A Study on Marketing Strategies to Increase Customer Base: A Case Study

Marketing strategy refer to a business.s overall game plan for reaching people and converting them into customers of the product or service that the business deal with. It includes, company.s value proposition, key marketing messages, information to the target customers and to other high-level elements. A marketing strategy informs the marketing plan, which is a document that lays out the types and timing of marketing activities and it is expected to have a longer lifespan than any individual marketing plan. These things ideally do not shift very much over time. It is quite different from marketing plan as marketing plan is how, the business will get across the key message: the platforms, the creative, the timing and so on. Marketing plans are operational documents that get more attention because they are the day-to-day work that a company does to sell itself to the world. Having said that, a marketing plan would be meaningless without a message, a target market and a goal: all these are the core of every marketing strategy. The marketing strategy may also be absorbed upwards into the corporate value statements and other strategy documents. A marketing strategy grows out of a company.s value proposition, which summarizes the competitive advantage a company has in the market. Once the value proposition is succinctly stated, important work is done. Any marketing asset, from a print advertisement design to a social media campaign, can be judged by how well it communicates the value proposition. To further the efficiency of marketing efforts, market research can be added to the marketing strategy for the purpose of identifying untapped audiences or refining the target consumer. Finally, an overall goal for the marketing strategy can be set, with all the subsequent marketing plans inheriting the responsibility for delivering on it. Selecting the right marketing strategy involves, carefully deciding the following criterion. Such as (a) Selecting the target group (b) conducting a pilot test on the buying behavior (c) selection of right marketing strategy (d) evaluating those marketing strategies etc.,