Marketing Strategy & Bcg Consulting Model
Marketing Strategy
At the heart of any business strategy is a marketing strategy
Businesses exist to deliver products that satisfy customers. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. A marketing strategy is composed of several interrelated components called the marketing mix: The Marketing mix consists of answers to a series of product and customer related questions. The Marketing Mix 1. Market selection a. Who are the customers or subset (segment) of customers you are targeting? 2. Product planning a. What products are the company going to design or OEM for the selected customers? b. What are the product features uniquely targeting this market? c. How will the product be packaged? 3. Pricing a. Pricing is a quantitative expression of the value of the product to the customer. b. Pricing should be designed like a feature consistent with the use of the product. c. What will you charge for and How much? d. How will the customer pay and when? e. See also the discussion of the Price/Features matrix 4. Place a. Which channel, direct, wholesale or retail channels best moves and delivers the product and its benefits to the selected market? 5. Promotion a. Positioning: What is the message that states the purpose and benefits of the product in the market and how it competes? b. Selling: Direct or indirect through others? c. Communications How will people be informed
At the heart of any business strategy is a marketing strategy
Businesses exist to deliver products that satisfy customers. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. A marketing strategy is composed of several interrelated components called the marketing mix: The Marketing mix consists of answers to a series of product and customer related questions. The Marketing Mix 1. Market selection a. Who are the customers or subset (segment) of customers you are targeting? 2. Product planning a. What products are the company going to design or OEM for the selected customers? b. What are the product features uniquely targeting this market? c. How will the product be packaged? 3. Pricing a. Pricing is a quantitative expression of the value of the product to the customer. b. Pricing should be designed like a feature consistent with the use of the product. c. What will you charge for and How much? d. How will the customer pay and when? e. See also the discussion of the Price/Features matrix 4. Place a. Which channel, direct, wholesale or retail channels best moves and delivers the product and its benefits to the selected market? 5. Promotion a. Positioning: What is the message that states the purpose and benefits of the product in the market and how it competes? b. Selling: Direct or indirect through others? c. Communications How will people be informed