Marketing strategies Essay

Types of strategies grocery storeing strategies may differ depending on the unique situation of the individual telephone line. However there argon a number of ways of categorizing virtually generic strategies. A brief verbal description of the about leafy vegetable categorizing schemes is presented below Strategies based on food trade command In this scheme, firms be classified based on their market dole out or dominance of an industry. Typically there are four types of market dominance strategies LeaderChallengerFollowerNicherAccording to Shaw, Eric (2012). foodstuffing dodge From the Origin of the Concept to the Development of a Conceptual Framework. Journal of historical Research in market., there is a fabric for selling strategies. Market introduction strategiesAt introduction, the merchandise strategist has two principle strategies to claim from penetration or niche (47). Market growth strategiesIn the early(a) growth stage, the marketing manager may choose fro m two redundant strategic alternatives segment expansion (Smith, Ansoff) or brand expansion (Borden, Ansoff, Kerin and Peterson, 1978) (48). Market maturity strategiesIn maturity, gross sales growth slows, stabilizes and starts to decline. In earlymaturity, it is common to employ a maintenance dodging (BCG), where the firm maintains or holds a stable marketing go (48). Market decline strategiesAt some point the decline in sales approaches and then begins to exceed costs. And non just accounting costs, there are hidden costs as well as Kotler (1965, p. 109) observed No financial accounting muckle adequately convey all the hidden costs. At some point, with declining sales and rising costs, a harvesting strategy becomes unprofitable and a divesting strategy necessary (49). Early marketing strategy opinions wereBordens marketing mixIn his classic Harvard Business Review (HBR) article of the marketing mix, Borden (1964) impute James Culliton in 1948 with describing the marketing executive as a decider and a mixer of ingredients. This led Borden, in the early 1950s, to the insight that what this mixer of ingredients was deciding upon was a marketing mix (34). Smiths differentiation and segmentation strategiesIn carrefour differentiation, according to Smith (1956, p. 5), a firm tries bending the exit of demand to the will of supply. That is, distinguishing or differentiating some aspect(s) of its marketing mix from those of competitors, in a mass market or large segment, where customer preferences are relatively homogeneous (or heterogeneity is ignored, Hunt, 2011, p. 80), in an attempt to shift its add up demand curve to the left (greater quantity sold for a accustomed price) and make it much inelastic (less amenable to substitutes).With segmentation, a firm recognizes that it faces nonuple demand curves, because customer preferences are heterogeneous, and focuses on serving one or more specific target segments within the overall market (35). doyens sk imming and penetration strategiesWith skimming, a firm introduces a product with a high price and after milking the least price warm segment, gradually reduces price, in a stepwise fashion, tapping effective demand at each price level. With penetration pricing a firm continues its sign low price from introductionto rapidly capture sales and market share, however with lower profit margins than skimming (37). Forresters product behavior cycle (PLC)The PLC does not offer marketing strategies, per se rather it provides an overarching framework from which to choose among various strategic alternatives (38). thither are also collective strategy concepts likeAndrews SWOT analysisAlthough widely used in marketing strategy, SWOT (also known as TOWS) Analysis originated in incarnate strategy. The SWOT concept, if not the acronym, is the work of Kenneth R. Andrews who is credited with writing the text designate of the classic Business Policy Text and Cases (Learned et al., 1965) (41). A nsoffs growth strategiesThe most well-known, and least often attributed, aspect of Igor Ansoffs Growth Strategies in the marketing literature is the term product-market. The product-market concept results from Ansoff juxtaposing new and exist products with new and existing markets in a two by two hyaloplasm (41-42). porters generic strategies porter generic strategies strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration era strategic strength refers to the firms sustainable competitive advantage. The generic strategy framework (porter 1984) comprises two alternatives each with two alternative scopes. These are Differentiation and low-cost leadership each with a dimension of Focus-broad or narrow. ** Product differentiation ** Cost leadership **Market segmentation * construct strategies This deals with the firms rate of the new product development and caper model innovation. It asks whether the company is on th e cutting edge of technology and business innovation. There are three types ** Pioneers ** Close pursual ** Late followers * Growth strategies In this scheme we ask the question, How should the firm grow?. There are a number of different ways of answering that question, but the most common gives four answers flat desegregationVertical integrationDiversificationIntensificationThese ways of growth are termed as organic growth. Horizontal growth is whereby a firm grows towards acquiring other businesses that are in the same line of business for typeface a clothing sell outlet acquiring a food outlet. The two are in the retail establishments and their integration lead to expansion. Vertical integration can be forward or backward.Forward integration is whereby a firm grows towards its customers for example a food manufacturing firm acquiring a food outlet. sweptback integration is whereby a firm grows towards its source of supply for example a food outlet acquiring a food manufact uring outlet. A more detailed scheme uses the categoriesMiles, Raymond (2003). Organizational Strategy, Structure, and Process. Stanford Stanford University Press. ISBN 0-8047-4840-3. ProspectorAnalyzerDefenderReactorMarketing warfare strategies This scheme draws parallels between marketing strategies and military strategies. BCGs growth-share portfolio matrix Based on his work with experience curves (that also provides the rationale for Porters low cost leadership strategy), the growth-share matrix was originally created by Bruce D. Henderson, CEO of the Boston Consulting Group (BCG) in 1968 (according to BCG history).Throughout the 1970s, Henderson expanded upon the concept in a series of short (one to three page) articles in the BCG newssheet titled Perspectives (Henderson, 1970, 1972, 1973, 1976a, b). Tremendously popular among large multi-product firms, the BCG portfolio matrix was popularized in the marketing literature by Day (1977) (45).