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Marketing strategy is the key to giving your business or organization
a competitive advantage. And the best advantage of all is to
select a niche you can dominate - you can be No. 1.
Marketing strategy works best when it is based on sound market
research, organization analysis, and group decision making
by the management team. Marketing strategy is not a function
of the marketing department! It is a vital function of the
business as a whole.
"Strategy" comes from the Greek word for "general." Generals
plan and control military campaigns to win battles and wars.
Over time military strategy evolved into business strategy,
then marketing strategy. But some of the principles are the
same.
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Effective strategy involves concentrating your resources on
your greatest opportunities, taking advantage of competitors'
weaknesses. In combat, smart general concentrate their forces
where the enemy is weakest, often using the element of surprise
to gain the upper hand. In marketing, smart managers concentrate
their marketing dollars, programs, media and messages in areas
where they can gain the upper hand, and where competitors are
weak.
For example, let's say you are marketing manager for a small
company that makes gutter covers, also called gutter guards.
There are dozens of companies spending millions of dollars
to advertise their products and claim superiority. How can
your small company compete? It must identify a niche where
it can be dominant. Maybe you can offer the lowest price. Or
maybe you acknowledge that sooner or later
all gutters get organic debris in them, so you have an annual
gutter cleaning service which you provide very inexpensively
- and the first year it's free.
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Usually some dimension of superior quality, lower price, or
better/faster service is necessary to distinguish your business
from the competition. Your greatest opportunities will always
involve building on your strengths, on ways you are better
than competitors.
Then you concentrate your resources on those
strengths so your brand becomes known for that advantage and
customers who want it seek you out. Learn about our ebook on
marketing strategy for more valuable information.
To discuss how Lawrimore can help your business or organization
develop a highly effective marketing strategy, please contact
us via our online contact form or call 704-332-4344. Return
to our home page here. |
