The field of marketing strategy focuss/encompasses the strategy involved in the management of a given product or to make satisfying to customer. A firm may hold numerous products in the marketplace, spanning numerous and sometimes wholly unrelated industries. Accordingly, a plan is required in order to manage effectively such products. Such decisions consist of the following decisions:
* Should we (,i.e. the firm) enter a market/industry?
* Should we increase funding for our product(s)?
* Should we maintain funding for our product(s)?
* Should we divest or cease production of our product(s)?
Evidently, a company needs to weigh up and ascertain how to utilise effectively its finite resources. As an example, a start-up car manufacturing firm would face little success, should it attempt to rival immediately Toyota, Ford, Nissan or any other large global car maker. Moreover, a product may be reaching the end of its life-cycle. Thus, the issue of divest, or a ceasing of production may be made. With regard to the aforesaid questions, each scenario requires a unique marketing strategy to be employed. Below are listed some prominent marketing strategy models, which seek to propose means to answer the preceding questions.
* Should we (,i.e. the firm) enter a market/industry?
* Should we increase funding for our product(s)?
* Should we maintain funding for our product(s)?
* Should we divest or cease production of our product(s)?
Evidently, a company needs to weigh up and ascertain how to utilise effectively its finite resources. As an example, a start-up car manufacturing firm would face little success, should it attempt to rival immediately Toyota, Ford, Nissan or any other large global car maker. Moreover, a product may be reaching the end of its life-cycle. Thus, the issue of divest, or a ceasing of production may be made. With regard to the aforesaid questions, each scenario requires a unique marketing strategy to be employed. Below are listed some prominent marketing strategy models, which seek to propose means to answer the preceding questions.