The Complete Guide to Developing an Effective Marketing Strategy

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A company's marketing strategy defines the methods and actions to implement to achieve its sales objectives. This strategy aims in particular to demonstrate the benefits of an offer to a target customer base and convince them to subscribe.

This therefore assumes that this offer of products or services and their real or perceived values ​​are in line with the expectations of the target.

develop a marketing strategy
Why develop a marketing strategy?
Marketing strategy provides a framework for a company to ensure it achieves its business objectives. It therefore allows it to:

Validate that it meets the requirements of its market,
Identify the needs of its customers to better meet them,
Adapt your positioning or your product or service offering to gain market share.
The different types of marketing strategies
The concentration strategy
A concentration strategy is greece phone number data implemented when a company targets a single market segment. It is also referred to as focus or specialization, as the strategy seeks to attract a niche (i.e., highly targeted) customer base.

Luxury brands, for example, opt for this marketing strategy. However, it can also be suitable for any type of business, as long as they promote a single product or a very limited range.

The differentiation strategy
Differentiation strategy is for companies that target multiple market segments.

Differentiation can then be based on the range of products or services offered, the degree of innovation, or the quality of customer service. The objective of this strategy is to stand out from competitors and gain market share.

Differentiation can be made along two axes, either from above or from below.

The top-down differentiation strategy involves promoting the quality of service or products to improve perceived value. This strategy potentially involves increasing sales prices.

Conversely, the low-cost differentiation strategy leverages lower prices than the competition to attract more potential customers. This is what low-cost companies, in particular, practice.