitrarily defined and whose investment may be uneven. Investing in communication means not lowering prices too much, for example, to remain efficient. These levers must therefore be generally consistent. They must adapt to the market and the company. They must always seek to enable the company to achieve superiority (a competitive advantage) and consistency with positioning. The formulation of this strategy must also seek to have the quality of being sure in terms of forecasting.

Strategic marketing actions can therefore be divided into three phases, conceptually presented as successive phases, but not necessarily consecutive in practice (there are often overlaps or reversals).