Strategy & Planning
The Marketing Strategy and Marketing Mix
Marketing isn't an event. It's a strategy guided by a broader company-wide mission and one that should be carefully planned, executed and measured to ensure that corporate goals and objectives are being met.
In the end, the primary goal of your marketing strategy is to build long-lasting and profitable relationships with your customers by creating value for them. How you do that is defined in both your marketing strategy and plan(s).
With everything revolving around the customer, strategies include who you will serve (segmentation and targeting) and how you will serve them (positioning and differentiation).
To develop an integrating marketing mix based on the well-known "Four Ps," you conduct careful planning and then control your execution through statistical analysis.
And while all that may sound a bit overwhelming, developing a sound marketing strategy that marketing plans can then support and integrate with, is crucial in developing profitable customer relationships.
With decades of combined experience, the Marketing Max team can help your company create its sales, marketing and/or public relations strategies, plans, and programs by working with you to define the various components that make up the typical marketing strategy and marketing mix.
Strategies vs. Plans
Many businesses have a marketing plan but no marketing strategy. They do things that seem like sound marketing ideas—an ad in the local newspaper or an afternoon radio spot—but these tactics don't build upon one another to address an overall objective.
Let's look at an example scenario that should help to clarify the difference between strategies and plans:
Acme Construction Supply wants to be the number one supplier to local home builders. To accomplish this goal, they'll need a strategy.
In its simplest form—and after careful market research and analysis—Acme's strategy will be to increase awareness among local builders and to undercut competitors on certain popular products. Their plan includes targeted direct mail, radio spots, and in-store promotions with high-value product giveaways. The company could also have separate plans for each tactic—a direct marketing plan, for example.
The key with any marketing strategy is to make certain that everything you do supports that strategy and moves your business toward one or more pre-defined goals.
Ready?
Contact us today and let's grow your business!
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Mailing Address: 731 Duval Station Rd, STE 107-311 / Jacksonville, FL 32218
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