Constructing A Marketing Strategy

  • Created by: Benjhigg
  • Created on: 01-07-15 12:24
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  • Constructing A Marketing Strategy
    • How could the business overcome competitors and gain customers?
      • A marketing strategy's primary goal is to defeat competitors and win over customers.
        • This leads to 'Market Warfare'
          • Offensive
            • Designed to attack competitors head-on. It targets target customers of competing businesses in the belief they could be won over by a better deal
          • Defensive
            • Focusing on keeping a share of the market and maintaining. Small retails adopt this strategy against larger retailers. Affected by customer service and level of product mix
          • Flanking
            • When impossible to attack, a new market must be found. Adopted by small-scale highstreet retailers.
          • Guerrilla
            • Relying on the element of surprise. This approach might be suitable when a smaller business faces competition from a larger business. They will need to identify the larger business's potential weaknesses and attack these in short bursts.
    • What are the key features and competitor behaviour?
      • The marketing strategy will be misguided if the business does not understand how customers and competitors might respond to its marketing activities
    • What are the marketing capabilities of the business?
      • The business should have the marketing resources to carry out the marketing strategy, including expertise and finances
    • Which Marketing Objective does the strategy achieve?
      • Without clear marketing objective, a marketing strategy will have no direction


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