What is it mean by Marketing Strategy??

Question

i am a A level student and i dont know what it mean, therefore want to know what is it !! thankyou

Answer 1

It is the part of a business plan that outlines how you are going to promote your product/service, the timescales and costs involved, who your main target audience is and how many there are, and potential niche markets you could target in the future in order to expand.
For more info, enter "business plan" or "marketing strategy" into a google search.

Answer 2

Marketing plan is an outline of how you are intending to utlise the 4Ps (Promote, Price, Place and Product) to generate business and Marketing strategy is fine tuning your methods.

This is important for a business to plan their steps to do business but also it is important to apply for bank loans (also business plans). For new and small business, without a good marketing plan/strategy, you may be reject by investor or lenders for capital to develop your business.

The most important thing about a marketing stragtegy (especially borrowing money) is "Proof" This means you must proof there is a possible market for your product and service and you must proof you will be capable to provide it. With good solid proof, you will be able to make a better judgement on your chances to suceed in the market.

This is done by research of similar business and industry you wish to be involve in. A lot of things must be taken in consideration such as demographics, market value, expected income..etc

One other thing, a lot of text book won't teach you this.... One of the most powerful function of a marketing plan/ strategy if utlised correctly can save a business a lot of money by doing all the correct research on paper to determine if a product/service they plan to launch will be successful. And if it looks like it will be a failure, a wise business would abandon such project. I think this is the most valuable function a marketing plan/ strategy can provide.

To learn more about it, google it! There are heaps of great sites to learn about it!!

good Luck.

Answer 3

A grand marketing plan which has a long term view to all facets of marketing, conceptualised by top management as a vision-framework for the future growth of the company.

Answer 4

Marketing strategy is the companies´ manner of thinking about their future. It stands fundamentally to determine what will be companies´achievements in a short and long run.

From Rio de Janeiro.

Answer 5

It's your plan (what you're going to do) to sell your product or service.