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    Importance of Marketing Strategies

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    Patricia Escolano
    A marketing strategy provides a roadmap to guide business decisions and help organizations utilize employee skills to develop creative sales and customer service approaches. It also aids in developing promotional strategies by identifying target markets and setting goals. Creating a marketing plan that aims for growth and positive change is vital to an organization's success. Marketing strategies can help businesses understand customers and identify gaps in the market to provide solutions. Strategic planning, a key aspect of marketing, encompasses goals for marketing, promotion, sales, and finances to develop plans for expected and unexpected situations. In short, a marketing strategy explains how an organization achieves its objectives.

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    Importance of Marketing Strategies

    Uploaded by

    Patricia Escolano
    506 views3 pages
    A marketing strategy provides a roadmap to guide business decisions and help organizations utilize employee skills to develop creative sales and customer service approaches. It also aids in developing promotional strategies by identifying target markets and setting goals. Creating a marketing plan that aims for growth and positive change is vital to an organization's success. Marketing strategies can help businesses understand customers and identify gaps in the market to provide solutions. Strategic planning, a key aspect of marketing, encompasses goals for marketing, promotion, sales, and finances to develop plans for expected and unexpected situations. In short, a marketing strategy explains how an organization achieves its objectives.

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    A marketing strategy provides a roadmap to guide business decisions and help organizations utilize employee skills to develop creative sales and customer service approaches. It also aids in developing promotional strategies by identifying target markets and setting goals. Creating a marketing plan that aims for growth and positive change is vital to an organization's success. Marketing strategies can help businesses understand customers and identify gaps in the market to provide solutions. Strategic planning, a key aspect of marketing, encompasses goals for marketing, promotion, sales, and finances to develop plans for expected and unexpected situations. In short, a marketing strategy explains how an organization achieves its objectives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    506 views3 pages

    Importance of Marketing Strategies

    Uploaded by

    Patricia Escolano
    A marketing strategy provides a roadmap to guide business decisions and help organizations utilize employee skills to develop creative sales and customer service approaches. It also aids in developing promotional strategies by identifying target markets and setting goals. Creating a marketing plan that aims for growth and positive change is vital to an organization's success. Marketing strategies can help businesses understand customers and identify gaps in the market to provide solutions. Strategic planning, a key aspect of marketing, encompasses goals for marketing, promotion, sales, and finances to develop plans for expected and unexpected situations. In short, a marketing strategy explains how an organization achieves its objectives.

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    Importance of Marketing Strategies

    marketing strategy is so useful that you can think of it as having a road map (or a
    cheat sheet). It will guide you in just about every business decision that you make.

    marketing strategies help your organization utilize the skills of your employees
    and stakeholders and can help you develop creative approaches to sales and
    customer service.

    A marketing plan is also important for developing a promotional strategy as it


    helps your business identify its target markets and to set measurable goals. It is
    vital to the success of the organization that you implement a marketing plan that
    aims for growth and positive change in the bottom line.

    Understanding Your Clients

    marketing strategies can also assist your business in understanding and


    connecting with clients and customers. Having a solid and well-thought-out
    marketing plan can help you identify gaps in the marketplace and provide feasible
    solutions for your clients.

    If you operate an ice cream business in a neighborhood where no other ice cream
    shops exist, it might be easier to attract clients than in a town where there are
    other ice cream options. In this case, understanding that your clients want
    sprinkles and waffle cones might help you sell more ice cream and keep your
    customers coming back for more.
    Strategic Business Planning

    Another important aspect of promotional and marketing strategies involves


    strategic planning. Strategic planning is a concept that encompasses marketing,
    promotion, sales, and financial goals and is essentially about developing goals for
    your business. Having a strategic plan for your business means having plans in
    place to deal with both expected and unexpected situations.

    When creating a marketing strategy it is much the same: we start with


    understanding the issues and thinking about how you can solve customer
    problems and then work with the leaders to translate this into a marketing plan. A
    marketing strategy is crafted through a solid understanding of the business, its
    customers and the marketplace opportunities and challenges.

    Marketing strategy provides an organization an edge over it’s competitors.

    Strategy helps in developing goods and services with best profit making potential.

    Marketing strategy helps in discovering the areas affected by organizational


    growth and thereby helps in creating an organizational plan to cater to the
    customer needs.

    It helps in fixing the right price for organization’s goods and services based on
    information collected by market research.

    Strategy ensures effective departmental co-ordination.

    It helps an organization to make optimum utilization of its resources so as to


    provide a sales message to it’s target market.

    A marketing strategy helps to fix the advertising budget in advance, and it also
    develops a method which determines the scope of the plan, i.e., it determines the
    revenue generated by the advertising plan.
    In short, a marketing strategy clearly explains how an organization reaches it’s
    predetermined objectives.

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