Organizations and companies to sound appealing and sell products to clients. There is a need for marketing managers to consider the following components of strategic marketing:
The purpose of a message is to create a demand for the product among the customers in the market. Marketing managers should create a message that has a vivid description of the selling proposition of the company. The message should be emotionally appealing because it creates a lasting impression on the reader(Anderson,2017). It should describe the main feature of its product that makes it different from the other service -providers.
The Choice Strategy
A clear message should be accompanied by the best strategy which is proven to work best. A strategy can be a push or pull depending on the product. Push method involves the direct sale of products to customers by luring them into buying the products. It can be in the form of offering discounts on products, and freebies. Promotional strategies have are important because they increase demands (Barneeje,2009). Pull strategies involve the building of a brand, such that the customers are out in the market looking for the brand.
Budgeting is a key component of the strategy. There is a need for the promotion strategy to fit into the appropriate budget depending on the financial capabilities of the company. Forecasting is the best method of managing the supply chain. The markets are so dynamic hence a big challenge to predict the outcomes of a sale(Chong, C'ng and Lee,2016). The unpredictability of sales can lead to losses when investing in promotions. I believe that this component is important as the owner of the product can determine the exact amount of money used in the promotion and the expected returns in profits.
Understanding the market, in which the product is to be sold, is important in crafting a promotional strategy. The target market is important because it establishes the gender, age and the demographics of the customers in the market. Searching for online reviews, previous deliveries of products and user reviews are important in understanding a market(Chong, C'ng and Lee,2016). The data is useful in finding the most appropriate strategy as some promotional strategies such as social media cannot work among a group of target customers like children.
Anderson, C. (2017). Amplify Your Impact: Moving from a Promotion Strategy to an Engagement Strategy. Reference & User Services Quarterly, 57(2), 89-92. https://www.journals.ala.org/index.php/rusq/article/view/6523
Banerjee, S. (2009). Effect of product category on promotional choice: a comparative study of discounts and freebies. Management Research News. https://www.researchgate.net/profile/Subhojit_Banerjee/publication/235273101_Effect_of_product_category_on_promotional_choice_Comparative_study_of_discounts_and_freebies/links/59fc3eeaa6fdcca1f2932e28/Effect-of-product-category-on-promotional-choice-Comparative-study-of-discounts-and-freebies.pdf
Chong, A. Y. L., Li, B., Ngai, E. W., Ch'ng, E., & Lee, F. (2016). Predicting online product sales via online reviews, sentiments, and promotion strategies. International Journal of Operations & Production Management. https://www.emerald.com/insight/content/doi/10.1108/IJOPM-03-2015-0151/full/html
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