A market penetration strategy focuses on boosting product sales in existing markets. It’s the least risky approach, as it doesn’t require new products or market entry. Instead, it aims to increase market share through tactics like promotions, price adjustments, or increased product usage. Since its founding in 1936, JM has played a significant role in shaping the content and boundaries of the marketing discipline.

Join the AMA to access the tools, insights, and expert training you need to power up your strategic approach. Strategic marketing is an ongoing process, and regular monitoring is essential for refining and optimizing your approach. Use key performance indicators (KPIs) to track results and analyze data to understand what’s working—and what isn’t. The association’s philanthropic arm, the AMA’s Foundation, is inspiring a more diverse industry and ensuring marketing research impacts public good. The AMA Foundation was established by the action of the AMA Board of Directors in June 1992.

Consistently monitor your performance through analytics to assess key metrics, and remain flexible to adjust your strategy as market dynamics and consumer preferences shift. Your unique value proposition (UVP) differentiates your product or service. It should clearly communicate the unique benefits and reasons customers should choose your brand. Understanding your target audience allows you to create messages that resonate. For example, a retailer launching a new loyalty program might track metrics like sign-up rates, customer engagement, and retention. If engagement is low, they can analyze customer feedback to tweak program benefits or improve communications.

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Instead of zooming in on the day-to-day execution of marketing campaigns, it serves as a strategic guide, steering all marketing efforts toward your broader business objectives. By employing these strategies, techniques, and tactics, you can effectively leverage experiential marketing to engage consumers, foster loyalty, and drive growth. Market research is essential for developing an effective marketing strategy.

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For example, consider a fitness brand with a mission to “empower healthier lifestyles.” Instead of setting vague goals, they might aim to double their market share within five years. Supporting objectives could include opening new regional stores, increasing app downloads, or improving customer retention by 20% annually. These measurable targets create a clear path forward, helping the team focus on results that move the needle. Strategic marketing is a focused approach that aligns every marketing move with big-picture business goals, aiming to build a lasting competitive edge. Each month, AMA members come together for exclusive programming—whether it’s a webinar, training, or expert discussion—with marketing leaders from industry and academia. Every session delivers fresh insights and inspiration to help you make a bigger impact in your work.

With 70 chapters and a presence on 350 college campuses across North America, the AMA fosters a vibrant community of marketers. According to the Association of National Advertisers (ANA), it involves various methods to tell the brand story. More and more marketers are evolving their advertising to content marketing/storytelling to create more stickiness and emotional bonding with the consumer. As a professional member, you’ll be part of one of our 65+ local chapters across North America, connecting you with marketing professionals in your area.

However, if successful, it can unlock new revenue streams and significant growth opportunities. AMA Academic Journals publish the latest peer-reviewed research aimed at advancing our industry and equipping business professionals with the insight needed to make better managerial decisions. Digital access to all five of our journals is an included benefit that comes with being an AMA member. AMA offers training and certificates in the critical skills marketers need to advance and future-proof their careers. You can choose from a variety of in-person and online formats that fit your schedule.

This phase involves creating a detailed action plan, allocating resources, and monitoring performance to ensure that your strategy achieves its intended goals. Once you have developed your marketing strategy, the next step in our marketing strategy guide is to implement and execute the strategy effectively. A diversification strategy involves launching new products in new markets, making it the riskiest strategy.

Email marketing has a role in direct, digital, inbound and outbound marketing efforts. It helps marketers with lead generation, brand awareness, relationship building and more. If you complete one of the American Marketing Association’s digital marketing professional certifications, you will become dually certified with the AMA and the Digital Marketing Institute. As marketing professionals, play plinko it’s vital to grasp the different types of marketing and how to leverage them effectively for your success. By mastering this, you’ll be empowered to create targeted campaigns that truly resonate with your audience and yield measurable results. By following this marketing strategy process, you’ll enhance your marketing strategy’s effectiveness and set your business up for long-term growth and success.

Proximity marketing utilizes location-based targeting to reach customers near a physical location. The proximity marketing market is predicted to grow significantly, with a projected value of around $423.67 billion by 2031, showing its increased popularity. Video marketing focuses on using video content to engage audiences and promote your brand.