In this ever-changing world, marketing strategy keeps on changing over time. With the advancement of technology, it improves the marketing strategy. It improved since the birth of radio, then the television and now till the advent of the internet. In this user-centric marketing world, what strategy you can adopt to grow your marketplace?

2. Introduction
Researching and Collecting market
information
Gathering insights
Customer segmentation and targeting
Pricing strategy
Branding and positioning
Bonus Tip
Conclusion

3. Chapter One

4. In this ever-changing world, marketing strategy keeps on changing over
time. With the advancement of technology, it improves the marketing
strategy. It improved since the birth of radio, then the television and
now till the advent of the internet.
In this user-centric marketing world, what strategy you can adopt to
grow your marketplace?
A marketing strategy should ease in connecting with the audience and
express the company’s goals, mission and, how they help customers life
to be better.

5. Chapter Two

6. Before to design any marketing plan, you need to analyse the condition
of the internal – inside the company, external – audience and the
market and the customer preference.
Internal analysis
Gather data for these following questions.
● What are the marketing mission and goals of the company?
● Whether the company mission and goals aligned to the marketing
plans?
● Whether the financial resource allocated for the marketing team?
● How the current marketing strategy performed with respect to
the expected outcome?
● Do you prefer short-term or long-term marketing planning? And
how does it affect any marketing strategy?

7. The external factors mean the competitors, technology advancement,
laws and legal systems, economic growth and political scenario. Things
you need to is:
● Who are our competitors and what is their market size, profit,
growth, targeted audience, marketing strategy?
● What are the competitor’s strength and weakness?
● How the competition will change after improving our marketing
strategy?
● How economic growth is happening in your country? And how
much it affects your industry?
● What are the laws and legal system supporting and opposing your
marketplace?
● What is the political scenario happening in your country and how
it impacts the marketplace?

8. At the end of the day, it is about impressing the customer, things you
need to find out is:
● Geographic and demographics of your customer
● The medium they found out about your brand and service.
● When the customer uses the rental platform
● Why they prefer your service compared to your competitors.
● What made them stick to your service.

9. Caption and Photo Credit: Use this space to provide credit to the
original photo or provide context on its meaning.

10. Chapter Three

11. Deducing insights from the collected data pave the way to improving
your marketing strategy.
A simple but most powerful tool to find clarity in vast data is through
SWOT analysis.
SWOT abbreviated as Strength-Weakness-Opportunities-Threat.

12. The strength mostly points to the internal strength of the company
which is the product, capabilities of the company and the resource
abundance.
The weakness can be anything which causes difficulty or delays the
success to improve your marketing strategy.

13. Opportunities can be:
● Opening up to foreign market
● Economic boom
● New technology
● Changing customer needs
Threat can be:
● Entry of new competitors
● Evolving business models in the industry
● Competitors adopting a new strategy
● Change in laws and regulation
A threat can be considered as an opportunity if the resource or a sound
strategy available to expand your market.

14. Chapter Four

15. After having an awareness of your strength and weakness, the
subsequent thing to consider is how to target your audience.
You need to conquer and divide to engage your audience. Group the
customers into the categories of similar needs.
The category can be of:
● Same demography
● Age group
● Price preference
● Communication medium they use
Even you can further split the group into various small groups to make it
more personalised. This is niche marketing.
For instance, if you need to advertise a new offer of a car rental service,
the targeted audience can be office-goers who have a high rate of
utilising it. So, advertising in the San Francisco area makes the demand
go higher.

16. Chapter Five

17. Setting the price is crucial to improve your marketing strategy. If you set
the price too low, you stumble upon in gaining profit. Setting up too
high will attract few customers to rent their property.
Research the market and see the prices around your neighbourhood.
Airbnb has two different fee structure. One is the shared host and guest
fee where Airbnb charges 3% service fee and charges 13% from the
guest. Two is the Host-only fee where they charge between 14% to
20%.
Homestay offers a 5% service fee, 3% credit card/eCheck processing fee
and 2% international surcharge.
The price speaks the quality of the business. Customers have the
psychology of segregating low prices into less quality and huge price as
great quality. It is more of how valuable they consider your brand. The
value is evaluated by the customer based upon the benefits offered
with respect to price.

18. Chapter Six

19. Branding is an important asset to improve your marketing strategy. The
advantage of branding is:
● Recognition of the rental service
● Convenient for customers to compare and evaluate
● Increased loyal customers
● Allows customer to accept any new service in any rental
marketplace
● Customers would see less risk once get adopted to a rental service
To leverage brand name, strategies such as co-branding or branding
licensing helps it.
Positioning means how people perceive about the advertised product
or company. Positioning decides where a product or a company stand in
the market.
The key to changing the positioning is to constantly be aware of the
customer needs and wants, as it changes over a period of time. By
increasing the quality and expectations of the rental experience, it
engages the customers to stay to your brand.

20. Chapter Seven

21. Here is the list of marketing strategies you can embrace
1. Internet Marketing
2. Word of mouth marketing
3. Cause marketing
4. Paid advertising
5. Co-branding – affinity marketing
6. Behavioural marketing

22. Chapter Eight

23. Hope you got some clear idea on broad outline of developing a
marketing strategy. Any strategy is a process of data collection, insights
gathering, customer targeting, considering price offers and how to
brand and position your company. All amounts to implement a
successful marketing strategy.

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