Before you set off to market your product think about the factors listed in the previous post. Plan and strategize and decide on what tactics you would employ.
Strategies are the plans you must develop to reach your goals and objectives. You must develop positions on these issues:
mass-marketing to a wide, common market or niching to a specific market
timing - the best time to launch or introduce your product or service
positioning - how it is promoted in relation to existing competition
differentiation - how it is differentiated from similar products or services
global marketing - common strategy for all markets
country specific marketing - specific strategies for each different market
Strategies that aren't focused won't work. When people have more than three or four priorities to deal with, the priorities get lost. When you have 20 strategic objectives in a plan you won't accomplish any.
Marketing strategy is essentially about focus:
Focus on selected target markets.
Focus on selected target market needs and selected product or service offerings.
Focus on your company's strengths. Play toward your strengths and away from your weaknesses, and take advantage of the opportunities ahead.
Tactics are the marketing actions you take to carry out your strategies eg.
new packaging,
new pricing,
promotions,
faster distribution.
An example of a marketing tactic that is adopted by many distribution and manufacturing companies, particularly in the fields of computer hardware and software is Product Bundling.
Product bundling is combining two or more products or services together, creating differentiation, greater value and therefore enhancing the offering to the customer.
Bundling is based on the idea that consumers value the grouped package more than the individual items. Bundling can enhance an organization's offering mix while minimizing costs.
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