Marketing strategy refers to the ability of a company to focus its resources in the most efficient way possible, by allocating more resources to the ideas with more potential of being successful. In the core of marketing strategies customer satisfaction is essential. A keyword mentioned before is efficiency, a company is efficient as long as it invests its resources on a viable strategy that will allow them to increase sales and establish dominance in the given market. This is basically managing resources with an action plan in mind, taking into account several essential factors that have come to be known as marketing strategies. Marketing strategies focus on the market and the customer and their interactions, and they are part of business strategies.

Once the clear goal or goals have been established, the strategy must be planned. Factors such as developing products, promoting them, pricing and distributions strategies, and other elements in a determined time frame are all part of marketing strategies for market penetration. In terms of marketing strategies 101, we can follow this basic procedure: first, target your audience, second proposition and finally implementation. Besides these three aspects, strategies should also involve public relations, promotion, advertising, internet marketing and channel marketing. Establishing all these factors is a short term investment that will allow you to follow an already defined approach towards a goal.

Marketing dominance strategies are a varied as business are; however, we can categorize them in four basic types, the leader strategy, the challenger strategy, the follower strategy and the Nicher strategy. Other strategies are called innovation strategies that apply to cutting edge technology to develop new products and can be divided in Pioneers, Close followers and Late followers. In terms of growth strategies, we can mention intensification, diversification, horizontal integration and vertical integration.

Other marketing strategy important concepts include skimming strategies that are basically to introduce a product and to charge a lot for it for a short period of time, then moving on when competitions enters the picture. In a short term business that can generate a lot of profit in a short period of time. Also, companies should be able to develop a unique set of abilities in order to succeed over their competition’s.

Marketing research is a very important strategy as well that is used basically to analyze the company’s performance as well as to understand the market itself and its tendencies. These studies include distribution studies, semantic scaling, consumer studies and projections. Marketing strategies use some tools that are known as the marketing mix, it involves setting goals, defining market targets and positioning your business.

Keep these strategies in mind if your are thinking about starting your own business, as a means to organize your operations and maximize your chances of being successful. There is no magic recipe to have a successful company, but hard work and organization are a good way to get started.