Marketing Strategy (Advanced)
One common truth about any strategy is about making choice: we decide to do this but NOT do that, we accept trade-offs in exchange for efficiency and focus. So does Marketing strategy, it has to make decision (of course, not easy at all) why this typical customer segment, why this solution, why this value proposition, etc…Creating a Marketing strategy is not difficult in a sense that we just aim to describe how to get to the place we want. In reality, we easily guess out what strategy company is taking via their activities but it’s not ALL. The hardest part is whether that strategy can help the company to reach its business objectives (with reasonable cost & resources), is it aligned with the company’s mission, vision and values? can it leverage company competitive advantage? can it create differentiation for sustainable growth in a rapid changing and unpredictable world? A Marketing strategy which meets both ends short and long term objectives comes from excellent strategists. And finally, a 3 sentence Strategy statement which anyone can understand, remember and employ consumes huge knowledge, data input and critical thinking skills from both individual and team.
What you’ll learn
At the end of this course, you will be able to:
- Understand nature and key components of strategy, differences and relationship between Business strategy and Marketing strategy.
- Use data driven tools, model and framework for market analysis and assessment and Opportunity for Differentiation
- Apply strategic tools to identify competitive advantage
- Leverage Consumer segmentation to build Category strategy; Portfolio strategy; Brand strategy; Brand portfolio strategy.
- Develop Marketing strategies for New Market entry, Growth, Mature and Declining market
- Construct Marketing strategy and Annual Marketing plan
- Gain knowledge about Marketing strategy in Digital Age
“Marketing takes a day to learn and a lifetime to master.” Philip Kotler
- 2 reminders:
- Be more cautious when using the word “Strategy” or “Strategic” because there are many “strategy look alike” statements in daily business, which are so confusing.
- A good Marketing strategy is not necessary to be complicated, as we need everyone to understand from a Salesman to a respectful CEO.