Marketing strategies and tactics

Download Marketing strategies and tactics

Post on 25-Jan-2015

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Innovative and creative marketing strategies can help the business to generate a lot of revenue and sales. Read on to know some of the most effective of marketing strategies and tactics, implemented by businesses these days.

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<ul><li> 1. Marketing Strategiesand TacticsInnovative and creative marketing strategies can help the business to generate a lot of revenueand sales. Read on to know some of the most effective of marketing strategies and tactics,implemented by businesses these days.</li></ul> <p> 2. If you want to know what are marketing strategies and tactics, and why do organizations spend so much oftheir time, effort and money on coming up with them, the answer is quite simple. The aim of any business isto generate profits, and marketing strategies do exactly that, i.e. they help in generating more business andrevenue for the business. Marketing strategies are devised not only with regards to selling and promoting aproduct, but also about the kind of customer service that the organizations will provide. Below is a list ofsome of the most successful marketing strategies and tactics, which businesses have been implementing intoday's modern, competitive business scenario, to earn revenues and to keep the competition at bay.Effective Marketing Strategies and TacticsBuild RelationshipsPeople are very important in business, whether they are customers, suppliers or employees of theorganization. It is not only necessary to form relationships with one's customers so that they come again tomake repeat purchases, but also with the employees and all other people that the organization comes incontact with during its working, so that the organization has a positive word of mouth in the market.Differentiate from CompetitionOne of the most successful of marketing strategies and techniques is to create your own identity, which istotally different from the rest of the competitors. A good way to do that is to stay ahead of thecompetition by offering innovative, technologically advanced products. For this, a business' marketresearch should be very strong, so that change is anticipated in advance and action taken accordingly.Creative Advertising CampaignThe advertising campaign should be such that it highlights all the advantages and strengths that acompany's product and services have over the one's offered by competition. The unique selling point, alsoknown as USP of the business can be something like an excellent after sales service or a guarantee periodwhich is much longer than what is offered by competition. This should be creatively stressed upon in themarketing and advertising campaigns. 3. Offer New Products and SchemesA very commonly used, at the sametime most effective of marketing tactic,used by many businesses today is tooffer new products as well as newschemes to customers from time totime. When a business introduces newproducts in the market, its customerbase increases when new customerspurchase this product. At the sametime, when old customers see somenew innovative features in the latestproduct, they make repeat purchasestoo. This increases the sales volume aswell as revenue for the business.Another way to increase sales, is tooffer some new schemes at festivaltimes or during the holiday season,such as one product at fifty percentdiscount on another one, especially ifthe business has some unsold stock ofgoods lying beforehand. 4. Marketing Strategies and ImplementationFor successful marketing strategies and solutions, the strategy should be set in such a way that it is veryrealistic and measurable. The strategy should also be such that it can be applicable for a very long time.For proper marketing strategy implementation, measurable goals should be set. Goals can be defined inmonetary terms, such as doubling the sales revenue in six months. Once the goals are set, a strategy thatsets the business apart from competition should be devised and implemented at the right time in themarket.Proper formulation as well as appropriate implementation of strategies is equally important for them to betruly successful. This however does not end here. Post their implementation, measuring how successfulthey have been in generating revenue and sales, helps in the formulation of marketing strategies for thenext year.Source:http://www.buzzle.com/articles/marketing-strategies-and-tactics.htmlImages:http://www.retailoasis.com/ </p>