Unit 6 Marketing strategy




 

Text 1Marketing strategy vs. marketing plan

A company's marketing strategy describes how it will position itself and the products it sells or the services it provides in the competitive marketplace. The strategy includes a discussion of target markets, product and pricing policies, and proposed marketing and promotional initiatives.

The company's marketing plan is the written document which details the marketing methods selected (advertising, price promotions, etc.) and specific marketing actions or marketing activities (for example, a back-to-school promotional offer). It also examines the resources needed (both financial and human) to achieve specified marketing objectives, such as an increase in sales or a successful product launch, over a given period of time.

You can develop a marketing plan using the stages known as AOSTC (Analysis, Objectives, Strategies, Tactics and Control).

 

Analysis   Current market situation Information on the competitors and the marketplace.
Competitor analysis The competition in the marketplace. You will also need to include information on their positioning - how they control the way the customers see the products or services.
Product / service analysis What you sell or provide, and your Unique Selling Point (USP) - that is, what distinguishes your product or service from others on the market.Originally USP stood for Unique Selling Proposition, a concept developed by Rosser Reeves in the 1940s.
Target market Your customer groups or segments - for example, teenagers or business people.
Objectives   Marketing goals What you want to achieve, in terms of image and sales.
Set SMART objectives ■ Specific - Be precise about what you are going to achieve. ■ Measurable - Quantify your objectives. ■ Achievable - Are you attempting too much? ■ Realistic - Do you have the resources to make the objective happen (manpower, money, machines, materials, minutes)? ■ Timed - When will you achieve the objective? (Within a month? By February 2015?)
Strategies   The approach to meeting the objectives ■ Which market segment? ■ How will we target the segment? ■ How should we position within the segment?
Tactics   Convert your strategy into the marketing mix, including the 4 Ps ■ Product ■ Price ■ Place ■ Promotion
Control   Tracking How the success of the marketing plan will be measured. How each marketing activity will be assessed.

 

6.1 Make word combinations with market and marketing using words from the box. Then match the word combinations with the definitions below.

methods mix plan segments strategy target

______________ market ________________

marketing ___________ ___________ __________ _________

1 groups of consumers with similar needs or purchasing desires

2 the consumers, clients or customers you want to attract

3 a definition of the company, the product / service and the competition

4 detailed information about how to fulfil the marketing strategy

5 the techniques you can use to communicate with your consumers

6 the combination of different elements used to market a product or service

 

6.2 Linking ideas. Indicate which of the three linkers is the correct one.

1Sanlito and RKB have only been doing business for a couple of months.

….., Sanlito's management have already given RKB their full confidence.

a) Despite b) Nevertheless c) Besides

2 Their prices are very competitive. ….., we have decided not to do business with them.

a) Nonetheless b) Although c) Furthermore

3 We reached out to customers with special offers, continuity programmes
and appreciation letters. ….. customer retention did not improve.

a) However b) Despite c) Even though

4 Negotiating prices and securing orders is very exciting. ….. ensuring that the customer remains a customer can be a humdrum affair.

a) Moreover b) In spite of c) On the other hand

5 He likes keeping himself to himself. ….. he spends a lot of time

entertaining suppliers.

a) As well as b) Besides c ) Yet

Study these sentences, then decide whether the three statements below are true or false.

• Although their prices are very competitive, we have decided not to do business with them.

• Their advertising campaigns are very unimaginative. Nevertheless, they keep attracting new customers.

a) although, even though, in spite of, despite, nevertheless, nonetheless,
however, yet, on the other hand
are all used to contrast ideas

b) although, even though, in spite of, despite are used to link parts of a sentence together

c) nevertheless, nonetheless, however, yet, on the other hand are used to link ideas across sentences

 

Text 2 Marketing ethics

Social marketing is the use of marketing techniques to convince people to change their behaviour for their own good or for the benefit of society. Encouraging smokers to stop smoking or persuading people to eat more fresh fruit and vegetables are examples. The aim of social marketing is to minimize social problems such as crime or poverty.



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