4 Stages of Interim Executive Marketing Strategies
Follow the 4 stages of a good marketing plan used in Interim Executive marketing management.
When it comes to making decisions for your business, the fact is your competition is the one in control. Interim executive marketing strategies understand that and center around getting ahead of the competition.
They determine everything from your prices to your marketing strategy, to even the types of products and services you sell – everything in your business is directly or indirectly influenced by your competition. Just as in the military, no strategy can be made ignoring the enemy.
Specialization is determining what specific needs or wants your product or service fulfills. It requires focusing all your production, marketing and technological efforts towards achieving it. Furthermore, it is not limited to just a product or service, as it can be applied to an idea, a particular kind of customer or a niche market area.
This is your competitive advantage – the key to capturing the market. It is how you are different and better than your competitors. It’s also giving a good answer to every customer’s question: why should I buy from you and not your competitor? You need to tell them how they are getting the highest quality and a good price from your product or service. Make it less about emotions, and more about rationality. Give them the facts and numbers that just make sense.
Segmentation is looking at the market and narrowing down the segment of customers that will value your product and are willing to pay more to get it. That segment’s needs are more suited to your area of customization than anyone else. One popular marketing strategy is targeting potential customers that are more likely to buy from you the fastest.
Focus everything towards creating and distributing what you do best. It requires all your time, money and resources towards achieving company goals and strategy. In terms of customer growth, that would mean researching and implementing effective ways to reach new customers and then working towards converting and retaining them. Each area of your business needs to have focused efforts with dedicated resources.