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Defensive strategy is defined as a marketing tool that helps companies to retain valuable customers that can be taken away by competitors. [1] Competitors can be defined as other firms that are located in the same market category or sell similar products to the same segment of people. [ 1 ]
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Developing a new marketing strategy to entice more customers to purchase or continue purchasing. Become price competitive as a swaying factor for customers to choose a product or service over another company. Use special promotions or offers to grab attention.
By aligning our sales, marketing, and customer success efforts around a more targeted strategy, we believe we can maximize every interaction, deepen customer trust, and deliver exceptional value.
[3] [6] The marketing plan also shows the actions that will be taken, and the resources to be applied, in order to achieve planned goals. [3] [6] Marketing planning can also be used to prepare a detailed case for introducing a new product or revamping current marketing strategies for existing products. [3] A complete marketing plan may include: [7]
An organization's marketing planning process is derived from its overall business strategy. Marketing plans start by identifying customer needs through market research and how the business can satisfy these needs. The marketing plan also shows what actions will be taken and what resources will be used to achieve the planned objectives.