How to Create Marketing Strategy (Document Bundle)

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How to Create Marketing Strategy

A marketing strategy is a long-term plan for achieving a company's goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It encompasses everything from determining who your customers are to deciding what channels you use to reach those customers.

With a marketing strategy, you can define how your company positions itself in the marketplace, the types of products you produce, the strategic partners you make, and the type of advertising and promotion you undertake.

Having a marketing plan is essential to the success of any business. Read on to learn how to create a successful marketing strategy for your company.

1. Marketing is more than just advertising and promotion – it's all about connecting with the customer.
2. A marketing strategy sets the direction for all your product and marketing-related activities.
3. Having a marketing strategy helps keep all your activities on track.
4. Developing a marketing strategy involves setting goals, researching the market, developing product plans, defining your marketing initiatives, and following the "7 P's."

Marketing is about connecting your company with potential customers and connecting those customers with your products. It involves understanding customer needs, translating those needs into products and services, packing and pricing those products and services, and then convincing customers that they need to buy those products and services.

To put it simply, marketing is the entire cycle from identifying potential customers to satisfying those customers' needs with the products you produce.

Marketing isn't just advertising, public relations or putting together a website or email campaign. It's also about everything leading up to those activities to support both your customers and your sales team. It, ideally, drives your entire business and determines what products you produce and how you distribute them.

In essence, a marketing strategy determines the general direction – but not the specific details – for a variety of marketing-related activities. Ideally, your marketing strategy should help you define the following for your company:

1. Target audience
2. Value proposition
3. Product mix
4. Brand messaging
5. Promotional initiatives
6. Content marketing

Creating – and following – a marketing strategy is essential to setting the direction not just for your marketing-related activities but also for your entire business. Your marketing strategy helps you stay in sync with your customer base, develop the right products for them and determine how you communicate information about those products.

Without a defined strategy you won't know who your customers are, you won't develop the right products, and you'll waste money promoting them.

In short, having a defined marketing plan makes you more successful. According to a CoSchedule survey, companies who have a documented marketing strategy are 313% more likely to be successful than those who don't.

Thank you for your attention.

Regards,

UJ Consulting