03 - Marketing Strategy

There are 4 steps to prepare a Marketing Strategy:

1. Identifies the market needs (market study)

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Asks customers, prospects, sellers, market study units
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A good strategy takes into account the knowledge that everyone in the firm can bring
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Continuous relation with customers (interviews, blog...)
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Prospective analysis (see analysis tables in ch. 12)
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Careful: a cold blood analysis is not enough, be also a bit in love with your customers!

2. Choose market targets

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Products + customer segments pairs. Ex: corporate credit card
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Some of them exclusive niches (when possible)
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Some of them priorities on which to focus efforts
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With adequate positioning (low cost or upscale)

3. Define market shares goals
(or other market performance benchmarks, overall or for some products)

=> From them calculate Multi-annual sales growth objectives

4. Prepare adequate selling / distribution channels