Definition : Marketing Strategy

Customer Engagingment

Definition : Marketing Strategy

Has it occurred to you that your competitors determine your prices, your market share, how fast your business grows and how much money you make?

As no marketing strategy can be made without thinking of your competition, and how they are going to behave, you have to anticipate reaction of competition when formulating your marketing strategy.

What are you going to do that is different from what your competitors are doing, in terms of products and services offered.   How are you going to differentiate yourself from the competition?   Is there something that you do better than the others that would give you competitive advantage? 

Customers want the highest quality at the lowest price, so what is your unique selling proposition that would satisfy these customers wants?  Is your service fast?  Do you offer convenience?  Do you build high quality customer relationships?  Are you offering your customers the best products and service they will never forget, and would rather not buy from anyone else but you?

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Have you identified the specific customers in your market who value your area of differentiation, and will be prepared to pay more than anybody else for your products and services?   What are your demographics? Who are those who value your superiority?  What motivates them?  How would you describe your perfect customer in terms of their needs, wants, age, income and position without mentioning your product or services to them at all?  

What are their goals, ambitions, wants, needs, motivation, hopes, dreams, fears, doubts and worries?  People buy your products and services because they have problems to be solved and  dreams to be fulfilled, so you must know these problems and dreams with crystal clear clarity, and what you are going to do to satisfy these, and must be conveyed to your audience with crystal clear clarity.

To do this you must focus your time, money and resources in the right places, so where are you focussing them?   What are the best possible ways to contact your ideal customers?  What are the best possible media to contact them through?  And finally, what are the most powerful appeals you have to offer?