Marketing Strategy

By: The Marketing Network  26-Feb-2011
Keywords: Marketing, Online Marketing, Website Marketing

What are the best strategies to promote my products and services?

A Marketing Strategy provides the objectives for your Marketing Plan. The Marketing Strategy is shaped by the company’s overall business goals and provides SMART objectives:

  • Specific
  • Measurable
  • Achievable
  • Realistic
  • Timely

Important elements that comprise the final marketing strategy consist of:

  • Market Research
  • Market Feasibility Studies
  • Marketing Audits
  • Brand Positioning & Strategy
  • Sales Analysis & Forecasting

The resulting marketing strategy is usually expressed in the form of a Marketing Plan and a Communication Plan.

A marketing strategy should not be revised until the company’s objectives have been achieved or the competitive situation has changed significantly enough to warrant a change. Many problems in small and large businesses arise from marketing strategy being changed before it is necessary. The Marketing Strategy wrongly changes for the following reasons:

  • Whim of the owner or Managing/Marketing Director – they get bored with it.
  • A new Marketing Director or Manager – a new Marketing Consultant or Advertising Agency often changes the strategy to show who’s boss, regardless of whether the strategy is right or not.
  • The seeming lack of results generated by the marketing strategy causes them to panic and change before understanding what is working and what isn’t.
  • Competitive activity often causes a reaction that is not warranted – once again, panic. This in fact plays into the hands of the competitor who, like a boxer, has feigned a move and sucked you into making a move that exposes your weakness.

Keywords: Marketing, Marketing Strategy, Online Marketing, Website Marketing, Website Promotion

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