Understanding Marketing Strategies

• A clear marketing strategy should revolve around the company’s value proposition. This communicates to consumers what the company stands for, how it operates, and why it deserves the customers' business. A well-constructed value proposition provides marketing teams with a template that should inform their initiatives across all of the company’s products and services.
• The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies. To do this, a business must understand the needs and wants of its customers. Whether it’s a print ad design, mass customization, or a social media campaign, a marketing asset should effectively communicate a company’s core value proposition.
• For example, Walmart (WMT) is widely known as a discount retailer with “everyday low prices.” Low prices are its value proposition, so all its business operations and marketing efforts are rooted in that idea, which appeals to its core consumer base.1 Its marketing strategies may be found on TV, in print, or on the accounts of social media influencers, but they all emphasize the same value proposition of low prices on everyday products.