You can find a huge number of definitions of strategies in theory and practice. In order to explain the term marketing strategy I would like to use this definition: The strategy determines kind, direction, intensity and importance of (strategic) measures.
Two major groups of marketing strategies can be distinguished: (a) Strategies, which describe how to influence the relevant market. On the other hand there are (b) Strategies, which describe, to which extend an organisation employs â€œpowerâ€ or â€œforceâ€ to tackle market related issues.
For (a) 4 different types can be differentiated:
- Segment strategies: Which market in terms of product/customer-combinations will be managed? Which products and /or services will be offered to which customer segment?
- Strategies for market stimulation: Which marketing instruments will be employed in order to develop certain preferences?
- Strategies for market itemisation: Which fundamental market items (in terms of structures) are useful? Does the organisation employ mass marketing or segment marketing techniques? Does the organisation cover the entire market or â€œonlyâ€ parts of this market?
- Strategies for market areas: Which areal dimensions should be used to implement a strategy?
For (b) 3 types can be distinguished, too:
- pull back strategy: to make a strategic withdrawal (in military terms: a fall back strategy)
- Assert strategy: to assert and to extend a certain position
- Competition strategies