Meaning of market strategies, Marketing management Video Lecture | Marketing Management - B Com

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hello friends I'm dr. Varsha Chaudhary
assistant professor in biani group of
colleges today I am going to discuss the
marketing strategies on behalf of guru
kpo so moving forward with our topic I
will first like to discuss what is a
strategy a strategy is a plan of action
to achieve long term goals or aim of an
organization so moving forward with the
topic marketing strategies marketing
strategies are of six major types these
are market scope strategy market entry
strategy product strategy promotion
strategy distribution strategy and
pricing strategy today I am going to
discuss with you all first three market
strategies so the first market strategy
is market scope strategy it has three
parts in it first market scope strategy
is single market strategy single market
strategy serve the market wholeheartedly
it means that single market strategies
are the companies who opted for single
market strategies only have single
market no other competitors are there in
that particular market for example EU
European Union second is multi market
strategy the firm's who adopt this
marketing strategy compete in different
geographical markets for and it has two
components in it first is competitive
pricing and second is new product
introductions third strategy third
market scope strategy is total market
strategy it serves the entire spectrum
of the market with differentiated a
product to differentiated segments of
the particular market so the second
market strategy is market and
strategy this is strategy is very
crucial in market because this strategy
decides how the company can enter in a
particular market market full with
customers so there are three parts of
marketing strategy first is first in
strategy the firms who opt for first in
strategies are the innovators or risk
takers because they innovate a
particular product for example Johnson's
and Johnson's baby products they were
first in the market to launch baby
products before Johnson and Johnson
there were no one in the market who tap
this market who went in this market for
baby products this company was first in
this market they are the risk takers who
took risk or and came in the market
second is only enter strategy early
entry strategies are those who enter in
the market just after the first
innovators just after the first
innovators of the particular product in
baby products it was me me brand third
is Lagarde is entry strategy Lagarde's
are those entrants who enter very late
in the market for example they end
towards the end of the growth of that
particular market or at the maturity
stage of that particular product so for
example in baby your product case the
example is himalaya pimalia is not very
is very late in the market of baby
products the third market strategy is
product strategy this is also a very
important strategy because product is
the main part of every company any
organization so these product strategies
are of five types first is product
positioning strategy product positioning
strategy means you are positioning your
product in the mind of a customer and
making your product stand out of the
loud crowd means other competitors in
the market
second is product repositioning strategy
after sometime when your product is
already positioned in a market you have
to review whether it is working or not
and take the corrective steps to new
newly position the product repositioning
the product in the market in the mind of
your customer the third one is product
scope strategy product scope strategy
deals with the marketing mixes of the
strategy you have to decide what kind of
marketing mix strategy you have to opt
for taking steps in this strategy
marketing mix we have discussed in the
previous lecture fourth one is product
design strategy product design strategy
deals with the standardization of the
product which at last in the market
tells that what kind of product is you
are buying the customer customer is
buying that is the standardization of
the product last is new product strategy
in this strategy companies bring the new
version of the previous product but love
they relaunch the product newly the
packaging is different
the quality is different this is all for
today's lecture next three strategies
will we will discuss in further in our
next lectures this is all for my today's
lecture next three strategies I will
discuss in my next lecture if you like
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