A marketing strategy is shaped by a businesses’ strengths, opportunities, and goals, and directs the more specific deliverables of the marketing plan.
Without a marketing strategy, firms are just chucking a product or service out there, hoping it will work.
Hoping there is a customer for it.
Hoping there is something that sets them apart from the alternatives.
Having no strategy is like walking across a desert without a compass or map, hoping good luck will help make it out the other side…
“Marketing strategy is an organisation’s integrated pattern of decisions that specify its crucial choices concerning products, markets, marketing activities and marketing resources in the creation, communication and/or delivery of products… and thereby enables the organization to achieve specific objectives.” (Varadarajan 2010, p. 119)
This article explores marketing strategy and its key components. Five common business orientations are also discussed, and how these influence the marketing strategy … Read more