Module 02: Marketing Strategies (M2-EN)
Wolfgang Eisenreich, Angela Ivanova, Wolfgang Kniejski
The term “Marketing Mix” is a general expression used to describe the various types of marketing decisions, which need to be taken to bring your product or service to the target market. The marketing mix is also known as the “4Ps” (product – price – place – promotion); presumably the best-known way of characterizing the marketing mix.
The correct arrangement of marketing mix (see further elaboration of the 4Ps in Unit 1) by monasteries’ decision makers plays an important role in the success of the marketing activities:
- Develop strengths and avoid weaknesses (see details on SWOT analysis in Unit 2);
- Strengthen the competitiveness and adaptability; and
- Make the internal and external environment of the monastery work closely together (see details in marketing communication in Unit 3).
The main task of strategic marketing is to adapt your current situation to the expected development and to your intended objectives.
Strategies are long-term decisions or specifications that determine the framework of your organization’s policy, usually with a time frame of five to ten years. Such strategies can be compared with a guiding roadmap helpful for the daily management of your monastic enterprise, leaving space for short term tactical manoeuvres.
The marketing strategies are large scale and they determine structures, whereas short term marketing planning is tactical marketing and covers a time frame of approximately one year. It refers to certain defined measures and details.
The objective of this unit is to understand the role of communication in the marketing process in its entirety. Communication is not just advertising for the consumer, communication means to establish a relationship on many levels, from suppliers via consumers to one’s own employees.
Communication (and in particular, the sales promotion communication, e.g. advertising) is one of the main areas of the marketing mix next to the product, the price and the distribution. In the ideal case, it should be incorporated from the beginning of a marketing concept and occupy an equally important position.
Communication should not be reduced to the issue of advertising!