Tuesday, October 27, 2009

Types of marketing strategies

· Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry.
o Leader
o Challenger
o Follower
o Nicher

· Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage.
o Product differentiation
o Market segmentation

· Innovation strategies - This deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation.
o Pioneers
o Close followers
o Late followers

· Growth strategies - In this scheme we ask the question, “How should the firm grow?”. There are a number of different ways of answering that question, but the most common gives four answers:
o Horizontal integration
o Vertical integration
o Diversification
o Intensification

· Marketing warfare strategies - This scheme draws parallels between marketing strategies and military strategies.


syed hassan raza said...

Aqeel, you have explained all the different marketing strategies comprehensively. However, it would have been amazing if you would had explained the concept like Intensification in Growth strategies which is an entirely new and unknown concept to many people including me.