A market strategy in an organization is a process that aims to maximize the organization’s resources to increase sales and its competitive advantage. Such a strategy will usually involve delivering services to clients at a lower cost, delivering greater services at the same price to its competitors and developing what is called a market niche as opposed to having a wide competitive advantage. The primary goals of marketing strategies in relation to competitive advantage are reputation, innovation and relationships. A key market of many marketing strategies today has also come to include customer satisfaction. This is because while many organizations seek to target new customers, they also want to retain existing ones. In strategic management, managerial activity is aimed at setting long term goals that are reevaluated on an ongoing basis to determine their implementation or whether replacement is needed due to changing circumstances, new competitors, new technology, new economic environment, political climate or a new social and financial position.
While not all inclusive the marketing strategies we will review are evolving and can help a business establish a marketing framework to remain competitive. One of these is gaining customer confidence. Some of the top sales killers in the business world are customer indifference, indecisiveness, skepticism and confusion. In order to win your prospective customers it is therefore important to project an image of dependability, quality, experience and value added as well as having excellent customer service. You need to communicate all of these advantages to your potentials and why they need to do business with you; otherwise they will be hesitant and will not hesitate to go to your competitors.
Integrated marketing strategies that involve a well-planned website help you to be better known by the public which will eventually result in brand recognition, credibility and of course greater market share. Exposing your name and selling points to your target audience as often as possible, as cost-effectively as possible and in as many ways as possible will give you this competitive advantage. Embracing web marketing is one of the marketing strategies that are highly effective since the web is here to stay and is effective in a number of ways. A website allows you to make marketing a daily routine. In a challenging economy, it is highly important to be known as an organization that offers value, great service and is dependable. By continually reevaluating and develop9ing clear marketing strategies that capitalize on your strengths and that balance your weaknesses, you can have a sustainable competitive advantage that will keep you ahead of your competitors.
Marketing Consultant in Kansas City