Creating a long-term, forward-looking approach and an overall game plan of any organization or any business to help it achieve a sustainable competitive advantage in the market by understanding the needs and wants of its customers.
The strategy will contain your company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements, which will help your reach your prospective consumers and turn them into customers of your products or services.
Strategic Marketing Plan
A Full plan that will map out your organization’s direction for the coming period whether it is 3 years or 10 years, that is adaptable to the market changes and involves undertaking a 360° of the firm’s current operational environment focusing on identifying new business opportunities, that will leverage the firm’s competitive advantage.
The strategic plan will help the firm reveal market threats that may need to consider for long-term sustainability.
Why Marketing Strategy?
A strategic marketing plan will help you answer 3 major questions:
- Where are we now? (Situation analysis)
- What business should we be in? (Vision and mission)
- How should we get there? (Strategies, plans, goals, and objectives)
Any properly made marketing strategy needs followup and management to ensure the successful achievement of the goals that strategy is built to achieve within the time frame set with the strategic plan.