What are Market Strategic Measures?
Market Strategic Measures to Achieve Marketing Goals
Market strategic measures are actions that are planned and implemented to achieve specific marketing goals.
These measures can range from segmentation and positioning to product development and marketing and advertising. In this article, we will take a closer look at some examples of market strategic measures that can help businesses increase revenue, improve brand reputation, increase customer loyalty, and achieve other marketing goals.
Market strategic measures are actions that are planned and implemented to achieve specific goals within marketing. These measures are based on an overarching market strategy aimed at increasing revenue, improving brand reputation, increasing customer loyalty, or achieving other marketing goals.
Some examples of market strategic measures include:
Segmentation: Dividing the market into smaller segments based on characteristics such as age, gender, income, or geographical location to better understand customer needs and preferences.
Positioning: Developing and communicating a unique position for a product or service relative to competitors, to stand out in the market and attract the target audience.
Product Development: Developing new products or services that can meet customer needs and desires, thereby increasing sales and improving brand reputation.
Pricing: Determining the right price for a product or service that takes into account factors such as costs, competitors, and customer perception of value.
Marketing and Advertising: Developing and implementing marketing and advertising campaigns that increase brand awareness and sales.
Distribution: Developing and managing an effective distribution channel for the product or service that makes it easy for customers to purchase and access.
Partnerships and Collaboration: Entering into partnerships and collaborations with other businesses or organizations to reach new markets and increase the customer base.
What are Market Strategic Decisions?
Market strategic decisions are decisions made by a company to develop and implement an overarching market strategy that will achieve specific marketing goals. These decisions are based on a variety of factors, including the company's goals and resources, customer needs and preferences, and competitors' actions and strategies.
Some examples of market strategic decisions may include:
Choice of Target Market: Identifying the most profitable and appropriate customer segments to focus on.
Choice of Product and Service Offerings: Deciding which products or services to offer to customers, based on customer needs and preferences.
Pricing: Setting the price of products or services that will be attractive to customers while achieving profitability for the company.
Marketing Communication: Deciding how to communicate the value of the product and the benefits through marketing activities such as advertising, PR, and promotional activities.
Distribution Channels: Choosing the best distribution channels to make products or services available to customers.
Competition Strategy: Deciding how to compete with other businesses in the market, for example by offering better quality, lower prices, or better customer service.
Analysis of Results: Analyzing the effect of market strategic decisions to adjust or change the strategy to achieve better results.