Concept and Examples of Marketing Strategies

Marketing strategies, also known as marketing strategies, marketing strategies or trading strategies consist of actions carried out to achieve specific marketing-related, such as to present a new product objectives, increase sales or achieve greater market share.
To formulate or design marketing strategies, in addition to taking into account our goals, resources and capacity, we must first analyze our target audience, so that based on this analysis we can, for example, design strategies that allow us to meet your needs or desires, or taking into account their habits and customs.

Marketing Strategies

But also to analyze our target audience, we must also previously analyze the competition, so that based on this analysis we can, for example, to design strategies that allow us to capitalize on their weaknesses, or based on the strategies they are using and best results are giving them.
For better management of marketing strategies, they are usually divided or classified into strategies to 4 aspects or elements of a business: strategies for product strategies for price strategies for the square (or distribution), and strategies for promotion (or communication). Set of elements known as the 4 Ps or mix (or mix) marketing (or marketing).
Let's look at some examples of marketing strategies that we can apply to each element that makes up the marketing mix:

Strategies for product

The product is the good or service offered or sold to consumers. Some strategies that can formulate related to the product are:

    add new features to our product attributes, benefits, enhancements, functions, utilities, applications.
    change to our product design, presentation, packaging, labeling, colors, logo.
    launch a new line of complementary products to which we have; for example, if our product is jeans for ladies, we could launch a line of shoes or handbags for ladies.
    expand our product line; for example, increase the menu of our restaurant, or take a new kind of shampoo for other types of hair.
    launch a new brand (without removing the market we already have); for example, a new brand for our same type of product but dedicated to a public with greater purchasing power.
    adding thereto complementary services to our product; for example, the delivery of product delivery, product installation, technical maintenance or service, warranties, return policies.

Strategies for Price

The price is the monetary value assigned to the product at the time of offering or selling it to consumers. Some strategies that can design related to the price are:

    launch a new product with a low price in order to achieve rapid penetration, rapid host or do it quickly known.
    launch a new product with a high price in order to take advantage of the purchases made as a result of the novelty of the product.
    reduce our prices in order to attract more customers and boost sales.
    increase our prices in order to achieve a higher profit margin.
    reduce our prices below the competition in order to block it and win market.
    increase our prices above the competition in order to create a feeling in our products of higher quality.
    offer discounts for early payment, volume or per season.

Strategies for place or distribution

The square or distribution refers to places or outlets where the product is offered or sold to consumers as well as the way it is distributed or transferred to such places or outlets. Some strategies that can establish related to the place or distribution are:

    using intermediaries (eg, agents, distributors, retailers) in order to achieve greater coverage of our product.
    open a new shop.
    create a website or an online store for our product.
    offer or sell our product through phone calls, sending emails or visits.
    locate our products at all points of sale and for having gotten (intensive distribution strategy).
    locate our products only in outlets that are suitable for the type of product we sell (selective distribution strategy).
    locate our products only in a retail outlet that is unique (exclusive distribution strategy).
    increase the number of distributors or delivery vehicles.

Strategies for promotion or communication

Promotion or communication is to publicize, inform or to recall the existence of the product to consumers and persuade, encourage or motivate your purchase, consumption or use. Some strategies that can apply related to the promotion or communication are:

    offer to purchase the offer two products for the price of one.
    offer the offer to purchase a second product at half price for the purchase of the first.
    working with coupons or discounts.
    providing special discounts on certain products and on certain dates.
    create a sweepstakes or a contest among our customers.
    give small gifts or gifts to our major customers.
    advertise in newspapers or magazines.
    advertise on Internet sites classified ads.
    participate in a fair or exhibition business.
    enable a tasting station.
    organize an event or activity.
    putting up posters or advertising posters on the facade of the premises of our company.
    advertising sheets placed on the outside of our company vehicles.
    rent advertising space on signboards or panels on public roads.
    printing and distributing brochures, flyers, business cards.
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Marketing Strategies - Definition, Types and Examples