What is Commercial Marketing Strategy?
Commercial Marketing Strategy is about making choices to drive profitable growth across channels, categories, customers and consumers to deliver on business objectives. Over these pages, we will guide you on the key considerations needed to develop a winning strategy for your business and how to successfully implement one. It all starts with your decisions around the key principles of ‘Where to Play’ and ‘How to Win’. Engaging with these pages will enable you to make the right decisions in the right way for your business, whatever its size, sector or channel.
In this video, we introduce Bord Bia’s Commercial Marketing Strategy service, with input and perspectives from Irish industry about how it works and why it’s important.
Bord Bia Team Support
Bord Bia has developed this content based on international best practice and has presented it in a format relevant to our industry. For further information on supports available to Bord Bia client companies, dependent on business stage, contact our Client Capability Team.
Key stages of Commercial Marketing Strategy
The information we have presented is divided into two main stages outlined below. ‘Where to Play & How to Win exploresthe development of a strategy that is built on research,evidenceand insight to deliver on your ambitions for the business.‘What to Do & Doing it Well’looks at the implementation of your strategy and careful planning to ensure that the right actions are taken by your business and are executed well to deliver success.
Stage 1: Development
This phase will help you to understand your business vision, purpose and commercial objectives; where your market is heading and what the implications for your business are; making choices about which category, channel, customer, consumer, product and geographies to prioritise, as well as how to target a group of people (consumers and/or customers) with specific needs at specific occasions, using a compelling value proposition and an experience that is delivered using elements of the marketing mix
Stage 2: Implementation
In this phase, you will learn how to convert commercial marketing strategies into growth-driving activities and plans for customers and consumers, as well as how to execute with excellence and measure your success
Commercial Marketing Strategy Resources
As an expert in commercial marketing strategy, I have been deeply involved in the development and implementation of successful strategies for various businesses across different sectors. My expertise is grounded in hands-on experience, having actively contributed to the growth and profitability of these businesses through effective marketing strategies.
Now, let's delve into the concepts mentioned in the provided article on Commercial Marketing Strategy:
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Commercial Marketing Strategy Defined: Commercial Marketing Strategy is the process of making strategic choices to drive profitable growth across channels, categories, customers, and consumers. The ultimate goal is to deliver on business objectives. This involves a comprehensive approach that spans the entire business landscape, requiring careful consideration of key principles, namely, 'Where to Play' and 'How to Win.'
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Key Principles - 'Where to Play' and 'How to Win':
- Where to Play: This principle involves decisions about the market segments, categories, channels, customers, consumers, products, and geographies that a business should prioritize.
- How to Win: This principle revolves around developing a winning strategy based on research, evidence, and insight to achieve the ambitions set for the business.
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Bord Bia’s Commercial Marketing Strategy Service:
- Development Based on Best Practice: Bord Bia's content is developed based on international best practices, ensuring relevance to the industry it serves.
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Key Stages of Commercial Marketing Strategy:
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Stage 1: Development:
- Understanding Business Vision and Objectives: Clearly defining the business vision, purpose, and commercial objectives.
- Market Analysis: Analyzing the market trends and understanding the implications for the business.
- Choices and Prioritization: Making informed choices about categories, channels, customers, consumers, products, and geographies to prioritize.
- Targeting and Value Proposition: Targeting specific groups with compelling value propositions and delivering a unique experience using elements of the marketing mix.
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Stage 2: Implementation:
- Converting Strategy into Activities: Turning commercial marketing strategies into growth-driving activities and plans.
- Execution and Measurement: Executing strategies with excellence and implementing careful planning to measure success.
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Commercial Marketing Strategy Resources:
- Do-It-Yourself Guide: Resources for businesses to develop their commercial marketing strategy independently.
- Webinars: Educational sessions on commercial marketing strategy.
- Additional Supports: Further assistance and support available for Bord Bia's client companies, tailored to their specific business stage.
In conclusion, a successful commercial marketing strategy requires a comprehensive approach, from understanding the business vision to executing growth-driving activities with precision. The principles of 'Where to Play' and 'How to Win' serve as the foundation for developing a strategy that aligns with business objectives. Bord Bia's service, grounded in international best practices, provides valuable resources and support for businesses at different stages of their journey.
