Developing a marketing strategy

Published on February 27, 2020   25 min
Today, we will be looking at the different marketing strategies you can use, and different tactics you can apply for those strategies. We will be going from a perspective of life sciences, as we have been throughout these series.
So first, a bit about me. I'm an independent consultant, an author of some books on marketing strategy and market research for life sciences, a graduate, I specialize in bio-industry, and I have work with startups to Big Pharma in this space for last 15 years, worked in medical devices, nutraceuticals, biotech, pharma, and healthcare.
So today, we are on the art of strategy. What is strategy? It is the ensemble of decisions that you make so you can attain your objectives. You have to think of it as your high-level plan of action, whereas your tactics will be the more practical applications of that strategy. To give you a quick example, I worked with a company who had developed skincare products for oncology patients, and they had an objective market growth. We could say that their strategy, that we developed, was around product development, whereas you try to offer new and improved products or suggest new usage of current products to existing customers. But still, that could be perceived as vague. So from a more practical point of view, from a technical point of view, we had developers work around product bundling, whereas we try to bundle two or more products sold separately, a product that the consumer is already familiar with within your product, in the hopes of increasing sales and creating traction.