A Marketing Strategy in essence is a way by which companies determine a plan of action, this action usually contains what they need to do, how they need to do it and who is the target of what they going to do, this marketing strategy is the foundation for the marketing plan. Marketing Tactics are methods that are used to promote goods and services in the aim of growing sales. Both are in my opinion integral parts needed to make any organisation succeed, the Marketing Strategy provides clear objectives and in following through with the objectives businesses are able to understand their customers and by knowing their customers are able to make an effective plan of Marketing Tactics that will be effective in gaining customer trust and exceeding consumer expectation. I think that a companies success can be seen by looking at the how seriously they adhere to the plan that comes about as a result of the Marketing Strategy and how well they use that plan to develop a comprehensive series of marketing tactics that will maximise the promotion of products and/or services.
Both the marketing strategy and marketing tactics are integral components in any successful business, in my opinion they should go hand in hand. The Marketing strategy should aim to identify how the needs of the customers / target market are going to be met,as Peter F. Drucker (2011) point out, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself,” the marketing tactics that are to be used should come out of this tactical strategy. According to the Business Victoria website the seven P's that should be used in developing a mix of tactics that will be used in the marketing plan are the product or service. The first of which is the product or service that is to be offered and insuring that it is beneficial and different from the competitors, the pricing of the product of service this important to ensure that the company is able to make a profit while still being able to ensure that the product is's priced too high resulting in the target not being able to afford the product or service. The third P which is the position in the market refers to the place of distribution chosen by the company so that they will be easily accessible by the ideal target market. The fourth step which I believe is most important is the production of the product or service, all business regardless of success has to promote their business in order to attract the target market. The people in the business are the people who are an extension of the company and in extension they represent the companies image, which is why many companies are beginning to see the importance of good customer services and have began putting their employees through extensive training. Number six P is the process essentially is the buying experience of the customers,the customers want to believe that they are not spending more that they have to and that they are not just viewed as bags of money to provider, they want to feel like they are the number one priority, lastly the physical environment that the goods and services are being sold, this ties back to the last point which means that if the customers are comfortable they will keep buying.
It is very easy to confuse the difference between Marketing Strategy and Marketing Tactics and in order to truly understand I broke it down and formed an example in there which were three steps The Goal, The Strategy and The Tactic. For my example, I used a teenager. The goal of this teenager was to get her parents to buy her a new laptop and her strategy was to wait a while before she asked in order to show her parents that she deserved it. The tactics she would employ are to to do her homework early, do all her chores on time, assist around the house and to get good grades. After all these tasks were done she would then ask her parents to buy her the laptop when they thought she deserved it. In this scenario the parents agree and she is successful in obtaining her goals. I do agree with the statement and i think that it can be employed in many different areas in life, once there is a clear goal, a strategy of obtaining that goal can be set and a tactic can be used in order to follow through in obtaining the goal.
The theory of marketing strategy and tactics being essential in the success of a business can be seen in the multibillion dollar coffee company, Starbucks. Currently the goal of Starbucks is to inspire and nurture the human spirit - one person, one cup and one neighbour at a time. The strategy that came out of this goal was to develop a culture that embraces acceptance through growth. They used many tactics which includes a loyalty rewards program, breaking stereotypes and seasonal products. The loyalty program ensures that customers comes back and they want to return to earn stars that will them rewards, breaking stereotypes plays well into their goal of developing a culture that embraces change and different trends and they do this by offering different types of drinks during the day and also different types of products and their seasonal products are able to target many different types of people and to encourage people to try different things and flavours. Another company that can be looked at is Walmart. Walmart places number twenty two on Forbes list of World's Most Valuable Brands, this is because they are very successful and have utilised marketing strategies and tactics to aid in their success. The Business Goal of Walmart was The strategy they employed was to provide a wide variety of products with good or better quality than their competitor with cheaper prices. According to the Business Insider an example of a tactic employed by Walmart was in efforts to compete with dollar stores in the United States they began selling smaller or individual serving of items so that people would continue to shop there at all times of the month and in order to be able to target lower income homes.
An in-depth look into Samsung's strategy and tactics can show that they key to a successful business lays within the businesses marketing.
Though these points are all valid in proving that the marketing strategy and tactics are important to business success, the point can be made that if a product is not wanted by the target market it will not sell even if the company has a amazing strategy and tactics the chances are still low for success. It can be argued that some products can stand on their own and without amazing marketing, some products are just in high demand and will continue to sell even if the company decides to pull some of its marketing tactics. In my opinion, if Apple were to stop all of its advertising and marketing and just focus on putting products out on the market the company would still be successful because of brand loyalty that has already been established. While I do agree that an great product can stand on its own there is still the need for a marketing strategy and marketing tactics in the initial stage to make the product even more successful, because in the off chance that a product is able to bring in the target market and sell people on its importance, it would help if some strategies and tactics were applied and that could be the difference between just a successful company and a multi-billion dollar company.
This theory can be applied to a human based brand such as Beyonce. Beyonce's marketing strategy and tactics are excellent in my opinion, She is a brand that has the ability to stand on its own but still relies on marketing tactics to aid in her success in the industry. Beyonce has employed many different marketing strategies such as surprise marketing, timing and planning, buzz and anticipation and exclusivity. She used tactics which help boost the success of these strategies for instance when she surprised the world with her new album in 2013 she simply used word of mouth to spread the news of the album. Also in 2013 the night before her performance in Super Bowl she released a new song and then performed it the following day and during the performance announced that she would be going on tour, this tactic was extremely successful because she “crashed the internet.” Beyonce is known for creating buzz and using this buzz to fuel her fame and she did so when she teased her HBO special on Instagram and her fans did not know what to expect which created a lot of buzz for the star.
In conclusion, using marketing strategies and marketing tactics can be seen as not imperative in the success of a business, but the positive after effects of employing such tactics are so great that they should be a must for all companies, some of these tactics will not cost the companies much once the right strategies are found and employed, and even if the cost is large the company can take the risk and employ tactics and strategies providing that effective market research was done in order for the company to appropriately select a plan of action that would be right for them. This type of planning can not only be used for companies but can be applied to any situation where there is goal, and the effects are too great to pass up.
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