BUILDING THE OPTIMAL MARKETING STRATEGY
In order to develop any marketing strategy, a strategist must consider how value will be created for the company, the customer and the collaborators. Pictured in the graphic below, the highest strategic value is created when the value for each of the participants (customers, collaborators and the company) coincide or overlap. The larger the area of common value, the greater the chance for strategic success. As the overlapping areas decrease in size the more difficult the strategy will be to execute successfully. As discussed in earlier blogs value is created by using the 4 Ps of marketing: Price, Place, Product and Promotion. In the grid below a strategist can address the value for each of the four Ps as it relates to the customers, collaborators and the company. Each of the four Ps must be in alignment with each other and create the intended value for each of the participants. When the area of the participants' common value is ...