The marketing strategy is a marketing plan which serves the business strategy.
“Marketing” is essentially the monitoring of customer demand. Marketing activity is designed to impact customer demand, and in most cases to increase that demand to the optimal level.
Marketing strategy defines target segments based on the goals defined in the business strategy, as well as building a technical process to reach them. The marketing strategy is a tactical tool which assists and directs the sales goals and the process underlying them.
A marketing strategy directs the organization towards achieving its pre-set goals.
Listed are the components of a successful marketing strategy:
1. Planning marketing goals for both the short-term and long-term.
2. Analysis of market demand.
3. Marketing segmentation – dividing customers into different categories and
identifying niches.
4. Matching groups of potential customers to the business strategy. Generating
new groups of clients/marketing niches.
5. Analyzing market surveys.
6. Assigning the appropriate marketing tools, including advertising and Public
Relations, to the organization.
7. Planning a distribution policy.
8. Planning exhibitions and presentations for the company.
9. Forming an inner control system to keep track of the companies marketing policy.
10. Forming the clients’ members club.