Most Successful Modern Marketing Strategies
Posted: Sun Feb 02, 2025 6:05 am
Most often, this marketing strategy is chosen when a company needs to regroup its forces after a long period of growth or when it needs to maximize efficiency in the event of serious economic upheavals. As a rule, they do not pass painlessly for the company.
It is important to understand that these are the same development strategies as those related to growth, discussed above. If the goal is to reduce the business, then 4 types of MS are used:
Liquidation strategy – used as a last resort when the company is no longer able to operate.
The "Harvest" strategy is when luxembourg email list an organization gives up long-term prospects in favor of maximizing profits that can be obtained in the near future. As a rule, this MS is used when the business is unpromising, it is difficult to sell it at a high price, but at the same time it brings in a good income in a certain season, for example, during the "harvest".
It involves reducing costs for hired labor, purchasing, maximizing income from selling off available goods, and continuing to reduce production.
The downsizing strategy consists of closing one of the structural divisions of the enterprise or selling it with the aim of changing the boundaries of its business in the future.
Cost reduction strategy – similar to the previous one, because its main goal is also to find ways to minimize costs, as well as to carry out measures that lead to cost reduction. It is implemented by reducing production costs, reducing labor force, increasing productivity, stopping the production of goods that are unprofitable, and eliminating production facilities that do not bring benefits.
Marketing strategies are rarely found in practice in their pure form. In most cases, different directions are combined taking into account the changing situation. If the marketing strategy is monotonous, the market will get used to it rather quickly and instead of achieving the set goals, a crisis situation may occur.
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7 Most Successful Modern Marketing Strategies
The business owner or manager makes a choice of marketing strategy at the initial stages of the enterprise development in order to develop further in accordance with its goals. The right decision will allow you to see positive trends in the near future.
Let's consider the most effective options for marketing strategies, examples of which have been encountered recently.
Strengthening the position in the occupied market niche
This approach is often used by companies at the initial stage of development to ensure the effectiveness of their activities taking into account the market situation. Enterprises with more experience can apply this strategy when mastering new market segments.
Conquering the market
This marketing strategy is aimed at increasing the number of buyers. This goal can be achieved in several ways. First of all, it is geographic expansion with the organization of sales of its products in new regional markets.
Another method involves creating new market segments while simultaneously attracting new target audience groups within the developed territory. The third approach to conquering the market is associated with developing alternative options for using the existing product. Another effective method for achieving such goals is to form a belief in consumers that the company's product should be used in larger quantities or more often.
Creating a new product
The best option for a marketing development strategy is to create a new offer for consumers. But this option is also the most risky. A new product can provide good potential for business expansion only if it is in demand by customers or it is not difficult to create the necessary demand.
Before launching a new product into production, it is necessary to conduct a deep marketing analysis. At the first stages of such research, marketers assess potential risks, the activities of competing companies selling similar products, and the proportionality of the expected profit with the upcoming expenses.
Strategy of power
This type of marketing strategy is common among large companies and medium-sized businesses. The "power" factor here is the capabilities of large enterprises, which provide an advantage over small firms. Large and medium businesses can produce large quantities of one product model at a minimum cost price.
In addition, large companies can afford to finance large-scale research, build extensive sales networks and active advertising campaigns.
This strategy has been used to promote very well-known products including Electrolux refrigeration equipment, Toyota cars, Marlboro cigarettes, etc.
It is important to understand that these are the same development strategies as those related to growth, discussed above. If the goal is to reduce the business, then 4 types of MS are used:
Liquidation strategy – used as a last resort when the company is no longer able to operate.
The "Harvest" strategy is when luxembourg email list an organization gives up long-term prospects in favor of maximizing profits that can be obtained in the near future. As a rule, this MS is used when the business is unpromising, it is difficult to sell it at a high price, but at the same time it brings in a good income in a certain season, for example, during the "harvest".
It involves reducing costs for hired labor, purchasing, maximizing income from selling off available goods, and continuing to reduce production.
The downsizing strategy consists of closing one of the structural divisions of the enterprise or selling it with the aim of changing the boundaries of its business in the future.
Cost reduction strategy – similar to the previous one, because its main goal is also to find ways to minimize costs, as well as to carry out measures that lead to cost reduction. It is implemented by reducing production costs, reducing labor force, increasing productivity, stopping the production of goods that are unprofitable, and eliminating production facilities that do not bring benefits.
Marketing strategies are rarely found in practice in their pure form. In most cases, different directions are combined taking into account the changing situation. If the marketing strategy is monotonous, the market will get used to it rather quickly and instead of achieving the set goals, a crisis situation may occur.
Recommended articles on this topic:
9 Types of Customer Loyalty Programs
What should ideal B2B marketing be like?
Example of a cooperation proposal: just follow the instructions
7 Most Successful Modern Marketing Strategies
The business owner or manager makes a choice of marketing strategy at the initial stages of the enterprise development in order to develop further in accordance with its goals. The right decision will allow you to see positive trends in the near future.
Let's consider the most effective options for marketing strategies, examples of which have been encountered recently.
Strengthening the position in the occupied market niche
This approach is often used by companies at the initial stage of development to ensure the effectiveness of their activities taking into account the market situation. Enterprises with more experience can apply this strategy when mastering new market segments.
Conquering the market
This marketing strategy is aimed at increasing the number of buyers. This goal can be achieved in several ways. First of all, it is geographic expansion with the organization of sales of its products in new regional markets.
Another method involves creating new market segments while simultaneously attracting new target audience groups within the developed territory. The third approach to conquering the market is associated with developing alternative options for using the existing product. Another effective method for achieving such goals is to form a belief in consumers that the company's product should be used in larger quantities or more often.
Creating a new product
The best option for a marketing development strategy is to create a new offer for consumers. But this option is also the most risky. A new product can provide good potential for business expansion only if it is in demand by customers or it is not difficult to create the necessary demand.
Before launching a new product into production, it is necessary to conduct a deep marketing analysis. At the first stages of such research, marketers assess potential risks, the activities of competing companies selling similar products, and the proportionality of the expected profit with the upcoming expenses.
Strategy of power
This type of marketing strategy is common among large companies and medium-sized businesses. The "power" factor here is the capabilities of large enterprises, which provide an advantage over small firms. Large and medium businesses can produce large quantities of one product model at a minimum cost price.
In addition, large companies can afford to finance large-scale research, build extensive sales networks and active advertising campaigns.
This strategy has been used to promote very well-known products including Electrolux refrigeration equipment, Toyota cars, Marlboro cigarettes, etc.