Marketing Strategies Marketers Formulate and Implementation

Question: Discuss about the Marketing Strategies for Marketers Formulate and Implementation. Answer: Marketers formulate and implement different marketing strategies in order to influence the consumer behaviour. Its important for marketers to know the peculiar needs of the consumers in order to achieve consumer satisfaction. As competition is growing across industries, there are many competitive strategies applied in order to influence the tastes and preferences of the consumers. For instance, companies are growing sensitive about their brand image in the market. Strong brands draw customer loyalty, the capacity to charge products or services at high prices, and consolidated brand power to support the launch of fresh products and services[1]. The primary focus henceforth is on adding psychological value to products and services in the form of immaterial benefits such as popular beliefs, emotions, values etc[2]. By strategically positioning the brand in market, marketers can create a strong impact to intensify the magnitude of audience attention. A lot goes into creating and dissemin ating marketing message in the wider market. A resonant advertising strategy based on psychographic research, formulates around advertising campaign to organize the prevailing lifestyle orientation of the targeted market segment [3]. There is no focus on the brand claims or product message but on recreating real or imagine experiences of the target audience. Bibliography Ghodeswar, Bhimrao M. "Building brand identity in competitive markets: a conceptual model."Journal of Product Brand Management17, no. 1 (2008): 4-12. Temporal, Paul. 2000. Branding In Asia. Singapore: Wiley. Shimp, Terence A and Terence A Shimp. 2007. Advertising, Promotion, And Other Aspects Of Integrated Marketing Communications. Mason, OH: Thomson/South-Western. [1] Ghodeswar, Bhimrao M. "Building brand identity in competitive markets: a conceptual model."Journal of Product Brand Management17, no. 1 (2008): 4-12. [2] Temporal, Paul. 2000. Branding In Asia. Singapore: Wiley. [3] Shimp, Terence A and Terence A Shimp. 2007. Advertising, Promotion, And Other Aspects Of Integrated Marketing Communications. Mason, OH: Thomson/South-Western.