Marketing Strategies For A Marketing Strategy - 1177 Words

In recent years, market has become more complex that there are many different kinds of companies appeared. Moreover, the competition between these companies in marketing has become more intense. Practice effective marketing strategies is very important for most of the companies who want to be successful and to become leaders in marketing. Strategy is part of marketing techniques that combine all the market goals which are the company needs to make a completed plan in order to increase sales and maintain customers (Bennie, 2016). Marketing strategies have been extensively studied in the marketing area. For example, marketing strategy was discussed in by Robert Morello who has an extensive business background in marketing area. As for the†¦show more content†¦The second one is Concentrated Targeting Strategy, which is a strategy used to choose one segment of a market for targeting marketing efforts. Take CVS Caremark as an example, CVS makes women as their target customers sin ce about 80% of its merchandise is make-up. The last strategy is Multisegment Targeting Strategy which is a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each. PG is one of the examples of this strategy that offers 18 different laundry detergents, each targeting a different segment of the market (Bennie,2016). In modern society, marketing strategy has been changed by the companies with worthy developments, such as the insolation of a target market segment, a set of clear-cut goals, a fair amount of consumer research, and the implementation of initiatives which aimed at getting the word out (Morello). The main point in marketing strategy is the effects of specific elements and how they make an effect on a company’s position in the modern market. The elements of marketing strategy include Advertising, Promotion, Customers Service and Quality (Markgraf). Those are the most important elements which they are significant r oles in marketing strategy. In this literature review which examined 6 articles relates to how different strategies will be used into different countries. I