Expeditionary marketing can be defined as marketing for growth. Its main objective is to move companies and firms into new markets and thus increasing the value of a firm. This type of marketing plays a very crucial role in identifying new opportunities, and the best part?
You can do marketing at the comfort of your home, office or even your organization’s headquarters! Basically, this form of marketing attempts to give companies a vantage by enabling them to move into new markets before the competitors move. Consequently, any company that aspires to be successful at least has to acknowledge the existence of this form of marketing.
Expeditionary Marketing Defined
Principles of Expeditionary Marketing
This involves taking advantage of the new opportunities and being ready to move into new markets.
2. Calculated risk taking-
This means the readiness to accept risks and consequently being in a position to handle the consequences associated with these risks.
This means willing to try something absolutely new which no one has tried before.
4. Opportunity focused-
Persistently being on the lookout for new opportunities that arise.
5. Customer intensity-
This tries to establish a strong link between the product and the customer.
6. Value creation-
Through price, innovation or utility, it focuses on creating value for a customer.
7. Resource leveraging-
This uses the resources available in a company to facilitate growth.
Who uses expeditionary marketing?
Frankly speaking, all companies have the potential to grow. Provided a business a business wants to expand its operations, the principles of this form of marketing will apply. However, it is important that one differentiates between expansions in expeditionary form of marketing from growth.
Expeditionary marketing is all about untested markets and new opportunities. Consequently, companies looking for new markets and products can comfortably use this marketing strategy.
Development and Implementation of Expeditionary Plan
To be honest, this type of marketing plan can really be hard to employ bearing in mind that several changes have to be made in a firm. For instance, if a company decides to introduce a new product, then out of necessity, they will need to hire new staff, develop production facilities and much more. Therefore, for this form of marketing to be successful, then there has to be a detailed and a careful course of action.
A company must first establish goals and work tirelessly to see to it that these goals have been achieved. Thereafter, they must identify the capabilities of various institutions and make informed survey of the markets.
Once a company has identified potential markets, they have to find new products to sell in the market. As such, firms need to coordinate sales, production and marketing staff towards a common goal.
Will a Degree in Marketing Help You Get a Job in Expeditionary Marketing?
Expeditionary marketers can make decisions that will impact the success of a firm either in a positive or a negative way. Nonetheless, these decisions must be supported by research methods perfected in marketing degree programs. Currently, it is not possible to get a degree based on this type of marketing, but the theories and principles acquired in marketing programs give a strong foundation as far as marketing for growth is concerned.
Gone are the days when consumers had to watch television adverts, generic magazines adverts and other adverts merely for information. Today, new and innovative methods are constantly arising because businesses are looking for opportunities to target new markets and eventually gain market share. Expeditionary marketing is one of such methods which besides acknowledging that there is a possibility of failure taking place, still considers it worth taking the risk.