What is a marketing strategy? What is its objective? How to implement an effective marketing strategy? At Inprofit we guide you through the different steps to develop a successful marketing strategy.
Strategic marketing, what is it?
Strategic marketing is the study of how a company can integrate a given market.
In other words, it is the implementation of an action plan that enables the company to find customers and ensure their long-term loyalty. The marketing strategy thus consists of adapting the sale of products and services to customers’ needs.
How to develop your marketing strategy?
Strategic marketing analysis
The effectiveness of a marketing strategy depends essentially on the study and understanding of the target market. Therefore, before embarking on the development of a marketing strategy, it is essential to use the marketing mix method. This method makes it possible to highlight and analyze the following four main factors
- The product: in order to establish a coherent marketing strategy, it is important to know and know how to promote the various advantages and characteristics of the services offered. Thanks to this analysis, it will be possible to adequately target the marketing of the clientele.
- Price: the selling price of the company’s products and services must be adapted to the quality of the services and the target clientele. In addition, when setting the different selling prices, it is necessary to take into account the promotions and commercial gestures that can be offered. Pricing is one of the essential components of the company’s financial strategy.
- Distribution: the distribution strategy is essential. It allows defining the company’s commercial positioning by determining the most relevant sales channels (physical store or e-store, sales through distributors or other intermediaries).
- Communication: the communication strategy serves to attract customers’ attention to the company’s products and services. It is therefore necessary to take into account the desires and needs of the target clientele in order to get them to make a purchase.
Determine marketing objectives
To implement a strategic and operational marketing policy, it is important to set objectives. The advantage of objectives is that they provide a precise vision of the result to be achieved and how this result will be achieved.
The marketing strategy must be implemented in a well thought-out manner. To this end, an action plan must be drawn up over time with short-term, medium-term and long-term objectives.
In marketing, objectives can be measured in terms of:
- Sales volume
- Staff
- Retention, loyalty, satisfaction…
- Market
- Competition
It is important, at this stage, to establish objectives that are measurable, sufficiently ambitious and achievable.
Implementation of the marketing plan
When implementing the marketing plan, it is essential to involve all employees. Indeed, there is nothing better than gathering the opinions of the various business lines to reinforce the company’s strategy.
In addition, throughout the implementation of the marketing strategy, it is essential to periodically analyze the results obtained to report on the effectiveness of the plan.
If it proves difficult to achieve the objectives or if something unexpected happens, the marketing strategy must be adjusted. It is through real monitoring, accompanied by correction and adjustment of any difficulties, that the marketing plan will become a real winner.
The action plan
This plan constitutes the elements of the marketing mix, which must take into account both the results of the analysis and the objectives set.
Finally, it can be said that strategic marketing represents the backbone of the strategies that will be adopted to ensure the commercialization of the product and the development of customer loyalty.
Marketing Agency
In Inprofit we are a 360 Marketing Agency, which allows us to address strategic marketing actions, digital and more.
Do you have any doubts? Ask us without obligation. We help you in your business strategy.
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