How to start a strong marketing strategy
Marketing is the process of maximising returns to stakeholders by developing meaningful exchanges. This activity helps from government agencies such as Australian defence force, red cross and universities to small businesses to achieve their objectives and goals. As such, marketing can also be extended to supporting noble causes such as Cancer Australia and popular celebrities such as Hugh Jackman, Jamie Oliver and Chris Hemsworth. I believe those are basic questions that require answers before investing in any marketing effort especially if you are new to the field. Here as follows:
What is the business or involved concept for marketing?
The first part of any marketing analysis it is what we call situational analysis which is a very logical and suitable start in many areas. The aim of this part is to answer the question where are we now? There are many traditional marketing tools such marketing mix and PESTLE analysis. However, this blog will concentrate on Product as one of the 4Ps of marketing and refers to have an overview and understanding what we are doing marketing effort for.
A starting point is to understand the business or involved concept for marketing. The marketing effort could be for a product such as the Apple iPad, ray-Ban sunglasses or a bottle of Grey Goose Vodka. Likewise, a service, which involve people providing an intangible benefit to customers such as banks. To illustrate this, the example of The Grounds of Alexandria; a themed local restaurant where eating there it is an experience rather than just a usual eating out. In the beginning, there was not a place like this in Sydney one therefore it is a business idea that can be replicated from other people. They have built a business model that serve more than 15000 customers a week and it is a reference for wedding and many other events.
Similarly, a cause refers to ideas that can involve religion, social issues, concepts or philosophies such as the advertising campaigns from the Australian government to reduce drink driving incidents.
What is the value proposition?
A second aspect to define a good marketing strategy, it is to understand the value proposition or the reason behind the creation of a business. This is a basic step for starting a strong marketing strategy. For instance, at the black star pastry, a local cakes shop, well-known for the strawberry watermelon cake. They offer cakes for weddings, birthdays or any party. They look after every cake creation that they offer in their menu in order to be perceived as specialist. A good product that clearly are made by patisserie chefs has been understood by a marketer team in order to achieve the result of the world’s most Instagrammed cake according to New York times.
In this regard, I have mentioned in my blog post called how to decide for the right business idea, it is relevant to observe trends and transform them into innovative ideas. That is the case of Elvis and Kresse that rescue materials such as firehose, parachute silk, leather shoe boxes, tea and coffee sacks and banners from landfill and transform it into accessories like handmade bags. This was a smart way of marketing as many cares about sustainability and global warming.
In summary, a good marketing strategy starts by understand what the current state of the product, service or cause and understand their value proposition and combine them with creative relevant trends.
Please do not hesitate to leave me your comments.
