Table of contents
1. Introduction to marketing strategies
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- Definition of marketing
- What marketing isn’t?
- What exactly is marketing strategy?
- Importance of marketing strategy
- Why do you need a marketing strategy?
- Impact on organizations and communication
- Understanding marketing basics
- Supply and demand
- Explaining demand
- Explaining supply
- Finding an equilibrium
- Theory or law?
- Market research
- Understanding market research
- Primary market research
- Secondary market research
- Types of market research
- Face-to-face interviews
- Focus groups
- Phone research
- Survey research
- Online market research
- How to do market research
- Benefits of market research
- Basics for the segmentation of industrial market
- Definition and foundations of industrial market segmentation
- Influence of industrial market segmentation on industrial marketing strategies
- Basics of product positioning
- Meaning of “product positioning”
- Positioning types
- Price
- Quality
- Differentiation
- Convenience
- Customer service
- Advantages of product positioning
- Relationship between the company and the market
- Finding your ideal customers
- Customer persona construction
- Making a selling point
- Formulating ad campaigns
- Promoting recognition and acceptance of your brand
- Evaluating and adapting
- Marketing mix and the 7p’s of marketing
- 7ps of marketing – understanding the concept
- 1st of 7p’s of marketing – product
- 2nd of 7p’s of marketing – price
- 3rd of 7p’s of marketing – place
- 4th of 7p’s of marketing – promotion
- 5th of 7p’s of marketing – people
- 6th of 7p’s of marketing – process
- 7th of 7p’s of marketing – physical evidence
- Marketing mix process
- Marketing mix physical evidence
- SWOT Analysis
- Understanding SWOT analysis
- SWOT analysis’s key elements
- Strengths
- Weaknesses
- Opportunities
- Threats
- SWOT table
- How to do a SWOT analysis?
- STP Marketing Model
- What is STP marketing model?
- How does STP model work?
- STP marketing process
- Importance of the STP marketing model
- Examples of STP marketing models
- Nike
- Mcdonald’s
- Iphone
- Porter’s 5 Forces
- Understanding the Five Forces of Porter
- Industry competitiveness
- Potential for new competitors in an industry
- Supplier influence
- Customer power
- Threat of substitution
- What Function Do Porter’s Five Forces Serve?
- Understanding the Five Forces of Porter
- ANSOFF MATRIX
- Understanding the Ansoff Matrix
- Market penetration
- Market development
- Product development
- Diversification
- Understanding the Ansoff Matrix
- BCG Growth-Share Matrix
- BCG Growth-Share Matrix: An Overview
- Pets or dogs
- Cash cows
- Stars
- Question marks
- Limitations of the matrix
- A BCG Growth Matrix example
- BCG Growth-Share Matrix: An Overview
- AIDA MODEL
- AIDA Model Hierarchy
- First step: attention
- Second step: interest
- Third step: desire
- Fourth step: action
- New Developments in the AIDA Model
- AIDCAS model
- REAN model
- NAITDASE model
- AIDA Model Hierarchy
- Marketing Funnel
- Advantages of Marketing Funnels
- Kotler’s 5 A’s of Sales Marketing
- What are Kotler’s 5 A’s?
- Kotler’s 5 A’s of the customer path stages
- Aware
- Appeal
- Ask
- Act
- Advocate
- Blue Ocean Strategy
- PESTLE Analysis
- PESTLE Elements
- Pirate Metrics, AAARRR Framework
- Awareness
- Acquisition
- Activation
- Revenue
- Retention
- Referral
- Hook Model
- Hook Model: How Does It Operate?
- Trigger
- Action
- Variable rewards
- Investment
- Hook Model: How Does It Operate?
- STEPPS Framework
- Social Currency
- Triggers and Emotions
- Public and Practical Value
- Stories
- Honeycomb Model
- Seven Social Media Honeycomb Components
- Implementing the Honeycomb Method in SMM
- Bullseye Marketing Framework
- Step 1: Consider Your Target Audience
- Step 2: Review the traction channels in the Bullseye Framework
- Step 3: Monitor Your Customer Acquisition Cost
- When should you use the Bullseye Framework?
- RACE Model
- What does RACE stand for?
- Reach
- Act
- Convert
- Engage
- Should you choose the RACE model?
- What does RACE stand for?
- Lean Canvas Model
- Exploring the 9 Key Components of the Lean Canvas
- Problem
- Customer segments
- Unique value proposition
- Solution
- Channels
- Revenue streams
- Cost structure
- Key metrics
- Unfair advantage
- How to fill Lean Canvas?
- Exploring the 9 Key Components of the Lean Canvas
- Pragmatic Marketing Framework
- Jobs-to-be-Done: A Framework for Customer Needs
- Who are your customers?
- What types of jobs are they getting done?
- Customer’s desired outcomes
- What are the implications?
- Flywheel Model
- Flywheel Marketing Model’s Benefits
- Various components and advantages of the flywheel model
- 5 Ways to Use Flywheel Marketing Model to Deliver Better Customer Experiences
- SERVQUAL Model of Service Quality
- History of the SERVQUAL Model
- SERVQUAL Model of Service Quality and it’s shortcomings
- Expectancy pattern
- SERVQUAL Model of Service Quality Dimensions
- Five gaps of the SERVQUAL Model of Service Quality
- Knowledge gap
- Standards gap
- Delivery gap
- Communications gap
- Satisfaction gap
- ZMOST framework
- Methodologies
- Benefits
- 5C Analysis
- Company
- Collaborators
- Customers
- Competitors
- Context
- Net Promoter Score
- Utilizing the Net Promoter Score
- Breakdowns of scores
- How to determine your Net Promoter Score (Example)
- Content Marketing Matrix
- What is a Content Marketing Matrix?
- How does the content matrix actually operate?
- Content Marketing Matrix Axes
- What advantages does the content marketing matrix offer?
- Service-dominant logic
- What is service-dominant logic?
- Ten underlying assumptions of S-D Logic
- Product Strategy and Management
- Product Life Cycle
- How the Product Life Cycle Works
- Introduction stage
- Growth stage
- Maturity stage
- Decline stage
- Advantages of Using the Product Life Cycle
- Target Market
- How Do You Define Your Product’s Target Market?
- What Are the 4 Target Segmentation?
- Geographic Segmentation
- Demographic segmentation
- Psychographic Segmentation
- Behavioral segmentation
- Example of a Target Market
- Target Markets: Why Are They Important?
- Product-Market Fit
- Why is it Important?
- Who is in charge of ensuring product-market fit?
- How is the Product-Market Fit Index Calculated?
- How Can Your Product Achieve It?
- Competitor analysis
- Identify Your Competitors
- Collect data
- Analyse Data
- Use the Insights
- Monitor and Update
- Product Positioning Statement
- Four Parts of a Product Positioning Statement
- Target audience
- Pain points
- Alternatives and competitors
- Product differentiators
- Four Parts of a Product Positioning Statement
- BCG Matrix
- What is a BCG matrix?
- What advantages does a BCG matrix offer?
- What are the limitations of a BCG matrix?
- How do you create a BCG matrix?
- BCG quadrant
- The star
- Cash cows
- Dogs
- Question marks
- How do you use the BCG matrix to strategize?
- Four ways to strategize for your company using the BCG matrix
- What is the role of cash flow in the BCG matrix?
- What is a real example of the BCG matrix?
- GE-McKinsey Matrix
- Origins
- Strategic implications
- Selectivity/Earnings Strategy
- Product positioning
- How do you define a unique selling position?
- How to identify your unique selling position?
- What is product positioning?
- Why is the positioning of a product important?
- What are the types of product positioning?
- Price-based positioning
- Lifestyle-based positioning
- Characteristics based positioning
- Quality or prestige-based positioning
- Positioning mapping
- Creating a positioning map
- Choice of marketing channels
- Factors influencing choice of a marketing channel
- Target Market Coverage
- Product-Related Factors
- Unit value
- Perishability
- Dimension and weight
- Standardization
- Product’s technical nature
- Product life-cycle stage
- Competitive environment
- Company resources and capabilities
- Offline Marketing Channels
- Retail Outlets
- Direct Mail
- Telemarketing
- Trade Shows
- Events
- Online Marketing Channels
- Email Marketing
- Social Media Marketing
- Content Marketing
- Search Engine Optimization (SEO)
- Pay-Per-Click (PPC) Advertising
- Affiliate Marketing
- Influencer Marketing
- Emerging Marketing Channels
- Mobile Marketing
- Virtual Reality/Augmented Reality Marketing
- Voice Search Optimization
- Key Performance Indicators (KPIs) for Channel Performance
- Sales Revenue
- Customer Acquisition Cost (CAC)
- Customer Lifetime Value (CLV)
- Conversion Rate
- Customer Retention Rate
- NPS (Net Promoter Score)
- Social Media Engagement
- Web Traffic Sources
- Email Click-Through and Open Rates
- Return on Investment (ROI)
- Marketing Budgeting
- Factors influencing marketing budget
- Business Size and Stage
- Industry Norms
- Business objectives and goals
- Market Opportunities and Challenges
- Factors influencing marketing budget
- Setting a Marketing Budget
- Percentage of Sales Method
- Competitive Parity Method
- Objective and Task Method
- Zero-Based Budgeting Method
- Allocating the Marketing Budget
- Through marketing channels
- Through Marketing Activity
- By Product or Service Line
- By Geographic Market
- By Customer Segment
- International Market
- Cultural Factors
- Economic Factors
- Legal and Political Factors
- Localization Versus Standardisation
- Market Entry Strategies
- Direct Exporting
- Indirect Exporting
- Licensing
- Franchising
- Joint Ventures
- Strategic Partnerships
- Foreign Direct Investment (FDI)
- Understanding Consumer Behavior
- Why is Consumer Behavior Important?
- Different types of consumer behavior
- Impulsive Buying Behavior
- Habitual Buying Behavior
- Variety-Seeking Buying Behavior
- Social Buying Behavior
- Ethical Buying Behavior
- Process of Consumer Decision-Making
- Problem Recognition
- Evaluation of Alternatives
- Purchase Decision
- Post-Purchase Behavior
- Conclusion