What is Marketing Strategy?
Marketing is about targeting the correct segment of customers that should use your product or service and what you understand and know about their desires, wants and expectations.
Advertising is about the best communication using the media that your target customers want to see your message in. This is a tricky area as the media available has so many choices.
Sales are about the face-to-face negotiation that takes place when the marketing, targeting and advertising communication delivers the right qualified leads and potential clients.
Strategies can cover changes to your segment market channel, such as price discounting, competitor activity, Government law changes, customer changes, advertising media changes and much more.
Identify Your Strategy
A good strategy identifies the segment aimed at and communicates in such a manner that the segment understands the message enough to make a decision to buy.
A good measure of a strategy is what the customer acquisition cost is, that is what does it cost to get customers in your “door” to purchase and over the years is this cost-reducing? Strategies are the “how-to” of what you must do to get a result.
Things You can Do!
You can buy my book “How to undertake a Marketing Audit” to review your existing strategies and find out which ones need development.
You can buy my book “Practical Marketing in New Zealand” to understand strategies. Click here to order online Now.
