Marketing Strategy

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“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu

“Don’t let ‘strategy’ be an excuse to lose money.” Keith Timimi

 

Marketing Strategy: Differentiation, Positioning & Unique Selling Proposition

 


 

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu

“Don’t let ‘strategy’ be an excuse to lose money.” Keith Timimi

 

Marketing Strategy: Differentiation, Positioning & Unique Selling Proposition

 

  • Differentiation – how is your product different from competition
  • Positioning = market selection + differentiation
  • Unique Selling Proposition (USP) – what is (at least) one thing you can claim that your competitors can’t
  • Measuring and mapping strategic marketing objectives – tools rather than metrics

Developing a Strategy

Marketing strategy – differentiation

  • Product – features, performance, conformance, durability, reliability, reparability, style, quality
  • Services – delivery, installation, customer training, consulting services, repair, misc. services
  • Personnel – competence, courtesy, credibility, reliability, responsiveness, communication, timeliness
  • Marketing strategy – positioning
  • Positioning = Market Selection + Differentiation
  • Defines an image for the product that embodies its values, affects how customers think about products, how they view the company, accomplished by promoting a benefit of the product, it is a dynamic process

How do we compete?

  • Differentation that offers superior customer value, cost leadership, and/or enters a market unattractive to existing competitors due to cost structure
  • Enhancing customer value
  • Better – through provision of superior quality & service
  • Faster – by being able to predict & meeting shifting customer requirements more quickly than competitors
  • Closer – creation of durable linkages, relationships & partnerships
  • Unique Selling Propositions (USPs) are expressions of differentiation

How do we differentiate ourselves?

  • Competitive strategy factors
  • image of operational excellence/ consistency/ dependability
  • product or service quality/ selection/ features/ availability
  • innovation leadership, low cost/ efficiency
  • intimate customer relationship/ experience

Who do we create value for?

  • B2B/ B2C/ Both/ Other
  • Geography
  • value chain position
  • mass or niche
  • Transactional or relational
  • Positioning = market selection + differentiation

How do we create value?

  • Products/ services/ mix
  • standard/ options/ customized
  • broad line/ medium breadth/ narrow line
  • deep lines/ medium depth/ shallow lines
  • access to product/ product itself/ product bundled with own/ others services
  • internal manufacturing or service delivery/ outsourcing/ licensing/ reselling/ value added reselling
  • direct/ indirect distribution

What is our source of competence/ advantage?

  • Production/ operating systems
  • selling/ marketing, analytics/ data mining/ info packaging
  • R&D/ creative/ innovation/ technology/ IP
  • financial transactions/ arbitrage
  • supply chain management
  • networking/ resource leveraging

What tools can we use to express differentiation & positioning?

Comparison Matrix
Pick the attributes or feature/ functions you want to compete on.

Select your main competitors and yourself.

Show who has a feature/ function. You may also show which attributes are only partially delivered by a competitor. Since you are picking what to compete on, you should have a full line of circles.

There are always competitors, even if they are indirect or alternative activities.

Positioning Map
Pick two primary attributes, and plot you and your main competitors on that chart.

Show the most desirable area in the top right hand corner of the chart.

Show yourself in that area, or moving toward that area.

 

Sales & Marketing

Marketing for Dummies Guides

Measuring, Marketing, Metrics & KPIs

Online Marketing/ Digital Marketing

 

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