Factors affecting overall marketing strategies, Marketing Management

Factors affecting overall marketing strategies:

1.       Competitors counter moves: this differ with the various marketing inputs. Most competitors can easily and quickly match or other wise adjust to orice changers. However they often find it diffculgt to follow or to reliate against product innovations. The explains why many marketer seek to gain differential advantage over their competitiors by varying product characterististics as alterning promotion than prices.

2.       Synergistic potential: marketing inputs are capable of being mutually reinforcing or having synergistic potential and marketer should consider this working towards and optimum overall marketing strategy. Displays and advertisements can be made mutually reinforcing since the displays repeats the advertising efforts message at a time when the consumer is in an outlet where the product is one sale. Product inputs and marketing channel inputs can be mutually reinforcing depending upon the effectiveness with which they are integrated.

3.       Substitutability: the selection of marketing inputs is also affected by their degree of substitutability. It is important to know the extent to which one type of input can be substituted for another type in as much as the nature of marketing objectives such as that of returning a certain level of profit presents a decision maker from making unlimited use of all inputs. A marketing strategist must ask himself. Consideration of such substitutability helps in determining which inputs to include and which to emphasize in the over all marketing strategy.

4.       Diversity in productivity levels of various marketing inputs: the marketers should recognize that not all inputs have equal productivity some inputs need a minimum level of use before they begin to have measurable effects. An advertising message must often be repeated several times before consumer become aware of it. the lower cost per consumer contact of ratio maganizes and bill boards often make it possible with a limited budget to present a much stronger impact on consumrs.

5.        Elasticity of marketing inputs: different marketing inputs are elastic and they influence the demand o the product. The marketing manager must recognize that effect on the product. For example a manufacture determines different prices for different customers or for different areas only on the basis of varying elasiticity of demand. More often the prices for wholesaler's retailers and consumers are different in almost all the markets. The marketing manager must consider all the above factors in mind while formulating the overall marketing strategy. The strategy must also be elastic so as to incorporate all the strategic factors of the competitors as and when required.

Posted Date: 9/19/2012 7:42:30 AM | Location : United States







Related Discussions:- Factors affecting overall marketing strategies, Assignment Help, Ask Question on Factors affecting overall marketing strategies, Get Answer, Expert's Help, Factors affecting overall marketing strategies Discussions

Write discussion on Factors affecting overall marketing strategies
Your posts are moderated
Related Questions
impact of having inadequate system design in the lead time and engineering cost

Question 1: (a) Discuss the influences that led to the development of relationship marketing. (b) Using appropriate theories, discuss why the marketing mix paradigm and the

New product development: once a company has carefully segmented the market, chosen its target customers, identified their needs, and determined its market positioning, it is bette

The challange of E - Marketing 1.       Limited consumer exposure and buying 2.       Skewed user 3.       Choose and clutter 4.       Security 5.       Ethical con

A firm is intending to operate across a number of markets in the world.you have been hired to help them in finding consistent methods to analyse their cross culture markets.Using r

What is Concentration Approach for selecting target markets? Concentration Approach: As an organization directs its marketing efforts in the direction of a single market

State about the Demand - pricing decisions Demand also affects the price in a big way.  When there is limited supply of a product and demand is high, people buy even if hig


Q. What do you mean by Promotion Mix? Promotion mix is a particular mixture of promotion tools used by a company to communicate with the audiences. There are 5 main tools sales

Question: (a) What is market segmentation? (b) "It is often said that each consumer is unique, with unique needs." How useful is then, market segmentation as a marketing t