Business Reference Guide: Strategies in Marketing

ebook

By The Editors of Salem Press

cover image of Business Reference Guide: Strategies in Marketing

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The collection begins with Ruth A. Wienclaw’s overview of integrated marketing communications, an approach to marketing that coordinates and integrates multiple sources of marketing information in order to optimize the effectiveness of an advertising campaign. Vanessa A. Tetteh continues the conversation and reviews the process of streamlining across marketing channels to ensure consistency and to maximize the impact of an organization’s marketing efforts. Wienclaw goes on to describe the development of a strategic marketing plan that carefully considers the needs of the marketplace and identifies potential customers and competitors. A carefully planned strategy will help businesses maintain competitive advantage, but these plans must be designed to incorporate a contingency approach that allows for flexibility. Wienclaw then discusses the importance of promotional policy, a guideline reflecting the company’s identity, values, and objectives, which is used to facilitate the development of marketing strategies and plans. The following article describes the practice of brand management, which attempts to control all aspects of a brand, including the logo and packaging as well as customer emotions and experiences with the product. The article describes the two main types of brand management as well as their corresponding philosophies and strategies. Tetteh then reviews the current trends in business marketing, in which companies are moving away from cost-based strategies to customeroriented, value-based strategies to provide “optimal value creation and value delivery” for the consumer.
Business Reference Guide: Strategies in Marketing