Every marketing campaign is a risky project since it defines the company’s future success. As a result, the companies with the highest performance rate successfully integrate marketing strategies into real life. To develop the most effective campaign, a marketing manager should holistically analyze its core elements: internal situation in the company, the main market for the product, and the major group of customers.
More specifically, this process might be described as a three-stage process. First and foremost, the manager indispensably needs to realize the strategic positioning of the product. This includes the product characteristics that play a significant role in the customers’ relationship even before they have direct contact with it (Kotler et al., 2016). Secondly, when the product is already in direct interconnection with the consumer, the marketing manager should thoroughly define the benefits and drawbacks through the whole interaction process with the product. The direct contact begins when the customer takes the product or begins receiving the service and finishes when the client maximizes the products’ utility and finishes using it. Within this time frame, the product’s benefit should be maximized through efficient communication with products’ developers, engineers, and financial managers.
As a result, when the base for the product is developed, it is critical to emphasize its particularities by applying the differentiation method into practice. Moreover, it is crucial to distinguish the marketing and competitive economic moat since these are different tasks and they should be divided by certain departments. For example, lowering the costs of production increases the economic moat, but not the marketing one, so that this task should be given to the financial manager (Ng, 2016; Alam et al., 2017). Finally, the marketing manager should execute the basic and, therefore, sophisticated customer behavior research to integrate this knowledge into product positioning (Mothersbaugh et al., 2019). The basic research helps to define the majority of product consumers and their primary reaction to the product (Morgan et al., 2018). At the same time, sophisticated research is indispensable to illustrate the whole customer interaction with the product. Consequently, the marketing manager will know when, where, and how to demonstrate the product to the public by the end of the research.
In conclusion, the marketing strategy is a complex, three-stage approach that requires the manager to effectively research the market, observe the clients’ behavior, and communicate with different company’s departments. More specifically, the first stage includes determining the product positioning strategy. This stage has a direct link to the next one, which requires the development of the benefits-and-drawbacks model to trace the products’ value for the customer in each stage of the interaction. Last but not least, the manager should realize the basic and profound researches of customers’ behavior. As a result, the core elements will be effectively applied into marketing campaign, and the product would be correctly positioned on the market.
References
Alam, S., & Islam, M. T. (2017). Impact of Blue Ocean Strategy on organizational performance: A literature review toward implementation logic. IOSR Journal of Business and Management, 19(1), 1–19.
Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Upper Saddle River, NJ: Prentice Hall.
Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2018). Research in marketing strategy. Journal of the Academy of Marketing Science, 47(1), 4–29.
Mothersbaugh, D., Hawkins, D., & Kleiser, S. B. (2019). Consumer behavior: Building marketing strategy (14th ed.). McGraw-Hill Education.
Ng, L. C. (2016). Marketing myopia – An update (How Theodore Levitt changed our world? A look at the impact on corporate management after five decades). Journal of Marketing Management (JMM), 4(2), 24–34.