What is the core point of strategy in marketing?

Any effective marketing strategy has a specific focus. The strategy must give the company direction in utilizing its available resources as effectively as possible for reaching the desired audience. For instance, a company that sells yoga apparel is not going to focus its marketing strategy on the general public. Instead, that company will focus on the yoga audience--in magazines, online and through other resources. Core marketing strategies remain standard across industries. It is up to the individual companies to apply the strategies to their unique situations and make the best marketing decisions possible.

The core points of strategy in marketing are:

1-Generic Strategies.

2-Growth Strategies

3-Market Dominance Strategies

4-Marketing Warfare Strategies

5-Innovation Strategies

The core components of marketing strategy are Segmentation, Targeting frame in which you operate, and your key point of differentiation.

 

Core Strategies for Marketing Products

Any effective marketing strategy has a specific focus. The strategy must give the company direction in utilizing its available resources as effectively as possible for reaching the desired audience. For instance, a company that sells yoga apparel is not going to focus its marketing strategy on the general public. Instead, that company will focus on the yoga audience--in magazines, online and through other resources. Core marketing strategies remain standard across industries. It is up to the individual companies to apply the strategies to their unique situations and make the best marketing decisions possible.

  Generic Strategies

Generic Strategies start with an understanding of the company’s place in the industry and in the market. Marketing strategists must first gauge how far the market has spread throughout the desired audience and then weigh this against the company’s competitive advantage to determine a marketing goal that is realistic and obtainable. Porter's generic strategies pay close attention to the cost-balance ratio in terms of marketing costs and acquired profit.

Growth Strategies

Growth strategies focus on how much the company has grown and how much further it can realistically be expected to grow through marketing of products. The results of growth strategies might look at the comparison between the introduction of products and their success rate over time (horizontal and vertical integration) and compare this against the opportunities for diversifying the audience for the product or intensifying marketing within a certain target audience.

Related Reading: Marketing Strategies for Insurance Companies

Market Dominance Strategies

Market dominance strategies simply look at the company’s current role within the marketplace, the current dominant industry force in the marketplace and the opportunities the company has to expand in the marketplace. Market dominance strategies might result in the company’s representation as the market leader or the challenger to the current market leader, or they might focus instead of representing a niche market instead of trying to garner the entire market.

Marketing Warfare Strategies

Marketing warfare strategies utilize warfare techniques to review market conditions and plan a marketing goal for a company. For instance, a company might choose a marketing offensive, in which that company focuses on achieving a stronger competitive advantage in the marketplace. Additionally, marketing warfare strategies might include a deterrence effort to prevent an up-and-comer from entering the marketplace (thus securing the company’s current position) or a counter-offensive to current attacks from another company.

Innovation Strategies

Innovation strategies tend to be focused primarily on placing the company within the current innovation trends of the industry. The company reviews whether or not it is effective in developing new products and how this might be affecting business. For instance, the yoga company mentioned before might realize that the majority of its competitors have begun redesigning yoga apparel to prevent discomfort from sweating. In order to acquire a share of the market and drive new sales, the company might decide to consider innovations to its current apparel.

I apologize for the answer I leave the answer to the experts, specialists in this field that's not my area.