Marketing strategy is not voodoo! The elements of a good strategy are as follows:
- Identifying your market and building a value proposition
- Developing a value proposition by creating a position strategy that creates value for the customer
- Positioning involves a service aspect , a brand, a price, incentives, communication and distribution
- Designing tactics
Brand aims to create a set of unique product associations
- Communication involving positioning aspects
- Implementation thru business process and schedule
- Control thru performance evaluation and environmental analysis
How can we develop strategies against a competitive threat?
- Re-positioning offering b lowering price or increasing benefits or adding a new offering
Thru this information it is possible to construct a realistic strategy that helps you position your firm in the market-place. This in turn can be the beginning of a competitive edge.
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