Marketing Strategy-Equine Science

Strategy is concerned with being effective rather than being efficient. 

When a company is devising their marketing strategy there is a number of

questions they should consider first:

1.What is the business doing now?

2.What is happening in the environment?

3.What should the business be doing?

There is a process involved in devising a marketing strategy

1. Establishment of a core strategy Management need to

     undertake a SWOT analyses

2.The creation of the company’s competitive positioning. 

    There are three ways of achieving competitive advantage.

      (1) Cost leadership

     (2) Differentiation, (3) focus

3 Implementation of strategy-Always need a contingency plan

The marketing plan

There are a number of stages involved in developing the

marketing plan. 

These include:

1. Background situation
2. Marketing objectives
3. Marketing strategy
4. Marketing mix
5. Action plans
6. Budget
7. Organisational implications

There are of course a number of barriers to developing a

marketing plan.  These include:

1. Hostility
2. Lack of information
3. Lack of skills
4. Once a year ritual