Marketing Strategy
Marketing Strategies classically consist of 7 facets:
- Device
- Segment
- Product
- Position
- Channel or Place
- Price
- Pitch
One begins with the Device or technology, thinks of a group of people who might buy it (the Segment), defines the Product these people want (the Device plus the services, documentation and support it needs in the customer’s hands), decides how this Product will be Positioned against the competition (the best, or the least expensive, etc.), determines where and how to sell it (distributors, direct, etc.), sets the Price and develops a Sales Pitch to give to hot prospects.
Although Marketing 2.0 changes some of these facets, creating a Strategy is still the first order of business for any serious marketing effort.
For a humorous look at devising strategies, feel free to watch our short video entitled, The Monks Versus the Wizards.
