Others have defined marketing strategy as having the important components: define the target or the market, and statement of the product aimed at the chosen target (Smith, 2003).
Marketing strategy includes some points of view which need to be identified, first, product price, place, and promotion (4Ps) are characterized as marketing strategy in many reviewed sources. Sometimes promotion can be divided to push versus pull strategy and price into market skimming and market penetration price strategy, but in the end they are all a part of marketing strategy (Varadarajan, 2010).
The major premises or the foundational issues of marketing strategy are (Smith, Blazovich & Smith, 2013; Varadarajan, 2010). 1- The purposes of marketing strategy : A- To enable organizations to achieve and sustain a competitive advantage in the marketplace. B- To create both market-based relational and intellectual assets. C- To enable organizations to build beneficial exchange relationships with customers. D- To modify, influence and shape the behaviors of customers. E- To identify and increase new paths of differentiation, and F- To enhance the importance of non-price criteria relative to price in the brand choice decision process of buyers 2- The last objective can be achieved through by segmenting market into subgroups and offer based on customer’s needs for each segment 3- Differentiation means heterogeneity in supply 4- A sustainable competitive advantage is important condition for a business to compete over the long-run.5- In an industry, there will be more than one path or marketing strategy to attain the desired performance. industries can attain superior performance by applying different marketing strategies such as promotional strategies ( ...
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...of the marketing strategy are create both market-based relational and intellectual assets, building beneficial exchange relationships with customers, and create a competitive advantage (Varadarajan, 2010). A competitive advantage is any treat that differentiate one business on another (porter, 1996), so it can be considered major dimension in any marketing strategy and it entails market position, profitability, superior customer value (Dong-Hun, 2010).
Optimize customer service, enable channels and partnerships networks, spot Opportunities in unexpected places, brand engagement and loyalty are the main factors concluded in any marketing strategy (Moscato & Moscato, 2011).
Table 2.3 indicates a summarization or aggregation of all the dimensions or factors that related to marketing strategy in a way that encompasses all relevant concepts highlighted in literature.