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Marketing strategy

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Marketing Strategy, Business Strategy, Digital Strategy

Published in: Business
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Marketing strategy

  1. 1. Business Strategy Marketing Strategy This paper has presented various key strategy and direction towards pre-launch and post launch of a product. It is not limited to marketing strategy, but also covers strategy and management directions are required to have a successful business. Part of this article also highlights some aspect of digital marketing, corporate strategy, team structuring and business success factors. 1. Pre-­‐Launch (1) Identify the market, customer base, target customer/audience It is quite important to have a strategy how to adopt the appropriate market, understand the customer base and customer/region of where the product will be tested. (2) Channel to enable marketing There need to be a proper strategy to use social media and marketing channel. It is utmost important that in such cases, prior to start marketing campaigning in to social media platform, you must have an approval from product-executive/business executive, as this may impact company’s reputation and brand values. (3) Customer research Once you have an initial prototype ready, start engage with your prospect and existing customers for prototype testing. (4) Time to market As business is changing everyday and every product has limited lifetime. In such challenging environment, it is quite possible that, a product may be worthless, if it has not been launched in proper time. So, it is fairly important to launch a product in an appropriate time. (5) Market research This includes various aspects such as analysis of competitive products, pricing analysis, list of features that most of the customer will be looking for, product offerings (gold, silver, platinum, bronze) vs. price, demand, lifetime etc. (6) Funding /Sponsorship It is quite important to on-board your executive team in to your programme, get their support, so you can run the marketing programme effectively. (7) Competitive advantage In this competitive environment, we have to do things little differently and/or needs to add more innovation than what is our competitors are doing. And hence we must needs to understand what market is looking for and how other competitors are offerings
  2. 2. (8) Market volume, opportunity and threat Need to get rid of target customers, market opportunity vs. amount of sales opportunity. It is equally important to realise the threat and risk associated and the strategy to treacle crisis situation. Risk also includes customer’s reaction during post/pre launch product, you must have strategy, whom do you want to test the initial demo and/or prototypes, to how do you want and where do you want? Are you going to test this to a happy client and/or to most unhappy customer? Strategies will also influence/decide, whether you would able to impress happy customer and retain them for a long time or unhappy customers to make happy, so that you can retain them in your business. There are an opportunity and threat. A value added product can gain/adopt as much as new consumer through your happy customer’s reference, and keep you unhappy clients in to business. On the other hand, a worst product will make a happy customer to unhappy and it will be attributable to leave your business. (9) Risk – Financial, reputations impact Products will have a direct impact on financial and reputations risk, which can impact company’s financial results. Such as negative response from the market and as well as lower sales and/or lower number of customers on-boarding/acquiring. (10) Cost effectiveness Areas that need to be in to the account such as buy vs. build to align with enterprise’s strategic direction and time to market, cost benefit analysis, due diligence and financial regulation. (11) Compliance Can product to be internationalising, such as cover most of regularity compliance to be applied in to specific country, geography, industry, regulatory board and security. (12) Internationalization Such as multi language support, multi currency support, compliance with local law and regularity etc. (13) Customer’s demand Customer is looking to access data at anytime, anywhere, any device, any channel, and real time and immediately, secure, easy to install and portable. (14) Campaigning Right strategy behind campaigning, such as the primary location of campaigning base? Campaigning schedule, other facts such as identify campaigning location is less expensive, gain more number of customers. (15) Customer feedback and feed in to product team It is also important to take customer feedback and satisfaction survey and feed that information to the product team.
  3. 3. (16) Team structure Strategy and direction to build team structure/combination and set/assign team’s/ individuals responsibility. (17) Executive support Make sure, you have on boarded your executive management in to this programme, won their confidence and get their support. 2. Post-­‐Launch (1) Social Media Social media will also an takes important roles in the post launch. The strategy will be around, how the communication will be sent across various social media channel and/or device channel email/push/SMS. (2) Campaigning The strategy will be, effective way of campaigning around the region. (3) Digital Contents Put the right content that will send a positive message to the customer and also comply with your corporate ethics. (4) Marketing Ad and promo Marketing promotion, bid to secure key sponsorships, negations and to make product popular and internationalisation. (5) PR Strategy and Product communication Media relationship and corporate communication and have a strategy to handle a crisis situation. (6) Target to capture customer base – Plan A, Plan B, Plan C Strategy to gain more customers and have number of option available. (7) Customer feedback and continuous improvement Process to collect customer feedback accurately and efficiently. Then feeds the appropriate gaps in to the product team. (8) Collaboration between sales and product management team There needs to be well coordination between sales and marketing team along with the Product Development team (9) Expansion and Growth Other strategies such as expansion, strategic partnership, channel business, profit sharing, and customer gain through merger and acquisition etc.

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