Market challenger: The market challenger holds the second highest market share in the category, following closely behind the dominant player. Their market posture is generally offensive because they have less to lose and more to gain by taking risks. They will compete head to head with the market leader in an effort to grow market share. Their overall strategy is to gain market share through product, packaging and service innovations; new market development and redefinition of the to broaden its scope and their position within it. Digital marketing
Key Ideas: Each business is unique and that there can be no formula for achieving competitive advantage; firms should adopt a flexible planning and review process that aims to cope with strategic surprises and rapidly developing threats; management's focus is on how to deliver superior customer value; highlights the key role of marketing as the link between customers and the organisation.
A key objective is engaging digital marketing customers and allowing them to interact with the brand through servicing and delivery of digital media. Information is easy to access at a fast rate through the use of digital communications. Users with access to the Internet can use many digital mediums, such as Facebook, YouTube, Forums, and Email etc. Through Digital communications it creates a multi-communication channel where information can be quickly shared around the world by anyone without any regard to who they are.[37] Social segregation plays no part through social mediums due to lack of face to face communication and information being wide spread instead to a selective audience. This interactive nature allows consumers create conversation in which the targeted audience is able to ask questions about the brand and get familiar with it which traditional forms of Marketing may not offer.[38]
Affiliate marketing is one of the oldest forms of marketing, and the Internet has brought new life to this old standby. With affiliate marketing, influencers promote other people’s products and get a commission every time a sale is made or a lead is introduced. Many well-known companies like Amazon have affiliate programs that pay out millions of dollars per month to websites that sell their products.
Strategic planning typically begins with a scan of the business environment, both internal and external, this includes understanding strategic constraints.[54] An understanding of the external operating environment, including political, economic, social and technological which includes demographic and cultural aspects, is necessary for the identification of business opportunities and threats.[55] This analysis is called PEST; an acronym for Political, Economic, Social and Technological. A number of variants of the PEST analysis can be identified in literature, including: PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental); STEEPLE (adds ethics); STEEPLED (adds demographics) and STEER (adds regulatory).[56]
Strategic analysis is designed to address the first strategic question, "Where are we now?" [12] Traditional market research is less useful for strategic marketing because the analyst is not seeking insights about customer attitudes and preferences. Instead strategic analysts are seeking insights about the firm's operating environment with a view to identifying possible future scenarios, opportunities and threats.
There are many kinds of advertising that you can use to promote your business, teach customers about your products, and generate sales. Print, radio, and television campaigns are types of advertising, as are direct mail, email, and internet marketing. If you have a website, it should be optimized for search to help customers find it through search engines like Google, Yahoo!, and Bing. Newsletters, press releases, and articles are also forms of marketing used to capture leads and generate sales. Some companies also use referral marketing, where satisfied customers refer others (often for a reward) to increase business.
A strategic business unit (SBU) is a subsidiary within a firm, which participates within a given market/industry. The SBU would embrace the corporate strategy, and attune it to its own particular industry. For instance, an SBU may partake in the sports goods industry. It thus would ascertain how it would attain additional sales of sports goods, in order to satisfy the overall business strategy.
A 2011 meta analyses[37] found that the factors with the greatest impact on sales performance are a salesperson's sales related knowledge (knowledge of market segments, sales presentation skills, conflict resolution, and products), degree of adaptiveness (changing behavior based on the aforementioned knowledge), role clarity (salesperson's role is expressly to sell), cognitive aptitude (intelligence) and work engagement (motivation and interest in a sales role).
Define your marketing methods. Once you understand your customers, market, and resources, choose the marketing mix that will most effectively promote your business and share your USP. How can you show customers the value of your products or services and persuade them to make a purchase? Will direct mail, online advertising, SEO, TV ads, or trade shows be an effective way to reach customers? What strategies are your competitors using? Will any of those work for you, or do you need different marketing tools?
Simply put, digital marketing is the promotion of products or brands using electronic devices or the internet. It also includes text messaging, instant messaging, video, apps, podcasts, electronic billboards, digital television and radio channels, etc. Digital marketing uses multiple channels and technologies that allow an organization to analyze campaigns, content and strategy to understand what’s working and what isn’t – typically in real time.
Social Media Marketing - The term 'Digital Marketing' has a number of marketing facets as it supports different channels used in and among these, comes the Social Media. When we use social media channels ( Facebook, Twitter, Pinterest, Instagram, Google+, etc.) to market a product or service, the strategy is called Social Media Marketing. It is a procedure wherein strategies are made and executed to draw in traffic for a website or to gain attention of buyers over the web using different social media platforms.
The kind of content you create depends on your audience's needs at different stages in the buyer's journey. You should start by creating buyer personas (use these free templates, or try makemypersona.com) to identify what your audience's goals and challenges are in relation to your business. On a basic level, your online content should aim to help them meet these goals, and overcome their challenges.
However, identifying the right strategies to market your business is often likened to rocket science. How do you get your message to the right audience and do it effectively? How do you boost visibility and increase sales while sustaining a profit with a converting offer? Today, with so much vying for our attention from social media, to search engine optimization, blogging and pay-per-click advertising, it's easy to see why most are ready to pull their hair out.
Strategic analysis is designed to address the first strategic question, "Where are we now?" [12] Traditional market research is less useful for strategic marketing because the analyst is not seeking insights about customer attitudes and preferences. Instead strategic analysts are seeking insights about the firm's operating environment with a view to identifying possible future scenarios, opportunities and threats. What is digital marketing | digital marketing basics| digital marketing introduction| Tutorial
It is essential that the internal analysis provide a frank and open evaluation of the firm's superiority in terms of skills, resources or market position since this will provide the basis for competing over the forthcoming planning period. For this reason, some companies engage external consultants, often advertising or marketing agencies, to provide an independent assessment of the firms capabilities and resources.
Digital marketing is defined by the use of numerous digital tactics and channels to connect with customers where they spend much of their time: online. From the website itself to a business's online branding assets -- digital advertising, email marketing, online brochures, and beyond -- there's a spectrum of tactics that fall under the umbrella of "digital marketing." HOW TO BECOME A DIGITAL MARKETING CONSULTANT | My Path, Mistakes and Keys to Success
Digital marketing activity is still growing across the world according to the headline global marketing index. A study published in September 2018, found that global outlays on digital marketing tactics are approaching $100 billion.[49] Digital media continues to rapidly grow; while the marketing budgets are expanding, traditional media is declining (World Economics, 2015).[50] Digital media helps brands reach consumers to engage with their product or service in a personalised way. Five areas, which are outlined as current industry practices that are often ineffective are prioritizing clicks, balancing search and display, understanding mobiles, targeting, viewability, brand safety and invalid traffic, and cross-platform measurement (Whiteside, 2016).[51] Why these practices are ineffective and some ways around making these aspects effective are discussed surrounding the following points.
Market leader: The market leader dominates the market by objective measure of market share. Their overall posture is defensive because they have more to lose. Their objectives are to reinforce their prominent position through the use of PR to develop corporate image and to block competitors brand for brand, matching distribution through tactics such as the use of “fighting” brands, pre-emptive strikes, use of regulation to block competitors and even to spread rumours about competitors. Market leaders may adopt unconventional or unexpected approaches to building growth and their tactical responses are likely to include: product proliferation; diversification; multi-branding; erecting barriers to entry; vertical and horizontal integration and corporate acquisitions.
Key Ideas: Each business is unique and that there can be no formula for achieving competitive advantage; firms should adopt a flexible planning and review process that aims to cope with strategic surprises and rapidly developing threats; management's focus is on how to deliver superior customer value; highlights the key role of marketing as the link between customers and the organisation.
The marketing orientation is the most common orientation used in contemporary marketing. It is a customer-centric approach that involves a firm basing its marketing program around products that suit new consumer tastes. Firms adopting a marketing orientation typically engage in extensive market research to gauge consumer desires, use R&D (Research & Development) to develop a product attuned to the revealed information, and then utilize promotion techniques to ensure consumers are aware of the product's existence and the benefits it can deliver.[39] Scales designed to measure a firm's overall market orientation have been developed and found to be robust in a variety of contexts.[40]
Vertical integration is when business is expanded through the vertical production line on one business. An example of a vertically integrated business could be Apple. Apple owns all their own software, hardware, designs and operating systems instead of relying on other businesses to supply these.[88] By having a highly vertically integrated business this creates different economies therefore creating a positive performance for the business.[citation needed] Vertical integration is seen as a business controlling the inputs of supplies and outputs of products as well as the distribution of the final product.[citation needed] Some benefits of using a Vertical integration strategy is that costs may be reduced because of the reducing transaction costs which include finding, selling, monitoring, contracting and negotiating with other firms. Also by decreasing outside businesses input it will increase the efficient use of inputs into the business. Another benefit of vertical integration is that it improves the exchange of information through the different stages of the production line.[citation needed] Some competitive advantages could include; avoiding foreclosures, improving the business marketing intelligence, and opens up opportunities to create different products for the market.[89] Some disadvantages of using a Vertical Integration Strategy include the internal costs for the business and the need for overhead costs. Also if the business is not well organised and fully equipped and prepared the business will struggle using this strategy. There are also competitive disadvantages as well, which include; creates barriers for the business, and loses access to information from suppliers and distributors.[89]
A 2011 meta analyses[37] found that the factors with the greatest impact on sales performance are a salesperson's sales related knowledge (knowledge of market segments, sales presentation skills, conflict resolution, and products), degree of adaptiveness (changing behavior based on the aforementioned knowledge), role clarity (salesperson's role is expressly to sell), cognitive aptitude (intelligence) and work engagement (motivation and interest in a sales role).
Email marketing is still one of the most effective digital marketing channels. Many people confuse email marketing with spam email messages, but that’s not what email marketing is all about. Email marketing is the medium to get in touch with your potential customers or the people interested in your brand. Many digital marketers use all other digital marketing channels to add leads to their email lists and then, through email marketing, they create customer acquisition funnels to turn those leads into customers.

Barney stated that for resources to hold potential as sources of sustainable competitive advantage, they should be valuable, rare and imperfectly imitable.[75] A key insight arising from the resource-based view is that not all resources are of equal importance nor possess the potential to become a source of sustainable competitive advantage.[73] The sustainability of any competitive advantage depends on the extent to which resources can be imitated or substituted.[6] Barney and others point out that understanding the causal relationship between the sources of advantage and successful strategies can be very difficult in practice.[75] Barney uses the term "causally ambiguous" which he describes as a situation when "the link between the resources controlled by the firm and the firm's sustained competitive advantage is not understood or understood only very imperfectly." Thus, a great deal of managerial effort must be invested in identifying, understanding and classifying core competencies. In addition, management must invest in organisational learning to develop and maintain key resources and competencies.

Inbound marketing refers to a marketing methodology wherein you attract, engage, and delight customers at every stage of the buyer's journey. You can use every digital marketing tactic listed above, throughout an inbound marketing strategy, to create a customer experience that works with the customer, not against them. Here are some classic examples of inbound marketing versus traditional marketing: 

Define your marketing methods. Once you understand your customers, market, and resources, choose the marketing mix that will most effectively promote your business and share your USP. How can you show customers the value of your products or services and persuade them to make a purchase? Will direct mail, online advertising, SEO, TV ads, or trade shows be an effective way to reach customers? What strategies are your competitors using? Will any of those work for you, or do you need different marketing tools?


Those engaging with your company online via mobile devices need to have the same positive experience as they would on desktop. This means implementing a mobile-friendly or responsive website design to make browsing user-friendly for those on mobile devices. It might also mean reducing the length of your lead generation forms to create a hassle-free experience for people downloading your content on-the-go. As for your social media images, it's important to always have a mobile user in mind when creating them as image dimensions are smaller on mobile devices, meaning text can be cut-off.
The third and final stage requires the firm to set a budget and management systems; these must be measurable touchpoints, such as audience reached across all digital platforms. Furthermore, marketers must ensure the budget and management systems are integrating the paid, owned and earned media of the company.[84] The Action and final stage of planning also requires the company to set in place measurable content creation e.g. oral, visual or written online media.[85]
In the parlance of digital marketing, advertisers are commonly referred to as sources, while members of the targeted ads are commonly called receivers. Sources frequently target highly specific, well-defined receivers. For example, after extending the late-night hours of many of its locations, McDonald's needed to get the word out. It targeted shift workers and travelers with digital ads because the company knew that these people made up a large segment of its late-night business. McDonald's encouraged them to download a new Restaurant Finder app, targeting them with ads placed at ATMs and gas stations, as well as on websites that it knew its customers frequented at night.
This refers to how the product gets to the customer; the distribution channels and intermediaries such as wholesalers and retailers who enable customers to access products or services in a convenient manner. This third P has also sometimes been called Place or Placement, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales. [44] 5 Digital Marketing Skills to Master for 2020 & Beyond
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