Marketing strategy - Assignment Example

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Marketing strategy

This research is being carried out to evaluate and present some of the generic marketing strategies. Market dominance; this is the portion of the market served by the organization. It is healthier for a business entity to know the size of the market and the percentage it serves. This will enable them determine the quantity of production. Market dominance is grouped into four. These are; leader, challenger, follower and niche. To avoid serious impact, businesses should try to be the market leaders. This can be achieved through direct marketing, publicity and other promotional methods. Growth strategy; this is a strategy aimed at the area of operation, quality of operation and quantity of production. Businesses should spread out their branches over as large region as possible. This may take place in the following directions; horizontal (the operation is expanded geographically), vertical (improvement done on the quality of production and quantity of the produce), diversification and intensification (changes made to include variety of other related commodities for example if previously organization was producing beverages it can incorporate refreshments). Innovation strategy; this strategy aids the invention of new products, new production methods, new markets and new branding. It enhances the sales of the products and results in average increase of sales. Businesses should always try to be the inventors of an idea; the pioneers and not the followers or the late followers. ...Show more

Summary

The focus in this paper is on marketing strategy as a course of action that an organization or business entity uses or applies to allow for the concentration of its scarce resources of maximum opportunity to expand sales and reach a level of sustainable competitive advantage…
Author : gerlachmicaela
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