Elaborative Examples of Marketing Strategies
Example of marketing strategies[/b]
On-premise Sales involves visiting the customer's premises to make the sale.
Wholesale Sales uses middle-men to distribute product or service to the retailers.
Full-service Retail Sales involves a full service retail distribution channel.
Self-service Retail Sales implies using self service retail methods of distribution.
Product[/b]
product mix (lining) vs. product bundling
product strengths and weaknesses
perceptual mapping
Product Life Cycle Management (PLM) and New Product Development (NPD)
Brand name, brand image, and brand equity
the augmented product
product portfolio analysis
B.C.G. Analysis
Contribution margin analysis
G.E. Multi Factor analysis
Quality Function Deployment
Market share objectives[/b][/b]
by products,
by customer segments,
by geographical markets
Price[/b]
pricing objectives
pricing method (eg.: cost plus, demand based, or competitor indexing)
pricing strategy (eg.: skimming, or penetration)
discounts and allowances
price elasticity and customer sensitivity
price zoning
break even analysis at various prices
Promotion[/b]
promotional goals
promotional mix
advertising reach, frequency, flights, theme, and media
sales force requirements, techniques, and management
sales promotion
publicity and public relations
electronic promotion (eg.: Web, or telephone)
Distribution[/b]
geographical coverage
distribution channels
physical distribution and logistics
electronic distribution
Market Analysis[/b][/b]
market definition
market size
market segmentation
industry structure and strategic groupings
Porter 5 forces analysis
competition and market share
competitors' strengths and weaknesses
market trends
Consumer Analysis[/b][/b]
nature of the buying decision
participants
demographics
psychographics
buyer motivation and expectations
loyalty segments
Market Leader[/b][/b]
Market Challenger[/b][/b]
Market Follower[/b][/b]
Market Niche[/b][/b]
Alliance Marketing[/b][/b]
Online or internet marketing[/b][/b]
Offline marketing[/b][/b]
Word of mouth or relationship marketing[/b][/b]
The PUSH MARKETING STRATEGY in marketing strategies 'pushes' the advertised product into the market by using all available distribution.
The PULL MARKETING STRATEGY works through direct interaction with the end user.
Pricing is a critical factor in marketing strategies. How will you will price the offering?
If your offering has adequate significant differentiation to justify a high price, and you prefer quick cash to substantial control and market penetration, then you set your prices very high.
If your goal is quick market penetration, and short term income is not a primary objective, then you can fix your prices at a lower end.
If your market influence is limited, the market leaders would have already created an 'anchor price' in the buyer's minds.
To state the obvious, you must effectively promote and advertise a product or service to 'sell' it, and there are many ways of doing this.
If your offering stacks up better when comparing features with a similar product, then a product comparison ad can be advantageous.
If you want to promote your offer without comparing with your competitors, or your product is one-of-a-kind, then the product advantages ad is the right approach.
The product family ad can be of benefit can be used if your offer is part of a group or family that can be of benefit to the customer as a group.
Marketing a variety of offerings to a broad market will benefit from promoting your business brand or identity rather than a particular offering and selecting the distribution methods you will use. These could include:
Direct Sales involves using an in-house sales organization that sells through the Internet, telephone or mail order contact.
Consulting employees about health and safety
Victoria has made good progress in reducing the number of workplace injuries and deaths.
Some organisations, particularly smaller companies, have not realised the full potential of health and safety meetings (sometimes called toolbox meetings).
Family run companies may not be aware of the benefits. Family members tend to 'run the company' without the involvement of key supervisors and team leaders. They may consult with individual staff members, but they fail to organize workplace meetings where ideas are shared.
A simple and effective way to engage employees is through their participation and involvement in worthwhile meetings.
Organizations should make the most of the health and safety legislation and extend the content of meetings to consultation on employee matters generally. Health and safety is just one aspect of employee welfare in the workplace. Broader matters should also be discussed.
Individual consultation is useful, but sometimes the synergy gained from a group meeting can be very beneficial.
Work enjoyment helps employee retention
If you are facing employee retention issues, this free article by Derek Stockley may help.
Morale
The 2005/2006 summer edition of BRW magazine had some good cartoons about 2006. One showed the typical slave master, complete with whip, walking the aisle of an old style ship. The rowers were struggling under the threat of the whip. The caption stated:
Apart from greater use of the whip, the new IR rules have made absolutely no difference to the way we treat our employees. *
It reminded me of the old saying (source unknown):
We will stop using the whip when morale improves.
The cartoon was a "tongue in cheek" comment about the new industrial relations (IR) legislation introduced by the federal government. In a previous article, Staff motivation in the industrial relations reform context, I discussed some of the motivational issues raised by the various campaigns surrounding the reforms.
The imagery of the cartoon again highlights the importance of the employer/employee relationship.
This is now even more important, given that employee retention is now such a big issue.
So what can you do?
Employee friendly policies and practices
Young people are more mobile and less committed to individual organisations. The baby boomers are approaching retirement age.
To retain staff, organizations have to be more flexible, ensuring that work/life balance is possible.
When we talk about work/life balance, we tend to picture in our mind couples with young children. It actually applies to all employees. Work/life balance applies to young, single people and older people seeking shorter working hours.
People want to experience life. They want to travel. They want flexibility and because of the skills shortage, they can seek out organizations that cater for these aspirations.
So organizations need to have supportive policies like sabbaticals (12 months leave of absence without pay) and flexible working hours.
These things are about the interaction between work and private time.
What about the time actually spent at work?
Work environment and culture
'Choose a job you love, and you will never have to work a day in your life'
Employee retention is about the nature of the work itself and the work environment/culture.
Firstly, you have to get the basics right - good pay, appropriate conditions, etc.
Secondly, you have to remove the fear of uncertainty - employees should feel safe and secure in their employment. They should not be concerned about your employment practices. They should not picture you 'with a whip'.
Thirdly, you have to work hard to create and maintain a good work culture and climate.
The culture should be friendly, work focused but not obsessed. People should have fun when the pressure is off and work hard when the pressure is on.
At the time I worked in the health insurance industry, the federal government kept changing the system, meaning major system changes every 12 months or so.
The organizational culture and climate supported staff in this peak workload. It was appropriate. It worked.
Example of marketing strategies[/b]
On-premise Sales involves visiting the customer's premises to make the sale.
Wholesale Sales uses middle-men to distribute product or service to the retailers.
Full-service Retail Sales involves a full service retail distribution channel.
Self-service Retail Sales implies using self service retail methods of distribution.
Product[/b]
product mix (lining) vs. product bundling
product strengths and weaknesses
perceptual mapping
Product Life Cycle Management (PLM) and New Product Development (NPD)
Brand name, brand image, and brand equity
the augmented product
product portfolio analysis
B.C.G. Analysis
Contribution margin analysis
G.E. Multi Factor analysis
Quality Function Deployment
Market share objectives[/b][/b]
by products,
by customer segments,
by geographical markets
Price[/b]
pricing objectives
pricing method (eg.: cost plus, demand based, or competitor indexing)
pricing strategy (eg.: skimming, or penetration)
discounts and allowances
price elasticity and customer sensitivity
price zoning
break even analysis at various prices
Promotion[/b]
promotional goals
promotional mix
advertising reach, frequency, flights, theme, and media
sales force requirements, techniques, and management
sales promotion
publicity and public relations
electronic promotion (eg.: Web, or telephone)
Distribution[/b]
geographical coverage
distribution channels
physical distribution and logistics
electronic distribution
Market Analysis[/b][/b]
market definition
market size
market segmentation
industry structure and strategic groupings
Porter 5 forces analysis
competition and market share
competitors' strengths and weaknesses
market trends
Consumer Analysis[/b][/b]
nature of the buying decision
participants
demographics
psychographics
buyer motivation and expectations
loyalty segments
Market Leader[/b][/b]
Market Challenger[/b][/b]
Market Follower[/b][/b]
Market Niche[/b][/b]
Alliance Marketing[/b][/b]
Online or internet marketing[/b][/b]
Offline marketing[/b][/b]
Word of mouth or relationship marketing[/b][/b]
The PUSH MARKETING STRATEGY in marketing strategies 'pushes' the advertised product into the market by using all available distribution.
The PULL MARKETING STRATEGY works through direct interaction with the end user.
Pricing is a critical factor in marketing strategies. How will you will price the offering?
If your offering has adequate significant differentiation to justify a high price, and you prefer quick cash to substantial control and market penetration, then you set your prices very high.
If your goal is quick market penetration, and short term income is not a primary objective, then you can fix your prices at a lower end.
If your market influence is limited, the market leaders would have already created an 'anchor price' in the buyer's minds.
To state the obvious, you must effectively promote and advertise a product or service to 'sell' it, and there are many ways of doing this.
If your offering stacks up better when comparing features with a similar product, then a product comparison ad can be advantageous.
If you want to promote your offer without comparing with your competitors, or your product is one-of-a-kind, then the product advantages ad is the right approach.
The product family ad can be of benefit can be used if your offer is part of a group or family that can be of benefit to the customer as a group.
Marketing a variety of offerings to a broad market will benefit from promoting your business brand or identity rather than a particular offering and selecting the distribution methods you will use. These could include:
Direct Sales involves using an in-house sales organization that sells through the Internet, telephone or mail order contact.
Consulting employees about health and safety
Victoria has made good progress in reducing the number of workplace injuries and deaths.
Some organisations, particularly smaller companies, have not realised the full potential of health and safety meetings (sometimes called toolbox meetings).
Family run companies may not be aware of the benefits. Family members tend to 'run the company' without the involvement of key supervisors and team leaders. They may consult with individual staff members, but they fail to organize workplace meetings where ideas are shared.
A simple and effective way to engage employees is through their participation and involvement in worthwhile meetings.
Organizations should make the most of the health and safety legislation and extend the content of meetings to consultation on employee matters generally. Health and safety is just one aspect of employee welfare in the workplace. Broader matters should also be discussed.
Individual consultation is useful, but sometimes the synergy gained from a group meeting can be very beneficial.
Work enjoyment helps employee retention
If you are facing employee retention issues, this free article by Derek Stockley may help.
Morale
The 2005/2006 summer edition of BRW magazine had some good cartoons about 2006. One showed the typical slave master, complete with whip, walking the aisle of an old style ship. The rowers were struggling under the threat of the whip. The caption stated:
Apart from greater use of the whip, the new IR rules have made absolutely no difference to the way we treat our employees. *
It reminded me of the old saying (source unknown):
We will stop using the whip when morale improves.
The cartoon was a "tongue in cheek" comment about the new industrial relations (IR) legislation introduced by the federal government. In a previous article, Staff motivation in the industrial relations reform context, I discussed some of the motivational issues raised by the various campaigns surrounding the reforms.
The imagery of the cartoon again highlights the importance of the employer/employee relationship.
This is now even more important, given that employee retention is now such a big issue.
So what can you do?
Employee friendly policies and practices
Young people are more mobile and less committed to individual organisations. The baby boomers are approaching retirement age.
To retain staff, organizations have to be more flexible, ensuring that work/life balance is possible.
When we talk about work/life balance, we tend to picture in our mind couples with young children. It actually applies to all employees. Work/life balance applies to young, single people and older people seeking shorter working hours.
People want to experience life. They want to travel. They want flexibility and because of the skills shortage, they can seek out organizations that cater for these aspirations.
So organizations need to have supportive policies like sabbaticals (12 months leave of absence without pay) and flexible working hours.
These things are about the interaction between work and private time.
What about the time actually spent at work?
Work environment and culture
'Choose a job you love, and you will never have to work a day in your life'
Employee retention is about the nature of the work itself and the work environment/culture.
Firstly, you have to get the basics right - good pay, appropriate conditions, etc.
Secondly, you have to remove the fear of uncertainty - employees should feel safe and secure in their employment. They should not be concerned about your employment practices. They should not picture you 'with a whip'.
Thirdly, you have to work hard to create and maintain a good work culture and climate.
The culture should be friendly, work focused but not obsessed. People should have fun when the pressure is off and work hard when the pressure is on.
At the time I worked in the health insurance industry, the federal government kept changing the system, meaning major system changes every 12 months or so.
The organizational culture and climate supported staff in this peak workload. It was appropriate. It worked.