Strategic Marketing Process Example
In part one of this article we discussed the development of product marketing strategy, we gave a brief overview of marketing, we also discussed the brand marketing strategy.
Strategic marketing process example is needed when a company releases a product based on events in daily lives or news. A good example of strategic marketing process is when Zing was campaigning Football league, and people sold t-shirts commemorating the event.
Marketing strategy is considered as an organized procedure that can allow organizations to pay attention only their limited resources and avail of all available opportunities to increase sales and achieve a competitive advantage in the markets.
Marketing strategy consists of all constructed group of activities and technologies that help to make analysis of strategic and financial condition of any organization. Marketing strategy is design to achieve organizational goals effectively.
Why Use Strategic Marketing Process And Techniques?
Marketers use marketing processes, techniques, and services in order to create awareness about their products in the market. Companies often want to become market leaders to meet their customer’s need efficiently.
Customers only prefer those companies which use excellent marketing techniques to represent their products or services. Marketing strategy is used to make efficient marketing plans and design the products that meet their customer’s demands effectively.
Marketing activities are performed to meet the objectives and goals of organizations efficiently. Companies are usually categorized or classified based on their product’s quality and market shares.
Reputed companies always use market dominance techniques in order to become market leader or fulfill all challenges faced in the marketers. They produce high quality products at affordable rates and challenge to their competitors in the markets.
How To Use Marketing Strategy By Introducing New Products?
When companies want to initialize new products, they must get psychological and geographical information about the place where they want to launch their products.
They should understand the requirements and demands of people living in that place. They design those products that successfully meet their customer’s demands.
If they follow the traditions of people while designing their products, they will increase sales and earn profit efficiently.
If market testing is possible, they should also do it. They should also keep in mind revenue growth, distribution, psychological factors, product promotion and profits.
A popular way to remember the function of marketing is the “four p’s of marketing“. A good definition of marketing will provide a more detailed description of the standard marketing function, and the four p’s of marketing.
Companies that are following 4P’s of marketing while launching their products can easily become market leaders. They always design their products according to the requirements of their customers.
They always study the buying habits of their customers and design their products according to their buying habits. After designing their products, they use promotional activities and communicate directly with their customers in order to define their product’s specifications.
After reading this article strategic marketing process example, you will be able to make your own strategy to initialize your own business.