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What Is Marketing Strategies?

In: Business and Management

Submitted By skynight93
Words 1942
Pages 8
What is Marketing Strategy?
Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps organization define vision, mission and business goals, and outlines the steps need to take to achieve these goals.
Marketing strategy affects the way organization run entire business, so it should be planned and developed in consultation with team. It is a wide-reaching and comprehensive strategic planning tool that: * Describes business and its products and services * Explains the position and role of products and services in the market * Profiles customers and your competition * Identifies the marketing tactics will use * Allows building a marketing plan and measuring its effectiveness.
A marketing strategy sets the overall direction and goals for organization marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take to implement marketing strategy. Marketing strategy could be developed for the next few years, while your marketing plan usually describes tactics to be achieved in the current year.

Types of Strategies
Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief...

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