Marketing Strategy
Marketing strategy
A strategy is a long-term plan to achieve certain objectives. A marketing[link] strategy is therefore a marketing plan designed to achieve marketing objectives. For example, marketing objective may relate to becoming the market leader by delighting customers. The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organisation needs to have clear marketing objectives, and the major route to achieving organisational goals will depend on strategy. It is important, therefore, to be clear about the difference between strategy and tactics.
These terms originate from military use (military strategy before and during a military campaign is the general policy overview of how to defeat the enemy). Developing a strategy involves establishing clear aims and objectives around which the framework for a policy is created. Having established its strategy, an organisation can then work out its day-to-day tools and tactics to meet the objectives.
Marketing can thus be seen as the process of developing and implementing a strategy to plan and coordinate ways of identifying, anticipating and satisfying consumer demands, in such a way as to make profits. It is this strategic planning process that lies at the heart of marketing.
In 1985, the Chartered Institute of Marketing adopted the dynamic slogan:
'Marketing means Business'
Strategic discipline
Marketing is now accepted as a strategic discipline or general management function and in this respect must care for the health of a business in the future - especially against competitive influences. This is because it is increasingly realised that although making a profit is important, an organisation should also develop its market share and search for brand leadership as well. So the marketer must monitor the profitability of the business and attempt to anticipate the likely trends. At the same time rival companies should
A strategy is a long-term plan to achieve certain objectives. A marketing[link] strategy is therefore a marketing plan designed to achieve marketing objectives. For example, marketing objective may relate to becoming the market leader by delighting customers. The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organisation needs to have clear marketing objectives, and the major route to achieving organisational goals will depend on strategy. It is important, therefore, to be clear about the difference between strategy and tactics.
These terms originate from military use (military strategy before and during a military campaign is the general policy overview of how to defeat the enemy). Developing a strategy involves establishing clear aims and objectives around which the framework for a policy is created. Having established its strategy, an organisation can then work out its day-to-day tools and tactics to meet the objectives.
Marketing can thus be seen as the process of developing and implementing a strategy to plan and coordinate ways of identifying, anticipating and satisfying consumer demands, in such a way as to make profits. It is this strategic planning process that lies at the heart of marketing.
In 1985, the Chartered Institute of Marketing adopted the dynamic slogan:
'Marketing means Business'
Strategic discipline
Marketing is now accepted as a strategic discipline or general management function and in this respect must care for the health of a business in the future - especially against competitive influences. This is because it is increasingly realised that although making a profit is important, an organisation should also develop its market share and search for brand leadership as well. So the marketer must monitor the profitability of the business and attempt to anticipate the likely trends. At the same time rival companies should