Marketing for IT Companies > Marketing Strategy > Strategic Marketing Initiatives

Strategic Marketing Initiatives

Strategic Initiatives

When developing strategy, the two key questions are (Hooley et al, 2020, p161):

  • how can we exploit our strong resources more fully;
  • what new strong resources will we need to build to enable us to compete in the future?

Overview of Strategic Initiatives

Affected CustomersAffected MarketsGoalResource exploitability strategyPossible strategic initiatives
existing customers-existing marketsserve them better now‘fill the gaps’ or ’defensive ’ strategy:
exploit existing strong resources more fully
1. Strengths-Opportunities
2. Strengths-Threats
3. Weaknesses-Opportunities
4. Weaknesses-Threats
existing customers-existing marketsserve them better in future‘next generation’ strategy:
build new strong resources  
1. Strengths-Opportunities
2. Strengths-Threats
3. Weaknesses-Opportunities
4. Weaknesses-Threats
new customers -existing markets
-new markets
get new deals better now‘exploit current skills’ strategy:
exploit existing strong resources more fully
1. Strengths-Opportunities
2. Strengths-Threats
3. Weaknesses-Opportunities
4. Weaknesses-Threats
new customers -new marketsacquisition or merger‘diversified opportunities’ strategy:
build new strong resources
1. Weaknesses-Opportunities
2. Weaknesses-Threats

Type of resource exploitability issues for marketing purposes

TypeStrong resource exploitability statusKey IssueExample
Strong Are fully exploited in marketing now No issuesWe have a landing about a particular service for a particular customer segment, using this customer segment’s wordings describing their pains and required solutions. The landing contains successful case studies regarding exactly the same service, the same customer segment, the same pains, and the same solutions.  We have a scalable and working system for generating leads from exactly the same customer segment with the same pains and solutions as described on the landing.
Strong Are not fully exploited in marketing nowStart to exploit more fully We have a landing about service for a particular customer segment and have successful case studies, but have not represented them on the landing or we offer services but don’t represent them online because we don’t know how to name the services in customer’s terms or we placed them online and aren’t happy with the results. We don’t have a scalable and working system for generating leads from exactly the same customer segment with the same pains and solutions as described on the landing.
Weak or absentAre exploited in marketing nowDevelop or acquire if is able to justify this strategyWe have a landing about service but without segmentation (ambiguous one-size-fits-all offering), without using customer wording (only marketing terms), not relevant case studies (we don’t have relevant ones), because we don’t have enough resources to work on it. We don’t have a scalable and working system for generating leads from exactly the same customer segment with the same pains and solutions as described on the landing.
Weak or AbsentAre not exploited in marketing nowDevelop or acquire if is able to justifyWe have little or absent experience and haven’t created a landing because we don’t know how to pack this experience into the offering. Moreover, competitors have more strong offers on landings and it doesn’t make sense even to start offering something less valuable for clients just for the sake of offering. We don’t have a scalable and working system for generating leads from exactly the same customer segment with the same pains and solutions as described on the landing.
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