Currently it is common to get in many places the reference to the market or marketing, which is usually related to commercial activity. So if you want to know what Marketing is and how is its strategic development as a main function in a company, here we explain it to you.
What is marketing?
Marketing or translated as marketing, is the study and art of researching, founding and providing value for meet the needs of a specific market. Marketing allows detecting needs, specifying in a quantified way the size of the identified market and the potential profit that exists.
In summary, marketing is a set of strategies, technical and operational, whose goal is to add value to certain brands or products. This achieves a specific purpose, and that is attach greater importance for a certain public and consumer in the commercial field.
What is Strategic Marketing Development?
Strategic marketing is the marketing perspective which focuses on short, medium and long term results. It exposes the idea of the study, evolution and implementation of actions that are not limited to current demands, but to satisfy future needs.
In other words, the development of marketing is based on the area axis, but only when we define all the stages of the process do we understand the importance of it. Modern marketing has taken more advanced forms in ways that together turn into a potentially confusing discipline.
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Strategic Business Planning
Marketing planning is a part of the strategic planning of a company that aims to develop action programs. These schemes are established and materialized in the marketing plan and its formulation, application and management of the area in the company.
Development of the commercial strategy
The marketing strategy formulation method can be summarized in three fundamental aspects for the company to achieve its objective.
- Where we are?
- Where do we want to go?
- How will we get there?
It is important to answer these three questions, for example the first is due apply an analysis, to the second the objectives and finally the development of the strategies.
In this factor, the following aspects should be taken into account, these are essential when establishing a marketing objective.
- Concept of company and product marketIn short, the definition of the company and the product it sells or the service it offers must be formulated.
- Analyze the market as its potential size and consumption pattern and purchasing power, as well as in demand.
- It is essential that it be carried out a study of the environment, which implies being attentive to changes in the micro and macro environment.
- A determining factor for a company is to internally analyze resources and capabilities.
- Finally, it is important to have enough data that are useful for decision-making, these can be internal or external.
Defining the objectives
- Break new ground with article launches and withdrawal of the current ones.
- To gain an advantage in buying and selling items.
- Raise market share.
- Increase profitability.
Develop Strategic Actions
Having a complete and elevated development will allow competitive advantages arise in aspects such as products, markets and resources that help achieve the objectives.
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- Marketing-MIX offers a specific approach combining different instruments such as price, distribution, product, promotion to increase competitive advantages.
- Having strategy models allows you to achieve the objective using different models and plans to obtain results that generate more value.
- Expansion strategies depending on the product offered.
- Depending on the rival advantage pursued, a generic strategy is designed with factors such as costs, differentiation and focus.
- Behavior within the trade as advocates, prospects, analytics and reactors.
- Be subject to strategies of leader, editor, follower, specialist These will allow you to face the competition.
- And depending on the type of product, whether it is generic, household appliances, automobiles, applying strategies such as Push, Push-Pull and Pull.
Taking into account the factors and concepts explained, you will be able to develop a effective marketing strategy for your business, this data is effective.
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