Prepared by a marketing lecturer, designed for university-level students
There should be clear steps to follow when developing a marketing strategy.
If the strategy is being developed for large organization, then they should be a corporate strategy document – known as a strategic plan … Read more...
There is a direct relationship between the firm/brand’s marketing strategy and its marketing mix design. A marketing mix should be the execution of the firm’s marketing strategy.
In other words, marketing strategy is implemented through the combination and design of … Read more...
It is sometimes confusing distinguishing between strategies and tactics as they refer to interdependent aspects of marketing activities. Basically, strategy refers to major decisions that impact the competitive position of a firm, whereas tactics are the activities that support … Read more...
Marketing strategy is designed to deliver short-term financial and marketing goals and to build and strengthen the firm’s competitive advantages over time. A firm that has significant competitive advantages will enjoy greater profitability and stability of performance.
In addition to documenting the plan itself and outlining the various action tasks, a marketing plan can actually provide other benefits to an organization.
One of the questions often asked by marketing students is whether or not a company really needs a marketing plan.
Certainly by the way that marketing plans are taught at university, … Read more...