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Current Strategy of Marketing, Marketing Assignment Help
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Marketing strategy gives the full knowledge of the market because if you are planning to launch one product or planning to organize one event as well if you are planning to make some business plan, you need to do a market strategy because it will give you an idea and an overview of the certain product. It will help the marketer in providing the better product as per the needs and requirements of the consumer or the target people. It helps the people in taking a correct decision while implementing a business and the success of the company also is depend on the tools of marketing. They are able to understand and create a need as well as demand because it has been believed that marketer don’t sell they create the needs of the customer and satisfy those needs by providing a better service and a better product.
Marketing strategy conduct to collect the information for a specific objective which we want to introduce in future on the basis of current and past data strategy.
Above Definition present the importance of the Information in Market strategy. A reliable and real data provide real picture about the objective of the Strategy. Marketing strategy provides all the valuable information data which create path, blueprint or future framework strategy, tactics, area which needs improvement and core strength of the business. So we can say that marketing strategy is one kind of tracking systematic process which gives all the information to me by which I can develop my business plan.
Marketing strategy helps the strategy in understanding the minds of the consumer and it also helps a marketer to understand the satisfaction criteria of the customer as well the level of happiness which they will get from the company and from the goods or products. Customer satisfaction is the state of mind that customers have about a company when their expectations have been met or exceeded over the lifetime of the product or service. The achievement of customer satisfaction leads to company loyalty and product repurchase. There are some important implications of this definition:
Because customer satisfaction is a subjective, non quantitative state, measurement won’t be exact and will sampling and statistical strategy.
A market strategy complements the industry strategy, emphasizing the demand side of the equation. In a market strategy an advertiser examines the factors that drive and determine the market for the firm’s product or service. First the advertiser needs to decide just exactly what the market is for the product. Most often the market for a given good or service is simply defined as current users. The idea here is that consumers figure out for themselves whether they want the product or not and thus define the market for themselves and for the advertiser.
Marketing strategy should have specific result and objective and the data and information should be design accordingly. In the marketing plan, there will be some facts and figures, statistical data, number; sources should be on basis of projected or defined objectives etc. The data are related to facts about the industry means total size of the market, current demand in target market, trends in the target market, competitors, barriers in the business, products, total cost location information of the existing layers etc. When a marketer introduces new business require a unique strategy and market survey in an effective manner. To conduct the survey and strategy should have specific objective. Market opportunity provide the Information and futuristic path of the introduce business. Data and information give the facts and figures about the potential of the business. Opportunities can be define in initial stage monetary and non monetary depends on the situation. Opportunities are the key factor for success of the business. All valuable information comes by the data collect from the existing customers and local people. Their feedback and knowledge provides n number of the information about the competitors.
To introduce new business require a unique strategy and market survey in an effective manner. To conduct the survey and strategy should have specific objective. Market opportunity provide the Information and futuristic path of the introduce business. Data and information give the facts and figures about the potential of the business. Opportunities can be define in initial stage monetary and non monetary depends on the situation. Opportunities are the key factor for success of the business. Every business has competitors in the market to take steps or define the strategy for the business requires the true information and data about the existing competitors. What will be the design of the business strategy? How can the company capture the market? Who are the potential competitors in the market? All valuable information comes by the data collect from the existing customers and local people. Their feedback and knowledge provides n number of the information about the competitors.
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