Marketing Strategies Of The Marketing Strategy Essay

The Marketing Strategies that were exercised by eBay which contributed to its success. 1. Definition of the Marketing Strategy Grewal and Levy (2010: p.32) states that â€Å"a marketing strategy identifies a firm’s target market(s), a related marketing mix - their four P’s and the bases upon which the firm plans to build a sustainable competitive advantage†. Kotler and Keller (2012: p.274) further argues that ‘the marketing strategy is built on segmentation, targeting, and positioning (STP) and a company determines diverse needs and groups in the marketplace, targets those it can fulfill greatly and then positions its offerings so the target market recognizes the company’s distinctive offerings and images’. Over the years, eBay’s product portfolio has increased in size as a result of its global and localized approach to online auction and shopping. 2. Target Market and Market Segments â€Å"The target marketing process is an approach to marketing based on identifying and developing an offering for those segments of the total market that the organization can best serve† (Elliott et al, 2012, p.182.) eBbay chose to pursue a mass (undifferentiated) marketing strategy with priority being given to both the individual sellers and retail merchants. †¢ Segmentation Sellers can choose to pursue consumer markets, business-to-business (B2B) markets, or both. As a result, one recognizable way to begin the segmentation process is to segment markets into these two types of groups. eBay’sShow MoreRelatedMarketing Strategy1138 Words   |  5 PagesChapter 1 Marketing in Today’s Economy Exercise 1.1 CarsDirect http://www.carsdirect.com 1. Explore the CarsDirect website, including pricing a vehicle of your choice. How successful is CarsDirect in reducing the hassles associated with buying an automobile? 2. 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This is a great marketing strategy, because it doesn’t allow the consumer to feel that they are walking throughout the store without constant assistant. There are also employees who job is to provide the consumer with samples of products throughout the store on a daily basis, this allows the consumer to try the product before they buy it (Sang-Hung, 2006). This marketing strategy can be used as a survey technique that measure whether the product