Marketing Strategy
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Porter Generic Strategies
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Home » Types of Strategies

Types of Strategies
Marketing strategies are the business tactics or the methods that permit the business organizations to centralize its inadequate resources on the best chances to improve sales and obtain a competitive benefit that can be maintained. Different Types of Strategies for marketing are incorporated in various forms of the business transactions, each marketing strategy being different from the other. But these marketing strategies can be applied in the businesses as a common marketing strategy. These general marketing strategies can be classified in a number of ways.
Marketing strategies may be classified on the basis of market dominance. According to this, the business firms are categorized on the basis of their share in the market or dominance in any business. There are usually three Types of Strategies established on market dominance – leader, challenger and follower. Market dominance determines the strength of a service, product, brand or business in respect of the competitive presentations. A geographic factor is frequently associated with the scenario of competition in the industrial field. In order to define market dominance, the extent to which a brand, product, or company can control a category of a product in a definite geographical region can be successful, is to be looked after first. The Porter generic strategies are classified considering the length of strength and scope of the marketing strategies. Strategic scope is the penetration of the market whereas strength is related to the constant competitive gain of the firm. These strategies can be categorized as Cost leadership, Product differentiation and Market segmentation. The Innovation strategies actually involve the dealing with the speed of the business firm to develop new product and to innovate business models. Three categories of innovation strategies are there – Pioneers, Close Followers and Late Followers. The Growth Strategies are concerned with the query of how the business should grow. Various ways are there in which this question can be answered, the number of the most usual answers being four – Horizontal integration, Vertical integration, Diversification and Intensification. The detailed Growth Strategies include the classifications of Prospector, Analyzer, Defender and Reactor. The Marketing warfare strategies draw comparison between the military strategies and the marketing strategies and after that incorporate the rules of military strategies to different situations in the business, the competing companies being believed to be similar to the sides fighting in a military battle and the market share being believed to be comparable to the territory to which the fighting is related with. Marketing warfare strategies are the planned use of resources for attaining particular goals. It is concerned whether the firm is updated with the latest technologies and innovative business ideas.

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