Every marketing strategy is unique, but 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:” (David, 1989).
Strategies based on market dominance: In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies: a.
Porter generic strategies: strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage. a.
Innovation strategies: This deals with the firm's rate of the 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: a.
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: a.
A more detailed scheme uses the categories:
Marketing warfare strategies: This scheme draws parallels between marketing strategies and military strategies. 7. Marketing SWOT strategies Analysis
What is marketing SWOT strategies Analysis?
Remember, Virtually Impossible To Focus Too And What Creates Profits For Your Business. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) is a tool used to provide a general or detailed snapshot of a company's health. Think of your SWOT as a tune-up that every business needs periodically to diagnose and fix what’s a bit worn, what’s on the verge of breaking down, or what’s already broken and needs placement--so that you can keep the business humming— even better than it has in the past. SWOT offers professional managers an effective evaluative technique to aid the decision making process, it can not find the solution for you, but it will ensure that issues are: identified, classified and prioritized clearly, showing the problem in terms of key underlying issues.
It's a four-part approach to analyzing a company's overall strategy or the strategy of Its business units..
We are able to respond very quickly as we have no red tape, no need for higher management approval, etc.
We are able to give really good customer care, as the current small amount of work means we have plenty of time to devote to customers.
Our lead consultant has strong reputation within the market.
We can change direction quickly if we find that our marketing is not working.
We have small overheads, so can offer good value to customers.
Our company has no market presence or reputation.
We have a small staff with a shallow skills base in many areas.
We are vulnerable to vital staff being sick, leaving, etc.
Our cash flow will be unreliable in the early stages.
Our business sector is expanding, with many future opportunities for success.
Our local council wants to encourage local businesses with work where possible.
Our competitors may be slow to adopt new technologies.
Will developments in technology change this market beyond our ability to adapt?
A small change in focus of a large competitor might wipe out any market position we achieve The consultancy might therefore decide to specialize in rapid response, good value services to local businesses. Marketing would be in selected local publications, to get the greatest possible market...
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