Marketing strategy

cara-marketing.blogspot.com - In running a business, a company needs a strategy in its marketing. In this chapter, we will discuss the definition of a marketing strategy, the elements of a marketing strategy, its function, and the factors of a marketing strategy.

2.1 DEFINITION OF MARKETING STRATEGIE

According to Marrus in Dimas, et al. (2015) strategy is a process of determining the plans of leaders who have a focus on long-term goals, accompanied by the preparation of a method or effort so that the company's or company goals can be achieved.

According to Chanda, quoted by Dimas et al. (2015) marketing strategy is defined as a plan that describes the company or organization's expectations of the impact of marketing activities on the demand for its product or product line in a certain target market.

According to Craven, quoted by Wanadjaja et al (2008), marketing strategy consists of analysis, strategy development, and implementation in developing a vision of the level of market interest in the organization, market selection strategies, selection of 9 target markets, and program development, implementation and management. positioning and marketing strategies designed to find the value consumers want in each targeted market.

 The role of marketing strategies in achieving business success is very important, therefore the marketing sector plays a major role in realizing business plans so that the company's position in the market increases and needs to be maintained (Kereh, et al. 2018).

Marketing strategy is a series of concepts regarding a company in regulating itself and all business activities with the aim of making the company's business successful (Atmoko, 2018).

 So it can be concluded that the marketing strategy is the effort of the company to design a business concept to be realized with the aim of attracting consumers so that the company's business is successful and how to maintain and improve the company's products or services. bandarq online

 2.2 MARKETING STRATEGY PROCESS

The following is the process in the marketing strategy according to Buchari (2016):

 - Marketing Situation Analysis The first thing a company must do before marketing a product or service is to collect information and analyze the situation as a consideration for designing a marketing strategy.

 - Designing Marketing Strategy. Next, the company needs to regulate the determination and achievement of the target market and determine the positioning.

 - Marketing Program Development In this process, companies need to develop each element of the marketing mix (product, price, promotion, and place)

 - Implementing and Managing Marketing Strategy. In this stage, the company needs to organize its marketing organization by placing suitable people who are responsible for planning, mobilizing, evaluating and supervising.

2.3 FORMATION OF MARKETING STRATEGIES

According to Dimas, et al. (2015) in formulating a marketing strategy, it is necessary to carry out a systematic three-step procedure, which begins with market segmentation, target market determination strategies, and market positioning strategies.

 - Market Segmentation Strategy Is a process of dividing the market into several different groups based on needs, characteristics or behavior. According to Setiadi (2003) in Dimas, et al. (2015) market segmentation is the process of placing consumers in sub-groups in the product market, so that consumers have a response that is almost the same as the marketing strategy in determining the position of a company or organization.

 - Target Market Determination Strategy Is a selection of the size of the customer market according to the company's ability to enter the customer market. According to Umar (2001) in Dimas, et al (2015) there are three factors that must be evaluated in examining the target market:

 - Segment size and growth - Structural segment attractiveness - Target and resources. - Market Positioning Strategy Determining market position is a strategy in seizing a position in the minds of consumers, so this strategy concerns how to build trust, confidence, and competence for customers.