Marketing Strategies of Bajaj Motors
MARKETING STRATEGY
INTRODUCTION
Marketing strategy is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.
Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives .Marketing is indeed an ancient art; it has been practiced in one form or the other since the days of Adam and Eve. It convergence as a management discipline however is of relatively recent origin
And within this relatively short period, it has gained a great deal of importance and stature. In fact, today most management thinkers and practitioners the world over regard marketing as the most important of all management functions in any and every business. In other words, Marketing strategy is the complete an unbeatable plan designed specifically for attaining the marketing objectives of the firm i.e. what the firm wants to achieve. Thus it takes its direction and cue from the marketing of the firm.
It can be described as STP Segmentation, Training, and Positioning.
Formulation of Marketing Strategies:
1. Selecting the target market.
2. Assembling the marketing mix.
Selecting the target market: The target selection shows to whom the firm intends to sell the product.
It involves the decision on:
a. What parts of the market are to be served?
b. What parts of the market are not to be served? And What is the logic of selecting a particular segment?
When the selection of the target market is over, an important part of the marketing strategy of the firm is already determined, defined and expressed.
Assembling the
INTRODUCTION
Marketing strategy is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.
Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives .Marketing is indeed an ancient art; it has been practiced in one form or the other since the days of Adam and Eve. It convergence as a management discipline however is of relatively recent origin
And within this relatively short period, it has gained a great deal of importance and stature. In fact, today most management thinkers and practitioners the world over regard marketing as the most important of all management functions in any and every business. In other words, Marketing strategy is the complete an unbeatable plan designed specifically for attaining the marketing objectives of the firm i.e. what the firm wants to achieve. Thus it takes its direction and cue from the marketing of the firm.
It can be described as STP Segmentation, Training, and Positioning.
Formulation of Marketing Strategies:
1. Selecting the target market.
2. Assembling the marketing mix.
Selecting the target market: The target selection shows to whom the firm intends to sell the product.
It involves the decision on:
a. What parts of the market are to be served?
b. What parts of the market are not to be served? And What is the logic of selecting a particular segment?
When the selection of the target market is over, an important part of the marketing strategy of the firm is already determined, defined and expressed.
Assembling the