Marketing warfare strategies are competitor-centered strategies drawn from analogies with the field of military science. Warfare strategies were popular in the 1980s, but interest in this approach has waned in the new era of relationship marketing. An increased awareness of the distinctions between business and military cultures also raises questions about the extent to which this type of analogy is useful. In spite of its limitations, the typology of marketing warfare strategies is useful for predicting and understanding competitor responses.
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.
Whether it's a print ad design, mass customization, or a social media campaign, a marketing asset can be judged based on how effectively it communicates a company's core value proposition. Market research can be helpful in charting the efficacy of a given campaign and can help identify untapped audiences, in order to achieve bottom-line goals and increase sales.
To create an effective DMP, a business first needs to review the marketplace and set 'SMART' (Specific, Measurable, Actionable, Relevant and Time-Bound) objectives. They can set SMART objectives by reviewing the current benchmarks and key performance indicators (KPIs) of the company and competitors. It is pertinent that the analytics used for the KPIs be customised to the type, objectives, mission and vision of the company.
A carefully-cultivated marketing strategy should be fundamentally rooted in a company’s value proposition, which summarizes the competitive advantage a company holds over rival businesses. For example, Walmart is widely known as a discount retailer with “everyday low prices,” whose business operations and marketing efforts revolve around that idea.
Typically the firm will attempt to leverage those opportunities that can be matched with internal strengths; that is to say the firm has a capability in any area where strengths are matched with external opportunities. It may need to build capability if it wishes to leverage opportunities in areas of weakness. An area of weakness that is matched with an external threat represents a vulnerability, and the firm may need to develop contingency plans.
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.
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large". The term developed from the original meaning which referred literally to going to market with goods for sale. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction".
Marketing is not confined to any particular type of economy, because goods must be exchanged and therefore marketed in all economies and societies except perhaps in the most primitive. Furthermore, marketing is not a function that is limited to profit-oriented business; even such institutions as hospitals, schools, and museums engage in some forms of marketing. Within the broad scope of marketing, merchandising is concerned more specifically with promoting the sale of goods and services to consumers (i.e., retailing) and hence is more characteristic of free-market economies.
Cross-platform measurement: The number of marketing channels continues to expand, as measurement practices are growing in complexity. A cross-platform view must be used to unify audience measurement and media planning. Market researchers need to understand how the Omni-channel affects consumer's behaviour, although when advertisements are on a consumer's device this does not get measured. Significant aspects to cross-platform measurement involves deduplication and understanding that you have reached an incremental level with another platform, rather than delivering more impressions against people that have previously been reached (Whiteside, 2016). An example is ‘ESPN and comScore partnered on Project Blueprint discovering the sports broadcaster achieved a 21% increase in unduplicated daily reach thanks to digital advertising’ (Whiteside, 2016). Television and radio industries are the electronic media, which competes with digital and other technological advertising. Yet television advertising is not directly competing with online digital advertising due to being able to cross platform with digital technology. Radio also gains power through cross platforms, in online streaming content. Television and radio continue to persuade and affect the audience, across multiple platforms (Fill, Hughes, & De Franceso, 2013).
Needs: Something necessary for people to live a healthy, stable and safe life. When needs remain unfulfilled, there is a clear adverse outcome: a dysfunction or death. Needs can be objective and physical, such as the need for food, water, and shelter; or subjective and psychological, such as the need to belong to a family or social group and the need for self-esteem.
The role of a social media manager is easy to infer from the title, but which social networks they manage for the company depends on the industry. Above all, social media managers establish a posting schedule for the company's written and visual content. This employee might also work with the content marketing specialist to develop a strategy for which content to post on which social network.
Gap analysis is a type of higher order analysis that seeks to identify the difference between the organisation's current strategy and its desired strategy. This difference is sometimes known as the strategic gap. Mintzberg identifies two types of strategy namely deliberate strategy and inadvertent strategy. The deliberate strategy represents the firm's strategic intent or its desired path while the inadvertent strategy represents the path that the firm may have followed as it adjusted to environmental, competitive and market changes. Other scholars use the terms realized strategy versus intended strategy to refer to the same concepts. This type of analysis indicates whether an organisation has strayed from its desired path during the planning period. The presence of a large gap may indicate the organisation has become stuck in the middle; a recipe for strategic mediocrity and potential failure.
Because digital marketing has so many options and strategies associated with it, you can get creative and experiment with a variety of marketing tactics on a budget. With digital marketing, you can also use tools like analytics dashboards to monitor the success and ROI of your campaigns more than you could with a traditional promotional content -- such as a billboard or print ad.
Taking these statistics into consideration, online marketing is a critical element of a complete marketing strategy. It is vital for marketers to use online tools such as social media and digital advertising, both on website and mobile device applications, and internet forums. Considering an appropriate distribution channel for products purchased online is also an important step.
A generation ago, consumers were at the mercy of advertisers who spoon-fed them marketing messages across a few media channels: print, billboards, television, radio. These advertisers created markets, defining and reinforcing consumer stereotypes. In the 1950s, advertising was primarily a one-way conversation with a captive audience. TV advertising grew and matured into a viable marketing medium. Experts were the style makers.
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably". A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage".
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.
Growing a business isn't easy. First, you need a viable idea. From there, you need to discover a profitable niche, define a target demographic and have something of value to sell them. Whether you're peddling products, services or information, getting the word out has become increasingly burdensome. And without the right marketing strategies to fuel your growth, churning a profit and staying afloat is virtually impossible.
Many companies opt for this marketing technique to boost their sales. People get drawn towards the businesses which are working for a cause. They feel good knowing that their money is being used for a good cause. Therefore, there is no harm to opt for this strategy which benefits you as well as the community. To do this, you need to get into a partnership with a charity organization.
A firm employing a product orientation is mainly concerned with the quality of its product. A product orientation is based on the assumption that all things being equal, consumers will purchase products of superior quality. The approach is most effective when the firm has deep insights into customer needs and desires as derived from research or intuition and understands consumer's quality expectations and price consumers are willing to pay. Although the product orientation has largely been supplanted by the marketing orientation, firms practicing a product orientation can still be found in haute couture and arts marketing.
Where your marketing campaigns live depends entirely on where your customers spend their time. It's up to you to conduct market research that determines which types of marketing -- and which mix of tools within each type -- is best for building your brand. Here are several types of marketing that are relevant today, some of which have stood the test of time:
Testimonials. If case studies aren't a good fit for your business, having short testimonials around your website is a good alternative. For B2C brands, think of testimonials a little more loosely. If you're a clothing brand, these might take the form of photos of how other people styled a shirt or dress, pulled from a branded hashtag where people can contribute.
With the explosion of digital media, people began to engage with each other – and the companies they did business with – in new ways. The relevance of traditional print and broadcast channels declined, completely changing the consumer-corporation dynamic. Digital channels opened doors for consumers. No longer passive participants in a one-sided marketing conversation, consumers became empowered authors, publishers and critics. The digital landscape is participatory, an area where consumers exchange ideas. Marketers no longer drive the discussion. Everyday consumers are now the style makers and trendsetters.
A vision statement is a realistic, long term future scenario for the organisation. (Vision statements should not be confused with slogans or mottos.) A vision statement is designed to present a realistic long-term future scenario for the organisation. It is a "clearly articulated statement of the business scope." A strong vision statement typically includes the following:
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 disadvantage of using the horizontal integration strategy is that this limits and restricts the field of interest that the business. Horizontal integration can affect a business's reputation, especially after a merge has happened between two or more businesses. There are three main benefits to a business's reputation after a merge. A larger business helps the reputation and increases the severity of the punishment. As well as the merge of information after a merge has happened, this increases the knowledge of the business and marketing area they are focused on. The last benefit is more opportunities for deviation to occur in merged businesses rather than independent businesses.
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:
The advertising took place on Instagram and Google. Instagram generally isn't an advertising channel, but when used for branding, you can develop a base of followers that's primed for a gentle product announcement every now and again. Google was definitely used for advertising in this example; the company paid for space on Google -- a program known as pay-per-click (PPC) -- on which to drive traffic to a specific page focused on its product. A classic online ad.
Prioritizing clicks refers to display click ads, although advantageous by being ‘simple, fast and inexpensive’ rates for display ads in 2016 is only 0.10 percent in the United States. This means one in a thousand click ads are relevant therefore having little effect. This displays that marketing companies should not just use click ads to evaluate the effectiveness of display advertisements (Whiteside, 2016).
Video advertising - This type of advertising in terms of digital/online means are advertisements that play on online videos e.g. YouTube videos. This type of marketing has seen an increase in popularity over time. Online Video Advertising usually consists of three types: Pre-Roll advertisements which play before the video is watched, Mid-Roll advertisements which play during the video, or Post-Roll advertisements which play after the video is watched. Post-roll advertisements were shown to have better brand recognition in relation to the other types, where-as "ad-context congruity/incongruity plays an important role in reinforcing ad memorability". Due to selective attention from viewers, there is the likelihood that the message may not be received. The main advantage of video advertising is that it disrupts the viewing experience of the video and therefore there is a difficulty in attempting to avoid them. How a consumer interacts with online video advertising can come down to three stages: Pre attention, attention, and behavioural decision. These online advertisements give the brand/business options and choices. These consist of length, position, adjacent video content which all directly affect the effectiveness of the produced advertisement time, therefore manipulating these variables will yield different results. Length of the advertisement has shown to affect memorability where-as longer duration resulted in increased brand recognition. This type of advertising, due to its nature of interruption of the viewer, it is likely that the consumer may feel as if their experience is being interrupted or invaded, creating negative perception of the brand. These advertisements are also available to be shared by the viewers, adding to the attractiveness of this platform. Sharing these videos can be equated to the online version of word by mouth marketing, extending number of people reached. Sharing videos creates six different outcomes: these being "pleasure, affection, inclusion, escape, relaxation, and control". As well, videos that have entertainment value are more likely to be shared, yet pleasure is the strongest motivator to pass videos on. Creating a ‘viral’ trend from mass amount of a brands advertisement can maximize the outcome of an online video advert whether it be positive or a negative outcome.
This type of marketing strategy is used to gain resurgence in the audience in a short span of time by hacking into one of the internet marketing strategies. There are many professionals who can do this job for you in return for money. One method is to try several marketing strategies simultaneously. You can get a huge amount of data by following this technique.
Understanding Mobiles: Understanding mobile devices is a significant aspect of digital marketing because smartphones and tablets are now responsible for 64% of the time US consumers are online (Whiteside, 2016). Apps provide a big opportunity as well as challenge for the marketers because firstly the app needs to be downloaded and secondly the person needs to actually use it. This may be difficult as ‘half the time spent on smartphone apps occurs on the individuals single most used app, and almost 85% of their time on the top four rated apps’ (Whiteside, 2016). Mobile advertising can assist in achieving a variety of commercial objectives and it is effective due to taking over the entire screen, and voice or status is likely to be considered highly; although the message must not be seen or thought of as intrusive (Whiteside, 2016). Disadvantages of digital media used on mobile devices also include limited creative capabilities, and reach. Although there are many positive aspects including the users entitlement to select product information, digital media creating a flexible message platform and there is potential for direct selling (Belch & Belch, 2012).
Brand awareness has been proven to work with more effectiveness in countries that are high in uncertainty avoidance, also these countries that have uncertainty avoidance; social media marketing works effectively. Yet brands must be careful not to be excessive on the use of this type of marketing, as well as solely relying on it as it may have implications that could negatively harness their image. Brands that represent themselves in an anthropomorphizing manner are more likely to succeed in situations where a brand is marketing to this demographic. "Since social media use can enhance the knowledge of the brand and thus decrease the uncertainty, it is possible that people with high uncertainty avoidance, such as the French, will particularly appreciate the high social media interaction with an anthropomorphized brand." Moreover, digital platform provides an ease to the brand and its customers to interact directly and exchange their motives virtually.
Today, YouTube is the second largest search engine in the world behind Google. Whenever someone wants to learn something visually, they head there. You've likely done it yourself countless times. So just ask yourself what you could teach in your business that would help consumers solve some pain point? What got you into business in the first place?
Advertising, or promotion, is only one component of your marketing plan. The marketing process begins with the idea for your product and continues until that product is in the hands of a consumer who bought it. Even after a customer has made a purchase, your marketing shouldn't end—a portion of your advertising should be targeted at current customers to ensure they remain customers and increase loyalty.
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. Scales designed to measure a firm's overall market orientation have been developed and found to be robust in a variety of contexts.
Porter's approach was the dominant paradigm throughout the 1980s. However, the approach has attracted considerable criticism. One important criticism is that it is possible to identify successful companies that pursue a hybrid strategy - such as low cost position and a differentiated position simultaneously. Toyota is a classic example of this hybrid approach. Other scholars point to the simplistic nature of the analysis and the overly prescriptive nature of the strategic choices which limits strategies to just three options. Yet others point to research showing that many practitioners find the approach to be overly theoretical and not applicable to their business.
Market nicher: The market nicher occupies a small niche in the market in order to avoid head to head competition. Their objective is to build strong ties with the customer base and develop strong loyalty with existing customers. Their market posture is generally neutral. Their strategy is to develop and build the segment and protect it from erosion. Tactically, nichers are likely to improve the product or service offering, leverage cross-selling opportunities, offer value for money and build relationships through superior after sales service, service quality and other related value adding activities.
Advertising: The information you gather in your research will help you define your marketing strategy and create an advertising campaign. Campaigns can include different forms of media, events, direct advertising, paid partnerships, public relations, and more. Before beginning an advertising campaign, set concrete benchmarks that you can use to measure how effective that advertising campaign is.
Being a Market Pioneer can, more often than not, attract entrepreneurs and/or investors depending on the benefits of the market. If there is an upside potential and the ability to have a stable market share, many businesses would start to follow in the footsteps of these pioneers. These are more commonly known as Close Followers. These entrants into the market can also be seen as challengers to the Market Pioneers and the Late Followers. This is because early followers are more than likely to invest a significant amount in Product Research and Development than later entrants. By doing this, it allows businesses to find weaknesses in the products produced before, thus leading to improvements and expansion on the aforementioned product. Therefore, it could also lead to customer preference, which is essential in market success. Due to the nature of early followers and the research time being later than Market Pioneers, different development strategies are used as opposed to those who entered the market in the beginning, and the same is applied to those who are Late Followers in the market. By having a different strategy, it allows the followers to create their own unique selling point and perhaps target a different audience in comparison to that of the Market Pioneers. Early following into a market can often be encouraged by an established business’ product that is “threatened or has industry-specific supporting assets”.
A firm focusing on a production orientation specializes in producing as much as possible of a given product or service in order to achieve economies of scale or economies of scope. A production orientation may be deployed when a high demand for a product or service exists, coupled with certainty that consumer tastes and preferences remain relatively constant (similar to the sales orientation). The so-called production era is thought to have dominated marketing practice from the 1860s to the 1930s, but other theorists argue that evidence of the production orientation can still be found in some companies or industries. Specifically, Kotler and Armstrong note that the production philosophy is "one of the oldest philosophies that guides sellers... [and] is still useful in some situations."