From social media strategies to content marketing campaigns to website redesigns. How do you turn these ideas into strategies that will increase your firm's success? A strategic marketing plan can help set the ground work for a successful year by establishing goals that align with your company's overall strategic plan.
Magazine The Strategic Marketing Process: A Complete Guide A well defined and feasible marketing strategy makes meeting customer needs a likely and attainable goal. And while most companies do great marketing, only a few have created brand attachment and customer loyalty through their marketing practices and tactics.
A company wanting to secure a certain share of the market, should ensure they clearly identify their mission, survey the industry situation, define specific objectives and develop, implement and evaluate a plan to guarantee they can provide their customers with the products they need, when they need them.
Of course, the central objective of any company will be customer satisfaction so they may dominate the market and become leaders in their industry and thus providing substantial business satisfaction.
In order to do that, three phases of marketing strategy must be perfected to create delight in their customers and beat out the competition. Planning Phase The planning phase is the most important as it analyzes internal strengths and weaknesses, external competition, changes in technology, industry culture shifts and provides an overall picture of the state of the organization.
This phase has four key components that will provide a clear diagram of where your company is and what it is doing. To maximizes strengths and minimize weaknesses an organization must perform the following: Marketing program — Once the needs of the customers have been determined, and the decisions have been made about which products will satisfy those needs, a marketing program or mix must be developed.
This marketing program is the how aspect of the planning phase, which focuses on the 4Ps and the budget needed for each element of the mix. Set marketing and product goals Once the customer needs are understood, goals can be set to meet them, thus increasing the chances of success with new products.
Find points of difference: For example, your product could be longer lasting, more accessible, more reliable or very user-friendly so the buyers will choose it over the competition each time. Through emotional and mental marketing customers will associate your brand with their solution and eliminate choice.
Market-Product focus and Goal Setting — Once the questions of where the company stands and what it wants to achieve are answered, the next step in the planning process is determining where the resources will be allocated, and how to turn plans into focused action. To do this, customers should be divided into segments to determine what specific marketing technique will reach each targeted group and what each group needs.
Next measurable goals should be set to get the needed products to the various groups, thus fulfilling the marketing objectives. And as well, if customers are grouped by their common response to marketing, then the cooperation will know the right decisions to make to reach that specific market segment.
Implementation Phase The implementation phase is the action portion of the process. If the firm cannot carry out the plan that was determined in the early stages, then the hours spent planning were wasted. However, if the planning was adequately and competently structured, then the program can be put into effect through a sales forecast and a budget, using the following four components.
Obtaining Resources — sums of cash to develop and market new products.strategic marketing plan.
The seven steps in this guide will help you answer key The first step in any proactive marketing plan is to assess the current state of marketing at your organization. Take a step back and discover what’s actually occurring—or not occurring—at your nonprofit. Understand what strategy actually is and learn about more than 75 core strategy tools used by business leaders.
marketing, operations, and manufacturing. Enjoy exploring these tools, and developing strategic insight!
Browse Tools by Category Start Here (4) What Is Strategy? Developing Your Marketing Strategy. Essentials Guide to Strategic Planning Welcome Strategic Planner!
To assist you throughout your planning process, we have created a how-to guide on The Basics of Strategic Planning which will take you through the planning process step-by-step and keep you on track.
Riordan Strategic Plan MGT/ April 29, Riordan Strategic Plan Strategic planning is the process of developing strategies for a business to achieve the greatest success possible with the best information currently available. Digital Marketing Strategy 2: Developing Your Strategic Plan leads participants through the development of a strategic marketing plan for a real-world business.
These plans can harness a variety of digital tools such as social media, content marketing, big data and personalization, mobile marketing, co-creation and collaboration, and digital advertising (display, SEM, email, mobile).
The strategic planning process is a brief description of the steps in the process. These steps are a recommendation, but not the recipe for creating a strategic plan. However, the steps outlined below describe the basic work that needs to be done and the typical products of the process.