Article: Deciding on a Market strategy.

Maintaining your market share with limited resources to increase sales and achieve a sustainable advantage is reason enough for any company big or small to adopt a Market Strategy.

Lets compare a business to an aeroplane without forward motion it will fall to its doom.

Any company that has succeeded to any level whether they realize it or not have based there business on the fundamentals of a marketing strategy by this I mean they have found a market to engage in. If they have made sales they have a facilitated a gap in the market and if a customer happened to return then they have held there ground within the market.

But What's that I hear Benny the baker saying 'I don't need a Marketing strategy why should I worry about one, My customers are loyal 'I'm the only baker in town' or 'I'm the only baker who sells fresh buns' or ' they love my personal touch' well what Benny doesn't realize is in each case those would constitute his Marketing Strategy bullish as they may be, they represent the fundamentals of any marketing strategy.

What I'm driving at is, before you can establish a business you need a business plan (What will I do and is there a potential gap in the market in which I can profit) once your business is established your business plan becomes your marketing strategy and success often hinges on how well you market strategy evolves beyond your business plan .

So what makes a good marketing strategy? A good strategy consists of a well thought out series of tactics usually in the form of promotions or public relations to make a marketing plan more effective. A good Marketing strategy is also dynamic and interactive for example growth strategies often involve diversification, intensification and geographic segment while growth opportunities emerge from changes in market trends.

Things you should address in your marketing strategy: The most important strategy is maintaining your current market status this would involve customer focus , securing good customer base and always having a good foothold before climbing up to the next level. Then Identify and Consider the following elements of your market goals and market growth: market dominance, market penetration, sustaining a competitive advantage, innovation strategies, target markets, barriers to growth, differentiating your services and products from your competitors and lets not forget appealing to your customers.