A marketing strategy in any business is a tool to a competitive advantage. It refers to setting the marketing plans, objectives and working towards market share. Marketing strategies are dynamic due to the different circumstances or environments companies do business. It is then necessary for a marketing manager to scan the environment before laying the most appropriate marketing strategy. The scan is conducted for both internal and external environments. In the internal environment, a marketing manager will have to consider the marketing mix, performance and any possible constraints that affect its implementation (Roederer, 2013).
The most effective marketing strategy features market segmentation, targeting and then product differentiation or positioning. The first step is dividing the market into subsets of consumers with common needs. Consumer grouping is possible through the following segmenting the market. First, market can be segmented geographically, which gives precise features and common characteristics determining the needs of consumers in that particular region. Rainy regions will have high demand for raincoats and gumboots while hot regions will be in great need of summer clothing. Second, segment using variables like age, education and gender that is referred to demographic segmentation (Roederer, 2013).
Third, there is behavioral segmentation whereby customers are grouped according to their usage rates and attitudes. The subset then gives the demand level. Fourth, cultural segmentation will consider putting together customer with same belief and moral values. The marketing manager will also be able to understand different culture preferences to provide only what is acceptable in a particular culture.
Market segmentation gives some information about the potential customers. The data is useful in defining the target market. Using such data, the marketing manager can know what is needed