Marketing Strategy of the Firm

The marketing strategy is a particular element of the company's overall strategy, which describes how it should use the opportunities and resources at its disposal to achieve the greatest result and increase profitability in the long term.

Marketing strategy, in fact, is a general plan of marketing activities, through which the company expects to achieve its marketing goals. It implies the setting of specific goals for each individual product, the type of market for a certain period of time. A strategy is being formed within the framework of the overall production and commercial activity according to the individual capabilities of the particular enterprise and the peculiarities of the situation on the market.

After the development of the general strategic plan, the firm can proceed to work on more private tactical plans (marketing plans).

The main sections of the marketing plan include: analysis of the current marketing situation, SWOT analysis, a list of tasks and existing problems, a list of obvious dangers and potential opportunities, an outline of marketing strategies, a program of actions, budgets and a certain control order.

Marketing strategy of the company begins its existence with the development of a specific program, setting goals and formulating tasks for all future marketing activities.

The marketing strategy is chosen individually for a particular company in accordance with the specifics of its current affairs and the tasks of developing future periods. The main marketing strategies are: penetration into a new market, development of the existing market, development of a new product, diversification.

Based on the overall marketing strategy, private marketing programs are being formed. Programs can focus on achieving such effects from carrying out activities as maximum effect regardless of risk, minimum risk without calculating the large effect, different combinations of the two indicated approaches.

The marketing strategy is developed on the basis of market requirements, competitive advantages, shortcomings of the firm, customer requests and some other factors. The formation of a marketing strategy is influenced by trends in the state of the external marketing environment and demand, the system of commodity circulation, consumer demands; Features and conditions of the competitive environment; Individual capabilities of the firm and its management resources; The main concept of the future development of the company, its objectives and objectives.

The key subsystem of the marketing strategy is the product marketing strategy of the commercial organization. It is aimed at analysis, development of the most important strategic solutions for assortment, nomenclature, volume and quality of products, questions of product realization in the market.

Product-marketing strategy is the main strategy of survival, economic growth, quiet existence and commercial success of the firm. Its main component is the optimization of the product program for the current year.

Thus, the marketing strategy is created with respect to a certain target market, chosen as a result of expanded marketing research of the market state. On its basis, strategic planning is built and with its help competitive advantages of the company are provided for the future. It is the result of rational and logical construction of long-term success plans, on the basis of which progress is being made to the progressive development of production and sales.

Based on the developed strategy, a detailed program of specific activities is created for the whole marketing complex, responsible executors are fixed, future expenses are determined and the terms of execution are established.