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The strategies may depend on the type or nature of business, formation of industry, stage of business life-cycle and both internal and external factors affecting business for instance (political, legal, economical, social, cultural, technological and environmental).An overview of strategies may be as follows;1. Overall cost leadership- aim at being the lowest cost producer, increase the firm's visibility and profitability, provide affordable prices.2.Differenciation- provide high quality, unique and innovative products of features, adding to customer perceived value of products, continuous innovations and inventions.3. Focus strategies- segmentation and niching, focused marketing and specialisation.4. Expansion5. Stabilisation.6. Retrenchment.7. A combination of one, two or three of the above strategies. Thanx for the invitation
You have to make a competitive positioning and strategy study or market study first. Based on the study you can find out which strategy is the best for your products or services in the market. Remember, there are many forces act on a particular market example rules and regulation, barrier to entry/leave the market, suppliers, customers, competitors, substitute product etc.
In my opinion any marketing strategy can be best if that works for your brand or for your company.
In my personal opinion, there are actually two hip and now strategies that are making a lot of good results. One is direct product introduction to target market segment in areas and time of best matching, e.g. high end hair products free samples in hair saloons and free food in food courts at malls, etc). The second is android applications and rebate, e.g. provide links and adds into popular android applications and games with rebate codes and discount coupons. With everyone playing electronic games or using GPS/Stock market applications the method can become very successful if used properly.
