Marketing Strategy

What are the best strategies to promote my products and services?

The Marketing Strategy is a summary of your business' products and services and your competitive positioning. A Marketing Strategy provides the objectives for your Marketing Plan.

The Marketing Strategy is shaped by the company's overall business goals and provides STARK objectives:

Specific
Timed
Achievable
Realistic
KPI (Key Performance Indicators - Measurable).

A marketing strategy should not be revised until the company's objectives have been achieved or the competitive situation has changed significantly enough to warrant a change. Many problems in small and large businesses arise from marketing strategy being changed before it is necessary. The Marketing Strategy wrongly changes for the following reasons:

Whim of the owner or Managing/Marketing Director - they get bored with it.
A new Marketing Director or Manager - a new Marketing Consultant or Advertising Agency often changes the strategy to show who's boss, regardless of whether the strategy is right or not.
The seeming lack of results generated by the marketing strategy causes them to panic and change before understanding what is working and what isn't.
Competitive activity often causes a reaction that is not warranted - once again, panic. This in fact plays into the hands of the competitor who, like a boxer, has feigned a move and sucked you into making a move that exposes your weakness.

See the Marketing Resources Page of our website to download Marketing Strategy Template.

Marketing Audit

Every established business should undergo an internal or external Marketing Audit at least every 3 or 4 years. The marketing audit is a review of its past marketing strategies. It will identify not only whether the Marketing Strategy needs to be changed but also the direction of where the company needs to go.

See the Marketing Resources Page of our website to download Marketing Audit Template.

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