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Minggu, 25 November 2007

Starting your own Marketing Strategy

Greetings...
Today is a big day for this blog which the first day it is created. Today is 26th of November 2007. And as per Topic of this blog, it is all about Marketing and Strategy of it plus the Customer Oriented Marketing Strategy.

Marketing Definition (as General)
First, I wanna highlight the word "Marketing" it self. If I catch from wikipedia.org it explains: "Marketing is a societal process that is needed to discern consumers' wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services. Marketing is fundamental to any businesses growth. The marketing teams (Marketers) have the task to create the consumer awareness of the products/services through marketing techniques; if a business does not pay attention to their products/services and their consumers' demographics, the business would not be able to endure longevity."
And there are two types of Marketing which are:
1. Strategic Marketing.
Description(noted from wikipedia.org): "attempts to determine how an organization competes against its competitors in a market place. In particular, it aims at generating a competitive advantage relative to its competitors."
2. Operational Marketing
Description(noted from wikipedia.org): "executes marketing functions to attract and keep customers and to maximize the value derived for them, as well as to satisfy the customer with prompt services and meeting the customer expectations. Operational Marketing includes the determination of the marketing mix".

Marketing Strategy
E. Jerome McCarthy divided marketing into four general sets of activities. His typology has become so universally recognized that his four activity sets, the Four Ps:
Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
Pricing: This refers to the process of setting a price for a product, including discounts. The price need not be monetary - it can simply be what is exchanged for the product or services, e.g. time, energy, psychology or attention.
Promotion: This includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company.
Placement or distribution refers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or services is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc.

Study Cases:
For example about Marketing strategy as per my current job experience is for Printing industry, we are using the Pricing promotion only. Currently we just compete with lower pricing than others many printing company. Our company which is the Offset Printing Industry have 2 main Customers: LGEIN and SEIN.
This strategy is not really good and need for more strategy as promotion, advertising and distribution.