The documented system that takes into consideration everything you know about your target market and defines your positioning, pricing structure, and the variety of messages and channels you will use to attract, convert, and maintain an ongoing stream of qualified customers.
The first stage is setting marketing objectives (where the organisation wants to be at the end of the strategic planning period) and goals (the objectives with specific numerical benchmarks and deadlines attached to allow management to measure achievement). The second stage is specifying the core marketing strategy, i.e. specific target markets, competitive positioning and key elements of the marketing mix. The third is the implementation of tactics to achieve the core strategy.
a company's plan that identifies how it will use marketing to achieve its goals (p. 11)
The marketing logic by which the business unit hopes to achieve its objectives. Marketing strategy consists of specific strategies for target markets, marketing mix, and marketing expenditure level.
encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix that will satisfy those people in the target market (18, 650)
a series of actions intended to accomplish a specific sales goal
A statement (implicit or explicit) of how a brand or product line will achieve its objectives. The strategy provides decisions and direction regarding variables such as the segmentation of the market, identification of the target market, positioning, marketing mix elements, and expenditures. A marketing strategy is usually an integral part of a business strategy that provides broad direction to all functions.
A description of the course of action to be taken to achieve a specific marketing objective. The strategy is often referred to as the connecting link between marketing objectives and marketing tactics.
A strategy indicating the specific target markets and the types of competitive advantages that are to be developed and exploited.
How to achieve your marketing objectives. Sometimes referred to as your business model.
One that encompasses the selection and analysis of a target market and the creation and maintenance of an appropriate marketing mix that will satisfy those people in the target market. p. 16
The basic plan marketing expects to use to achieve its business and marketing objectives in a particular market. This plan includes marketing expenditures, marketing mix, and marketing allocation.
Marketing strategy is a process that can allow an organization to concentrate its (always limited) resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.