Meaning And Definition Of Marketing Strategy Pdf

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Everything you need to know about marketing strategies.

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The Marketing Strategy Continuum: Towards a Marketing Concept for the 1990s

To browse Academia. Skip to main content. By using our site, you agree to our collection of information through the use of cookies. To learn more, view our Privacy Policy. Log In Sign Up. Download Free PDF. Marketing strategy From the origin of the concept to the development of a conceptual framework. Mohamed Ahmed. Eric Shaw. Download PDF. A short summary of this paper. The current issue and full text archive of this journal is available at www.

Findings — Along with marketing ideas, strategy concepts from managerial economics and from corporate management were absorbed directly into the corpus of strategic marketing thought. These three streams of research have converged into the current state of marketing strategy — an eclectic mixture of both complementary and conflicting strategic approaches, terms and concepts. By systematically following the evolutionary development of major contributions to strategic marketing thought and by redefining terms and refining concepts the various approaches to strategy can be integrated into a comprehensive conceptual framework for organizing and choosing among individual marketing strategies.

It provides a researcher with a consistent set of terms and concepts to build upon. Keywords History of marketing thought, Business strategy, Marketing strategy, Management strategy, Marketing management strategy, Strategic marketing, Segmentation, Targeting, Marketing mix Paper type Research paper Using an appropriate marketing strategy is a critical element for business success.

Choosing an effective strategy requires knowledge of what various alternative marketing strategies exist and understanding how they work under varying environmental and organizational conditions. To find the answers, several fundamental questions guide this research: when and where did the notion of marketing strategy originate? Who are the key scholars who developed the basic strategic terms and concepts? What is the current state of marketing strategy? Why did strategic terms and concepts become so inconsistent and contradictory?

How can a Journal of Historical Research in marketing strategy be improved? The purpose of this article in addressing these Marketing questions is to use the history of marketing thought to inform current marketing Vol. Developments in marketing thought are used to organize the q Emerald Group Publishing Limited X various isolated strategic approaches into a logically coherent framework.

The DOI In a dialogue, Xenophon , pp. Compared to the practice of marketing, which goes back thousands of years Jones and Shaw, , the academic discipline of marketing emerged much more recently, starting around the turn of the twentieth century in the US Bartels, Despite the title, however, neither the term nor the concept of marketing strategy appears in any of the forty readings. The problem is that like many authors, Rosenberg , p.

These terms are not synonymous. Marketing covers an entire discipline that contains both micro e. One micro perspective is marketing management, which includes planning among several other areas. Planning involves establishing goals and developing marketing strategy; a strategy being the chosen means to achieve the goal. There are virtually no discussions using the term strategy in the early marketing periodical literature and nearly none in the Marketing Principles texts, which generally were more macro in orientation Bartels, ; Wilkie and Moore, ; Sheth et al.

This later emergence of the term provides strong evidence that strategy is associated with developments in marketing management that occurred in the s and thereafter. Also paralleling marketing, aside from a few isolated mentions of the term strategy prior to the s e. Like Bartels in marketing, Chandler , p. With few exceptions, the earliest academic approaches to history of marketing strategy thinking are found in the s literature of both managerial economics e.

Dean, ; Forrester, and marketing management Alderson chapter in Alexander et al. These strategic concepts were absorbed into the emerging marketing management school of thought in the late s and early s e. Kelley and Lazer, ; McCarthy, ; Davis, Subsequently, corporate strategy concepts developed in the mids e.

Ansoff, ; Learned et al. Kotler, ; McCarthy, As more recent strategic concepts and approaches were introduced in the s e. Henderson, , and s Porter, , , , they too were added bit by bit to the marketing textbooks of the times e.

This has produced a semantic jungle of strategy terms, obscuring and almost obliterating the development of improved strategic concepts, resulting in multiple conflicting approaches to marketing management strategy. Thus, the present state of marketing strategy knowledge is inconsistent at best and incoherent at worst. The current work seeks to organize the numerous isolated approaches to marketing strategy into a single logically coherent framework.

These two parts of a marketing strategy are fundamental because customer targets represent the demand 33 side of the market see Robinson, on one hand, and the marketing mix represents the supply side of the market see Chamberlin, on the other. Over the decades, subsequent marketing thinkers have continually embraced this two-part definition McCarthy, ; Kotler, ; Enis, ; Lazer and Culley, ; Cravens, ; Czepiel, ; Kerin and Peterson, ; Boone and Kurtz, ; Kotler and Keller, , etc.

Difficulties arise over the meaning of even the most basic marketing strategies. For example, Dickson and Ginter , p. And segmentation and differentiation represent two of the oldest and most central strategies in the marketing literature. In addition to the semantics jungle, another problem is that the sources of early marketing strategy concepts are seldom referenced in the marketing literature making it difficult to follow the evolution of strategy concepts from their origin to the present.

And yet, because complexity arises over time from simplicity Simon, , it is necessary to trace the history of strategy concepts from their beginning to understand how we arrived at the present state of disarray and attempt to bring order out of the chaos. Along with the idiosyncratic usage of terms, and the sketchy origin and development of many strategic concepts, a more fundamental problem is the lack of an underlying framework for marketing strategy.

While there have been several alternative approaches to describe various marketing strategies, some approaches are borrowed whole and unchanged from corporate management strategy — without regard to how well the concepts might fit into marketing strategy.

For example, of two popular approaches to corporate strategy, by Ansoff and Porter, one or the other is found in almost all marketing management and marketing strategy textbooks, but seldom are both discussed in the same book.

No doubt useful in 34 developing corporate strategy for which they were originally intended, and which encompasses a broader perspective than marketing strategies, both the growth and generic approaches to corporate strategy create some inconsistencies when applied directly to marketing strategy. Not only have these strategic approaches been treated independently without attempting to relate them to each other in the marketing literature, but neither has been integrated with early strategic marketing thought, discussed shortly.

In effect, this would provide a toolkit of feasible strategies from which a marketing manager could choose the strategy deemed most effective to achieve a desired goal. Early marketing strategy concepts Before marketing strategy developed as an off-shoot of marketing management in the s, even before marketing management emerged as a school of thought in the s to replace the traditional approaches to marketing Bartels, ; Sheth et al. Subsequently, in an obscure unpublished working paper, Borden produced a marketing mix checklist with 12 sections containing more than two-dozen subsections.

Not surprisingly, as the variables most easily controlled by marketing managers, the majority of strategies discussed in the following sections involve either adding or subtracting various ingredients to the marketing mix. In product differentiation, according to Smith , p. With segmentation, a firm recognizes that it faces multiple demand curves, because customer preferences are heterogeneous, and focuses on serving one or more specific target segments within the overall market.

A comparison of these two approaches is illustrated in Figure 1. Ultimately, as Oxenfeldt observed, strategies in marketing must emphasize either targeting customer segments the demand side of the market or differentiating the marketing mix the supply side of the market.

Figure 1. Product differences are used in a broad sense, according to Chamberlin , p. Segmentation was based on the work of Robinson , p.

Market segmentation may be defined as subdividing a heterogeneous market into more homogeneous subgroups based on some common customer characteristics, such as age, location, time of purchase or purchase frequency.

Segmentation strategy has been expanded into several forms, such as niche, multi-segment and across-the-board targeting strategies Alderson, ; Kotler, ; McCarthy, In distinguishing between these alternative strategies, Smith , p.

Aiming to serve a small subset of customers especially well, a segmentation strategy represents a rifle approach aiming a distinct marketing mix at each targeted segment from niche to across-the-board that the firm serves Perreault et al.

Alternatively, aiming to satisfy most customers reasonably well, in a differentiation strategy the firm designs a mix that stands out from competition and uses a shotgun approach pointed at the mass market or large customer segment. Price skimming works because different customers have differing social status needs, incomes and price sensitivities; and those with high income or low price sensitivity, for example, can be viewed as a homogeneous segment within the overall heterogeneous market.

By capturing consumer surplus i. The alternative introductory pricing strategy is to rapidly penetrate the market. With penetration pricing a firm continues its initial low price from introduction to rapidly capture sales and market share, but with lower profit margins than skimming. Although revenues are lower, penetration provides a barrier to entry because competitors are less attracted to a market with reduced profitability. He recognized the advantage of combining high promotional expenditures with low price to even more rapidly penetrate the market than using either marketing mix ingredient alone.

Dean also appreciated that fewer promotional dollars but greater targeting effort were Figure 2. Skimming and penetration pricing strategies are still found in almost all modern marketing management and marketing strategy textbooks, almost always without attribution.

Although the concepts remain the same fast and slow penetration versus fast and slow skimming , the terminology is refined in his edition. This example shows the difficulty in anchoring strategic terms and concepts without a well-grounded conceptual framework. Different terms but similar concepts. It is difficult to say who deserves priority of claim. Alderson and Dean produced three and five stage versions of the PLC. When interviewed by Muhs , Forrester said several PLC concepts were already in the literature; whereas Conrad thought he had originated at least some of the ideas Muhs, All of these variables are captured by time, which is a proxy for all independent variables.

Although, there are many variations see Lazer and Shaw, , the life cycle starts when a new product is introduced into the market. Sales start out slowly as customers first become aware of the new product and then develop a desire for it.

New competitors entering the market create the rapid growth stage of the PLC because increased competition creates greater product variation and lower prices, along with heavier advertising and more extensive distribution.

During the rapid growth stage, sales sooner or later reach an inflection point where demand shifts from increasing at an accelerating Figure 3. As sales approach the market potential i. In reaction, competitive 40 marketing mixes and market shares often stabilize as well and the product enters the maturity stage of the life cycle.

Marketing Strategy

In this article the marketing strategy continuum concept is presented and a number of marketing and management consequences are discussed. It demonstrates the need for a marketing concept which allows a variety of approaches to marketing. The nature of a relationship approach to marketing strategy is analysed in comparison with the nature of a transaction marketing strategy. Relationship marketing and transaction marketing are seen as strategy options at opposite ends of the continuum. Eight marketing and management implications of the two extreme strategies are examined. Report bugs here.

Following Sudharshan (), we define a firm's marketing strategy as the development of and decisions about a firm's relationships with its key stakeholders.

Marketing strategy From the origin of the concept to the development of a conceptual framework

This paper proposes a domain statement for strategic marketing as a field of study and delineates certain issues fundamental to the field. It also proposes a definition for marketing strategy, the focal organizational strategy construct of the field, and enumerates a number of foundational premises of marketing strategy. The domain of strategic marketing is viewed as encompassing the study of organizational, inter-organizational and environmental phenomena concerned with 1 the behavior of organizations in the marketplace in their interactions with consumers, customers, competitors and other external constituencies, in the context of creation, communication and delivery of products that offer value to customers in exchanges with organizations, and 2 the general management responsibilities associated with the boundary spanning role of the marketing function in organizations. Chief among the issues that are fundamental to strategic marketing as a field of study are the questions of how the marketing strategy of a business is influenced by demand side factors and supply side factors.

Marketing strategy

Business executives draw a successful marketing strategy from market research. They also focus on the right product mix so that they can get the most profit. Put simply; a marketing strategy is a strategy designed to promote a good or service and make a profit.

Marketing strategy From the origin of the concept to the development of a conceptual framework

Marketing strategy is a long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of customers. Scholars like Philip Kotler continue to debate the precise meaning of marketing strategy. Consequently, the literature offers many different definitions. On close examination, however, these definitions appear to centre around the notion that strategy refers to a broad statement of what is to be achieved. Strategic planning involves an analysis of the company's strategic initial situation prior to the formulation, evaluation and selection of market-oriented competitive position that contributes to the company's goals and marketing objectives. Strategic marketing, as a distinct field of study emerged in the s and 80s, and built on strategic management that preceded it.

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Фонтейн пришел к выводу, что Стратмор в полном порядке, что он трудится на сто десять процентов, все так же хитер, умен и в высшей степени лоялен, впрочем - как. Лучшее, что мог сделать директор, - не мешать ему работать и наблюдать за тем, как коммандер творит свое чудо. Стратмор разработал план… и план этот Фонтейн не имел ни малейшего намерения срывать. ГЛАВА 75 Пальцы Стратмора время от времени касались беретты, лежавшей у него на коленях. При мысли о том, что Хейл позволил себе прикоснуться к Сьюзан, кровь закипела в его жилах, но он помнил, что должен сохранять ясную голову, Стратмор с горечью признал, что сам отчасти виноват в случившемся: ведь именно он направил Сьюзан в Третий узел. Однако он умел анализировать свои эмоции и не собирался позволить им отразиться на решении проблемы Цифровой крепости.

 - Но пока этого не произошло, мы в цейтноте. Сьюзан открыла рот, желая сказать, что она все понимает, но ее слова были заглушены внезапным пронзительным звуком. Тишина шифровалки взорвалась сигналом тревоги, доносившимся из служебного помещения ТРАНСТЕКСТА. Сьюзан и Стратмор в недоумении посмотрели друг на друга. - Что это? - вскрикнула Сьюзан между сигналами.

Solo el escroto. Он с трудом сдержал улыбку. - Только лишь мошонка. Офицер гордо кивнул: - Да.

Беккер склонился над. - Вам плохо. Клушар едва заметно кивнул: - Просто… я переволновался, наверное.  - И замолчал.

Marketing Strategies


  1. Demond S. 30.05.2021 at 22:46

    At the broadest level.

  2. Pottituter1974 02.06.2021 at 14:35 › publication › _Strategic_Marketing_an.

  3. Solaine P. 04.06.2021 at 10:15

    Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization.