The key to strategic marketing success ; Focus is on positioning and differentiation. The company must define its target market carefully. The company needs to position itself in the minds of customers for a unique advantage, and it needs to develop valuable insights to differentiate its offerings and services, which are difficult for competitors to copy and copy.
In the past, high quality and good service were key factors in winning competitive battles. This is because many companies lacked these factors. Today, however, quality and service are becoming the raw material for the production of goods. Without high quality and good service, a company fails. However, with high quality and good service, a company does not win.
An example of the best marketing strategies
Let’s name six types of companies that pursue professional marketing strategies :
- Companies that devise ways to reduce the cost of specific goods and services: IKEA , Southwest Airlines , Wal-Mart, Target, Home Deposit, General Dollar, Parent.
- Companies that boost and increase quality to a very high level: Sony, Toyota, Intel and Starbucks.
- Companies that display conscience and social awareness: Body Shop, Ben & Jerry, Evan, Kraft.
- Companies that basically improve the overall customer experience: Harley-Davidson, Starbucks.
- Companies that create a new business model: Barnes and Nobel, Charles Schwab, FedEx.
- Companies that identify and master capacities: Progyso and Tetra Insurance Company.
Market leaders need to emphasize three strategies. One of them is the growth of the whole market. New buyers are more likely to buy from the market leader. Another strategy is to search and study innovations and quickly copy the most effective types. The market leader does not have to innovate (this threatens all of his day-to-day work), but he must be a quick and agile copyist of any new threatening technology.
What are the main marketing strategies available to challenging companies?
Many market leaders have lost their leadership due to failures in modernizing their products, falling prices, or not improving their services. Lika has a long history of providing high-quality, photographic cameras, and now Nikon is. Mercedes had a history of offering expensive cars in the United States. The weaver has such a function. Crest toothpaste was the product of Procter & Gamble, the market leader in the United States, and now Colgate is the market leader. The factor that can make a product or service stand out or better than others is the better chances of getting rid of the leader. In the case of Colgate, its entire brand name offered new benefits that were not available on the Crest.
How long does it take for an old marketing strategy to work?
Are there winners, eternal, and permanent in business? Let’s answer this marketing question first. There is no permanent winner. Business is a speed race, without a finish line. Marketing strategies are becoming much faster, older, and more marketable today, as markets and technology are changing even faster than in the past. Any marketing strategy that works will be copied.
There is a kind of convergence of strategy that leads to the collapse and collapse of strategy. A well-established and reputable company can suddenly be destroyed by destructive technologies, the unification of new competitors, changing the needs and priorities of the buyer, or new government laws.
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