Marketing strategy development from KOLORO company
Every company should clearly know what tasks it is facing, what goals it needs to achieve and what measures need to be taken to achieve them. In this case, “measures” is a strategy to promote the brand and the company, in other words marketing strategy .
In order to achieve maximum results in promoting goods and establishing market positions, it is necessary to draw up a detailed plan of the company on the use of available resources and attracting additional resources, or rather a marketing plan (strategy).
Developing a marketing strategy allows a company to respond quickly to changing market trends. And it also allows you to find your optimal working style that will take into account the company’s goals and capabilities. With planning and a ready-made promotional strategy, you will never lose your way and will be many times more effective.
Remember, even in tsarist times, rulers made strategic plans for grain purchases, estimates for army maintenance, and calendars of significant events. Since that time, virtually nothing has changed. If your brand doesn’t manage its affairs wisely and follow a strategy – someone else will get the “royal crown”.
Marketing strategy
Marketing strategy – is the formation of goals and objectives set by the company, determination of ways and means of their achievement. It’s a tool to get a few steps ahead of the competition!
Marketing strategy is a component of the company’s overall strategy, so their goals should be interrelated. The marketing strategy is based on the main components of the marketing mix – the “4Ps”: product, price, place and promotion. In this case product strategy, pricing strategy, sales strategy and communication strategy. When developing a marketing plan, choose a strategy for each of these areas.
Why you need a marketing strategy
First of all, a marketing strategy is necessary for a company to choose the direction in which it will develop. In addition, it helps to identify opportunities and prospects for the development of the company and its products, and to identify points of growth. A marketing strategy is a plan, short or long term, that helps a company achieve its goals, priorities, and market success.
The marketing strategy structures and organizes the activities of the marketing department, the sales department and the company as a whole.
An effective marketing strategy can bring the following results to a company:
1. Strengthening of the company’s market position;
2. Growing market share and increasing sales levels;
3. Conquest of new market segments, growth in the number of loyal consumers;
4. Entering new markets and expanding the geographical boundaries of sales;
5. Successful introduction of new products and services to the market
Who needs a marketing strategy
– Companies that have just started their business or are on the verge of opening (for startups);
– Firms that want to improve their market position, enter new segments and increase the scale of their business;
– Businesses that are experiencing a decline in activity and sales.
Development of marketing strategy
The main stages of marketing strategy development:
1. Determining the direction of the company’s development and setting strategic goals;
2. Analyzing the current state of the company, analyzing internal information and reporting;
3. Conducting SWOT-analysis;
4. Marketing research of the market, determination of the role and position of the company in the market;
5. Studying competitive companies and their activity;
6. Conducting marketing research in order to make a portrait of the consumer;
7. Selection of the firm’s development strategy;
8. Description of the principles of marketing strategy based on the “4Ps” concept;
9. Determination of the portfolio of projects, the realization of which is necessary for the implementation of the marketing strategy:
– Брендинг
– Ассортиментная и ценовая политика
– Сбытовая политика
– Рекламная стратегия
– Аналитика рынка и бренд-аналитика
10. Планирование мероприятий по реализации стратегии маркетинга;
11. Сопровождение и мониторинг выполнения маркетинговой стратегии (аудит и внесение корректировок). Economic evaluation of intermediate and final results of the company’s activities.
Types of marketing strategies
Depending on what tasks the marketing strategy should solve we can distinguish:
– Sales market expansion strategy;
– Conquest of new market segments, new market niches;
– Marketing strategy to maintain the company’s stability level.
According to the terms of realization marketing strategies are divided into:
– Short-term (up to 1 year);
– Medium-term (from 2 to 5 years);
– Long-term (for 5-7 years).
Timing of marketing strategy development
The duration of the marketing strategy development process depends directly on the company for which it is developed and its potential. On average, an effective marketing strategy is developed in 1-6 weeks.
Branding agency KOLORO provides services in comprehensive market analysis, competitor analysis, target audience research. We will help you gather your necessary information, choose a marketing strategy and develop a detailed marketing plan, develop a positioning concept and an advertising campaign to achieve your company’s marketing goals, as quickly and efficiently as possible! Build your strategy to win the “royal crown” in the world of brands!
