Marketing Strategy “Marketing” by Paul Baines, Chris Fill and

Kelly Page. Referenced throughout. ARRIVAL coaching has put the content into a

simpler and easier layout to understand.

Objectives

• To gain an understanding of the importance of a marketing strategy

• Understand how to set up a marketing strategy

Introduction

• A marketing strategy cannot be completed without completing a business strategy.

• Baring in mind that marketing is the “management process responsible for identifying, anticipating and satisfying customer requirements profitably.”

• A marketing strategy focuses on how this can be achieved with the end result typically an increase of revenue and profitability through product diversification/ development, market development/ diversification, brand development, increased distribution channels

Benefits of a marketing strategy • Assists in achievement of the business strategy• With a focused goal it can encourage the

development of products; which enable the business to become market leaders

• Increase the brand value • Increase brand/ product awareness• Identify new products/ markets

What is needed to set up a marketing strategy? • Need to consider:-

– Resources and capabilities (within company)– The external (macro environment)– Competitors (Porter’s 5 forces) – Target customers (demographics, geographic, psychographics) – CREATIVITY TO THINK OF SOMETHING UNIQUE.

• This can be achieved through structured market research (qualitative/ quantitative & secondary vs primary data) and undertaking a SWOT analysis.

Competitor identification

Need to consider

• Organisation’s vision• Organisation's value• Organisation’s mission• The business strategy

Marketing Mix

• The marketing mix– Product – Price – Place – Promotion

Promotional Mix

• Advertising • Public Relations• Direct Marketing • Personnel selling • Offers • Sponsorship

DIGITAL MARKETINGCREATE A LOT OF ONLINE NOISE.

• ONLINE PRESENCE IS VITAL. ANYTHING ELECTRONIC WITH A SCREEN NEED TO HAVE YOUR BRAND.

- Social Media - Website - Email campaigns- Analytics - eSurveys/ feedback/ contact forms …. Just a few examples of digital marketing.

OVERALL• SET GOALS & OBJECTIVES. • IDENTIFY RESOURCES AND CAPABILITIES • IDENTIFY COMPETITORS• RESEARCH THE EXTERNAL ENVIRONMENT• IDENTIFY TARGET CUSTOMERSThen ….• DEVELOP MARKETING MIX• DEVELOP PROMOTIONAL MIX • + set up your online presence.