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Definition of marketing strategy and The importance of marketing strategies, what are the marketing strategies.

Marketing

Marketing is defined as the skills and art of selling, and the means of introducing and presenting services and products in an attractive manner that attracts the attention of customers and consumers, and works to attract new customers, as it is a science that includes all marketing activities and operations, such as: studying the market, and knowing the target segment of consumers And studying their requirements and what they need to meet them, in addition to competitively setting prices in the market, taking into account the preservation of the quality of the product or service provided, to ensure that the desired goals are reached, so it can be said that it is a complete, integrated process that studies all areas intending to achieve The main goal is to gain the advantage of competing locally and globally.

Definition of marketing strategy

Marketing strategy is a comprehensive plan that is drawn and defined based on a set of research, studies, and data that directs the company or organization towards its general marketing path, and within which all advertising, promotional, and propaganda work of the employer goes its limits, to achieve the desired goals and marketing activities.

The importance of marketing strategies

The importance of preparing a successful marketing strategy is represented in the benefits and advantages to the business entity, and we mention the following:

• Helping the business entity to know and analyze the elements and characteristics of the market in which it operates, whether past, present or future.

• Reaching a state of balance between the work environment and the workplace.

• Helping the business entity to become familiar with the work environment, and the ability to know what opportunities are available on the one hand, and the restrictions that would affect its performance on the other hand.

• Helping marketing professionals know what implications their current decisions may have in the future.

• Helping marketing personnel to realize what future problems may arise, which allows them to prepare for facing them.

• Helping the employer's management to know and analyze the strengths and weaknesses of the establishment compared to other competing establishments.

• It helps in facilitating the process of monitoring and following up the marketing activities and developing or eliminating underperforming ones.

• Assisting the business entity in analyzing, measuring, and evaluating marketing opportunities, setting realistic and accessible goals, and choosing the foundations for marketing.

What are the marketing strategies?

Below we refer to some of the marketing strategies used as follows:

Offensive strategy

It is classified from the important strategies in the marketing process, as the business will face competition from all sides, and here it can be backward or ahead of the leading competitor in the market, and a good position on the scene can be obtained through the merchant’s knowledge of his location well, and determining the best way to attack to obtain the largest share in the market, and thus supporting its position and enhancing the loyalty of its customers, and the gains it achieves, and among the types of this strategy we mention the forward attack strategy whose mechanism of the action revolves around the merchant's focus on the competitor to know his strengths, match the prices of his products, and prepare Marketing and promotional offers for the brand, and the winner is the merchant who can endure as long as possible, so this strategy could be risky and expose the merchant to a loss if he does not match the products and prices.

Pricing strategy

This strategy is to give the merchant more time to think about the price of the product to be sold instead of calculating the value of its costs and expenses by adding the profit percentage, as the pricing stage is one of the most important elements of the marketing strategy plan, and we refer to the most popular types of this strategy as follows:

• Competitive Pricing: A price is set for a product based on what competition requires in the market.

• Pricing over cost: is by determining the price of the product by calculating costs, then adding the profit percentage.

• Value-based pricing: The price is determined by calculating the value that the product occupies to the customer, not according to the cost of production or the like.

• Market penetration pricing: It is done by setting a low price for the product based on attracting customers, occupying the largest market share, and then re-raising the price.

• Snatch Pricing: Set a high price for a product, then lower it in proportion to market needs.