Appropriate marketing is necessary to make consumers aware of the products and services offered by companies and to actually make purchases. However, since marketing also has a wide range of perspectives, many people may be worried that they do not know how to formulate a marketing strategy.
If you understand the outline of your marketing strategy and think about measures that are suitable for your company, you will be able to systematically increase sales. Therefore, this time, we will explain the outline of marketing strategy and explain in detail the merits of thinking about marketing strategy and the points when planning it.
What is a marketing strategy in the first place?
In order to think about marketing that leads to sales, you must first know what your marketing strategy is.
In addition, although "business strategy" is a word similar to marketing strategy, it is important to know the difference between these definitions in order to carry out consistent marketing.
The following is a detailed overview of your marketing strategy.
Think of an approach that captures the needs of the market
In the first place, marketing strategy means "thinking about an approach that captures the needs of the market." In other words, it means deciding "to which customer base," "what value," and "how to provide it."
By developing our business in line with our marketing strategy, we will be able to provide products and services that consumers will want. In the medium to long term, you can increase the number of corporate fans and acquire repeaters who will continue to use products and services.
Marketing strategies are indispensable in business in order to achieve certain results with limited personnel and budget.
What is the background to the importance of marketing strategy?
In the past, it was the mainstream to promote awareness and sales by advertising to the masses with "mass advertisements" such as TV commercials, radio commercials, newspaper advertisements and magazine advertisements. However, with the rapid spread of the Internet and SNS in recent years, the way sales strategies should be is changing drastically. There are more opportunities for businesses and consumers to be directly connected, and it is now possible for businesses to approach individuals with worries directly.
Another reason why marketing is important is that it is difficult for consumers to move their hearts with a uniform message due to the diversification of consumers' worries and needs.
In order to deliver a personalized message to each consumer, it is necessary to analyze various data about the consumer. For example, data such as age, gender, occupation and hobbies. Since tools that can accurately manage and analyze huge amounts of data are also widespread, whether or not they can be used effectively is deeply involved in improving the business performance of companies.
Understanding this background will help you think about the importance of your marketing strategy in the future.
Difference between marketing strategy and management strategy
"Management strategy" is a word similar to marketing strategy.
While the marketing strategy is "thinking about an approach that captures the needs of the market," the management strategy is "optimizing the allocation of management resources of people, goods, and money so that the company can continue to grow in the future." It means "to make it".
Another difference is that in marketing strategy, the results of market analysis are useful for "selecting targets and promoting sales," while in management strategy, they are useful for "thinking about the timing of new entry into the market and business withdrawal." ..
Both are important strategies for stable growth of a company, but it is also important to understand these differences.
What are the benefits of thinking about marketing strategies?
Thinking about your marketing strategy has three benefits:
Knowing these benefits will help you plan your sales growth in line with your marketing strategy. Below, we'll take a closer look at the benefits of thinking about marketing strategies.
You can increase sales efficiently
If you devise a marketing strategy, you will be able to develop your business based on analyzed consumer data, etc., so you will be able to generate sales more efficiently than relying on past experience and intuition.
Due to the declining birthrate and aging population, the working-age population is decreasing year by year, and companies must utilize limited internal resources without waste and develop their businesses.
Also, considering that we have to compete with overseas companies that can produce products at low labor costs and low prices, it can be said that there is a great merit in formulating marketing strategies and maximizing the limited management resources.
Can meet diversifying consumer needs
As mentioned above, in the past, it was common for companies to unilaterally provide products and services. However, in recent years there has been an increasing need for businesses to embrace the diverse values of consumers, forcing them to consider a more complex approach.
If you think about marketing strategies, you will be able to develop targeted products and advertise after analyzing not only information such as age, gender, number of households and occupation, but also details such as hobbies and tastes.
For example, if there is an office district around the store and it turns out that women in their 40s tend to buy sweets on their way home from work, they say, "We sell cakes that are particular about the ingredients for 450 yen only in the evening." An approach is possible. In this way, it will be easier to meet the needs of consumers if you think about marketing methods by considering a concrete target image.
Flexible business trajectory correction
In business, even if you take measures, you often do not get the results you expected.
Since the flow of marketing strategy includes verification of effectiveness after taking measures, we can flexibly deal with such cases.
One of the merits of devising a marketing strategy is that you can always think of the next move by collecting sales performance, market and customer data and analyzing the factors that did not work.
What is the key to developing an effective marketing strategy?
There are five points to consider when formulating an effective marketing strategy.
If you plan your marketing strategy with these points in mind, you will be able to successfully convey the appeal of your products and services to consumers and lead to purchases.
Below, we'll take a closer look at the key points in developing an effective marketing strategy.
First, analyze the market and internal conditions
When thinking about marketing strategies, start by analyzing the market and internal conditions.
We analyze the situation of what kind of attributes consumers are in the market, what kind of needs each consumer has, and what kind of products and services competitors offer. In addition, when analyzing the internal situation, we comprehensively grasp information such as the strengths and weaknesses of the company, past marketing performance and number of customers, and internal resources that can be used for marketing.
The more accurate the data you collect, the more accurate the analysis will be, so it is also important to use the framework for analysis as needed.
A framework is a framework used for decision making and factor analysis. By utilizing the framework, it is possible to solidify the outer frame of "what to think about". By applying it to the framework and filling in each item, you will be able to shorten the time to think about the solution to the problem.
Specific frameworks include methods for analyzing customers (Customers), competitors (Competitors), and companies (Company) as in 3C analysis, and strengths (Strengths) and weaknesses (Weaknesses) as in SWOT analysis. There are methods to analyze by opportunity (Opportunities) and threats (Threats).
Each framework has different characteristics, so be prepared to use the framework that is suitable for your company.
Keep the target clear
After analyzing the market and internal conditions, the next step is to clarify the target.
In the market, we will group (segmentation) what kind of consumers support the products and services that companies handle. Then narrow down the actual target consumers from the segmented groups. (Targeting)
When setting targeting, it is a good idea to consider whether it is a layer that matches the strengths of your product or service, and how many competitors there are for the same layer.
Think about the value given to consumers
After narrowing down the target, we will consider what kind of value can be given to consumers who actually pick up the products and services of the company.
Specifically, how much convenience will be improved, how satisfied will be after use, and whether you will want to continue using it. The greater the value given to consumers, the easier it will be to increase new customers and repeat customers.
Differentiate yourself from other companies
Be aware that if you want to sell a product or service that is of great value to your consumers, you will not get the results you want if your competitors already meet their needs. How you differentiate yourself from other companies is important in how you get consumers to choose your products and services. This differentiating stage is called positioning.
For example, we may devise ways to purchase raw materials so that we can offer products of higher quality than our competitors at a lower price, or we can sell them to consumers through a different route than our competitors. Enhancing after-sales service and establishing a system that allows customers to use products and services with peace of mind will also be a key point for differentiation.
Think of a catch phrase
It is important to distribute products and services in a way that differentiates them from other companies, but unless you are attracted to the information provided by the company, you will not be able to consider purchasing.
In order to convey corporate information to consumers in a straightforward manner, it is recommended to consider a ccatchphrasethat touches your heart. It will be easier to attract the attention of consumers by appealing information with catchphrases that easily convey the attractiveness of the company's concept, products and services, such as "30 years of achievements and trust" and "user satisfaction 95%". ..