Develop Marketing Strategies

Topics: Marketing, Competitor analysis, Strategic management Pages: 3 (779 words) Published: August 31, 2013
Develop a marketing strategy
Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps you define your vision, mission and business goals, and outlines the steps you need to take to achieve these goals.

Your marketing strategy affects the way you run your entire business, so it should be planned and developed in consultation with your team. It is a wide-reaching and comprehensive strategic planning tool that:

describes your business and its products and services
explains the position and role of your products and services in the market profiles your customers and your competition
identifies the marketing tactics you will use
allows you to build a marketing plan and measure its effectiveness. A marketing strategy sets the overall direction and goals for your marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take to implement your marketing strategy. Your marketing strategy could be developed for the next few years, while your marketing plan usually describes tactics to be achieved in the current year.

Write a successful marketing strategy
Your well-developed marketing strategy will help you realise your business's goals and build a strong reputation for your products. A good marketing strategy helps you target your products and services to the people most likely to buy them.

Developing a marketing strategy that includes the components listed below will help you make the most of your marketing investment, keep your marketing focused, and measure and improve your sales results.

Identify your business goals

To develop your marketing strategy, identify your overarching business goals, so that you can then define a set of marketing goals to support them. Your business goals might include:

increasing awareness of your products and services
selling more products from a certain supplier
reaching a new customer segment.
State your...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about marketing strategy
  • marketing Essay
  • Marketing Reading Guide Essay
  • Marketing Mix Essay
  • Essay on Marketing Management
  • Marketing Plan Essay
  • Simulated Test Marketing Essay
  • Marketing Stratege Essay

Become a StudyMode Member

Sign Up - It's Free