What to pay attention to? For a strategy to work, it is important to set measurable, achievable and specific goals. Also, before developing a plan, it is necessary to study competitors, the market and your own product, after which promotion channels are selected.
In this article:
The essence of the promotion strategy
Types of promotion strategies
Preliminary stage of development of promotion strategy
Stages of developing a promotion strategy<
Popular promotion channels
The nuances of developing a area code philippines mobile strategy for promotion in social networks
Examples of successful promotion strategies
Mistakes in developing a promotion strategy
Frequently asked questions about developing a promotion strategy
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The essence of the promotion strategy
The activity of any company is impossible without having its own strategy, which takes into account the available resources, the specifics of the industry and production, the current stage of project implementation, and the market situation.
The promotion strategy is part of the overall development strategy of the enterprise. It is presented as a separate document containing a detailed plan of marketing actions to achieve the set goals.
The essence of the promotion strategy
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Goals should be consistent with the organization's capabilities and include precise target values. Avoid vague statements like "increase overall revenue" — the goal should be clearly described and specific deadlines should be set.
Examples of possible goals: increase market coverage, become a segment leader, release new products, increase wholesale sales, etc.
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Types of promotion strategies
The development of a product promotion strategy is carried out in accordance with external and internal factors, the point of view of managers regarding business prospects.
In general, promotion can be carried out in three ways.
Compulsion . Due to high demand for goods, trading companies are encouraged to make purchases.
Pushing . Bulk deliveries to intermediaries who offer the product to the consumer.
Integrated promotion , which combines the two previous methods.
Marketing strategies differ in the form of influence (rational and emotional), in the object of influence (product and prestige), in functions (informative, persuasive and reminder).
Depending on the presence in the market segment and target audience, promotion is divided into promotion for the mass consumer and for narrow categories.
Types of promotion strategies
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Taking into account all of the above, promotion can take a wide variety of forms:
Basic strategic marketing consists of increasing the coverage of currently occupied markets . By improving technologies or optimizing production, superiority over competitors is achieved and the market position is strengthened.
However, implementing the strategy comes at a cost, as it requires upgrading and reducing prices to gain a competitive advantage.
Strategic development in developed markets . It is advisable if the company operates stably. The main disadvantage of the strategy is that it can be easily repeated by competitors.
Strategic development of a new market . Associated with large investments, characterized by increased activity in the course of capturing new segments and strong competition.
Diversification, introduction of new products to new markets . Only large-scale businesses that are able to find a way out of difficult situations and exercise effective management can work successfully in this direction.
Business winding down . Concession of one's market share to another enterprise for money.
The strategies given in practice almost always undergo changes. Thus, to achieve greater effect, a segmentation strategy is used, when promotion is concentrated on individual sections of the market. Due to this, it is possible to more accurately distribute resources and set priorities.
Types of promotion strategies
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The best result is achieved by combining with diversification. Large companies are capable of multiple segmentation with broad diversification, medium-sized companies are capable of one-dimensional segmentation taking into account their specialization, and small companies can cooperate with successful firms.
Smaller organizations are less susceptible to market fluctuations.
The so-called marketing mix, when developing a strategy, attention is paid to the essential components of promotion: the human factor, product and pricing policy, distribution channels, advertising campaigns. Many business strategies are based primarily on such marketing.
Cost focus. Simply put, this is dumping - offering more favorable prices compared to competitors. It operates in a small market segment where the product range is limited. Lowering prices leads to a weakening of the influence of competitors.
Gaining a differential advantage (focused differentiation). Here, price reduction is combined with an increase in the quality of basic and complementary goods.
There is no generally accepted classification of marketing strategies yet. In each