The development of an enterprise’s marketing strategy is carried out at 3 levels:
Corporate Strategic Planning Document
Defines the most important development paths, mission and goals of the enterprise. For example, to maintain leadership positions in its market or increase revenues by 25%. Such a strategy is designed for a long term - from five years.
Marketing Strategy
Considers the resource benefits of reaching overseas chinese consumers in europe capabilities of the enterprise and sets strategic marketing objectives for several years (2-3 years) that contribute to achieving the global business goal. For example, to increase income, it is necessary to attract new consumer groups or increase the popularity of products.
Marketing communications strategy
Defines trends in different areas of activity for the current year. In other words, it describes clear actions that will help achieve marketing goals. For example, to interest potential consumers, it is necessary to conduct an advertising campaign in the media to increase brand awareness by 40%.
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5 Types of Marketing Strategies
The success of a company's marketing activities depends on the type of strategy chosen. The classification includes global, competitive MC, basic, functional and growth strategies.
Having given preference to one of them, the company determines the development directions (including the priority ones), the advantages on which the promotion will be built, as well as the decisions taken when choosing a marketing complex and in the fight against competitors. Let's consider the main options for marketing strategies.
Basic
They are fundamental for any organization and have different directions:
Differentiation. The main objective of this strategy is to give products those unique features that will distinguish them from the products of other companies. In this way, the company expands its areas of activity or product line.
Leadership. In this strategy, the main priority will be the costs of commercial activity and their reduction. The size of expenses and the payback of production assets are controlled in detail. The smallest nuances of new products are worked out.
Specialization. The organization strives to take a leading position in a specific area.
A feature of basic marketing strategies is that the choice is determined by the results of the analysis of advantages and costs. Let us take the Porsche brand as an example, whose worldwide fame was based on a narrow specialization.