This is a lecture notes about marketing strategy introduction.

Marketing strategy contains two words: marketing and strategy.

I will explain the definition of  those words.

Definition of marketing: the activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (marketing is defined by the AMA/ American Marketing Association)
Source: https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx

Definition of Strategy: a plan that integrates some major goals, policies, decisions, and action into a part that fit together well and form a united whole.

Strategy can apply at all levels in an organization, such as production, financial, marketing, etc.

Marketing strategy means apply the strategy in all marketing components, such as pricing, product, distribution, promotion, marketing research, advertising, sales, etc.

There are some approaches of formulating the strategy, they are

a. Rational approach: SWOT analysis, portfolio models, etc.

b. Flexible approach: implementing multiple scenario planning.

c. Creative approach: using an imagination in planning.

d. Behavioral approach: approach that reflects the influence of power, politics and personalities.

e. Incremental approach: based on small adjustments -> small changes previously successful strategies.


Marketing strategy means a strategy that must be implemented in order to satisfy customer wants/needs and in the course of doing so facilitating the achievement of an organization's objectives.

To satisfy the customers, a company must compete with another.

Competition involves finding a different way to satisfy customers in the market. Therefore, a company needs particular and outstanding marketing strategy to market in different ways.

"Different ways" means positioning a company's product/service in the minds of customers in such a way that the product/service are perceived to be different from one another.

In term of competition, marketing is about the competitive positioning of product/service in the minds of customers.

In term of communication, marketing is about the communication of images (brand that reflecting product/service) and the means which are used to deliver the messages and images to the customers.

In term of relationship, marketing is about managing relationship to persuade the consumers to buy or to become a loyal customer.

In formulating strategy, there are five aspects that must be taken into account. They are:

1. The opening and closing of strategic window.
2. The nature of competition in the market.
3. The impact of market drivers.
4. Industry life cycle or the stage of the market.
5. The assets and skills that a company possesses.


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