Marketing Strategy: Definition, Function, Purpose, and Concept

Marketing Strategy has an important role in a company or business because it serves to determine the economic value of the company, both the price of goods and services.

Definition of Marketing Strategy

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What is a marketing strategy?

Definition of marketing strategy is an effort to market a product, whether it is goods or services, by using a certain pattern of plans and tactics so that the number of sales becomes higher.

Definition of marketing strategies can also be interpreted as a series of efforts made by the company in order to achieve certain goals, because the potential to sell propositions is limited to the number of people who know this.

According to Kotler and Armstrong (2008), the notion of marketing strategy is the logic of marketing where business units hope to create value and benefit from relationships with consumers.

According to Kurtz (2008), the notion of marketing strategy is the overall program of the company in determining the target market and satisfying consumers by building a combination of elements from the marketing mix.

Marketing Strategy Function

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  1. Increasing Motivation to See the Future

Marketing strategy seeks to motivate company management to think and see the future in different ways.

This is very necessary to maintain the continuity of the company in the future.

  1. More Effective Marketing Coordination

Every company must have its own marketing strategy.

This marketing strategy serves to regulate the direction of the company so that it forms a more effective and targeted coordination team.

  1. Formulate Company Objectives

Business people certainly want to see clearly what their company aims to do.

With the marketing strategy, business people will be helped to make detailed goals to be achieved, both short and long term.

  1. Supervision of Marketing Activities

With the marketing strategy, the company will have work performance standards for its members.

That way, supervision of the activities of members will be more easily monitored to get quality and quality of effective work.

Examples of Marketing Strategies

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  1. Partnership

Marketing Partnership has a number of advantages, for example collaborating with other parties.

This marketing strategy is considered cheap and is more likely to succeed.

  1. Cooperating with Influencers

Don’t underestimate the ability of gram-class influencers.

They actually have a lot of influence on your sales, with a large follower reach, when you contract influencers to promote your product, it is certainly not impossible to get multiple profits.

Influencers are not solely from celebrities, depending on your product too.

Vloggers and bloggers can also have a big influence.

  1. Involving Employees

There is nothing wrong with involving your employees in several projects.

Try occasionally making funny ads that involve employees.

Of course this has a double effect.

They will be happy to share videos with the company besides increasing work effectiveness.

The average employee feels proud when involved in a project like this.

Maintain Old Customers

Well, this is important. Always treat your old customers because they are the most loyal in buying products.

Try giving a small bonus specifically for old customers.

Most of them are the most loyal ones promoting products that they find satisfying.

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