Gopro Camera Tips – How to Effectively Utilize Social Media to Your Advantage
Marketing strategy is a planning process that will enable an organization to focus its limited resources in the most effective ways to maximize sales and reach a sustainable competitive advantage over time. However, the devil is in the details and many businesses find themselves with a ‘fragmented’ marketing strategy, whereby different departments are spending resources in areas that are not directly related to their business objectives. This fragmentation of effort makes it difficult for organizations to align their marketing activities with their core business strategies. It also makes it more difficult to measure the success of marketing efforts across all parts of the organization. This article will discuss the various types of marketing strategies and what types of analysis need to be done to understand the effect of marketing activities on organizational performance.
Many companies believe that market share results from hard marketing and advertising efforts. However, studies have shown that it is not the direct effect of marketing campaigns, but rather that they have a delayed effect. This means that the marketing strategies actually have a delayed impact on firm sales results. Therefore, in order to achieve maximum market share potential, companies need to focus on implementation of multi-faceted marketing strategies at various levels within the organization.
The next type of marketing strategy to consider is the value proposition. This term was the creation of marketing guru Peter Drucker, who coined the term. The value proposition of the marketing strategy pertains to the essence of the products or services offered by an organization. The higher the value proposition, the greater is the chance of the organization capturing a sizeable market share. A well-defined value proposition can provide a clear vision of the product or services that an organization provides, which in turn can help in driving quality and quantity sales.
Next is the integrated marketing plan or integrated marketing strategy. This type of marketing strategy includes elements such as pricing, promotion, public relations, and personal selling among others. In simple terms, this type of marketing strategy pertains to the use of one set of marketing strategies to drive a larger number of customers to a single point or location. For example, retail stores use price analysis to determine the most effective location to place their displays, while movie theatres use publicity campaigns to reach out to the general public.
The third type of marketing strategy, we will discuss is the social media marketing strategy. As the name suggests, the social media in this case refers to the various social network sites such as Facebook, Twitter, and YouTube among others. Social media marketing has been used effectively by some of the biggest companies in the world such as Starbucks, Nike, and Taco Bell to spread their message. The primary reason for this success is that by using social media outlets, such as Facebook, Twitter, and YouTube, these brands were able to reach out to a much broader customer base and engage potential clients and customers.
One important thing to keep in mind when planning any marketing strategy is that the goals should align with the overall game plan. To help you with aligning your marketing strategies with your overall game plan, identify what the purpose of your business is. Does your business offer a particular service or product that people are looking for? Or is your company offering a unique opportunity? If so, then you have already made a start in aligning your marketing strategies with your overall game plan. If not, then it is important to define these necessities before you can move on to more complex forms of marketing strategies.
In order to achieve an effective marketing management system, you should consider your current resources and the available tools in the market. For example, are you only in the early stages of development with your online marketing efforts? Or are you fully optimized with your vertical integration and horizontal integration strategies? In both cases, your strategy should be flexible enough to respond to changes in the market but also structured to make the necessary adjustments as needed.
One example of a popular social media platform is Facebook. With almost 500 million users worldwide, you can easily create a presence for your company through Facebook, using both Facebook’s fan page and mobile apps. By properly using Facebook’s tools, such as its easy-to-use timeline feature, allowing for easy updates of your company’s promotional efforts and beauty tips, and engaging with your audience, you can make a lasting impression on Facebook users and gain valuable connections that you can use in the future for your goo photography business.
Deepak Wadhwani has over 20 years experience in software/wireless technologies. He has worked with Fortune 500 companies including Intuit, ESRI, Qualcomm, Sprint, Verizon, Vodafone, Nortel, Microsoft and Oracle in over 60 countries. Deepak has worked on Internet marketing projects in San Diego, Los Angeles, Orange Country, Denver, Nashville, Kansas City, New York, San Francisco and Huntsville. Deepak has been a founder of technology Startups for one of the first Cityguides, yellow pages online and web based enterprise solutions. He is an internet marketing and technology expert & co-founder for a San Diego Internet marketing company.
