Any well-written company plan includes a marketing strategy. However, it is of little value to a company unless it has a solid marketing strategy. A marketing plan includes a map of the company’s future marketing goals, as well as a comprehensive explanation of those goals and a strategy for attaining them. Depending on the scope of the marketing goals and the precise manner of achieving them, a map may be extremely comprehensive or very broad. It should provide a clear picture of the company’s future marketing position, including anticipated customer shares and sales figures.You may find more information at digital market
Any marketing strategy must include a contingency plan for coping with unforeseen occurrences, such as economic downturns, unanticipated consumer reactions to a product or service, and so on. Establishing a companywide practise of paying attention to the broad picture, rather than a limited emphasis on a few particular issues or possibilities, is an important part of creating a complete marketing plan. Developing a national or global habit of paying attention to the long-term goal may be more essential to the company’s long-term success than giving short-term attention to local issues or possibilities.
A marketing strategy should also contain a description of the marketing mix, which is a combination of conventional and nontraditional marketing tactics and procedures tailored to the company’s specific circumstances. Traditional promotional media such as the mail, television, and radio, as well as unconventional marketing efforts such as the internet and digital marketing activities, should all be included in the mix. The objective of the marketing mix should always be included in a solid marketing strategy, and it should be updated on a regular basis to reflect changes in the target market, relative strength or weakness of rival positions, and other pertinent information. An successful marketing plan creates a framework for predicting the outcomes of marketing activities and creates a complete marketing strategy that addresses both the short- and long-term elements of the company’s marketing operations. A well-executed marketing strategy boosts future profitability by enhancing customer satisfaction and increasing sales.