Prepared by a marketing lecturer, designed for university-level students
The most appropriate marketing strategy for an organization will depend upon the marketing environment in which it operates. There are three broad categories of the marketing environment, which are:
One of the very common analytical approaches in strategic planning is SWOT analysis. The first letter stands for “strengths” and the first letter stands for “opportunities”. These two letters, or parts of the SWOT analysis, … Read more...
Core competencies are special skills and capabilities of the firm that provides some competitive advantage in the marketplace. We are primarily interested in those skills and capabilities that allow the firm/brand to deliver superior customer value.… Read more...
Any organization/brand is faced with an almost unlimited selection of choices and opportunities in the marketplace. For example, there are literally thousands of different ways that firms can choose to promote their activities. There are millions of different products available … Read more...
It is sometimes confusing distinguishing between strategies and tactics as they refer to interdependent aspects of marketing activities. Basically, strategy refers to major decisions that impact the competitive position of a firm, whereas tactics are the activities that support … Read more...
Marketing strategy is designed to deliver short-term financial and marketing goals and to build and strengthen the firm’s competitive advantages over time. A firm that has significant competitive advantages will enjoy greater profitability and stability of performance.
A key model in marketing is the marketing mix, usually known as the 4P’s (where the 4P’s are product, price, place and promotion). The 4P’s marketing mix model is commonly covered in all … Read more...
It’s a common cliché to under-promise and over-deliver, which even some marketing consultants and professional speakers have tended to suggest. The problem with this approach is that it is based on a very simplistic understanding … Read more...